Religare Enterprises on Wednesday said its board has directed subsidiary companies to initiate the process for the removal of former executive chairperson Rashmi Saluja from their respective companies. Earlier this month, Religare Enterprises executive chairperson Saluja was ousted as director by the company’s shareholders following the Burman family acquiring a controlling stake in the company. Besides, Religare also directed its subsidiaries to remove Rakesh Asthaana, retired DG, Border Security Force, from the respective boards and committees.
The CEO of Saint-Gobain Asia Pacific and Chairman of Saint-Gobain India, B Santhanam is all set to retire in May this year after serving the French conglomerate for over four decades. In a social media post, he announced that he would be hanging up his boots on May 5, 2025 after a 45-year career with the Saint-Gobain Group.
Wipro will invest $200 million (about ₹1,740 crore) in its arm Wipro Ventures to accelerate its funding for start-ups in the technology innovation space. This marks the fourth funding round for Wipro Ventures since it began operations 10 years ago, and is aimed at speeding up investments in start-ups in the early to mid-stage level, a company statement said.
Star Health and Allied Insurance Company Ltd has expanded its Home Health Care initiatives to 100 locations across the country, the company said on Wednesday. Launched in July 2023, the initiative covers 85 per cent of Star Health Insurance’s customer base, offering cashless doorstep medical care service.
The Assam Government has initiated the development of a ropeway project and has entered into a Memorandum of Understanding (MoU) with GR Infraprojects. The MoU willremain valid for a maximum period of 12 months from the date of signing, unless extended by the state government. The proposed investment in the project is ₹270 crore.
Mastek, a trusted digital engineering and cloud transformation partner, has secured multiple contracts with an estimated value of $85 million, spread over a period of 2 years, from a UK public service department. The contracts are an extension and expansion of the ongoing collaborations that supports the transformation of the department’s Digital, Data, and Technology services, aligned to its strategic priorities.
Zydus Lifesciences has introduced a vaccine for protection against a new strain of influenza virus. The company said it would be the country’s first flu protection quadrivalent influenza virus vaccine made in line with WHO recommended composition. The vaccine will offer seasonal protection against four new virus strains, it added.
IndusInd Bank on Tuesday said tax authorities have slapped a demand notice of about ₹21.62 crore for alleged short payment of GST. The bank received a communication/ demand order on Tuesday from the Deputy Commissioner of State Tax, Gujarat for various GST issues, IndusInd Bank said in a regulatory filing.
NGL Fine-Chem and its promoters have settled a case with SEBI of alleged shareholding disclosure violations by paying a total settlement amount of ₹92.21 lakh. The case was settled by NGL Fine-Chem, along with PCI Ferrmone Chemicals, Rajesh Lawande, and Rahul Nachane. Of the total payment, NGL Fine-Chem paid ₹54.42 lakh, while the other three remitted ₹12.6 lakh each. This settlement followed an application from the entities requesting Securities and Exchange Board of India to resolve the alleged violations under its settlement regulations.
The Securities and Exchange Board of India has imposed a ₹5.05 crore penalty on Indian Clearing Corporation Ltd (ICCL) for non-compliance with cyber security and disaster recovery framework. It has been directed to pay the penalty within 45 days, according to the SEBI order. ICCL was incorporated in 2007 as a wholly-owned subsidiary of BSE Ltd.
Emcure Pharmaceuticals has said the US health regulator has issued two observations after inspecting its Pune-based active pharmaceutical ingredients (API) manufacturing facility. The US Food and Drug Administration (USFDA) conducted a current Good Manufacturing Practices (cGMP) inspection of the plant from February 19-25 this year, the drug firm said in a regulatory filing. At the conclusion of the inspection, the company received two observations in Form 483, it added.
Godrej Properties on Wednesday said it is “surprised” over the CBI registering an FIR against the company for alleged violations of environmental rules in a completed project in Chandigarh and will take steps to protect the interest of the customers. CBI has registered an FIR against Berkeley Realtech Ltd and Godrej Estate Developers for alleged cheating and corruption in developing their project in alleged violation of wildlife laws, an official had said on Tuesday. The CBI acted on the conclusions arrived in a preliminary enquiry registered in 2023 on a complaint from an under secretary at Punjab Raj Bhawan.
Adani Green Energy on Tuesday said its arm, Adani Saur Urja, has bagged an order from Uttar Pradesh Power Corporation (UPPCL) for procurement of 1,250 MW energy storage capacity from pumped hydro storage (PSP) projects. Adani Saur Urja has received a Letter of Award (LOA) from UPPCL in this regard. The capacity is secured through the e-Reverse Auction conducted by UPPCL, a regulatory filing said.
IndiGo (Interglobe Aviation) has said it will induct three more Boeing 787-9 planes in its fleet under a damp lease arrangement with Norse Atlantic Airways, as it prepares to launch flights to Europe from mid-summer this year. Currently, the Gurugram-headquartered airline operates two wide-body Boeing 777 planes, wet leased from Turkish Airlines, to Istanbul from Delhi and Mumbai. Earlier this month, IndiGo had announced signing a deal for one Boeing 787 with Norse Atlantic Airways.
KPI Green Energy has signed a Memorandum of Understanding (MoU) with the Madhya Pradesh Renewable Energy Department, for setting up various solar, wind, hybrid, BESS, and biomass-based projects in Madhya Pradesh.
Tata Power Company has signed a Memorandum of Understanding (MoU) with the Assam Government to tie up and support up to 5,000 MW of renewable and clean energy projects comprising solar, wind, hydro, and energy storage, with an investment of ₹30,000 crore over the next 5 years.
UltraTech Cement, an Aditya Birla Group company, plans to enter manufacturing of wires and cables with an investment of ₹1,800 crore over the next two years. The company will set up its first plant near Bharuch in Gujarat that is expected to be commissioned by December 2026. UltraTech Cement has fixed a share-swap ratio of 1:52 for completing the deal to acquire 10.75 mtpa capacity of the BK Birla Group company Kesoram Industries. The all-share deal was worth ₹7,600 crore. The scheme will be effective March 1.
The Union Government has inked an agreement with Paytm (One97 Communications Ltd) under which the company would provide mentorship, infrastructure support, market access, and funding opportunities to start-ups, an official statement said on Wednesday. The Memorandum of Understanding (MoU) was signed by the Department for Promotion of Industry and Internal Trade (DPIIT) with Paytm to foster innovation and accelerate the growth of manufacturing and fintech start-ups in India, the Commerce and Industry Ministry said.
Varun Beverages, PepsiCo’s largest franchise bottler, on Tuesday extended the deadline for completion of the acquisition of Ghana-based SBC Beverages for a month to March 31. On November 13, 2024, Varun Beverages Ltd (VBL) had entered into a share purchase agreement for the purchase of 100 per cent shares of SBC Beverages Ghana at $15.06 million (₹127.1 crore). The company had estimated to complete the transaction by the end of February 2025.
Star Cement Ltd has proposed to set up a ₹3,200-crore cement clinker and grinding plant in Assam. A Memorandum of Understanding (MoU) in this regard was signed between the state government and the company on the concluding day of the Advantage Assam business summit on Wednesday, Chief Minister Himanta Biswa Sarma said.
Logistics and warehousing manager Welspun One has committed the entire amount of ₹2,000 crore, raised in Fund 2, across nine top quality assets, the company said in a statement. With the entire amount being deployed, the company has launched a co-investment programme with a corpus of ₹1,000 crore and an immediate visibility to raise ₹600 crore. The additional capital will provide Fund 2 with dry powder to tap into a ready pipeline of 5 million square feet, currently at advanced stages of closure, it said