PNB Housing Finance : The Securities and Exchange Board of India has filed an appeal against Securities Appellate Tribunal (SAT)’s split verdict in the PNB Housing-Carlyle deal case. PNB Housing Finance Limited is currently examining the appeal filed by the market regulator, the company said in a BSE filing on September 2. It may be recalled that two-member SAT last month gave a split verdict in the appeal filed by PNB Housing Finance against SEBI over the proposed ₹4,000 crore investment by Carlyle Group.
PNB Housing said in the regulatory filing: “This is in furtherance of our earlier communications intimation dated July 06, 2021, and August 10, 2021, with respect to the appeal filed by the Company before the Securities Appellate Tribunal against the letter dated June 18, 2021, issued by the Securities and Exchange Board of India and pronouncement of order by the Honourable Securities Appellate Tribunal, respectively.”
Atul Auto Limited has completed the acquisition of 70 per cent share capital of Khushbu Auto Finance Limited whereby making it Wholly Owned Subsidiary on September 1. Before the acquisition, the Company was holding 30 per cent stake in KAFL, a Non-Banking Finance Company. KAFL is having net worth of ₹68.96 Crore as on March 31, 2021 and Turnover of ₹33.80 Crore in FY 2020-21. The Company is engaged mainly in the business of financing of three-wheeler automobiles. KAFL has business presence in the state of Gujarat, Haryana, Andhra Pradesh, Kerala and Karnataka. The stake has been acquired at ₹16.16 a share with the total consideration amounting to Rs 44,56,92,800.
IRB Infrastructure Developers Ltd, India's one of the leading and largest highways infrastructure developers, has emerged as a preferred bidder for the construction of six lanes of 20.060 Kms Pondavakkam to Kannigaipair stretch on the upcoming Chittoor - Thachur Highway in the State of Tamil Nadu at the cost outlay of ₹909 crore.
RailTel Corporation of India Ltd has received a Contract from Directorate of Information Technology, Indian Air Force, Ministry of Defence for implementation of Secure OPS Network for value of ₹299.95 crore (Inclusive of GST). The work is to be executed over a period of 12 months.
Ahluwalia Contracts (India) Limited has secured new order aggregating to ₹229 crore for Construction of affordable housing project at New Town - Kolkata (WB) awarded from West Bengal Housing Infrastructure Development Corporation Ltd. (WBHIDL). The total order inflow during the FY 2021-22 stands at ₹229 crore.
India Radiators has initiated a new line of business of renting of properties with effect from 01 September, 2021. The business of renting the movable / immovable properties of the Company is one of the objects existing in the object clause of Memorandum of Association of the Company.
Binny : A meeting of the Board of Directors of Binny will meet on Saturday to consider and approve the formation of a wholly owned Subsidiary company for setting up a 195 KLPD Grain based Distillery for production of Fuel ethanol, under projects approved for Ethanol Interest Subvention Scheme announced by the Government of India and setting up a 2 MW Solar Power Project.
Jammu & Kashmir Bank: The board of the directors of the bank has approved raising of equity share capital up to Rs 1,000 crore in one or more tranches and ₹1,000 crore by way of non-convertible debentures on a private placement basis.
Salzer Electronics has incorporated a joint venture Salzer Emarch Electromobilidy to make electric conversion kits for auto-rickshaws, cars and buses and also manufacture novel electric driven utility vehicles and other allied activities.