Reliance Home Finance, Somany Ceramics, Welspun India, Vedanta
Reliance Home Finance Ltd: The non-bank lender indicated that it had net liquidity (including cash equivalents, liquid investments in mutual funds, term deposits, etc.) of more than ₹1,500 crore. However, the delay in servicing the debt is due to the company being prohibited from assigning, disposing of, directly or indirectly encumbering or otherwise parting with the possession of any assets, due to an order from Delhi High Court dated November 20, 2019. The lender said its creditors had entered into an inter-creditor agreement to come up with the debt resolution plan.
Somany Ceramics Ltd: The company will hold separate meetings of shareholders, secured creditors and unsecured creditors via video conference on March 31 to consider the proposed merger of Schablona India Ltd with Somany Ceramics Ltd, in accordance with an order adopted by the Kolkata Bench of the Court national company law.
Welspun India Ltd: The company’s board of directors will meet on March 3 to consider issuing debentures, bonds or any other form of borrowing and to consider approaching shareholders for fundraising, he said. declared in a record of the regulatory body.
HCL Technologies Ltd: HCL Technologies’ HCL America Inc. unit will engage in discussions with some potential investors and analysts outside India on the proposed issuance of unsecured senior dollar-denominated fixed rate notes, he said. declared in a regulatory dossier. A preliminary offering memorandum has been prepared in connection with the proposed issuance of the Notes, which will not be offered or sold in India.
Vedanta Ltd: The company has entered into a facility agreement with its units Vedanta Holdings Mauritius Ltd, Vedanta Resources Ltd and Vedanta Holdings Jersey Ltd for $350 million. The agreement requires the entities to retain control of Vedanta Ltd. A share guarantee agreement was also signed on February 24, 2021 whereby a pledge was created over all shares held by Vedanta Jersey in Vedanta to secure the obligations secured in connection with the facility. . The disclosure was made by First Abu Dhabi Bank PJSC as Facility Agent under the Facility Agreement.
Axis Bank Ltd: The bank has entered into a Memorandum of Understanding (MoU)]between consortium members seeking to establish a pan-India (national) umbrella entity for retail payments, subject to required regulatory approvals, it said in a regulatory file.
Just Dial Ltd: The local search engine operator said HDFC Mutual Fund had reduced its stake in Just Dial by 2.73% from 7.65%, raising the stake to 5.60% of the company’s paid-up share capital. ₹61.8 crores comprising 61,871,912 shares.
Stovec Industries Ltd: The company’s board of directors has recommended a dividend of ₹22 per capital share of ₹10/- each for the financial year ended December 31, 2020, subject to the approval of the members at the next annual general meeting.
Gammon India Ltd: The company said in a regulatory filing that Gammon and Billimoria Ltd ceased to be its subsidiary after it agreed to sell the unit for consideration of ₹5.10 million. The deal is expected to be completed by March 15.
Hindustan Aeronautics Ltd: The company’s board of directors has declared a second interim dividend of ₹ 15 per capital share of ₹10/- each fully paid for FY21.
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