The Reserve Bank of India has directed Bank of Baroda to suspend, with immediate effect, any further onboarding of customers onto its ‘bob World’ mobile application, based on certain supervisory concerns that RBI had observed in the Bank’s mobile banking onboarding processes. Further onboarding of customers on the “bob World” application will be subject to further strengthening of related processes by the Bank to the satisfaction of RBI.

Multi Commodity Exchange of India (MCX) is all set to go live with its new commodity derivates platform (CDP) on October 16, 2023. The platform was developed by TCS. The announcement came two days after MCX received approved from SEBI to launch its CDP. Till now MCX is using software developed by 60 moons technologies (erstwhile Financial Technologies), which may come under pressure.

Interglobe Aviation, owners of IndiGo, has extended its network to Salem, Tamil Nadu. Salem now proudly stands as the 82nd domestic and 114th overall destination in the 6E network. The introduction of these direct flights will seamlessly connect Salem to Chennai from October 29, 2023 and to Hyderabad, and Bengaluru from October 30, 2023. These new connections are poised to significantly bolster interstate connectivity and advance regional accessibility, aligning with the regional connectivity scheme’s objectives.

Shiva Cement Limited has received CTO (Consent to Operate) from State Pollution Control Board, Odisha for increase in production from existing capacity of 0.66 Million TPA to 1.5 Million TPA.

Fine Organic Industries Limited has incorporated a wholly owned subsidiary (WOS) company named ‘Fine Organic Industries (SEZ) Private Limited’ in India. The new WOS is incorporated in India for the purpose of carrying on the business of manufacturing Specialty Chemical products.

Innokaiz India Limited has received order for Rs.8.07 crore from HDFC Life Insurance Company Limited.

IFGL Refractories Ltd has been accorded status of ‘Three Star Export House’ by the Directorate General of Foreign Trade, Ministry of Commerce and Industry for the period 1st October, 2023 to 31st March, 2028.

Wipro has completed its subscription to the equity share capital of FPEL Ujwal Private Ltd.. The company in September signed a definitive agreement to subscribe to a 9.5% stake in FPEL Ujwal, which is engaged in the business of developing, building, and managing a portfolio of solar power assets. The transaction is expected to be completed by May 31, 2024.

Birla Corporation has received an order from the Office of Collector (Mining), Satna, Madhya Pradesh, imposing a penalty of Rs 8.43 crore for excess production of limestone from captive mining for the period from 2000-01 to 2006-07, without obtaining environment clearance. The company did not take environmental clearance due to the ambiguity in the provisions of EIA Notification 1994, which was only clarified subsequently by the principles laid down in the Common Cause judgement of the Supreme Court dated August 2, 2017. However, the company had valid consent to operate the mines from the State Pollution Control Board.

Akzo Nobel India has received a demand order for the collection of GST along with interest and penalties from the office of the Deputy Commissioner, Karnataka GST Department. The demand order cum penalty stood at Rs 9.95 lakh. The input tax credit was availed of on ineligible credits pertaining to FY2017–18.

Results season: Delta Corp, Dipna Pharmachem (rights issue), Justride Enterprises, National Standard (India), Plastiblends India, Sanathnagar Enterprises Samhi Hotels, Signature Global (India), TCS and Zaggle Prepaid Ocean Services, 

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