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Motherson Sumi in focus as subsidiary forms JV with Ossia Inc

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Systems (MSSL) said that its subsidiary has formed a (JV) with According to the company, its subsidiary (SMRP BV) will hold majority share in the Globally, the JV will focus on the integration of into a wide range of non-military passenger, commercial and The announcement was made after trading hours yesterday, 9 January 2018.

of announced that its board approved investment for transmission system for ultra mega solar power park at Tumkur (Pavagada), - Phase-II Part-C at an estimated cost of Rs 92.13 crore with commissioning schedule of 20 months from the date of investment approval. The announcement was made after trading hours yesterday, 9 January 2018.

announced the successful conclusion of an Advance Pricing Agreement (APA) with the (IRS). The preliminary discussions with the IRS on the were initiated by the Company in 2015, followed by multiple rounds of discussions. Under the APA, the company and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the company's US operations. This agreement covers financial years from 2011 to 2021. The will enhance predictability of the company's tax obligations in respect of its US operations. The announcement was made after trading hours yesterday, 9 January 2018.

announced that the and CEO in consultation with the and the has approved the issuance of unsecured non convertible tier 2 bonds for an aggregate amount not exceeding Rs 150 crore on private placement basis. The other terms and conditions of the Issue such as tenor, coupon, maturity, terms of interest payment etc would be decided by the and/or the and/or the The announcement was made after trading hours yesterday, 9 January 2018.

Spice Mobility said that its subsidiary (SDL) has divested its entire equity stake in (Eduversity) pursuant to a share purchase agreement entered into by them. Further, Eduversity has ceased to be an associate of SDL. The announcement was made after trading hours yesterday, 9 January 2018.

will be in focus. With reference to the recent news item captioned "JSW Infrastructure - Srei to buy in Dahej", clarified that is being acquired by (Dahej) in consortium with JSW Infrastructure. (Dahej) is wholly-owned by Srei - (BNF), a category I, infrastructure fund registered with the (Sebi), in which Srei Alternative Investment Managers, a wholly-owned subsidiary of Srei, acts as an Srei is only acting as a lender to the above consortium. The clarification was issued after trading hours yesterday, 9 January 2018.

Balasore Alloys said that consequent upon a scheme of arrangement sanctioned by the of on 20 received by the company on 8 January 2018, Balasore Alloys, by virtue of the scheme being approved by the requisite margins of members and creditors of Atloys (ZAL), shall acquire either by itself and / or through its nominees and affiliates, 70% shares of Alloys (ZAL), currently under Judicial Management. ZAL holds 19,780 hectares of mining areas in different parts of Zimbabwe, which has proven resourcesof 72.25 million tones of chrome ore. Chrome, a wholly-owned subsidiary of ZAL has a ferro chrome plant. The clarification was issued after trading hours yesterday, 9 January 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 08:38 IST
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