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Land for gas pipeline: SC notice to Reliance
The Supreme Court today issued notices to Reliance Gas Transportation and Infrastructure Ltd, and the Ministry of Petroleum and Natural Gas on the appeals moved by more than 50 land owners of Surat, alleging that the Mukesh Ambani-led company had not paid them adequate compensation for acquisition. Their land will be used for laying pipelines to transport gas from the Krishna-Godavari basin to Gujarat.

Markets buck global trend
The Indian bourses opened on a positive note at 17,200, tracking strong global cues. The index soared to a high of 17,352 but changed course after a robust industrial production data was declared which raised fears that the central bank may need to control monetary policy. The IIP number increased to 10.3% Vs 9.6% (MoM).

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Festive season sales push up retail targets
This festive season has been successful enough in pushing sales for companies to revise upwards their year-end targets. A survey by the Federation of Indian Chambers of Commerce and Industry (Ficci) says demand conditions have improved across sectors.
Corporate

Foreign carriers can add capacity in peak traffic

Foreign airlines can now use larger aircraft and operate additional flights to India during the peak tourist season under the fresh guidelines issued by the government. - Sebi mulling action on MFs for compliance on NOC withdrawal - Aviation industry sees 20% less aircraft acquisition - DGCA to set up new aviation body - New aviation body to look into administrative affairs - TPPL partners close to resolve land issue - DGCA sets up permanent panel to update aviation rules The guidelines, outlined by the Directorate General of Civil Aviation (DGCA), clip the right of national carrier Air India to clear the extra flights through a No-Objection Certificate (NOC), official sources said. The new rule allows foreign airlines to mount additional capacity of up to 10 per cent of their entitlements during periods of high air traffic, including the peak season, natural calamities or major international events. This means these airlines may deploy larger aircraft or operate additional flights. The airlines are subject to the bilateral air traffic agreements between India and the respective countries. Earlier, the R N Kaw Committee, set up to strengthen the DGCA, had recommended that availing of the NOC from the national carrier should be done away with in order to clear extra-section flights of its competitors. This recommendation has been accepted by the government, which expects that similar reciprocal rights would be granted to Indian carriers by the foreign governments whose airlines are being allowed to mount additional capacity, the sources said.


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