Syngene International on Monday said Jonathan Hunt has stepped down as MD & CEO as well as from the company’s board with immediate effect to pursue other opportunities. Consequent to this, the board has appointed Peter Bains as the CEO Designate, the contract research, development and manufacturing organisation (CRDMO) said in a statement. Both changes are effective February 10, it added.
Indian Hotels Company has announced a ₹2,500-crore investment to develop a new 330-room property in Mumbai. Construction of the new property, “Taj Bandstand,” is set to begin this year and is expected to take over three years to complete, IHCL’s Managing Director and Chief Executive, Puneet Chhatwal, said. The facility will create direct employment for 1,000 people; along with the indirect employment generated, the hotel will create overall employment for over 7,000.
IndusInd International Holdings Limited (IIHL) is set to acquire the debt-ridden Reliance Capital by February 26 as the National Company Law Tribunal (NCLT) on Monday accepted the acquiring company’s request. During the hearing, sources said, IIHL confirmed submission of all definitive documents and achieving financial closure towards implementation of the resolution plan of Reliance Capital.
Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain, is trying to negotiate a settlement with its creditor IDBI Trusteeship Services in parallel to the ongoing proceeding before insolvency appellate tribunal NCLAT. On August 14, 2024, the National Company Law Appellate Tribunal (NCLAT) stayed the insolvency proceedings initiated against CDEL by NCLT over the plea of DBI Trusteeship Services Ltd (IDBITSL).
Reliance Consumer Products, subsidiary of Reliance Industries, has launched sports hydration drink Spinner, along with former Sri Lankan cricketer Muttiah Muralitharan. Spinner is being offered at Rs 10 for a 150 ml bottle, relatively lower than the other products in the segment.
Oil and Natural Gas Corporation (ONGC) and BP have agreed to explore opportunities for collaboration and partnership across the energy industry in India and internationally, focusing on oil and gas exploration and production, as well as trading and extending to other energy vectors. The two companies signed a memorandum of understanding (MoU) on Monday ahead of the India Energy Week.
Lupin has received approval from the USFDA for ipratropium bromide nasal solution (nasal spray) to market a generic equivalent of Atrovent nasal spray, 0.03%, of Boehringer Ingelheim Pharmaceuticals, Inc.
The board of Mankind Pharma has approved the sale of entire stake held by the company in Mahananda Spa and Resorts Private Ltd, a wholly-owned subsidiary company, to Chalet Hotels, at an enterprise value of ₹530 crore.. The proceeds of monetisation of non-core assets to be utilised to retire part of its debts, the pharmaceutical major said in a notice to the exchanges.
The Board of Sona BLW Precision Forgings has approved Amendment and Restatement of the Business Transfer Agreement (BTA) executed with Escorts Kubota Ltd (Escorts Kubota). Earlier, onOctober 23, the board had granted “Approval for acquisition of Railway Equipment Division (RED) business of Escorts Kubota and execution of the BTA”. Accordingly it executed an agreement for purchase of land parcel in Faridabad.
