Infosys: Joint venture partner in Saudi Arabia has filed a lawsuit in a California court alleging that the Bengaluru-based IT services provider violated US law on corruption. SPC alleged that Infosys falsely claimed that it was not making money from certain contracts and requested it to reduce its 8 per cent commission by at least half or waive it off completely, which led to financial losses.
Vedanta: Vedanta’s promoters cannot sell or create any security on shares they hold in the group as part of the terms attached to the recent $1.4 billion fund raising — conditions which technically fall within the definition of ‘encumbrance’ but no pledge on shares has been created, the company said on Wednesday.
YES Bank: The bank, now majority-owned by State Bank of India and other financial institutions, said its board has approved promotion of Niranjan Banodkar as the Group Chief Financial Officer (CFO) and Anurag Adlakha as the Group Chief Human Resources Officer following the recommendations of the nomination and remuneration panel and the audit committee.
BEL, Bharat Dynamics: The government has approved the export of indigenously-developed surface-to-air Akash missile system and set up a high-level committee to authorise the sale of major platforms to various countries.
Coromandel International, EID Parry: EID Parry India , a promoter of Coromandel International, on Wednesday sold more than 58 lakh shares of the company worth over Rs 469 crore through an open market transaction.
Ansal Properties & Infrastructure: The realty firm said the company has agreed to sell its entire 66.24 per cent stake in IT SEZ in Greater Noida to Migsun group. In a regulatory filing, Ansal Properties said the company has entered into an agreement to sell its entire shareholding of 66.24 per cent held in its subsidiary firm Ansal IT City and Parks, which owns IT Park of 37.5 acres of land at Greater Noida to Mahaluxmi Infrahome, part of Migsun Group.
DHFL: Kapil Wadhawan has yet again come up with a revised proposal for acquiring Dewan Housing Finance Corporation Ltd (DHFL).
Indian Bank: Indian Bank on Wednesday said it has raised Rs 392 crore through perpetual bonds. The bank has further raised tier 1 capital fund through private placement of Basel III compliant AT-1 perpetual bonds aggregating to Rs 392 crore, the public sector bank said in a regulatory filing.
Sutlej Textiles: The Hindustan Times bought another 38 lakh shares of Sutlej Textiles at Rs 45.61 per share, while Earthstone Holdings (Two) Pvt Ltd sold another 38,00,000 shares of the company at Rs 45.60. The latter held 5.98 per cent stake in the company at the end of September.
Union Bank: Shareholders of Union Bank of India approved the bank’s proposal for raising up to Rs 6,800 crore equity capital to fund business growth.
Adani Green Energy: The company said it has commissioned a 100 megawatt (MW) solar power project at Khirsara in Gujarat.
RITES: The company said it has declared an interim dividend of Rs 5 per share on face value of Rs 10 each.
