Exide Industries: Exide Industries Ltd has settled a trademark dispute with the UK’s Vertiv Company Group Ltd. and India’s Vertiv Energy Pvt. Ltd. The resolution involves an agreement that the trademark “Chloride” and its variants in India are registered by Exide. Trademark disputes are common in business, and settlements often involve agreements on the use of specific brand names or trademarks to avoid legal conflicts.
Aurobindo Pharma: The United States Food and Drug Administration (US FDA) concluded a pre-approval inspection of Unit-I & III of Aurobindo Pharma subsidiary APL Healthcare’s formulation manufacturing facility in Telangana. The inspection, conducted from November 13-17, was closed with “no action indicated,” and there were zero observations. Zero observations typically indicate that the facility and processes meet the regulatory standards, which is a positive outcome for the company.
Larsen & Toubro: Qatar’s General Tax Authority has fined the company ₹111.31 crore for the fiscal year 2016-2017 and ₹127.64 crore for the fiscal year 2017-2018. L&T has filed an appeal, stating that the fines are arbitrary and unjustified. Tax-related matters and disputes can have financial implications for companies, and appeals are common in such cases. Companies typically challenge fines or penalties that they believe are not in accordance with tax regulations or are unjustified.
Bajaj Finance: The company has temporarily stopped issuing EMI (Equated Monthly Installment) cards to new customers. The decision is in response to certain deficiencies observed by the Reserve Bank of India (RBI), and Bajaj Finance aims to rectify these issues to the satisfaction of the regulator. Compliance with regulatory requirements is crucial for financial institutions, and companies often take corrective measures to address any concerns raised by regulatory authorities.
Cipla: The company has pledged a guarantee of ZAR 945 million to FirstRand Bank in South Africa. This guarantee is intended to facilitate the extension of general banking facilities to Cipla’s subsidiary, Medpro Pharma.
RITES: That Rail India Technical and Economic Service (RITES) secured a tender for 10 diesel-electric locomotives from CFM Mozambique. However, RITES did not win the bid for 300 high-side wagons, which went to a different bidder.
Kalyan Jewellers: Kalyan Jewellers FZE, a subsidiary of Kalyan Jewellers India, has acquired the remaining 30% stake in Kalyan Jewellers LLC Oman. As a result of this acquisition, Kalyan Jewellers LLC Oman is now a wholly-owned subsidiary of Kalyan Jewellers FZE.
