Lemon Tree Hotels Limited’s step down/material subsidiary Iora Hotels Private Limited has received “Occupancy Certificate” from Mumbai Metropolitan Region Development Authority for its hotel located near Mumbai International Airport, Mumbai. The Occupancy certificate shall remain valid until cancelled/withdrawn by Authorities. The proposed hotel will comprise 669 rooms which shall be named “Aurika, Mumbai Skycity” and once operational shall increase the total number of owned/leased rooms of the Company by about 13 per cent. In a separate notice, the hotel major also said that its License Agreement for Keys Prima, Aketa, a 40-room hotel, operated under the Company’s brand has been terminated with the mutual consent of all the parties. The aforesaid hotel earned total income of Rs. 25 Lakhs (approx.) during the Financial Year 2022-23.
As a forward integration step, Senco Gold Limited, has announced the soft launch of – ‘SENNES-Leather Bags & Accessories’ in few stores.
IHC’s investment in Adani Enterprises Ltd has crossed the 5 per cent mark. “We see IHC’s increased stake as a ringing endorsement of our robust capex plans, governance and transparency,” AEL said.
Bajaj Finance Limited has said that customer franchise as of September 2023 stood at 76.56 MM as compared to 62.91 MM as of 30 September 2022. In Q2 FY24, the customer franchise increased by 3.58 MM. New loans booked during Q2 FY24 grew by 26% to 8.53 MM as compared to 6.76 MM in Q2 FY23; and Assets under management (AUM) grew by 33 per cent to approximately ₹290,200 crore as of 30 September 2023 as compared to ₹218,366 crore as of 30 September 2022. AUM in Q2 FY24 grew by approximately ₹20,100 crore.
The shareholders of Muthoot Finance Limited in the Annual General Meeting have via Special Resolution increased the borrowing powers of the Board of Directors of the Company to ₹100,000 crore.
Shri Dinesh Mills Ltd has executed the Term Sheet in favour of Beacon Construction, Vadodara (not a Related Party), for sale of surplus industrial land at Atladra, Vadodara admeasuring 16208 Sq. meters for a consideration of ₹45.75 crore. The company has received token amount of ₹2.51 crore and the balance amount will be received on or before March 31.
The Ministry of Corporate Affairs has approved incorporation of Neun Infra Private Ltd with pending PAN allocation. The Company is yet to receive the Certificate of Incorporation (COI) of the said new entity which will be a Wholly Owned Subsidiary of Archean Chemical Industries Limited in Tamil Nadu.
Maruti Suzuki India has received draft Assessment Order for FY20, disallowing certain additions amounting to ₹2,159.7 crore with respect to returned income (the income disclosed by the company in its income tax return) have been proposed. The company will file its objections before the Dispute Resolution Panel. There is no impact on financial, operational or any other activities of the company due to this draft Assessment Order.
Varroc Engineering Limited’s material subsidiary viz. Varroc Polymers Limited has entered into Power Purchase Agreement with AMP Energy C&I Six Private Limited and AMP Energy C&I Five Private Limited respectively, for establishing Renewable Power Plants in Karnataka and Tamil Nadu having captive capacity of 30 MWp and 21 MWp respectively, under Captive Power Scheme and further in process of acquiring 1 per cent and 3 per cent stake in the said SPVs respectively. The total investment will be up to ₹40 lakh and ₹80 lakh in the SPVs in Karnataka and Tamil Nadu respectively.
Crisil has upgraded its rating on the bank facilities of Thomas Cook (India) Limited (TCIL), India’s leading omni-channel travel services company, at ‘CRISIL AA- / Stable / CRISIL A1+’.
Life Insurance Corporation of India has received an order from the Income Tax Authority, demanding a penalty of ₹84.02 crore. The Corporation has received notice for the assessment years 2012-13, 2018-19 & 2019-20.
ICICI Bank Ltd has allotted 4,00,000 senior unsecured redeemable long-term bonds in the nature of nonconvertible debentures aggregating to ₹4,000 crore on private placement basis, the date of allotment being October 3, 2023. The bonds are redeemable at the end of 10 years (redemption date being October 3, 2033). There are no special rights/ privileges attached to the bonds. The bonds carry a coupon of 7.57% p.a. payable annually and were issued at par. The bonds would be listed in the relevant segment of the NSE.
Bajaj Allianz General Insurance Company Limited, an unlisted material subsidiary of Bajaj Finserv Ltd, has received a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, Pune Zonal Unit, under Section 73(1) of the Central Goods and Services Tax Act, 2017, alleging a tax demand of ₹1,010.06 crore.
Pidilite MEA Chemicals LLC, a wholly owned subsidiary of Pidilite Industries Limited, and Corporacion Empresarial Grupo Puma SL, Spain, have incorporated a joint venture Company in UAE – “PidilitePuma MEA Chemicals LLC to carry on the business of manufacture of construction chemicals. Each of Pidilite MEA and Grupo Puma, Spain will hold 50 per cent of the paid up capital in PidilitePuma.
Sasken Technologies Ltd has announced a collaboration with Qualcomm Technologies, Inc., a pioneer in wireless technologies, through the Qualcomm IoT Accelerator Program. This collaboration marks a significant milestone in the realm of Internet of Things (IoT) innovation and underscores both companies’ commitment to shaping the future of connected devices and services.
The Board of Directors of Raymond Limited has approved to invest an amount up to ₹301 Crore in one or more tranches in Ten X Realty Limited, a step down wholly owned subsidiary of the Company. Out of the said investment, the company will invest up to ₹125 crore in the form of Redeemable Preference Shares which would be subject to such terms as may be finally decided and agreed. Balance amount of ₹176 Crore will be invested by providing Inter Corporate Deposit (ICD) to TXRL.
The Avenue Supermarts (D-Mart owner) has reported standalone revenue from operations at ₹12,308 crore for the quarter ended September FY24, up 18.5 per cent over ₹10,385 crore in same period last year. The total number of stores as of September 2023 stood at 336.
Titagarh Rail Systems has signed a contract worth ₹857 crore with the Gujarat Metro Rail Corporation. The company will manufacture 72 numbers of standard gauge cars for the first phase of Surat Metro Rail. The execution of the contract is slated to commence 76 weeks after the signing of the contract and is expected to be completed in 132 weeks thereafter.