Tata Motors has incorporated a wholly owned subsidiary Tata Passenger Electric Mobility Limited. The Ministry of Corporate Affairs, Government of India, has issued the Certificate of Incorporation on December 21. TPEML has been incorporated to manufacture, design, develop all kinds of services related to electric vehicles/electric mobility, hybrid electric vehicles of all kinds and all descriptions for carrying passengers or other personnel, whether propelled, moved, drawn or assisted by means of electricity, battery, solar energy, or any other power devices whatsoever; engines, motors, parts, components, accessories and related equipment thereof, as well as activities required for establishing and undertaking the assembly, manufacture, fabrication, sales, after sales services, marketing, promoting and/or servicing facilities.

Vedanta proposes to offer rated, secured, redeemable, non-cumulative, non-convertible debentures aggregating upto ₹1,000 crore in one or more tranches. The board will meet on December 27 to consider the proposal.

Kotak Mahindra Prime Limited, a subsidiary of Kotak Mahindra Bank Limited, has acquired the passenger vehicle finance portfolio of Ford Credit India Private Limited (FCIPL), the Indian captive financing arm of Ford Motor Company. FCIPL has been operating in India since 2015. The acquisition gives Kotak Prime access to over 16,000 high-quality customers with a total loan outstanding of ₹425 crore. FCIPL customers will transition to Kotak Prime in a planned manner over the next few months.

GPT Infraprojects Limited has bagged an order worth at ₹187.81 crore. The order has been received from Office of the General Manager, Tender & Contract, Maharashtra Rail Infrastructure Development Corporation Ltd, for construction of cable stayed road over Bridge (ROB) near Byculla railway Station. The company has current orders in hand of nearly ₹2,072 Crore including cumulative order inflow of ₹188 crore in the current financial year.

Nucleus Software Exports Ltd - FPT Information System (FIS) Consortium, the leading provider of lending and transaction banking products to the global financial services industry, has been awarded the contract for its retail loan origination system by Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank - VCB). FinnOne Neo will help VCB to provide end-to-end digitisation and launch innovative loan products, optimise customer on-boarding process, standardise credit appraisal processes and provide flexible loan reports.

HFCL Ltd has received the Purchase Order (PO) of ₹119.14 crore, from one of the network and engineering service provider, for supply of Optical Fibre Cables (OFC). The contract is to be executed within Nine months.

Gulshan Polyols, which had approached Hongkong and Shanghai Banking Corporation Limited for availing a term loan of Rs 170 crore for setting up of an Ethanol Project of 500 KLPD capacity at Boregaon, Madhya Pradesh, has received sanction letter on December 21, 2021 from HSBC.

PSP Projects has informed the exchanges that Gujarat Pollution Control Board has granted a Consent to Establish (NOC) for setting up of Industrial Plant for Manufacturing of Precast on December 21 and the company has started manufacturing activities. The Consent to Establish (NOC) is valid upto November 3, 2028.

Nirlon has announced that the interest rate on the company's debt taken from HDFC Ltd has been reduced from 6.60 per cent to 6.50 per cent p.a. effective from December 16.

Mega Corporation Limited has decided to make an Investment (Capital Contribution) in Mega Luxuries & Hotels LLP upto ₹2 crore in multiple tranches.

The Board of Ceinsys Tech Limited has approved the acquisition of 100% equity stake in Allygrow Technologies Private Limited from its existing shareholders for a total consideration not exceeding ₹68.06 crore. The consideration will be paid partly by cash (11.79 crore) and remaining through equity shares (₹56.27 crore).

Dhanlaxmi Bank had sent proposal for One Time Settlement (OTS) for a consolidated agreed amount of ₹1.5 crore to be paid in instalments by March 31, 2022. Intec Capital has accepted the said proposal today via acceptance letter given to the Bank.

Modi Naturals has decided to establish an Ethanol Plant in Chhattisgarh. For the project, MNL has incorporated a 100 percent subsidiary (wholly owned subsidiary) called Modi Biotech Private Limited. MBPL has received an in-principle approval for a 210 KLD distillery for the manufacture of ethanol from the Central Government, along with signing an MOU with the Chhattisgarh Government. The investment over the next two years is expected to be approximately ₹250 crore, with the first phase of 110 KLD being completed within a year with an investment of ₹160 crore. The project will be funded with a combination of internal accruals & debt for which the company has already received the inprinciple approval from its banks.

Vivanta Industries has received a Letter of Intent from Vitaanova Healthcare Uganda Limited for execution of a pharmaceutical project for manufacturing tablets, capsules and oral liquids on a turnkey basis including planning, designing, engineering, construction, supply, installation and commissioning of plant and machinery along with obtaining WHO approval. The entire project with an aggregate value of $5.9 million (approximately ₹44.60 crore) is to be completed within a period of 18 months from the date of signing the contract.

The Board of Directors of ABB India has approved the incorporation of a wholly owned subsidiary and sale of company's Turbocharger Business as a going concern, on a slump sale basis to its wholly owned subsidiary for a consideration of ₹310 crore. The Slump Sale will be consummated by end of February.

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