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Kirloskar Brothers EGM: Shareholders reject call for forensic audit 

Shareholders of Kirloskar Brothers Ltd have rejected a resolution for forensic audit of the affairs of the company by an external agency, according to a regulatory filing on Monday.

On December 8, an extraordinary general meeting of the company's shareholders was convened following requisition by Kirloskar Industries Ltd (KIL) along with Atul Kirloskar and Rahul Kirloskar, who together hold 24.92 per cent in Kirloskar Brothers Ltd (KBL), amid the simmering feud between Kirloskar siblings.

The ordinary resolution was rejected with 63.99 per cent of votes against it while 36.01 per cent were in favour, the filing said.

Tata Motors to partially sell stake in subsidiary Tata Tech via IPO

Tata Motors’ board has approved a partial divestment of the company in Tata Technologies, its wholly owned subsidiary, through an initial public offering (IPO), the parent firm said in an exchange filing. The subsidiary is into product engineering and digital services.

“We wish to inform you that the IPO committee (duly constituted by the board of directors of Tata Motors) at its meeting held on December 12, 2022, has accorded its in-principle approval to explore the possibility of partial divestment of the company’s investment in Tata Technologies, a subsidiary of the company, through an IPO route at an opportune time,” it said in the filing.

Vistara inaugurates daily, non-stop flights from Mumbai to Muscat

Full service carrier Vistara on Monday launched daily, non-stop flights from Mumbai to Muscat, a move that will see the airline expand its footprint in the lucrative Middle East region.

The inaugural flight departed from Mumbai at 2000 hours (IST) and arrived in Muscat at 2135 hours.

Muscat is the fourth destination in the Gulf region for Vistara, which is a joint venture between the Tatas and Singapore Airlines.

The airline said there has been a consistent rise in passenger volumes and demand from the Gulf countries, paving way for the airline to bolster its presence in the region.

Maruti Suzuki seeks correct accounting of GHG emission benefits of ethanol

Car market leader Maruti Suzuki India (MSI) on Monday sought correct accounting of greenhouse gas emission benefits of ethanol blended fuel under the Corporate Average Fuel Economy (CAFE) norms.

The second phase of CAFE norms came into effect from April this year. The regulation first came into force in India from April 1, 2017.

It is aimed at lowering fuel consumption of vehicles by reducing their CO2 emissions, mandating the average corporate CO2 emission to be less than 130 gm/km by 2022, applicable to all petrol, diesel, LPG and CNG fuelled vehicles. Under CAFE II regulations, the average corporate CO2 emission must be less than 113 gm/km.

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