The board of directors of Elantas Beck India on Tuesday approved selling a property in Pune. The property admeasuring about 6,239 square metres is located at Pimpri Waghere on the Mumbai-Pune Road. The approval is subject to the terms and conditions to be agreed upon in a memorandum of understanding to be executed between the company and the buyer Sukhwani Associates. The company’s board of directors will meet again on July 27 for its final approval of the proposal. Shares of Elantas Beck gained 3.4 per cent at ₹1,629.25 on the BSE.

Modison Metals has signed a memorandum of understanding with Ekaterinburg Non-Ferrous Processing Plant, Russia, to float a joint venture company in India. The company said the proposed JV will manufacture precious-metal products for the electronic and automobile industries in India as well as and sell relevant technology. The Ekaterinburg Non-Ferrous Metal Processing Plant renders full range of precious metals refining and processing services and manufactures industrial use products made of gold, silver and platinum-group metals. Ekaterinburg Non-Ferrous Processing Plant belongs to the Renova Group. Shares of Modison Metals, listed on the BSE, closed 0.5 per cent lower at ₹60.9 on the BSE.

Electrotherm (India) has informed the exchanges that pursuant to a one-time settlement with ICICI Bank (on September 1, 2015), the company paid the entire settlement amount of ₹12.50 crore against outstanding of ₹55.97 crore. ICICI Bank issued a no-dues letter on July 4. Following this, ICICI Bank will take necessary action for withdrawal of litigations related to the recovery application pending before the DRT, Ahmedabad, and criminal case pending before the Metropolitan Magistrate, Ahmedabad.

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