The Competition Commission of India has cleared JM Financial’s proposed acquisition of a 43 per cent stake in JM Financial Credit Solutions Ltd, an RBI-registered systemically important non-deposit-taking non-banking finance company (NBFC). It is a subsidiary of JM Financial Ltd (JMFL). It is engaged in wholesale lending activities with a primary focus on real estate financing and corporate financing. The CCI also approved the acquisition of 71.79 per cent of the total paid-up share capital of JM Financial Asset Reconstruction Company Ltd by JMFCSL. It is engaged in the business of acquisition of stressed assets from banks/financial institutions and implementing resolution strategies for the acquired assets.

IRB Infrastructure on Tuesday posted a 19 per cent year-on rise in its toll revenue to ₹502 crore in September. Revenues from the toll collection business stood at ₹421 crore in the same month last year, IRB said in an exchange filing.

Tata Technologies and BMW Group on Tuesday announced the official launch of their joint venture, BMW TechWorks India, which will innovate automotive software, including software defined vehicles (SDV) and digital transformation solutions for business IT.

Torrent Power has secured a contract from the Maharashtra government to supply 2,000 megawatt energy storage capacity from its upcoming plant in the state. In a statement, Torrent Power said it has received the order for an additional 500 MW capacity supply in addition to 1,500 MW awarded last month, taking the total supply order to 2,000 MW capacity.

Timken India has received a demand order from the Income Tax Department, requiring an additional ₹100 crore in income adjustments for the assessment year 2021-22. The order cited discrepancies in the company’s arm’s-length pricing methods related to its distribution segment.

Schneider Electric has said that its appeal against a tax demand of ₹2.21 crore for the financial year 2017-18 has been rejected. The decision was made by the Office of the Joint Commissioner of Commercial Taxes (Appeals-1) in Bengaluru, which upheld a previous adjudication order and demanded the disputed amount, including interest and penalties.

Infosys has announced a collaboration with Nasdaq-listed Old National Bank for strategic expansion. Old National will leverage Infosys’ services, solutions, and platforms for operations transformation and process digitisation powered by automation and generative AI (GenAI).

Aurigene Oncology, a subsidiary of Dr Reddy’s Laboratories, has announced the Phase 1 results for Ribrecabtagene autoleucel (DRL-1801) from the SWASTH study. The Drugs Controller General of India has approved the commencement of the Phase 2 part of the trial. The SWASTH study is India’s first trial for a novel autologous BCMA-directed CAR-T cell therapy in patients with relapsed/refractory multiple myeloma.

The Board of Indian Railway Finance Corporation (IRFC) has approved financing up to ₹700 crore under the finance lease for 20 BOBR rakes procured under the General-Purpose Wagon Investment Scheme (GPWIS) of the Ministry of Railways for NTPC. 

Premier Energies International, subsidiary of Premier Energies, has entered into a Module Supply Agreement (MSA) with BN Hybrid Power-1 for the supply of 173.35 MWp of solar modules featuring the latest Topcon technology. These modules will be used for the 300 MW FDRE (wind, solar, and energy storage) Power Project in Barmer, Rajasthan. BN Hybrid Power-1 is a special purpose vehicle of BrightNight India.

Namo eWaste Management has acquired 2 acres of land in the Electronic Manufacturing Cluster in Ranga Reddy district, Telangana, from the Telangana State Industrial Infrastructure Corporation, for ₹3 crore. The land will be utilised for setting up an e-waste recycling plant in Telangana.

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