AARTI INDUSTRIES LTD
This is to inform you that Company has incorporated two Wholly Owned Subsidiary (WOS) Companies namely
Aarti Bharuch Limited
Aarti Organics Limifed
Aarti Organics Limited - Authorised Capital: Rs. 50,00,00p (Rupees Fifty Lakhs) - Paid up Capital: Rs. 25,00,009 (Rupees Twenty Five Lakhs) - Turnover: ) Nil (yet to commence business operations)
Aarti Bharuch Limited - Authorised Capital: Rs. 50,00,090 (Rupees Fifty Lakhs) - Paid up Capital: Rs. 25,00,000 .(Rupees Twenty Flve Lakhs) - Turnover: Nil (yet to commence business operations)
"The compang has not acquired. qny neut compang hfi hos incotporated two neu, whollg owned. sttbsidiaries to ca;ry out the business of manufactttrers, produeers, processors, bugers, sellers, importers, uporters, qnd or otherutise d.eq.lers in chemical within and/or outside India".
ASHOK LEYLAND
Ashok Leyland partners with lClCl Bank
Ashok Leyland, flagship of the Hinduja Group, the second largest commercial vehicle manufacturers in lndia with their complete range of 856 ready vehicles, signed a Memorandum of Understanding (MoU), with lClCl Bank to enter into a strategic financing partnership for two years. This MoU will enable both Ashok Leyland and lClCl Bank to offer customised financial solution to customers across lndia with focus on semi-urban and rural geographies.
With this MoU, lClCl Bank will be a preferred financier for providing finance to the customers buying Ashok Leyland vehicles. The Bank will work in close coordination with the authorised dealers of Ashok Leyland to provide financial solutions to the customers.
Customers will be benefitted with preferred product and financial solutions from both the organisations. , -.!The joint initiative will enable both the organisations toeffectively leverage the combined strengths of , ;, ?;...;\I Ashok Leyland's best-in-class products and lClCl Bank's significant distribution reach in lndia.
I Commenting on the partnership, Mr. Anuj Kathuria, Chief Operating Officer, Ashok Leyland said, "Ashok Leyland is delighted to partner with lClCl Bank to offer customised financial solutions to its customers. With a pan-India presence, both organisations can leverage their strengths for the mutual benefit of the customers. Ashok Leyland products come with differentiated technology that offer our customers best-inclass total cost of ownership, thereby providing profitability to their business. Ashok Leyland has embraced future-ready technology to offer digital platforms and services that are ahead of the curve, thereby Living by its brand promise of 'Aapki Jeet. Hamari Jeet"'.
Speaking on the partnership, Mr. Ravi Narayanan, Head - Secured Assets, lClCl Bank said, "We are delighted to join hands with Ashok Leyland to become their preferred financier. In order to give more impetus to the commercial vehicle sector, we bring forth customised, technology Led and speedy credit and other financial solutions to the fleet owners of trucks and buses and assist them in the growth of their business. With this partnership, we will also offer the whole gamut of our banking products and services to the customers of Ashok Leyland and its dealers."
DR REDDY
This is further to our intimation dated July 29, 2019 regarding the Scheme of Amalgamation and Arrangement between of Dr. Reddy's Holdings Limited ("DRHL" or "Amalgamating Company") and Dr. Reddy's Laboratories Limited ("Company" or "DRL" or "Amalgamated Company") and their respective shareholders, pursuant to provisions of Section 230-232, read with Section 66 of the Companies Act, 2013 and rules framed thereunder.
In this regard, we would like to inform you that the Hon'ble National Company Law Tribunal (NCLT), Hyderabad vide its order dated November 22, 2019, has directed the Company to convene the meeting of its equity shareholders and unsecured creditors on January 2, 2020, for seeking their approval to the said Scheme of Amalgamation and Arrangement
GAYATHRI PROJECTS
with regards to the clarification sought by the exchanqc on signiflcant price movement vide email dated 22rc) November, 2019 as refeired above, *" *olld like to inform you that there have been ceftain rumours regarding promoters' pledged shares. The promolers' shares are pledqecl with various public sector banks and Catalyst fruiteeship Limited (-frust.ee for Dcbentures l,lolders issuecJ by M/s'GEVPL, wholly owned subsidiary of GPL ) as additional collatcrals for rcgular business loans to Gayatri Projects Limited ("GPL") ancj its 1007o subsidiary. the sard promotersTshares are pleclqcd with Catalyst Trusteeship Limited, Trustee for Debenture liolcJers as additronal collateral for a 100o/o 9.y!-sld1arv of GPL, which went towards funding invcstment in Sembcorp Energy India Limitccl ("SEIL")' Catalyst Ì rus_teeship Limit.cd (trustce for Debenturr-: l'lolders issucd by M/s.GEV1:L, wholly owned subsidiary of GPL), on l3tr' Novcmbcr, 2019, invoked 55206 equity'shares and on 1.[Jr, November, 2019 invoke(l 50,397 equrty sharcs, a small portron of thc salcl picdoc on ac.<:ount of ¿r temporary delay in meeting interest obliç¡alions by the abovr: mcntionccl subsidiary. llowever, thc said account has sincc then bccn regulaiised ancl the septembcr quarterly interest. obligations has been fully cured now. In addition, ai disclosed in our recent quartcrly update, company is in thc final stages of selling off its stake in SEIL and expects to fully repayTpre-pay the .said loan before thc end of December 2019' The company is committed to the highest lcvel of transparr-,ncy ancl discloses all the material information / events to the exchange withõut any delays.
The movement in price is purely markct drivcn and the Company has no further matcrial informatlon to disclose,
GOODYEAR INDIA
Company has decided to close its manufacturing operations of the Plant situated at Ballabgarh, (District-Faridabad) Haryana, from November 25, 2019 to November 30, 2019 (both days inclusive) to align production in line with the market demand
INDOCO REMEDIES
Indoco receives EIR for its manufacturing facilities in Goa (Plant II & III)
Indoco Remedies Limited announced today, the receipt of Establishment Inspection Report (EIR), from the US Food and Drug Administration (USFDA) for its sterile facility (Plant II) and solid dosages facility (Plant III) at Verna, Goa for the inspection carried out between 7th October to 15th October, 2019. This was a Pre-Approval Inspection for a sterile injectable product, with 2 observations on Form 483s, which is now concluded as closed.
The inspection classification of this site has been determined as VAI (Voluntary Action Indicated) by the USFDA.
Commenting on the receipt of the EIR, Ms. Aditi Kare Panandikar, Managing Director – Indoco Remedies Ltd., said, “We have received the EIR in just over a month’s time from the date of inspection. Excelling at Quality and Compliance is one of our top priorities, as we remain committed to meeting and exceeding standards set by the regulatory agencies globally.”
This second successful PAI (Pre-Approval Inspection) at the site in less than 6 months indicates steady progress in review of Indoco’s pending ANDAs. The Company has 39 ANDAs, pending for approval from this site”.
INOX WIND
Inox Wind, India’s leading wind energy solutions provider, has been granted time extension by Solar Energy Corporation of India Limited (SECI) for the Scheduled Commissioning Date for 5*50 MW ISTS connected Wind Power Projects in Gujarat (SECI Tranche I) on account of delay in operationalization of Long Term Access by the Central Transmission Utility (CTU). Out of the total 250 MW of SECI 1 at Dayapar, Gujarat, Inox Wind had successfully commissioned 200 MW in June & July, 2019. Further, SECI has also granted permission to the Company to commission the balance 50 MW Project, which is already under execution.
JMC PROJECTS
JMC secures new orders of Rs. 615 Crores
JMC Projects (India) Limited (JMC), a leading Civil Engineering and EPC Company has secured new orders of Rs. 615 Crores. The details are as follows: • Institutional and Commercial Building Projects in East and South India totalling Rs. 615 Crores
Management Comments
Commenting on securing new orders, Mr. S. K. Tripathi (CEO & Dy. Managing Director) commented, "We are delighted with the new order wins· especially in our Buildings & Factory (B&F) business. These orders along with the orders announced earlier, helps us to further strengthen our order book and widen our client base in the B&F business. We remain confident to deliver on our growth targets going forward."
UJAAS ENERGY LTD
The downgrade reflects deterioration in the UEL’s business risk profile, which is expected to continue as against CRISIL’s expectation of improvement. Despite reduction in Goods and Services Tax (GST) rates to 9% since January 2019; revenues have not recovered due to overall slowdown, coupled with delay due to financial closure pending for projects of some of its customers. Further, increased competition in the industry has resulted in decreased order flow. Consequently, revenue was at Rs 31.1 crore in the first half of fiscal 2020, a decline of over 63% compared with the first half of fiscal 2019. Accordingly, cash accruals are expected to remain subdued going ahead as well. Further, delay in realisation of receivables has led to a stretched working capital cycle with reduced levels of liquid funds and higher reliance on short-term borrowings. Increase in UEL’s order pipeline & its execution, performance in the e-vehicle segment along with improvement in working capital management will remain key rating sensitivity. The ratings also factor in the extensive experience of the promoters and the company’s comfortable capital structure. These strengths are partially offset by working capital-intensive operations, susceptibility to regulatory changes, and average debt protection metrics.