Larsen & Toubro informed the exchanges that the Bombay High Court has quashed a ₹2,237-crore GST demand raised against the company. “The Company had filed a Writ Petition in the Bombay High Court against the show cause notice issued by the Principal Commissioner of GST and Service Tax, Mumbai towards Service tax demand of Rs 2,237 crore, on an erstwhile subsidiary, in respect of Tax already paid by the Company with respect to certain transactions undertaken post demerger,” L&T said in an exchange filing.
Competition Commission of India (CCI) has approved the proposed combination involving acquisition by Advent (through Rasmeli) in Apollo Healthco, acquisition by Apollo Healthco in Keimed and Merger of Keimed into Apollo Healthco. Rasmeli proposes to make a minority investment in Apollo Healthco Ltd (AHL ) over two tranches along with certain rights in AHL. Rasmeli Limited (Rasmeli) is an entity incorporated in Cyprus with the principal activity of holding investments and has no activities or presence in India.
The board of Weizmann has approved a proposal for buyback of up to 3,65,169 lakh shares on a proportionate basis, through the “tender offer” route, at a price of ₹160 for an aggregate amount not exceeding ₹5.84 crore.
Prism Johnson has completed the modernisation of its tile production plant situated at Vijaywada, Andhra Pradesh, to manufacture higher value product, ahead of schedule. The total tile production capacity of H&R Johnson (India) Division of the Company (along with the joint ventures) will change from around 67 million meter square p.a. previously to about 64 million meter square. The reduction in annual tile production capacity would not have any adverse impact on overall sales of HRJ Division of the Company
Updater Services has increased the investment in Denave India Pvt Ltd, Material subsidiary company from 67.27 per cent to 89.57 per cent by acquiring 37,48,614 shares from its promoters and other shareholders. The subsidiary of UDS, Matrix Business Services India Private Limited holds 10.43 per cent in Denave. In a separate notice, the company saidit has received an order from the office of Deputy Commissioner, Bengaluru, Karnataka, for an amount of ₹1,21,63,262.
Genus Power Infrastructures Limited’s wholly owned subsidiary has received three Letter of Awards (LOA) worth ₹3,608.52 crore (net of taxes) for appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about 4.26 million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.
GE T&D India informted the exchanges that its promoters GE Grid Alliance B.V. and Grid Equipments Private Limited are in the process of reviewing their shareholding structure in the company and are evaluating the possibility of a minority stake sale. However, the promoter group has expressed its “strong intention to continue as the majority shareholder block of the company”.
The board of Sansera has approved raising of up to ₹1,200 in one or more tranches by issue of equity shares and/or any other instruments or eligible securities by way of further public issue, debt issue, preferential allotment, private placement or qualified institutions placements. The board has also approved additional investment of ₹20 crore in MMRFIC Technology Private Limited in one or more tranches by way of CCPS.
The board of Directors Cyient has approved the sale of up to 1,14,99,390 shares i.e. approximately 14.50 per cent of the total outstanding equity shareholding of its subsidiary, Cyient DLM by way of a share sale utilising the block deal window mechanism provided by the stock exchanges (in one or more tranches). The expected date for completion of the sale/ closing is August 21 or such date as mutually agreed between the company and the buyer.
CESC has said that Purvah Green Power Private Limited, a subsidiary of the company, has incorporated a wholly owned Subsidiary – Ecofusion Power Private Limited, which will explore opportunity in renewable power sector.
Market buzz is that General Atlantic Singapore Fund FII Pte likely to sell 5.1 per cent stake in PNB Housing via block deals. The likely floor price is pegged at ₹775 a share and the total offer size is set to be ₹1,032.7 crore.
NHPC informed the exchanges an incident of landslide at NHPC 510 MW Teesta-V Power Station (Sikkim) due to subsidence/landslide over Tail Race Tunnel (TRT) outlet structure and behind GIS Building. This has affected TRT Gate hoist structure and part of the GIS Building. The power station is currently not operational and undergoing restoration works after flash flood of October 2023. NHPC’s expert team from Corporate Office is visiting the power station to assess the situation, assessment of losses and plan for remedial works.
RMC Green Energy Pvt Ltd, a subsidiary of RMC Switchgears Limited, has secured approval from the Rajasthan Renewable Energy Corporation to establish a 50 MW Renewable Energy Park in Rajasthan under the Rajasthan Renewable Energy Policy 2023.
Exide Industries has invested about ₹75 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions Limited on rights basis. With this investment, the total investment made by the company in EESL stands to ₹2,652.24 crore.There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.
BGR Energy has received intimation of termination of contract from Jharkhand Urja Sancharan Nigam Limited with respect to Supply, Installation, Testing and Commissioning of 132/33 kV GIS at Sarath, Sundernagar and Chattarpur.
