In a significant setback for foreign direct investment in India’s financial sector, HDFC Bank has rejected a proposed $2 billion investment from Japan’s Mitsubishi UFJ Financial Group (MUFG). This decision has sparked disappointment in Japan and raised questions about the future of India-Japan economic ties despite the potential benefits of such a partnership. Instead of …
The Securities and Exchange Board of India (Sebi) has imposed a five-year ban on industrialist Anil Ambani and 24 other entities, including former key officials of Reliance Home Finance Ltd (RHFL), from participating in the securities market. This decision follows findings that they were involved in diverting funds from RHFL. Sebi has also levied a …
Jain Irrigation Systems (JISL) has made a significant breakthrough in the coffee industry. As the first company globally to develop a tissue culture protocol for coffee varieties, JISL has partnered with the Coffee Board of India to commercialise high-quality, disease-resistant coffee plants. This collaboration is poised to revolutionise coffee cultivation. JISL’s expertise in crop enhancement, …
On August 22, 2024, Dynacons Systems & Solutions Ltd, through an exchange filing, announced it has proudly been awarded the distinguished “Partner of the Year” accolade by Hewlett Packard Enterprise (HPE), a global leader in IT solutions. This prestigious recognition was bestowed during the HPE IGNITE 2024 Xcelerate NXT event, which took place in the …
On August 22, 2024, Adani Power announced that the National Company Law Tribunal (NCLT) in Hyderabad had approved its proposal to acquire Lanco Amarkantak Power Ltd (LAPL) with an upfront payment of ₹4,101 crore. Lanco Amarkantak Power Ltd is currently in the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, according to …
Hindalco Industries is planning to invest $10 billion in its ongoing expansion efforts, according to Chairman KM Birla. This investment includes the expansion at Novelis and plans to grow its aluminium and copper smelting operations. Birla, while speaking at the company’s annual general meeting (AGM), said, “Our expansions across the India business and Novelis will …
On August 22, 2024, Dalmia Cement (Bharat) Limited signed addendums to the SPA and PPA to acquire an additional 7.31% equity stake in O2 Renewable Energy V Private Limited, which consists of 2,782,685 equity shares worth ₹3.15 crore. This acquisition may occur in one or more tranches. As a result, DCBL’s total equity stake in …
On August 22, 2024, Muthoot Microfin, a leading microfinance institution in India, announced the opening of its first branch in Andhra Pradesh, located in Chodavaram. Mr Udeesh Ullas, COO, and Mr Subhransu Pattnayak, CHRO of Muthoot Microfin, attended the inauguration. With this new branch, Muthoot Microfin has extended its presence to 20 states and now …
Allied Blenders and Distillers Limited (ABDL) has announced a strategic partnership with Lexplosion Solutions to implement Komrisk, an advanced regulatory compliance management software. This collaboration is designed to strengthen ABDL’s compliance framework, ensuring robust regulatory adherence across its extensive national operations. With the deployment of Komrisk, ABDL aims to enhance its operational efficiency and maintain …
On August 22, 2024, Bharat Forge Limited announced that its Board, specifically the ‘Investment Committee – Strategic Business,’ has approved an additional investment in its wholly-owned subsidiary, Kalyani Powertrain Limited (KPTL). This strategic move underscores Bharat Forge’s commitment to advancing its electric vehicle (EV) and e-mobility initiatives. KPTL, a public limited company incorporated on September …
