US FDA issued Form 483 with six observations after inspection at Glenmark Pharmaceuticals Limited formulations manufacturing facility based in Baddi, India from June 13-22, 2022. The company is committed to taking all necessary steps to respond to its observations at the earliest, it said in a notice to stock exchanges .

The board of directors of Allsec Technologies and QuessCorp at their respective meetings held on June 22 approved the Scheme of Amalgamation which provides for the merger of Allsec into Quess (Scheme). The merger is subject to approval by Quess and Allsec’s respective shareholders and creditors, stock exchanges, SEBI, National Company Law Tribunal and other regulatory authorities, as required. Until the program becomes effective, Quess and Allsec will continue to operate independently.

Spandana Sphoorty Financial Ltd founder and chief executive Padmaja Reddy, the company has resolved all disputes with her through a tentative agreement. In a notice to the stock exchanges, the company said that although Reddy has stepped down as MD, she will continue to be a significant shareholder and board member.

MosChip Technologies, a semiconductor and systems design and intellectual property services company, today announced the arrival of DVR Murthy as “Vice President of Strategic Initiatives.” DVR will lead the execution of MosChip’s strategic programs for SerDes IP, ASIC platforms for RISC-V and Edge Artificial Intelligence (AI) and other emerging technologies. MosChip has over twenty years of experience in designing semiconductor IPs, products and SoCs for IoT, networking, storage and consumer applications.

RIR infrastructure received an arbitration award of ₹308 crore. In a notice to the exchanges, IRB Infrastructure said it had received 75% of the ₹419 crore arbitration award from IRB Pathankot Amritsar Toll Road Ltd, a special purpose vehicle of IRB InvIT Fund. The court upheld the arbitral tribunal’s order and ordered the National Highways Authority of India to release 75% of the amount of the arbitration award, or ₹308 crore, to the company.

BPCL received approval from the Ministry of Corporate Affairs for the merger of Bharat Oman Refineries with itself. The Merger Regime will be made effective by both of them filing a copy of the Minister’s Order with the Jurisdictional Registrar of Companies.

Entertainment Imagicaaworld successfully completed its debt resolution and introduced new promoters to the board. The Board of Directors has approved the allocation of shares and 0.01% non-convertible redeemable preference shares on a preferential basis under the resolution plan agreed by the lenders under the RBI prudential framework.

GPT Infraprojects placed an order worth ₹292 crore for execution of viaducts, major bridges, ROBs, supply of vehicles, site facilities and other related works for Khurda Road-Bolangir link New BG.

Published on

June 23, 2022