The Delhi High Court has stayed the Solar Energy Corporation of India’s (SECI) decision to bar Reliance Power from participating in auctions for three years, the Anil Ambani group company said on Tuesday.
Mahindra & Mahindra (M&M) on Tuesday expanded its electric vehicle portfolio in the country with the introduction of two all-new models. The Mumbai-based auto major unveiled two ground up models -- BE 6e and XEV 9e -- here with deliveries expected to commence in February-March next year. The company said entry level variants of BE 6e and XEV 9e are priced at Rs 18.9 lakh and Rs 21.9 lakh (ex-showroom), respectively.
Lumax Resource has completed the acquisition of a 60 per cent stake in Greenfuel Energy Solutions’ alternate fuel business for Rs 153.09 crore, a statement said on Tuesday It is the wholly-owned subsidiary of Lumax Auto Technologies.
The Competition Commission of India (CCI) on Tuesday approved Kotak Mahindra Bank’s proposed acquisition of Standard Chartered Bank India’s personal loans portfolio for Rs 4,100 crore. “The proposed combination is in the nature of an acquisition of the Target Business (unsecured personal loans portfolio) by Kotak Mahindra Bank Ltd (acquirer) from the Standard Chartered Bank, India Branch (Transferor),” CCI said in a release.
Zee Entertainment and its subsidiary Margo Networks have lost their claims in the arbitration against Navratna PSU RailTel Corporation of India. An arbitration tribunal -- formed over the dispute over the termination of the contract for content-on-demand (COD) by the PSU -- rejected the claim of Margo Networks. “The company is evaluating the option of filing an application/appeal before the appropriate Court for setting aside of the Arbitral Award,” it added.
BLS E-Services Limited, a technology-enabled digital service provider, on Tuesday announced the completion of its acquisition of a 57 per cent controlling stake in Aadifidelis Solutions Pvt Ltd and its affiliates (ASPL) for a consideration of Rs 123 crore. ASPL, which is in the distribution and processing of loans for corporates and individuals, has been valued at Rs 190 crore for the deal.
IT firm Wipro on Tuesday announced a four-year extension of its partnership with Italian automotive solutions provider Marelli to focus on cloud transformation. As part of the partnership, Wipro FullStride Cloud will transition Marelli’s Milan Data Centre and local server rooms to the cloud, thus centralising its operations to create a more agile and stable environment, according to a regulatory filing.