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Two independent directors of Zee Entertainment Enterprises Ltd - Vivek Mehra and Sasha Mirchandani - failed to get shareholders’ nod for their reappointment after completing their tenure, according to a regulatory filing by the company. The shareholders of ZEEL in the AGM held on December 16, rejected the two special resolutions seeking re-appointment of directors. Meanwhile, Zee Entertainment on Sunday said it has sought an extension in the December 21, 2023, deadline of its proposed merger with Culver Max Entertainment (CMEPL), formerly known as Sony Pictures Networks India.
Solar Industries informed the exchanges that an explosion incident has occurred on Sunday in one its processes Building No. HRCPCH-2 (Pallet Casting House). The incident has resulted in loss of lives of 9 workmen working in the plant. The company has intimated the concerned departments and statutory authorities. The incident is being investigated for all the root and contributory causes and corrective and preventive actions to be implemented. As far as financial impact is concerned, the loss is limited to this one particular building only.
Sun Pharmaceuticals is recalling products in the US market over manufacturing issues, as per the US Food and Drug Administration (USFDA). Sun Pharma is recalling 96,192 bottles of Liothyronine Sodium Tablets in the US that are used to treat an underactive thyroid, according to the latest enforcement report issued by the American health regulator. The company is recalling the lot due to “failed impurities/degradation specifications”, the USFDA stated.
USFDA stated that Mumbai-based Lupin is recalling an unspecified number of penicillamine tablets in the US. The medication is used to treat rheumatoid arthritis and Wilson’s disease. Baltimore-based Lupin Pharmaceuticals Inc, a unit of the company, is recalling the affected lot that was produced at the drugmaker’s Nagpur-based facility. As per the USFDA, the company is recalling the affected lot due to “failed dissolution specifications”.
Zydus Lifesciences on Saturday said it has received approval from the US health regulator to market a generic anti-epileptic medication. The company has received approval from the US Food and Drug Administration (USFDA) to manufacture and market Lacosamide Tablets in multiple strengths, the drug firm said in a statement.
Mahindra Logistics has received an order from the Office of Commercial Tax Department, Assistant Commissioner, Chennai Central, Tamil Nadu State Tax Officer, imposing a penalty of ₹42,86,780 with respect to GST assessment for the period July-2017 to March-2018. The company had also received a similar penalty order from another Division of the Tamil Nadu State jurisdiction with respect to GST assessment for the same period i.e., July-2017 to March-2018.
Ami Organics has set up a greenfield manufacturing unit in Ankleshwar, Gujarat, with an investment of around ₹200 crore. The move is a part of the company’s commitment to bolstering its position in the advanced pharmaceutical intermediates segment, Ami Organics said in a statement.
Hindustan Zinc, subsidiary of Vedanta, has said that it has received a demand notice from the Additional Commissioner, Central Goods Service Tax and Central Excise Commissionerate, for ₹13.47 crore and equivalent amount of penalty and applicable interest.
Nuvama Wealth Management Ltd has intimated exchages about the dismissal of the appeal filed with Securities Appellate Tribunal by its subsidiary, Nuvama Clearing Services Limited against the order passed by Member and Core Settlement Guarantee Fund Committee of NSE Clearing Ltd. Nuvama Clearing has already earmarked with NSE Clearing Ltd a sum of ₹236 crore in this regard and believes this will have no material impact. Nuvama Clearing is evaluating all legal options in the matter, including but not limited to filing an appeal with the Supreme Court of India.
Sajjan Jindal group shares such as JSW Steel, JSW Infrastructure and JSW Energy may come under pressure on reports that Mumbai police filed an FIR against Sajjan Jindal, by Mumbai police after an actor registered a rape complaint against him.
Shakti Pumps (India) Ltd has successfully obtained its 8th patent for its ground‐breaking pump design for inventing a “Helical Pump Assembly”. This patent is set to maintain its validity for duration of 20 years, commencing from the date of filing.
The Board of Indian Hotels Company Ltd has approved the allotment of 30,31,885 shares on a preferential basis to New Vernon Private Equity Limited (28,99,484 shares) and Tata Investment Corporation Limited (1,32,401 shares). The shares were allotted at ₹400.06 a share (for consideration other than cash i.e. swap of equity shares of Piem Hotels Limited, held by the Allottees).
Meson Valves India has announced that Purchase Order received from Garden Reach Shipbuilders & Engineers Limited for supply of B&D Spares for Hull Valves for Project ASW SWC. The Order value is about ₹1.35 crore Inclusive of all taxes. It also received Letter of Acceptance from Garden Reach Shipbuilders & Engineers Limited for supply of B&D Spares for Under Water Valves for Project SVL. The Order value will be ₹2.76 crore, Inclusive of all taxes.
Landmark Cars has received an approval from Mercedes-Benz India for opening a workshop at Hyderabad. This workshop will be established by the listed company, Landmark Cars Ltd.
Granules India said that the US FDA has completed a GMP inspection of the facility of Granules Pharmaceuticals, Inc, a wholly-owned foreign subsidiary, Chantilly, Virginia, US, from December 11 to December 15 with five observations. Granules Pharmaceuticals Inc will respond to these observations within the stipulated time and does not anticipate any disruptions to its business.
The Government of India, The Patent Office has granted the Patent for an invention to Insecticides (India) Limited entitled A novel Isoxazole Compound or A slt thereof for the term of 20 years from November 29, 2018.
OTO, a pioneering digital two-wheeler commerce platform and a leading player in two-wheeler financing, announced its dynamic collaboration with Mufin Green Finance Ltd. This strategic alliance is set to transform the landscape of Electric Vehicle Financing, particularly for the underserved customer segments.
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