Latest news with #BOP
Business Upturn
4 hours ago
- Business
- Business Upturn
BGR Energy receives contract termination from TN Power Corp for major Chennai project worth Rs 2,600 crore
BGR Energy Systems has announced that it has received a termination letter from Tamil Nadu Power Generation Corporation Ltd (TNPGCL), formerly known as TANGEDCO. The termination relates to the ₹2,600.02 crore EPC contract awarded for the Balance of Plant (BOP) and allied civil works at the 1 x 800 MW North Chennai Super Critical Thermal Power Project, Stage III. The official termination order was dated July 18, 2025, and was received by the company on July 22, 2025. In the exchange filings, BGR Energy Systems shared, 'We hereby inform you that the company has received 'termination of contract' letter from Tamil Nadu Power Generation Corporation Ltd (TNGCPL) (erstwhile TANGEDCO). This is with respect to establishment of 1 x 800 MW North Chennai Super Critical Thermal Power Project, Stage III – Balance of Plant (BOP) package along with allied civil works EPC contract of value Rs 2600.02 Crores' According to the disclosure, TNPGCL cited key project obligations not being fulfilled, incomplete critical systems, and lapses in insurance renewals and guarantee extensions as the reasons behind the decision. BGR Energy, however, noted that the matter is currently under arbitration before the Hon'ble High Court of Madras and expressed hope for a favorable resolution. The company also clarified that the termination does not have any significant impact on its financials or operations at this stage. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
News18
5 hours ago
- Business
- News18
Funding, Fraud & Lawsuits: Why Every Entrepreneur Needs Insurance To Tackle Legal Risks
Last Updated: India's startup boom ranks it third globally, but rising legal risks are prompting startups to invest in liability insurance. News18 India's startup boom has turned the country into the third-largest startup ecosystem globally. But as businesses grow, so do the risks. From consumer claims and cyber threats to regulatory challenges and investment disputes, today's entrepreneurs face a host of legal vulnerabilities. In such a climate, insurance isn't just a backup plan—it's a strategic shield. Experts stress that having the right policies in place can protect founders, investors, and the businesses they're building. Why Legal Risk Is on the Rise 'As legal risks become more prominent, many startups are increasingly investing in liability insurance," says Aftab Chaz, Associate Director & Business Head at He explains that lawsuits around bodily injury, product defects, negligence, and professional errors are becoming more frequent across sectors. This trend has led to growing demand for Comprehensive General Liability, Professional Indemnity, and Directors & Officers (D&O) insurance. According to Chaz, these policies are crucial in shielding businesses from financial and reputational losses while improving investor confidence. PE and VC transactions are at an all-time high in India, but with rising deal sizes come bigger risks. Tapas Nandi, Director – Infrastructure & Energy at Alliance Insurance Brokers, notes, 'With increased financial frauds and cyber threats, even a minor slip in a major deal can cause serious damage." He recommends that early-stage startups and their investors consider a Business Owners Policy (BOP)—a bundled solution covering general liability, commercial property, and business interruption. He adds that Venture Capital Liability Insurance can help protect investors from errors, omissions, and legal challenges tied to deal-making or board-level responsibilities. Founders Must Think Holistically Mudassir Khalil, Head – Reinsurance, Surety & Liability at Digit Insurance, outlines five key insurance policies every entrepreneur should consider: Comprehensive General Liability (including product & public liability) Professional Liability Insurance (for service-related risks) D&O Insurance (to protect leadership teams) Employee Compensation (for workplace injuries) Warranty & Indemnity (W&I) Insurance (to cover deal breaches) 'These covers not only reduce financial damage during a crisis but also build a culture of risk preparedness," says Khalil. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
New York Post
5 days ago
- Politics
- New York Post
Bondi, Burgum tour Alcatraz as Trump wants to ‘renovate and reopen' notorious island prison
Attorney General Pam Bondi and Interior Secretary Doug Burgum toured Alcatraz Thursday as President Trump pushes to house inmates at the notorious San Francisco Bay prison more than six decades after it closed. 'Alcatraz is the brand known around the world for being effective at housing people that are in incarceration,' Burgum said of the island facility, which is currently a popular tourist destination run by the National Park Service. 'It's a federal property. Its original use was a prison,' the interior secretary said of 'The Rock' in an interview with Fox News. 'And so part of this would be to test the feasibility [of] returning it back to its original use.' Advertisement 3 The Trump administration is looking to use Alcatraz to house dangerous criminals and illegal migrants. Secretary Doug Burgum Burgum added that his department and the DOJ are taking the lead as 'work to renovate and reopen the site to house the most dangerous criminals and illegals' begins. In May, Trump directed his administration to explore getting Alcatraz back up and running to lock away 'vicious, violent, and repeat' criminal offenders. Advertisement The president said in a Truth Social post he envisioned a 'substantially enlarged and rebuilt' prison that would 'serve as a symbol of Law, Order, and JUSTICE.' Alcatraz operated as a major federal detention center between 1934 and 1963 and enjoyed the reputation of being nearly inescapable due to the strong currents and ice-cold temperatures of the nearby bay. Gangsters Al Capone and George 'Machine Gun' Kelly were among the institution's most notorious inmates. 3 Alcatraz, located about 1.5 miles off the coast of San Francisco, was the most expensive federal prison to run when it was operational. AG Pam Bondi Advertisement The prison closed in 1963 after it was deemed too expensive to continue operating. At the time, an estimated $3-5 million ($31 million- $52 million in today's money) was needed for restoration and maintenance work vital to keeping the facility running, according to the Bureau of Prisons (BOP). That figure didn't include daily operating costs, which were the highest in the federal prison system at the time because all food, water, supplies and other necessities had to be delivered by boat. At the time of its closure, Alcatraz was nearly three times more expensive to operate than any other federal prison, according to BOP. Advertisement 3 Bondi acknowledged the facility 'needs a lot of work' before it can once again operate as a prison. AP 'It could hold middle-class violent prisoners, it could hold illegal aliens. It could hold anything,' Bondi told Fox News after touring the site. 'This is a terrific facility,' the attorney general added. 'It needs a lot of work, but no one has been known to escape from Alcatraz and survive.' During Alcatraz's 29 years as a prison, 36 men made a bid for freedom — with nearly all of them dying or getting captured by guards. Brothers John and Clarence Anglin and fellow inmate Frank Morris successfully made it off the island in a daring escape attempt in 1962, but are presumed to have drowned in the bay. Former House Speaker Nancy Pelosi (D-Calif.), who represents San Francisco in Congress, slammed the idea of refurbishing Alcatraz to house inmates as 'the stupidest initiative put forth' by the Trump administration. 'Being tough on crime is not turning Alcatraz, which won't even be a prison for a long time to come — I don't think it'll ever happen,' Pelosi said in an interview on MSNBC's 'Chris Jansing Reports' Thursday. 'This is not about being tough on crime,' she added. 'It's being frivolous about money and silly about the choices they have made.'
The Hill
5 days ago
- Politics
- The Hill
Burgum, Bondi visit Alcatraz in California as Trump calls for it to reopen
Interior Secretary Doug Burgum and Attorney General Pam Bondi visited Alcatraz Federal Penitentiary in California on Thursday, just two months after President Trump ordered the reopening of the historic prison near San Francisco. Both Trump administration officials shared photos online from their visit to the offshore prison, which closed more than 60 years ago because of soaring costs. 'Spent the day on Alcatraz Island, a @NatlParkService site, to start the work to renovate and reopen the site to house the most dangerous criminals and illegals,' Burgum wrote on social platform X. 'This administration is restoring safety, justice, and order to our streets. @Interior & @TheJusticeDept are following a directive by @POTUS to help lead that mission.' 'A great morning at Alcatraz with @SecretaryBurgum,' Bondi added in her own post. 'Under President Trump, we are Making America Safe Again.' Trump floated the idea of reopening the prison, which became particularly well known for its portrayal in Hollywood films and for holding notable figures including Al Capone and George 'Machine Gun' Kelly, in May. 'For too long, America has been plagued by vicious, violent, and repeat Criminal Offenders, the dregs of society, who will never contribute anything other than Misery and Suffering,' Trump posted to Truth Social at the time. 'When we were a more serious Nation, in times past, we did not hesitate to lock up the most dangerous criminals, and keep them far away from anyone they could harm.' The president continued, 'That's the way it's supposed to be. No longer will we tolerate these Serial Offenders who spread filth, bloodshed, and mayhem on our streets.' 'That is why, today, I am directing the Bureau of Prisons, together with the Department of Justice, FBI, and Homeland Security, to reopen a substantially enlarged and rebuilt ALCATRAZ, to house America's most ruthless and violent Offenders,' he added. Reopening the prison, however, will not be an easy feat. The island is now part of a national park, under the control of the Interior Department, and transferring control would require legislative action. The Bureau of Prisons (BOP) notes on its website that soaring costs led the prison to close in 1963. 'An estimated $3-5 million was needed just for restoration and maintenance work to keep the prison open. That figure did not include daily operating costs — Alcatraz was nearly three times more expensive to operate than any other Federal prison,' according to the BOP. Former Speaker Nancy Pelosi (D-Calif.), who represents the San Francisco area, ripped the administration's plan to reopen the prison, calling it Trump's 'stupidest initiative yet.' 'It should concern us all that clearly the only intellectual resources the Administration has drawn upon for this foolish notion are decades-old fictional Hollywood movies,' Pelosi wrote in a statement Wednesday. 'Make no mistake: this stupidity is a diversionary tactic to draw attention away from this Administration's cruelest actions yet in their Big, Ugly Law, which takes away food from children and rips health care from millions to give tax breaks to billionaires,' the California Democrat continued. 'It remains to be seen how this Administration could possibly afford to spend billions to convert and maintain Alcatraz as a prison when they are already adding trillions of dollars to the national debt with their sinful law,' she added.
Time of India
12-07-2025
- Politics
- Time of India
Wildlife body clears 32 defence infra proposals
The projects include those for construction of strategic roads, helipads, ammunition depots, and housing for troops and artillery regiments NEW DELHI: National Board for Wildlife (NBWL), an apex body that makes decisions on matters relating to wildlife conservation and habitat protection, has approved 32 defence infrastructure proposals involving the diversion of land from protected areas and eco-sensitive zones across Ladakh, Sikkim, Arunachal Pradesh and Gujarat. The projects include those for construction of strategic roads, helipads, ammunition depots, and housing for troops and artillery regiments. The bulk of the projects along the China border are to be executed in Ladakh's ecologically fragile Karakoram (Nubra-Shayok) and Changthang Cold Desert Wildlife sanctuaries. One of the most critical projects that got approval is a 10.26-km road link between Daulat Beg Oldie (DBO) and the Border Personnel Meeting (BPM) Hut. This is the place where Indian and Chinese army officers meet to discuss border issues. All the approvals were granted by the board's standing committee, chaired by Union environment minister Bhupender Yadav, that met on June 26. The projects had been recommended subject to conditions such as preparation and enforcement of mitigation measures, restrictions on timing and area of operations, waste disposal plans and regular compliance reporting. Besides defence infrastructure projects in Ladakh, the committee cleared a proposal to divert 310 hectares of forest land from the core area of Namdapha Tiger Reserve in Arunachal Pradesh for construction of the Arunachal Frontier Highway, and projects in Gujarat for the construction of a Border Out Post (BOP) and a helipad. For Ladakh, the committee cleared over two dozen proposals. These include 33.4 hectares (ha) for an artillery regiment and field hospital at Bogdang; 47.6 ha for a forward aviation base at Shyok; 25.1 ha for housing Short Range Surface to Air Missile systems; 31 ha for an ammunition storage facility at Gapshan; and 40.47 ha for an Army regiment at Nidder. The proposal for setting up of a Field Ammunition Storage Facility (FASF) at Hanle and another for reconnaissance and stationing of helicopters at Partapur were also cleared with standard conditions. In Sikkim, the committee approved the use of 0.29 ha of forest land from Pangolakha Wildlife Sanctuary for operating a hot mix plant under BRO's Project Swastik in Gangtok district.
