The Board of Directors of Quess Corp has approved a composite scheme of arrangement providing for the demerger of Quess Corp into three independent entities - Quess Corp: Workforce Management (Remaining Company); Digitide Solutions Ltd: BPM solutions, Insurtech and HRO business; and Bluspring Enterprises Ltd: Facility Management, Industrial Services and Investments. Upon effectiveness of the scheme, all shareholders will receive one additional share for each of the new companies, for every share held in Quess Corp Ltd. This process of demerger is expected to take between 12-15 months, to achieve regulatory clearances.

Life Insurance Corporation of India had received refund orders for seven assessment years from 2012-13 to 2019-20. The total amount of refund was ₹25,464.46 crore while the Income tax Department has released ₹21,740.77 crore on February 15. LIC said it is pursuing for the balance with the Income-Tax department.

Drug major Novartis AG on Friday announced a strategic review of Novartis India Ltd, a public company listed on the BSE. The strategic review will include an assessment of the 70.68 per cent shareholding of Novartis AG in the company, the drug firm said in a statement. Novartis India Ltd is separate from Novartis Healthcare Pvt Ltd, the wholly owned subsidiary of Novartis group in India.

Titagarh Rail Systems Ltd has received an order from the Ministry of Defence, Government of India for Procurement of 250 specialised wagons. The order value is approximately ₹170 crore. The execution of the contract is scheduled to start 12 months after the signing of the contract and complete in 36 months.

The board of directors of Balrampur Chini Mills has accorded its approval for a proposal to enter a new line of business to manufacture Polylactic Acid (PLA), to be used for production of bioplastic. This strategic shift is reflected in its engagement with PLA and bioplastics using sugar as a raw material.

Sundaram Alternates Assets (SAA), an arm of Sundaram Finance Group, plans to raise about ₹1,000 crore from global investors to fund green real estate projects in India “This move reflects our commitment to build on our own track record, depth of underwriting and risk management skills in the ever-evolving landscape of Indian real estate credit market,” Sundaram Alternates Assets managing director Vikaas M Sachdeva told PTI here.

Tiger Logistics India on Saturday announced splitting of its shares in the ratio of 1:10 to increase public participation in the company’s shareholding. The company has fixed Mach 4 as the record date to subdivision of shares. The stock is currently hovering around ₹810.

Bandhan Bank on Saturday said that it has been authorised by the West Bengal government to collect tax and non-tax receipts on its behalf. The mandate will enable the bank to collect revenues through the Government Receipt Portal System (GRIPS).

The RBI on Friday advised customers as well as merchants of Paytm Payments Bank Ltd of One97 Communications to shift their accounts to other banks by March 15, giving 15 more days to the beleaguered entity to close most of its operations, including deposit and credit transactions. The earlier deadline was February 29, 2024.

Tata Chemicals on Friday said it has collaborated with IITB-Monash Research Academy to focus on research in the perovskite/clean energy domain. Under this agreement, Tata Chemicals will support the Next-Gen Technology research led by the IITB-Monash Research Academy focused on the transformative potential of perovskite materials in the field of clean energy, the company said in a statement.

Jayant Agro-Organics has received a communication from the Gujarat Pollution Control Board (GPCB), which has directed the Company to cease operations of its plant at Dhanora, Gujarat within 15 days from the order date in light of certain alleged violations of the pollution control norms. The company is studying the Order and shall act appropriately on it. The company takes compliances with the utmost seriousness, and recognises the significance of adherence to regulations.

GP Petroleums has entered into a Distributorship agreement with Noor Trading, Bangladesh. This agreement is effective from February 1 and enables the marketing, advertising, promotion, import, distribution, supply, and sale of ‘REPSOL’ products in Bangladesh. These products are manufactured and marketed by GP Petroleums under the license from Repsol Lubricantes Y Especialidades SA, Spain.

Clean Fino-Chem Ltd, wholly owned subsidiary of Clean Science and Technology Ltd, inaugurated its new manufacturing facility at MIDC Kurkumbh, Pune. The commercial production of Hindered Amine Light Stabilizer (HALS Series) will commence in due course of time, the company said.

Paradeep Phosphates has shut down the NPK - A plant located at Goa to carry out the regular annual maintenance activities.

Ginni Filaments has transferred the Spinning, Knitting and Processing Undertaking at Chhata, Kosi, Mathura (UP) as a going concern on a slump sale basis with effect from February 16, subject to a few conditions which have been mutually agreed between the RSWM Ltd and the company to be completed shortly.

Euphoria Infotech India Limited has bagged an order worth gross value ₹245.32 lakh from Webel Technology Limited. The company shall be preparing a SaaS based software for online admission and student lifecycle management along with resident engineer for a period of seven years. The said services shall be provided to the Rabindra Bharati University, Kolkata. Webel Technology is a nodal agency for the Government of West Bengal for implementation of IT and ITes.

Panabyte Technologies (formerly Panache Innovations Limited) has received a work order from Mahindra & Mahindra to provide AMC and FMS support and engaged the company for providing services/products . The order for supply of Surveillance Products, Biometric and Door Access Control and Time Attendance Management is valued at aprox ₹8 crore.

Pursuant to the approval of the members of Ace Software Exports Ltd at the Extraordinary General Meeting, the company has successfully invested in/acquired a 40 per cent stake in Ace Infoway Private Ltd for a total consideration of ₹8.60 crore. The company in order to add a new growth driver both domestically and globally have decided to acquire 40 per cent stake in Ace Infoway Private Ltd.

CFF Fluid Control has received a contract from Naval Ship Repair Yard, Naval Base, Karwar for RRC for Routines & Repairs of Hull Valves And Doublers onboard P-75 Class Submarines totaling to approx. ₹4.14 crore.

Techknowgreen Solutions Limited has received a Work order amounting to ₹9.81 crore + applicable taxes from Maharashtra Pollution Control Board (MPCB). The order is for Evaluation of Air Quality in different Indoor Environments in Mumbai Metropolitan Region (MMR); Representative of Maharashtra State with Special Reference to Non-Attainment Areas & Critically/severely impacted areas; and Formulation of Best Practices for better Indoor Air Quality (IAQ).

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