The Employee's Provident Fund Appellate Tribunal vide its order dated August 16 admitted the appeal filed by B.L. Kashyap and Sons Ltd and stayed the operation of the order of Assistant Provident Fund Commissioner, New Delhi, subject to the company depositing Rs 15 crore within two months. The tribunal has also directed the APFC not to take any coercive measures till the disposal of the appeal.
Indian Metals & Ferro Alloys Ltd 's 30 MW dual-fuel captive power plant was commissioned on August 23 and has been synchronised with the grid. The unit is running smoothly and load will gradually be increased, and the company expects stable operations at optimal load within a month.
Nitesh Urban Development Private Ltd , a subsidiary of Nitesh Estates Ltd, has signed a joint development agreement for development of 700,000 sq. ft of residential apartment space on Sarjapur Outer Ring Road, Bangalore, adjacent to the IT hub, yielding revenue of Rs 300 crore over the next two-three years adding significant income on consolidated basis to the company.
SpiceJet Ltd has denied that it was in discussions with private equity company TPG Capital for stake sale and said that “it cannot comment on market rumours and speculative reporting”.
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