705

Redevelopment of New Delhi Railway station to decongest Connaught Place; generate Rs 10,000 crore revenue

The Rail Land Development Authority (RLDA) is spearheading station redevelopment projects including New Delhi Railway Station, the country’s second-busiest junction. The redeveloped station will have a swanky double-dome terminal building that will be 450 metres long and about 80 metres tall, covering all 16 platforms of the station. The RLDA expects net revenue of Rs 10,000-12,000 crore from the redevelopment of the New Delhi station area, Ved Parkash Dudeja, vice chairman of RLDA, told Akash Sinha in an exclusive interview. Edited excerpts:

Redevelopment of New Delhi Railway station to decongest Connaught Place; generate Rs 10,000 crore revenue: RLDA VC Ved Parkash Dudeja

The Rs 4,500 crore project was sent to the Union Cabinet for approval. Has this been approved?

704

Twitter CEO Parag Agarwal will get $42 million if Elon Musk fires him after completing deal

Now that the Tesla boss is also the head of Twitter, the biggest question remains, will Parag Agrawal continue to be the CEO of Twitter? Musk previously said that he is against Twitter's management, so it is quite possible that there could be a shuffle in the management in the days to come. Or maybe not. But just in case Musk decides to fire Parag Agrawal, the billionaire will need to pay him around $42 million.

According to research firm Equilar, as noted by Reuters, Musk will need to pay Agarwal around $42 million if he is terminated within 12 months of a change in control at the microblogging site. Twitter hasn't commented on the matter yet.

In a securities filing on April 14, Musk said that he doesn't have confidence in Twitter's management. So, there's no clarity as to whether Agrawal will continue to serve as the Twitter CEO in future or not. For now, he is the CEO. Even Parag is unsure "which direction the platform will go".

Agrawal was appointed as the CEO of Twitter right after co-founder Jack Dorsey stepped down from his position. Parag has been serving as Twitter CEO since November last year. He previously served as CTO at the company. As per Twitter's proxy, largely in stock awards, Parag Agrawal's total compensation for 2021 was around $30.4 million.

607

Amid coal crisis, power plants meet record 201 GW demand

India’s power plants met maximum demand of over 201 GW (gigawatts) at 2.51 pm on Tuesday, beating the previous record of over 200 GW clocked on July 7 last year, as the economy began firing on all cylinders and a raging heatwave further fuelled consumption.

Coming amid low fuel inventories at coal-fired plants, which account for 75% of electricity flowing in the grid, the meeting of higher peak explains the faster depletion of fuel inventories at generation units and underlines the chinks in coal transportation.

The power ministry expects peak demand to touch 210 GW this month and is working towards ensuring all coal-fired power plants have fuel inventories to supply about 160 GW during peak hours.

606

Mumbai top cop releases clip to refute charge by Ranas

Mumbai Police commissioner Sanjay Pandey on Tuesday tweeted a 12-second video clip from a CCTV camera at Khar police station that shows policemen serving tea to Amaravati MP Navneet Rana and her husband MLA Ravi Rana, in response to the Lok Sabha member’s allegations that “basic human rights” were denied to her in police custody.

After Pandey posted the video on Tuesday afternoon, the Rana couple’s lawyer Rizwan Merchant issued a clarification, saying their complaint was not in reference to the Khar police station but related to Santacruz police station.

605

ED attaches assets of Pune-based Muslim religious trust in money laundering case

The Enforcement Directorate (ED) has provisionally attached a residential apartment worth Rs 1.50 crore, besides Rs 7.17 crore lying in the bank account of a Pune-based Muslim religious trust under the Prevention of Money Laundering Act (PMLA).

The ED initiated a money laundering investigation based on an FIR and charge sheets filed by Pune Police against the accused persons for claiming compensation of Rs 8.67 crore against the acquisition of land of Tabut Inam Endowment Trust (TIET) by submitting fabricated documents to the deputy collector and impersonating as office bearers of TIET (registered with the Waqf board).