Bharat Heavy Electricals (BHEL) recently achieved a significant milestone in Bhutan by successfully commissioning two units of the 6×170 MW Punatsangchhu-II Hydroelectric Project (PHEP-II). This project, located in the Wangdue district of Western Bhutan, features a Francis Turbine designed to operate at a rated head of 241 meters – the highest for any Francis Type Hydro Turbine in Bhutan. Once all six units are operational, the expected annual power generation will be 4,357 gigawatt-hours. Unit 1 and 2 were synchronized in December 2024.
PI Industries faced a classification dispute under the Customs Tariff for input material imported between July 2018 and November 2022. As a result, the company has been levied with a differential customs duty of ₹38.91 crore along with interest, penalties, and redemption fines totaling up to ₹43.91 crore.
Solex Energy Ltd achieved a remarkable 103% revenue growth in the current financial year, reporting consolidated revenue of ₹408 crore. This growth was driven by strong performance across all business verticals.
Lupin received the Establishment Inspection Report (EIR) from the US FDA for its Pithampur Unit-1 manufacturing facility, which produces APIs and finished products.
The Reserve Bank lifted business restrictions on Asirvad Micro Finance and DMI Finance, effective immediately. Asirvad Microfinance is the microlending arm of Manappuram Finance.
Kellton Tech Solutions’ board approved raising funds through the issue and allotment of up to 55 lakh warrants at ₹153.63 each, aggregating up to approximately ₹84.50 crore on a preferential basis.
The board of Kotak Mahindra Bank will meet on January 18 to consider the unaudited financial results for the quarter and nine months ended December 31, 2024, as well as a proposal for raising funds through issuance of debentures on a private placement basis.
MOIL Ltd received an order imposing a penalty of ₹16.77 crore for excess production in Tirodi Mine without Environmental Clearance/Consent to Operate during certain years. The company plans to appeal the order.
United Spirits received a GST demand order of ₹1.1 crore for the period from September 2017 to March 2020 from the Office of the State Tax Officer in Kerala.
Zee Media Corporation’s board will meet on January 13 to discuss raising funds through the issuance of equity shares or other eligible securities.
Control Print Ltd incorporated a wholly owned subsidiary, Control Print MEA FZE, in the United Arab Emirates to strategically invest and access global markets.
In conclusion, these recent developments in various industries highlight the diverse activities and challenges faced by companies in the current business environment. From achieving milestones in power projects to regulatory disputes and financial strategies, these news articles shed light on the dynamic nature of the business world.
