Reliance Finance and Investments USA LLC (RFIUL), a step-down wholly owned subsidiary Reliance Industries (RIL) has picked up a 21 per cent stake in US-based Wavetech Helium, Inc., marking the oil-to-telecom conglomerate’s expansion in the helium segment which has a significantly lower carbon for $12 million.

The shareholders of Zee Entertainment have rejected a proposal for the reappointment of Punit Goenka as director, according to a regulatory filing by the company. It stated that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company. Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54 per cent of the total number of votes cast while 50.4 per cent voted against the resolution.

Indian Hotels Company (IHCL) on Thursday announced the signing of a 93-key brownfield resort in Kandla, Gujarat, under Gateway brand.

State-owned Steel Authority of India Ltd has entered into a partnership with the Indian arm of John Cockerill Group for using green technologies in iron and steelmaking processes. The development assumes significance as the maharatna firm remains committed to transform traditional iron and steelmaking practices by adopting advanced, sustainable technologies, the company said in a statement.

K Raheja Investment Managers on Thursday settled with capital markets regulator SEBI a case on alleged violation of REIT rules by paying ₹68.73 lakh towards settlement fee in the matter of Mindspace Business Parks REIT. K Raheja Investment Managers LLP (now known as K Raheja Corp Investment Managers Pvt Ltd) is the manager of Mindspace Business Parks REIT. Mindspace Business Parks REIT, sponsored by K Raheja Corp group, was listed on the Indian bourses in August 2020. It owns office portfolios in the Mumbai Region, Pune, Hyderabad, and Chennai.

PCBL Ltd on Thursday said that the second and final phase of its specialty chemical capacity expansion at the Mundra plant in Gujarat has been successfully commissioned. This expansion adds 20,000 MTPA to the company’s existing capacity, bringing the total specialty chemical capacity at Mundra to 40,000 MTPA.

Sun Pharmaceutical Industries Ltd has said that the Ministry of Corporate Affairs has levied penalties on certain past and present directors and officials, including CMD Dilip Shanghvi, for non-disclosure and not obtaining approval of its board and shareholders for certain related party transactions. “The company has received an order from the Regional Director, North Western Region, Ministry of Corporate Affairs, for alleged violations of certain provisions of the Companies Act, 2013,” Sun Pharmaceutical Industries said in a regulatory filing.

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