Cabinet Committee on Economic Affairs approved winding up of CHBL & ICBL

Mar 26, 2017 08:08 IST

CCEA renewable energy CREDAThe Cabinet Committee on Economic Affairs (CCEA) on 23 March 2017 gave is approval for closure/winding up of CREDA HPCL Biofuel Ltd (CHBL) and IndianOil - Chhattisgarh Renewable Energy Development Agency (CREDA) Biofuels Limited (ICBL).

As of now,

• All office assets of CHBL and ICBL have been disposed of.

• No manpower exits on the rolls of CHBL and ICBL.

• There is no financial outgo from the Government of India and lands have been returned to CREDA.

• All liabilities have also been settled.

Hence, closure of CHBL and ICBL would result in saving unfruitful expenditure on statutory compliance.

CA eBook


• Joint Ventures (JVs’) CREDA HPCL Biofuel Ltd (CHBL) and IndianOil-CREDA Biofuels Limited (ICBL) were formed for carrying out energy crop (Jatropha) plantation and production of bio-diesel in 2008 and 2009 respectively.

• The CREDA, an arm of Chhattisgarh, had provided wasteland to CHBL and ICBL through Land Use Agreement (LUA) for plantation of Jatropha.

• Due to various constraints such as very poor seed yield, limited availability of wasteland and high plantation maintenance cost the project became unviable and Jatropha plantation activities were discontinued.

ICICI launched Mera iMobile application for rural customers


• Chhattisgarh State Renewable Energy Development Agency (CREDA) was constituted on 25 May 2001 under the Department of Energy, Government of Chhattisgarh.

• It implements various schemes pertaining to renewable energy sources and energy conservation activities.

• It is registered under the Society Act, 1973 with the controlling body being Energy Department, Government of Chhattisgarh.

• CREDA was established as the nodal agency for the development and promotion of non-conventional and renewable sources of energy.

• Most of the schemes like National Programme on Bio-gas Development, Solar Thermal, Solar Photo Voltaic, Remote Village Electrification and Biomass Gasifier, which are sponsored by the Union Ministry of Non-Conventional and Renewable Energy Sources (MNRE) are implemented by the CREDA.

• Since its inception, it has also undertaken extensive human resource development activities in the field of renewable energy management.

Is this article important for exams ? Yes3 People Agreed
Read more Current Affairs on: ndian Oil , Renewable Energy , CREDA , CHBL , ICBL , Jatropha , Biofuels

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK