BGR ENERGY
The Company had entered into several contracts with C & S Electric Limited, New Delhi (C & S) for purchase of electrical items and services for its various projects. Subsequently disputes arose between the Company and C & S in respect of these contracts. Hence, the Company could not fully settle all payments to C & S as per the terms of the contracts. Subsequently C & S filed petitions under Section 9 of the Insolvency and Banktuptcy Code, 2016 before the Hon’ble National Company Law Tribunal seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company for non-payment. Consequently the Hon’ble National Company Law Tribunal, Amaravathi Bench at the hearing held on November 29, 2019 admitted the petition No. TCP(IB )No.55/ 9/ AMR/2019 / CP(IB)No.402/9/HDB/2018.The Company immediately settled all disputes through a settlement agreement dated December 01, 2019 and settled payment to C & S so agreed under the settlement agreement. As agreed in the settlement agreement C & S withdrew the petition No. TCP(IB )No.55/ 9/ AMR/2019/ CP(IB)No.402/9/HDB/2018 before Hon’ble NCLT and Hon’ble NCLT was pleased to order on 02.12.2019 withdrawal of the said petition. It was further ordered that the CIRP of the Company as per order dated 29.11.2019 would accordingly cease to have any effect
LT FOODS
Intimation of incorporation of wholly owned subsidiary Company in EuropeThis is to inform you that the Company has incorporated a wholly owned subsidiary Company with a name of LT Foods Holding B.V. in Europe on 02nd December, 2019
Name of target company : LT Foods Holding B.V. Issued Capital- Euro 1
Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information : LT Foods Holding B.V got incorporated on 2nd December, 2019 with Netherlands Chamber of Commerce in Europe as a wholly owned subsidiary of LT Foods Limited and is yet to commence its operations
ERIS LIFESCIENCE
Intimation of acquisition of trademark- Zomelis together with its associated trademarks
We hereby notify having acquired trademark ‘Zomelis’ and its associated trademarks from Novartis AG, based at Basel Switzerland for Indian pharmaceuticals market with effect from 10th December 2019. The other details connected to the transaction are as under:
1. The trademark has been used for marketing Vildagliptin formulations; an oral anti-diabetic drug that has been promoted in India for close to 10 years;
2. The trademark along with its applicable associate marks presently enjoy sales on a moving annual total (MAT) basis of Rs.63.96 Crores1 ;
3. One of the Indian patents pertaining to Vildagliptin, namely Patent No. 212815 of the Patent holder, shall expire in the month of December 2019. The assignment of Zomelis trademark, which enjoys aforementioned patent exclusivity, is expected to provide a head-start to Eris visà -vis other branded generic players after the scheduled expiry of the aforementioned patent.
4. The consideration involved in this trademark acquisition is USD 13 Million.
INDIAN BANK
Further to our letter dated 30.09.2019, informing the receipt of capital funds of Rs.2534 crore from Government of India and subsequent approval by the shareholders of the Bank through Postal Ballot on November 13, 2019, the Bank has, on 03.12.2019, allotted 11,72,65,954 (Eleven crore seventy two lakhs sixty five thousand nine hundred and fifty four only) equity shares of face value of Rs.10/- each at an Issue Price of Rs.216.09 (including premium of Rs.206.09) per share aggregating to Rs.2534 crore to Government of India, Promoter of the Bank, on preferential basis.
LUPIN LTD
lupin Foundation Wins Award for Excellence in Corporate Social Responsibility at India Pharma Awards 2019
Pharma major Lupin Limited announced that its corporate social responsibility (CSR) arm, the Lupin Foundation won the prest igious award for 'Excellence in Corporate Social Responsibility' at the India Pharma Awards 2019 held in Greater Naida (National Capital Region). Lupin was conferred this award in the category for companies with turnover more than INR 500 Cr. The jury panel, represented by various segments of the Indian Pharmaceutical Industry chose the Lupin Foundation for its unwavering commitment and efforts to uplift the rural population in remote areas across India through initiatives focused on socio-economic improvement and women and children welfare.
Commenting on the occasion, Shri Sita Ram Gupta, Executive Director, lupin Foundation said, "It is an honour to be bestowed with this prestigious award. As a frontrunner in the CSR space, we strive to give back to society and make a positive impact. This award acknowledges t he organisation's commitment towards society. Such recognitions also encourage us to deepen our CSR footprint - continually bui lding on the vision provided by our beloved founder, Dr. Desh Bandhu Gupta."
Currently in its seventh year, the India Pharma Awards celebrates the advancements and achievements of the Indian Pharmaceutical Industry. The event was a part of the India Pharma Week 2019 held in Greater Naida (National Capita l Region) between 26 - 28 November, 2019 and recognises companies and personnel from this industry.
NESTLE INDIA
Declaration of Third Interim Dividend of Rs. 55/• per equity share for the year 2019
The Board of Directors at their meeting held today declared third interim dividend of Rs. 55/- (Rupees fifty five only) per equity share for the year 2019 on the entire issued, subscribed and paid up share capital of the Company of 9,64,15,716 equity shares of the nominal value of Rs. 10/- each.
The third interim dividend for 2019 will be paid on and from 20th December, 2019 to those members whose names appear on the Register of Members of the Company and as beneficial owners in the Depositories, determined with reference to the Record Date of 11th December, 2019, already announced for the purpose vide our letter no. BM:PKR:74:19 dated 22nd November, 2019.
NITCO
Disclosure regarding Non-binding Term sheet entered into with Hines India Real Estate Pvt. Ltd. under Regulation 30 of SEBI (LODR) Regulations, 2015.
NITCO is the owner of 4 acre plot at Kanjurmarg, Mumbai. With a view to monetise this asset, the Company has entered into a Non-binding term sheet on 3r d December, 2019 to appoint Hines India Real Estate Pvt Ltd as a Development Manager for providing end to end services for office/mixed use development on the said 4 acre plot with a development potential of approx 1.3 million sq. Ft. of leasable/ saleable area (subject to design confirmation and applicable regulations).
Roles and Responsibilities of the Development Manager will include:
1) Pre Development Services including preparation of business plan, assist in the design process, assisting in arranging financial closure etc.
2) Construction Services.
3) Leasing and Marketing of the project.
4) Asset Management post construction phase.
The parties will work towards concluding the definitive agreements containing the terms of the transaction.
Hines India Real Estate Pvt. Ltd. is part of the global firm Hines headquartered in Houston, Texas, USA. Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 219 cities in 0 1.. . 23 countries and $124.3 billion of assets under management-including $63.8 billion 0 ~~ for which Hines provides fiduciary investment management services and $60.5 U~vts~ 1 ~ billion for which Hines provides third-party property-level services.
Hines has 148 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm's current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world.
This marks the entry of Hines into Mumbai (Until now Hines has been operating in India only in Gurugram in association with DLF). This association with Hines will help Nitco monetize its real estate assets.
TATA MOTORS
Based on the monthly production and sales report we are come to know more sales happening on INDICA,INDICA VISTA, INDIGO CS, 9909 7240 ZEST.BOLT, TIAGO, TIGOR
and ACE, ACE EX, ACE Zip
YES BANK
YES BANK Limited ("the Bank") has sold its entire holding of 13,77,000 equity shares having nominal value of Rs.10/- each, constituting 5.49% of the paid-up share capital of One Point One Solutions Limited ('OPOS').
We would further like to inform that the Bank had earlier on various dates, sold 22,000 Shares of OPOS amounting to 0.09% of the total share capital of the Company.