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

RIL, M&M bid for incentives under India’s Rs 18k-cr battery scheme: Report

Indian conglomerate Reliance Industries, South Korea’s Hyundai Motor Co and automaker Mahindra & Mahindra are among companies that have submitted bids under the country’s Rs 18,000-crore billion battery scheme, two sources told Reuters. India last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries as it looks to … Read more

New CFO joins Tata Power. Seems normal course of business.

On October 28, 2021, Tata Power had informed to appoint Mr Sanjeev Churiwala as new Chief Financial Officer (CFO) to replace Mr Ramesh Subramaniam, who was moving into a new role within the Tata Group. Key points to note – Sanjeev has joined the company w.e.f January 1, 2022. He has more than 27 years … Read more