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LIC Housing Finance plans to expand project loan business in FY23

With an upturn in the real estate cycle, LIC Housing Finance plans to step up project finance lending and increase the share of such disbursements to 10 per cent in 2022-23 (FY23), from the present-day 5 per cent.

On the project loan side, in the first half of 2021-22 (FY22), activities were not in full swing. Also, business was impacted by the third wave in the second half of FY22. Now the business environment is clear. There may be a drawal of money for existing projects. Plus, there is a pipeline of projects being considered in excess of Rs 1,000 crore.

NCLAT dismisses Hinduja Leyland Finance plea for insolvency proceedings

The NCLAT has dismissed the plea of Hinduja Leyland Finance Ltd to initiate insolvency proceedings against its creditor Fly Express Logistics. A threemember bench of the appellate tribunal upheld the earlier orders of the Allahabad bench of the National Company Law Tribunal (NCLT), which had on April 5, 2022, rejected the plea of Hinduja Leyland Finance.

Tata Motors expects PV industry to surpass FY19 volumes this fiscal

Tata Motors expects the domestic passenger vehicle industry to surpass the peak sales number of 34 lakh units achieved in FY2019 this fiscal on the back of robust demand and less COVID-related disruptions that were witnessed in the last two years, according to a top company official.

The company expects a better business environment this fiscal even as chip shortages continue to making it challenging to cater to the enhanced demand.

Greenko to supply green power to ArcelorMittal, Ayana Renewable, 3 states

Greenko Group will supply green power to ArcelorMittal, Ayana Renewable Power and three states from its 5,230 MW renewable energy plant being set up here, a top company official said.

The plant which is being set up at a cost of USD 3 billion is the world's largest renewable energy storage project. Global steel giant ArcelorMittal has made an investment of around USD 600 million for 1,000 MW capacity of the project.

Out of 5,230 MW, 3,000 MW is solar, 550 MW wind and 1,680 MW is pump storage capacity. The daily storage capacity of the project will be 10,800 MW.

HCL, UNLEASH to develop solutions for aquatic ecosystem conservation

HCL Group and UNLEASH, a global innovation programme for the UN Sustainable Development Goals (SDGs), have announced a year-long collaboration to mobilise youth and develop innovative solutions to promote aquatic ecosystem conservation. These solutions will aim to tackle challenges from source (mountains and glaciers) to sink (oceans and seas) and their links to terrestrial ecosystems, according to a statement.

Prestige Group to pump at least Rs 7,500 cr to gain foothold in Mumbai

The Bengaluru-based Prestige Group, which is entering the financial capital, has drawn plans of investing at least Rs 7,500 crore over the next four-five years to get a foothold in the foremost realty markets in the country, a top official has said.

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