Orient Green Power Company today said its investment and borrowing committee has approved the proposal to divest 26 per cent equity shares held by it in Sanjog Sugars and Eco Power Private.
"Investment and Borrowing Committee meeting of Board of Directors of the company, at their meeting held on November 17, 2015, has approved to enter into a MoU with Chandrabhan Katewa to divest 26 per cent equity shares...
"... Held by the company in Sanjog Sugars & Eco Power through an investment vehicle to be identified by Chandrabhan Katewa subject to all required approvals," the company said in a BSE filing.
**************
Plans for Tower II project unveiled by INKEL * INKEL, a PPP initiative to promote infrastructure in Kerala, has unveiled plans for a Tower II project as the newly constructed tower at Business Park, Angamaly in Ernakulam district is set to be commissioned next year.
The tower, which has come up on 2.5 acres, offers a built-up space of 2.5 lakh square feet.
**************
Tamil Chamber of Commerce & Industry opens city chapter * The Tamil Chamber of Commerce and Industry today opened its offices in Mumbai with an aim to boost entrepreneurial ventures of the people of Tamil origin in the megapolis.
The chamber was inaugurated by the Shankaracharya Sri Swami Jayendra Saraswati of Kanchi Math.
**************
Mirae Asset Global Investments to launch new fund on Nov 20 * Mirae Asset Global Investments today said it will launch an open-ended equity linked fund, 'Mirae Asset Tax Saver Fund' (MATSF), on November 20.
The new fund offer period for the fund will be from November 20 to December 18. The fund will reopen for fresh purchases from December 29, a company statement said.
TNAU joins US-based World Food Preservation Centre
* Tamil Nadu Agricultural University has joined the World Food Preservation Center LLC in USA to reduce post harvest food losses in developing countries and diminish world hunger.
A Memorandum of Understanding was signed between TNAU and the World Food Preservation Center recently, the varsity said in a statement.
********************* NHPC appoints part-time directors
* NHPC today announced the appointment of Satya Prakash Mangal, Kanika T Bhal, Arun Kumar and Farooq khan as non-official part-time Directors on the Board of the company for a period of three years.
********************* Power Grid appoints Jagdish as part-time director * State-run Power Grid Corp today announced the appointment of Jagdish Ishwarbhai Patel as part-time non-official Director for a period of three years with effect from November 17, 2015.
********************* Homelane.Com appoints Jayanth P Mysore as CPO * Home furnishing solutions firm Homelane.Com today announced the appointment of Jayanth P Mysore as its Chief Product Officer.
Jayanth will head HomeLane's consumer experience, the company said in a statement.
As a Product Manager at Google, he was instrumental in launching core features of Google Maps, Google Analytics and Google Checkout.
Vodafone begins 3G rollout in Rajasthan
* Vodafone India today said it has begun the roll-out of 3G services on its own network in Rajasthan.
The company has built the network on 2,100 MHz. The company has already built over 1,100 cell sites across Rajasthan and will continue to expand in a phased manner and complete the roll out of 3G on its own network across the state by February 2016.
At present, Vodafone has been providing 3G services to its customers in Rajasthan through intra-circle roaming arrangements with other operators.
* * * * * *
Ray Power signs deal with SECI for 10 MW rooftop solar system * Solar power EPC and development firm Rays Power Experts today said it has signed a pact with Solar Energy Corporation of India (SECI) for 10 MW of Rooftop Solar PV system in the country.
"Rays Power Experts...Signed a contract with Solar Energy Corporation of India (SECI) for 10 MW of 'Rooftop Solar PV system under 50 MW Rooftop Grid Connected scheme of CPWD in the states of India. It is a 25 year long tariff agreement on RESCO model," the company said in a statment.
** * * *
Tata Communication launches solution for voice services * Tata Communications today launched a solution that will enable service providers to expand their voice services to customers through its global network.
The company has launched its flagship Global SIP Connect service as a white-label solution for service providers.
"The SIP trunking offering will enable service providers to expand their voice services to customers through Tata Communications global network reach and unified communications portfolio without major up-front investment in building their own solution," it said in a statement.
(REOPENS DCM 118)
Indian Angel Network invests in UK-based Ascema * Indian Angel Network (IAN) today said it has invested an undisclosed amount in UK-based Ascema.
The company provides technology solutions for locating, securing and controlling the movement of sensitive data and intellectual property within cloud collaboration environment and email systems.
Nitin Jain and Nitin Singhal have led this round of investment on behalf of IAN and joined the board of the company, IAN said in a statement.
Myanmar's Asia Green Development Bank partners Infosys
* Infosys Finacle, a part of EdgeVerve Systems (Infosys' product subsidiary), today said it has partnered with Myanmar's Asia Green Development (AGD) Bank to deploy its solution.
However, no financial details were disclosed.
Under the partnership, AGD will adopt the Finacle Core Banking, Internet Banking, Mobile Banking and financial ecosystem solutions.
************
Radius Dev partners Deserve launch township project in Mumbai * Radius Developers has joined hands with Deserve Builders to develop an integrated township in suburban Chembur.
The project, Central Park, spread across 40 acres, will be developed in two phases. The first phase consists of towers housing studio suites, 1BHK, 1BHK premium and 2BHK apartments.
"The project that we launched today aims to foster community living that will redefine the neighbourhood. It will offer premium comfort and superior accessibility to its residents," Radius Developers Chief Operating Officer Ashish Shah said in a statement.
************
Problems far from over for engineering exporters: EEPC * An industry body said even as the rate of decline in overall exports has narrowed down in March, the problems faced by the engineering exporters have not yet subsided as their outward shipments dipped 11 per cent last month.
"While the rate of decline in overall exports has narrowed in March, the problems are far from over for the engineering exports which continued to drop by double digit for the month," Engineering Export Promotion Council (EEPC) India Chairman T S Bhasin said in a statement.
Engineering exports for March went down by over 11 per cent, he said, adding that certain policy corrections are required to help the exporters in distress.
