The Hindu Business Line : Corporate developments

Coimbatore, March 13 Alok Industries Ltd has informed that the company has taken a 50 per cent stake in Ashford Infotech Pvt Ltd, part of the Ashford Group, through its wholly-owned subsidiary, Alok Infrastructure Pvt Ltd for the joint development of realty projects. Ashford Infotech Pvt Ltd recently purchased 6.92 acre in Bhandup from CEAT Ltd for nearly Rs 130 crore and this is proposed to be the first property to be developed under the joint venture.

Emco Ltd has bagged an order from Corporate Power Ltd, Ranchi, Jharkhand for supply, erection, testing and commissioning of 400 kV double circuit / double strung transmission line on turnkey basis. The value of this project is Rs 92 crore.

Flawless Diamond India Ltd has received an order worth Rs 38 crore for its newly launched series of designer diamond jewellery, AUM Star, AUM Exquisite & AUM Bridal, from Madrid Impex FZE, Dubai.

This order has to be executed within three months. The company had recently launched its eight new series of diamond designer jewellery.

Mahindra & Mahindra Ltd has informed that by an order made on February 29, in the company application, the High Court of Judicature at Bombay has directed that a meeting of the equity shareholders of the applicant company (Mahindra & Mahindra Ltd), be convened and held on April 12 for the purpose of considering and, if thought fit, approving, with or without modification(s), the arrangement embodied in the Scheme of Amalgamation of Mahindra Holdings & Finance Ltd with Mahindra and Mahindra Ltd and their respective shareholders.

Besides equity investment, IFC has also provided Rs 80 crore as a long-term loan and will have the right to subscribe to warrants of up to Rs 5 crore.

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