Cipla has received a Warning Letter dated November, 17 (Sunday) from United States Food and Drug Administration (USFDA) for the routine current Good Manufacturing Practices (cGMP) inspection conducted at our Pithampur manufacturing facility between February 6 and 17. This Warning Letter summarises contraventions regarding methods or controls followed at the facility which do not conform to the prescribed cGMP regulations and contains directional guidance for necessary corrections. The company will respond to the Warning Letter within the stipulated timelines and work closely with the USFDA to address the concerns in a holistic and timely manner to ensure sustained compliance, it said. In a separate notice, Cipla said it gave a guarantee worth ZAR 945 million to First Rand Bank, South Africa, for extending general banking facilities to subsidiary Medpro Pharma.
Larsen & Toubro in a notice to the stock exchanges said that Qatar tax authority has imposed ₹111.31 crore penalty for period for financial year 2017 and ₹127.64 crore for financial year 2018. An appeal has been filed against the levy of this penalty as the company believes it is arbitrary and unjustified, it said.
Optiemus Telecommunication Private Limited, a step down subsidiary of Optiemus Infracom Ltd, has filed an application for Manufacturing of IT Hardware Products under the Production-Linked Incentive Scheme 2.0 launched by the Ministry of Electronics and Information Technology.
Exide Industries has settled its long-term dispute for it Chloride trademark. According to the settlement agreement, Vertiv Company Group Ltd UK and Vertiv Energy Pvt Ltd India have conceded and acknowledged that the trademark Chloride and its variants in India rightfully belong to Exide. The Delhi High Court has passed a decree by recording the terms of the Settlement Agreement executed by the parties namely Exide Industries, Vertiv Company Group Limited UK (VCGL), and Vertiv Energy (VEPL), while disposing of the suits pending since 2006. Both VCGL & VEPL agreed that they will not use the said Chloride mark in India, either directly or indirectly, and will withdraw all their claims over this mark in favour of Exide.
Real estate developer Omaxe is planning to launch 1200 acres (approximately) across tier 2 & tier 3 cities in Uttar Pradesh, Madhya Pradesh and Punjab across the next four years with an expected investment of around Rs. 4,000 crore. Tier 2 cities offer higher returns than Tier 1 cities. While we have launched two luxury projects in Lucknow, we are now planning to launch projects in Indore, Ujjain and Ratlam in Madhya Pradesh; Amritsar, Bhatinda and Chandigarh in Punjab and Lucknow, Gorakhpur, Allahabad and Vrindavan in Uttar Pradesh.
The board of capital raising committee of Bank of Baroda has approved the issuance of Tier-II / sub-debt bonds worth ₹2,000 crore with a green-shoe option to raise another ₹3,000 crore. The bank has further decided to issue infrastructure bonds worth ₹2,000 crore with a green-shoe option to raise an additional ₹8,000 crore.
RITES Ltd said that CFM Mozambique has awarded the tender for 10 diesel-electric locomotives with incidental services to RITES at a total value of $37.68 million but the company lost the tender for 300 high-side wagons.
The United States Food and Drug Administration (USFDA) concluded a pre-approval inspection (PAI) of Unit-I & III of formulation manufacturing facility of APL Healthcare, subsidiary of Aurobindo Pharma, in Telangana with zero observations. The inspection, conducted during the November 13-17 period, was closed with “No Action Indicated (NAI)”.
Advik Capital Limited an RBI registered NBFC has firmed up its plan to apply for licence for Alternative Investment Fund Category - II (AIF) with SEBI Alternative Investment Fund Regulations. Advik Capital is aiming to raise up to Rs 250 crore in its Alternative Investment Fund and as sponsor of the proposed AIF has earmarked/is committed to invest 10 per cent of the corpus of the fund.
The American Petroleum Institute has granted License to Birla Corporation Ltd’s Cement Plant at Chanderia - Birla Cement Works - to use official API monogram on manufactured products viz. API Well Cement Class G at Grade(s) HSR from November 17, under the conditions in the official publications of the API and in accordance with the provisions of the License agreement. The Company intends to participate in the tender process for sale of API Well Cement Class G at Grade(s) HSR to cater to the needs of the oil exploration entities.
Zen Technologies Ltd has announced the receipt of an export order valued at approximately ₹42 crore ($5.12 Million). The order win reflects the company’s growing influence and reputation on the global stage. This order, comprising state-of-the-art simulators, is from a friendly nation and stands as a testament to the Indian government’s efforts to boost defense exports, aligning with the national objective of becoming a net defense exporter.
Taylormade Renewables has become an “Industrial Partner” with IOCL for its projects related to Net Zero Carbon Emission & Energy Efficiency Improvement. IOCL will provide its requirement and proposed design which will be implemented by TRL in design and production of such systems and implemented at IOCL and other PSUs. The work order is for a dual axis tracking parabolic dish based Solar Thermal Energy system for process heat to be designed as per IOCL recommendations.
Oberoi Realty Ltd has executed an Agreement for Sale with Ireo Residences Company Private Limited and others for acquiring land admeasuring approximately 14.816 Acres equivalent to 59,956.20 square meters at Sector 58, Gurugram, Haryana. The consideration for the transaction is in the form of event/time linked monetary consideration of upto Rs. 597 Crore, and upto a certain area in the project for the existing homeowners and others, both subject to the terms and conditions of the aforesaid agreement.
Electrosteel Castings Ltd will carry out repairs and maintenance of its Blast Furnace at its Khardah Unit tentatively from November 24. It is expected that the blast furnace would be operational after 3 to 4 weeks. All other units of the Company will operate normally during this period.
NBCC (India) Ltd has entered into the Memorandum of Understanding with Institute of the Chartered Accountant of India (ICAI) whereas the ICAI has agreed to award the work relating to “Planning, Designing and Execution of ICAI’s Buildings & Renovation Works at various location in India” as deposit work on turnkey basis on the terms and Condition set forth and whereas NBCC has agreed to undertake and complete the works accordingly at a PMC fee @ 6.5 per cent (excluding GST) on actual project cost.
Praveg Ltd has announced the opening of its two properties namely Praveg’s Tent City at Ayodhya, Uttar Pradesh, and Beach Resort at Ghoghla Beach, Diu. The properties were operative from the auspicious day of Diwali.
Integra Essentia has announced that its Agro Business bagged advance orders amounting Rs 150+ Million from one of premier business house Sarveshwar Foods Limited, and its material subsidiary M/s Himalayan Bio Orgainc Foods Ltd.
Lupin has received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application for Ganirelix Acetate Injection, 250 mcg/0.5 mL Single-Dose Prefilled Syringe, to market a generic equivalent to the reference listed drug (RLD), of Ganirelix Acetate Injection, 250 mcg/0.5 mL of Organon USA LLC. Ganirelix is Lupin’s first peptide-based injectable, strengthening the Company’s commitment to innovative healthcare solutions. The product will be manufactured at Lupin’s Nagpur unit.
MEP Infrastructure Developers said Ozoneland MEP Solapur Ring Road Pvt. Ltd., Mumbai, has received the Provisional Certificate of Completion of the Project of Improvement to Solapur Ring Road SH-205 Km 0/00 to 28/200, 29/800 to 44/600, 48/400 to 54/150 and 62/00 to 66/550 Tal- North Solapur - Dist. Solapur. (Hybrid Annuity) PN - 153.