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Kalpataru Power Transmission bags orders worth Rs 1,554 cr

Kalpataru Power Transmission Ltd (KPTL) on Wednesday said it has won orders worth Rs 1,554 crore. The orders include those from India, CIS and Latin America in the power transmission business, KPTL said in a statement.Besides, KPTL's international subsidiary has secured new power transmission projects in Europe. "These new order wins help us to strengthen our power transmission order book in India and overseas market. Our current year order inflow has reached around Rs 8,000 crore and additionally we have good visibility across all our businesses. Our order book visibility with low debt gives us confidence of growth from long-term perspective," KPTL Managing Director and CEO Manish Mohnot said.

Betting on pent-up demand, Berger Paints speeds up expansion plans

As pent-up demand is pushing up volumes, Berger Paints, country’s second largest paints maker in the decorative segment, , is aiming to accelerate and expand its manufacturing capacity. Berger is in the process of setting up a Rs 700-crore plant in Uttar Pradesh and the commissioning of the plant is now being brought forward on account of high capacity utilization at its existing facilities. Berger Paints managing director and chief executive officer, Abhijit Roy, said, “Originally, we had planned to commission the plant in April of next year, but we will now try and start it in December 2021.”

NCLT upholds Doha Bank plea, Reliance Infratel to get 100% recovery

National Company Law Tribunal (NCLT), Mumbai has upheld the petition of Doha Bank resulting in 100 per cent recovery for the Financial Creditors of Reliance Infratel Ltd. (RITL), aggregating to Rs 3,515 crore. Doha Bank, one of the Financial Creditors of RITL had filed an application against Corporate Guarantee Holders of Reliance Communications Limited (RCOM) and Reliance Telecom Limited (RTL), seeking priority payment for the financial creditors of RITL, from the proceeds of company's resolution plan. Reliance Jio has acquired these assets through NCLT driven debt resolution process. NCLT, Mumbai had approved the Reliance Infrtatel resolution plan on December 3, 2020 in favour of Reliance Projects & Property Management Services Limited, a subsidiary of Reliance Industries Limited.

Banks in talks with Shapoorji Pallonji Group to resolve

RHFL impasse Indian lenders have initiated talks with the Shapoorji Pallonji (SP) Group -- owned by the billionaire Mistry family -- on the latter’s objection to the debt restructuring plan of Reliance Home Finance Ltd (RHFL). Lenders are expecting a breakthrough before the month-end, which will see a debt resolution of Rs 11,000 crore owed by the Anil Ambani-led home finance company. The Shapoorji Pallonji Group, which has also sought debt restructuring for its own debt worth Rs 30,000 crore, had moved courts, thus stalling the debt resolution process of RHFL.

Infosys, Accenture to cover Covid-19 vaccine cost for eligible employees

Information Technology majors Infosys and Accenture India said Wednesday that they will cover Covid-19 vaccination costs for their employees and their family members, who are eligible and choose to receive the vaccination. "Infosys is looking at partnering with health care providers to vaccinate employees and their immediate families as eligible under the guidelines given by the government of India and as per approved procedures and timelines. Infosys will cover the vaccination cost for the employee and immediate family as part of our focus on health and wellness,” said Pravin Rao, Chief Operating Officer, Infosys.

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