Tata Motors has entered into share purchase agreements for sale of 9.9 per cent stake in its subsidiary Tata Technologies for Rs 1,613.7 crore. While TPG Rise Climate SF Pte Ltd, a climate focused private equity fund, is buying nine per cent stake in Tata Technologies, Ratan Tata Endowment Foundation acquiring 0.9 per cent stake.
Tata Consultancy Services on Sunday said that it has sacked 16 employees and six firms were disbarred by Tata Consultancy Services after the IT major’s investigation into the bribes-for-jobs scandal, the company said in an exchange filing on October 15. The investigation closure report comes months after the company looked into practices where staffing firms were allegedly involved in bribing senior executives overseeing recruitment processes in the company to get business. It took action against 19 employees in total -- 16 of whom were sacked and three removed from the function.
Fabelle Exquisite Chocolates, the home-grown luxury chocolate brand from ITC Ltd, has introduced its latest innovation - Fabelle One Earth Collection.
Deltatech Gaming, a subsidiary of the casino gaming company, has received an intimation for payment of shortfall tax under the CGST Act and West Bengal GST Act, from the Directorate General of GST Intelligence, Kolkata. The amount of alleged tax shortfall is Rs 6,236.81 crore for the period between January 2018 and November 2022, and Rs 147.51 crore for July 2017 to October 2022 period.
Skipper Limited has announced its recent accomplishment of securing new order wins / notification of awards (NOA) of Rs 588 crore - Orders in the Domestic T&D business of Rs 468 crore from PGCIL and other customers and \ International T&D business of 120 crore.
The Securities and Exchange Board of India has confirmed its interim order barring Eros International Ltd., Managing Director Sunil Arjan Lalla, and Chief Executive Officer Pradeep Dwivedi from the securities market. According to the regulator, they failed to provide any cogent reasoning “about the prima facie findings in the interim order, including the allegations of siphoning off funds to related or promoter-controlled entities, overstatement of books of accounts of Eros etc”. Therefore, there are no compelling reasons to modify the interim order, says SEBI. An investigation will be conducted by SEBI into the matter within six months, the order further said.
The Ministry of Corporate Affairs, Hyderabad, has initiated investigation of books of accounts and other books and papers of Mumbai International Airport (MIAL) and Navi Mumbai International Airport (NMIAL), step-down subsidiaries of Adani Enterprises. Ministry of Corporate Affairs sought information and documents pertaining to the prior period starting from 2017-18 to 2021-22. Adani Enterprises completed acquisitions of MIAL and NMIAL during the year financial year 2021-22.
Bajaj Electricals has received a supply of services contract worth Rs 564.2 crore from Power Grid Corporation of India for and on behalf of its SPV (special purpose vehicle) Ananthpuram Kurnool Transmission.
The Reserve Bank of India (RBI) imposed a penalty of Rs 1 crore on Union Bank of India, Rs 64 lakh on RBL Bank and Rs 8.50 lakh on Bajaj Finance for non-compliance with RBI guidelines.
NBCC (India) has received a work order from Visakhapatnam Port Authority aggregating to Rs 80 crore,
NHPC in a notice to the stock exchanges said that it expects loss or damage of Rs 788 crore caused by flash floods at Teesta basin. Mmaterial damage stood at Rs 297 crore while business loss of Rs 491 crore. Assets and business interruption loss of power station is insured under mega insurance policy, it further said.
Ramco Industries said that the Corporate Guarantees issued in favour of Axis Bank Rs 36.29 crore and ICICI Bank Rs 10 crore on behalf of Sri Harini Textiles Ltd, have been discharged by the said Banks in view of the closure of the loans by Sri Harini Textiles Ltd.
Tinplate Company of India Limited has received an Order from Commissioner of Commercial Taxes, Ranchi, remanding the tax matter to the lower court for fresh assessment.
Earlier, it haddisclosed details of commercial tax litigation, pending appeal before the Commissioner of Commercial Taxes, Ranchi, contesting the demand order of ₹13.31 crore FY 2016-17, passed by Deputy Commissioner of Commercial Tax, Jamshedpur.
SAIL plans to start the trial production of head hardened (HH) rails, used in metro rail and freight corridor projects, by month-end, a PTI report quoting its Chairman Amarendu Prakash, has said.
The steel PSU was earlier looking to start the trial production of HH rails in August but deferred it due to the demand for normal rails like 880 grade from the Indian Railways.
Ashok Leyland has bagged an order from the Tamil Nadu government for the supply of 1,666 buses at a cost of ₹371.16 crore. The State government has placed the order on behalf of its various State Transport Undertakings. The order is for the procurement of BS VI bus chassis.
Zee Entertainment Enterprises has informed BSE about Board Meeting to be held on October 20 to consider financial statements for the period ended September 2023. Financial results is Re-schedule and to be held on October 18.
Results Calendar: Artson Engineering, Bank of Maharashtra, CEAT, Choice International, Cyient DLM, DMR Hydroengineering Infrastructures, Federal Bank, HDFC Bank, ICICI Securities, Indbank Merchant Banking Services, Ind Bank Housing,Jai Balaji Industries, Jio Financial Services, Martin Burn,NELCO, Nath Bio-Genes, Oriental Hotels, PNGS Gargi Fashion Jewellery, Selan Exploration Technology, Tinplate Company of India, Transoceanic Properties, Unistar Multi Media and Yatra Online.