ICICI Lombard General Insurance Company has received a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, Pune Zonal Unit, under Section 73(1) of the Central Goods and Services Tax Act, 2017, alleging a tax demand of ₹1,729 crore. The alleged demand and the impugned Show Cause Cum Demand Notice pertains to non-payment of GST on the Co-insurance premium accepted as follower in case of co- insurance transactions and non-payment of GST on re-insurance commission accepted on the reinsurance premium ceded to various Indian and Foreign reinsurance companies during the period July 2017 to March 2022.

Bharti Airtel said that it has received an order from Telecom Regulatory Authority of India levying a financial disincentive of Rs 2.81 crore under the Telecom Commercial Communications Customer Preference Regulations, 2018. The Company is reviewing the Order and evaluating the next steps

The Board of Directors of KFin Technologies Limited has approved the buyback of 1,000 non-convertible redeemable preference shares having a face value of Rs 200 each fully paid-up at a buyback price of Rs 13.40 lakh each, aggregating to Rs 134.02 crore.

Tata Power Renewable Energy Limited, a subsidiary of The Tata Power Company Limited, will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu for TP Solar Limited, a new greenfield 4.3 GW solar cell and module manufacturing facility. The captive plant will help generate 101 million units of electricity and offset around 72,000 tonnes of CO2 emissions annually. The captive solar project will be commissioned 12 months from the signing of the Project Development Agreement.

KSB Limited has received letter of award under PM-Kusum III Scheme under Component B of Rs 27.78 Crores for 800 solar water pumping systems from Department of Agriculture, Uttar Pradesh. The sales/ supply of products/ services for these orders is expected from Q4 of FY 2023

Rajapalayam Mills Ltd has provided Corporate Guarantee to Karur Vysya Bank on behalf of Sandhya Spinning Mill Limited for Rs 40 crore. The guarantee is provided for the corporate term loan facility of Rs 40 crore sanctioned by the bank. Providing of Corporate Guarantee will strengthen the Credit worthiness of M/s. Sandhya Spinning Mill Limited which will enable M/s. Sandhya Spinning Mill Limited to borrow at competitive rate of interest / better terms & conditions.

Lloyds Engineering Works Limited (LEWL) has signed a Memorandum of Understanding (MOU) with The Material Works, Ltd. (TMW) for the transfer of cutting-edge and environmentally friendly technology, Eco Pickled Surface (EPS Gen 4), for pickling of all qualities of steel including stainless steel. The MOU grants LEWL an exclusive right to design, manufacture and sell the EPS Gen 4 technology in India and Bangladesh, affirming LEWL’s commitment to sustainable and technologically advanced manufacturing practices

KPIT Technologies Limited has further invested €5 million in KPIT Technologies GmbH, a wholly owned step-down subsidiary in Germany. KPIT Technologies GmbH provides Engineering services to its customers predominantly in Automotive that include major Automotive OEMs and Tier 1 Companies.

KP Energy has successfully commissioned further 10.5MW (Phase-V) ISTS connected wind power project comprising 5 numbers of WTGs of 2.1MW each at Sidhpur site in Devbhoomi Dwarka. This Phase-V commissioning is a part of the 250.8MW ISTS connected wind power project capacity awarded to Apraava Energy Private Limited by Solar Energy Corporation of India Limited (SECI) under Tranche-VIII bidding. KP Energy is developing the Project for Apraava Energy Private Limited as a Contractor under the Land and Balance of Plant Contract.

The board of Redstart Labs (India) Ltd, a wholly owned subsidiary of Info Edge (India) Ltd, has agreed to invest about $500,000 in SkyServe Inc. at the applicable exchange rate. Skyserve provides Insights-as-a-Service platform enabling satellite-based edge computed insights for core industries and solution providers to scale faster and affordably. Skyserve feed multispectral imagery to models deployed on the edge and facilitate timely predictions.

Endurance Technologies has evaluated and approved capacity expansion for manufacturing aluminium Alloy Wheels for two wheeler applications. The capacity expansion would be at its existing facility at Chakan, Pune, at estimated investment of Rs 45 crore. The existing capacity is 190,000 sets (front and rear) of Alloy Wheels per month and the capacity utilisation is about 98 per cent of the existing capacity.

The proposed capacity addition is 40,000 sets of Alloy Wheels per month. The expansion project is expected to be completed by April, 2024.

Dixon Technologies’ wholly owned subsidiary Padget Electronics Private Limited enters into an agreement with Xiaomi to carry out manufacturing of smart phones and other related products for Xiaomi. The manufacturing wil take place at Padget’s Noida facility

SJVN Ltd has commenced the Mechanical Spinning of Unit-I of 60 MW Naitwar Mori Hydro Electric Project at Mori, Uttarakhand.

Wardwizard Innovations & Mobility Ltd has announced the appointment of two distinguished professionals, Dr. John Joseph and Lt. General Jai Singh Nain (Retd), as Non-Executive Independent Directors.

Nazara Technologies has informed the exchanges that Director General of GST Intelligence, Mumbai, sent a tax demand for about Rs 2.84 crore. The Company would be filing its response to the said SCN within the prescribed timelines.

NBCC (India) has announced sale of Commercial Built-up space in World Trade Centre, New Delhi at Nauroji Nagar through e-auction worth Rs 5,716.43 crore,

Auro Vaccines, subsidiary of Aurobindo Pharma, has entered into a licence agreement with Hilleman Laboratories Singapore Pte Limited to develop, manufacture and commercialise a pentavalent vaccine candidate used in children’s vaccination. Auro Vaccines will make milestone payments to Hilleman upon achieving certain development and clinical study outcomes, while Hilleman will also be paid royalties upon commercialisation of the vaccine candidate.

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