Welspun Michigan Engineers Restricted (WMEL), a subsidiary of Welspun Enterprises Restricted (WEL) has been awarded a contract by the Brihanmumbai Municipal Company (BMC) for the design and development of the Mogra Storm Water Pumping Station in Ok/W Ward, Mumbai. The Engineering, Procurement, and Building (EPC) contract, valued at ₹290.88 crore (together with GST) contains the design and development of a state-of-the-art storm water pumping station, full with mechanical, electrical, and automation methods. Moreover, the contract encompasses a complete operations and upkeep (O&M) section for seven years. The venture is scheduled for completion inside 20 months.
Life Insurance coverage Company of India (LIC) on Wednesday mentioned it has obtained a requirement discover of about Rs 105.42 crore for brief fee of Items and Providers Tax (GST) for seven monetary years. The corporate has obtained a communication/demand order for curiosity and penalty for a number of states on February 5, LIC mentioned in a regulatory submitting. The order is appealable earlier than the Commissioner (Appeals), Lucknow, it mentioned.
Patanjali Group on Wednesday mentioned it has partnered with IBSFINtech for the deployment of built-in treasury administration options for digital transformation. “As a world model, this collaboration reinforces our dedication to harnessing cutting-edge options…It aligns with our world enlargement targets and addresses rising complexities of worldwide operations, foreign exchange administration, hedging methods, and market volatility,” Patanjali Meals CEO Sanjeev Asthana mentioned in a press release.
Apollo Micro Methods Restricted has entered right into a consortium settlement with Redon Methods Pvt Ltd. to collaborate on a producing partnership. The target of this consortium is to leverage the mixed manufacturing capabilities of the for the procurement of Containerised Computerized Touchdown Module methods.
GE Energy India has obtained a purchase order order from NTPC, for an quantity of ₹13.75 crore (excluding 18% GST). The order needs to be executed inside 40 weeks.
The board of Welspun Corp has permitted sale of 1,900 fairness shares holding 19 per cent stake in Welassure Non-public Ltd for ₹0.95 crore to Rakshak Securitas Non-public Restricted which isn’t a associated social gathering. It additionally permitted an funding of as much as ₹250 crore in its subsidiary firm ‑ Welspun Specialty Options Restricted (WSSL) in the direction of the subscription beneath the Rights Problem of fairness shares as introduced by WSSL.
UltraTech has commissioned an extra 0.6 mtpa grinding capability at its current unit located at Sonar Bangla, West Bengal. The extra capability will assist UltraTech to service composite cement demand within the East area and also will assist to extend its blended cement ratio. Consequent to this, the Firm’s whole home gray cement manufacturing capability stands at 166.31 mtpa. Together with its abroad capability of 5.4 mtpa, the Firm’s world capability stands at 171.71 mtpa.
Container Company of India has infomred the exchantes that the Joint Commissioner of GST and Central Excise, Mumbai South Commissionerate (GST Division) has raised demand of GST for FY 2017-18 to 2022-23 of ₹13.17 crore plus penalty of ₹13.17crore.
Religare Enterprises on Wednesday mentioned its unbiased director Hamid Ahmed resigned from the board of the corporate. Ahmed, who’s CEO of Hamdard Laboratories India, Meals Division, ceased to be non-executive unbiased director of the corporate from February 4. He has tendered his resignation from the Board of Administrators with instant impact, attributable to growing scope of labor in his household enterprise, Religare Enterprises mentioned in a regulatory submitting.
Diversified conglomerate ITC Restricted on Wednesday introduced the opening of its world centre of excellence for Synthetic Intelligence (AI) within the metropolis. The centre was just about inaugurated by West Bengal Chief Minister Mamata Banerjee throughout the Bengal World Enterprise Summit. ITC chairman and managing director Sanjiv Puri highlighted Bengal’s potential for funding, noting that the agency, headquartered in Kolkata, has made vital investments in sectors comparable to hospitality, manufacturing, IT, and agriculture.
JSW Group has expressed curiosity in coming into the airport infrastructure and administration sector, with a give attention to buying a stake in Andal airport in West Bengal’s Durgapur, its chairman Sajjan Jindal mentioned on Wednesday. On the finish of the day’s session of Bengal World Enterprise Summit (BGBS), Chief Minister Mamata Banerjee mentioned Jindal was eager on upgrading Andal airport into a world airport. Jindal, who was in Kolkata, held discussions with two key stakeholders—the West Bengal authorities and SMIFS Capital—concerning the proposed stake acquisition.
InterGlobe Aviation (IndiGo) has knowledgeable the exchanges that it obtained a discover with penalties totalling ₹115.87 crore from the GST authorities. The penalties embrace ₹113.02 crore imposed by the Further Commissioner of Central Items & Service Tax — Delhi South Commissionerate, and ₹2.84 crore by the Joint Commissioner of GST & Central Excise – Chennai South – Tamil Nadu. The violations, as per the authorities, are primarily associated to the levy of GST on providers supplied to offshore recipients, which the division has decided isn’t an export of providers.
The board of Information Edge has permitted to enter right into a contribution settlement with the IE Enterprise Funding Fund III, a scheme to be launched by Karkardooma Belief. The corporate plans to commit as much as ₹1,000 crore to the fund, both instantly or by means of its wholly-owned subsidiaries, pending approval from SEBI and the shareholders of Information Edge. It’s proposed that Smartweb Web Providers Ltd., an entirely owned subsidiary of the Firm, (Smartweb) will act because the Sponsor and Funding Supervisor of the mentioned Belief and all its schemes, it mentioned.
Outcomes calendar: Aadhar Housing Finance, Akums, Andhra Paper, Apollo Tyre, Aurobindo Pharma, Bajel Initiatives, Bharat Dynamics, BEML, BSE, Bharti Airtel, Bharti Hexacom, Bikaji Meals, Britannia, Automotive Raro, Chambal Fertilizers, Cochin Shipyard, DCX India, Enviro Infra Engineers, Emcure, Expleo Options, Finolex Pipes, GMM Pfaudler, Goodluck India, Grauer & Weil, Greenpanel, Gulf Oil Membership, Hero MotoCorp, India Shelter, ITC, JK Lakshmi, Kennametal, Kalyani Funding Firm, KIMS, KP Vitality, KPI Inexperienced, KRBL, Mangalam Chemical substances, Minda Corp, Morepen Lab, MRF, Motherson Sumi, Muthoot MF, NCC, NMDC Nocil, NMDC Metal, Orient Tech, Paramount Communications, PG Electroplate, PI Industries, Prism Johnson, PVR INox, Ramco Cement, Râne Holdings, REC, Rupa, Săi Life, Sapphire, SBI, Sobha, Somany Ceramics, Sonata Software program, Surya Roshini, TARC, TCI Specific, TD Energy Sys, Trent, Unichem Lab, Uniparts, Uno Minda, Webel Photo voltaic and ZFCV India
