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Hero MotoCorp made over Rs 1k-cr bogus expenses, I-T search reveals: Report

The Income Tax Department has found that Hero MotoCorp made more than Rs 1,000 crore bogus expenses and over Rs 100- crore cash transactions for a farmhouse in Chhattarpur, Delhi, sources told ANI.

Income Tax Department carried out a search and seizure operation on March 23 on Hero Motocorp and its chairman and managing director Pawan Munjal at multiple locations in Delhi-NCR, which concluded on March 26.

Record beckons for Coal India, FY22 production may exceed 620 mn tonnes

Mining major Coal India Ltd is set to post its highest-ever production during the 2021-22 fiscal, topping the 620-million-tonne mark and bucking two years of a declining streak of annual output, a company official said.

The miner's production for the current fiscal stood at 614.4 million tonnes as of March 28

Alembic acquires 100% stake in Aleor Dermaceuticals from JV partner

Vadodara based Alembic Pharmaceuticals has acquired the balance 40 per cent stake in Aleor Dermaceuticals from its joint venture partner Orbicular Pharma for an undisclosed sum. The move is aimed at strengthening its skinrelated manufacturing and marketing footprint.

Aleor has product offerings across cream, gel, ointment, shampoo, lotion, solutions, sprays, foams, Microsponge and Nanoparticulate platform-based products. The acquisition will help Alembic to secure higher market share in various segments where Aleor operates

HDFC Bank to infuse Rs 3 cr to acquire stake in debt resolution firm IDRCL

HDFC Bank on Tuesday said it has inked an agreement to invest Rs 3 crore in the first tranche to acquire a stake in debt management company IDRCL.

HDFC Bank has signed a pact on March 28, 2022, for investment in India Debt Resolution Company Ltd (IDRCL) by way of subscription to equity securities, the bank said in a regulatory filing.

IDRCL was incorporated on September 3, 2021, to carry on the business as a debt management company and to do all kinds of debt management. It will do operational management and consultancy services in relation to debt resolution for an asset reconstruction company or investment trust or any other portfolio of securities.

Tata Steel UK using bacteria-technology to recycle its emissions

Tata Steel's blast furnaces in the UK are using billions of microscopic bacteria to convert its emissions into stock materials for other industries to make recycled products such as food-packaging to animal feed, the Indian steel major has said.

A pilot project, led by the University of South Wales, has been set up at the two Tata Steel UK Port Talbot iron making furnaces in Wales.

LTTS forays into Meta world, to carve out business unit for Metaverse

L&T Technology Services (LLTS), the pure play engineering services unit of the L&T Group is betting big on Meta. The company is setting up a Centre of Excellence for Metaverse as well as creating a business unit for Meta. The CoE will be launched by July-August

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