Adani, L&T among 18 firms to show interest in BSES smart meter tender

The five million smart meter tender issued by Reliance Infrastructure’s BSES Limited has received interest from close to 18 companies, company executives have said. Among the firms that have come forward during the Expression of interest (EoI) round are leading Indian companies such as HPL, Secure Meters, Adani Transmission, L&T. Finland-based Wirepas, EDF France, Enel … Read more

ED raids JSPL offices over suspected violation of FEMA regulations

As per newspaper reports, Enforcement Directorate conducted searches at JSPL’s New Delhi and Gurugram offices. On exchanges’ seeking confirmation about the newspaper reports from the Company, JSPL did confirm that ED had visited the two offices and all the requisite information has been provided. The Company further informed, that it has an exemplary track record … Read more

KPTL decides to consolidate. To merge JMC, a subsidiary.

Kalpataru Power Transmission (KPTL) has announced to merge it’s subsidiary, JMC Projects with itself. Key points to note – KPTL currently owns 67.75% of JMC. It’s an equity merger and the swap ratio is determined as 1 share of KTPL for every 4 shares of JMC. Their respective last closing prices were Rs 389 and … Read more

PTC Indian Financial Services sees unprecedented resignation by all the Independent Directors. Must be looked into by regulators urgently.

All 3 independent directors of PTC Indian Financial Services (PFS) have resigned citing corporate governance concerns. I don’t remember something like this happening before. Key points to note – PFS is the NBFC subsidiary of PTC India (65% ownership) Independent directors have raised corporate governance concerns especially on the MD & CEO of PFS, Pawan … Read more