The Paytm brand, nor its Founder and CEO Vijay Shekhar Sharma for money laundering, the company said on Sunday. The ED had visited premises of the company and some other fintech firms like Razorpay in September 2022 for money laundering investigations against some of the merchants that were using their platforms. Meanwhile, the BSE reduced the circuit limit of the stock movement from 20 per cent to 10 per cent.
Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for the production of refined copper with 1 million tonnes per annum capacity in two phases. For Phase-1, capacity of 0.5 million tonnes per annum, KCL achieved financial closure through a syndicated club loan in June 2022.
Tata Steel has proposed an additional financial ‘support package’ of around 130 million pounds for the workers who would be affected as part of its transition plan in the UK. To reduce carbon emissions and save energy costs, the company drafted a decarbonisation plan for Tata Steel UK which includes installing new plant machinery with low-emission technologies.
Zee Entertainment Enterprises Ltd has said the Singapore Arbitration Centre has denied Sony Group’s plea seeking a restrain against the Indian media company’s move to the NCLT for enforcing the merger that was called off by the Japanese company’s Indian arm. An Emergency Arbitrator of Singapore International Arbitration Centre denied the interim relief sought by Culver Max and BEPL (Bangla Entertainment Pvt Ltd) to restrain Zee Entertainment Enterprise Ltd (ZEEL), observing it lacks jurisdiction to pass such an order, ZEEL stated in a filing to stock exchanges.
Drug major Cipla is eyeing acquisitions and inorganic partnerships in the US market while consolidating its presence across segments in the domestic market. The Mumbai-based company is also looking to improve the top line in Europe and margin expansion in South Africa. “Product launches through delisting strategy and as well as inorganic partnerships and acquisitions will remain one of our key priorities for the US market,” Cipla Global Chief Financial Officer Ashish Adukia said in an analyst call.
The United States Food and Drug Administration (US FDA) inspected Unit-III, a formulation manufacturing facility of Eugia Pharma Specialities, a wholly owned subsidiary of Aurobindo Pharma in Telangana, during January 22 to February 2. The US FDA closed its inspection with 9 observations for the said unit.
Oil companies: The Centre has increased Windfall tax on crude petroleum to ₹3,200 per tonne from ₹1,700 per tonne. However, windfall tax on diesel, ATF and Petrol continues to remain nil.
Cochin Shipyard has signed contract worth ₹150 crore with the Indian Navy, under which, it will undertake Medium Refits of two Indian Naval vessels.