Grasim Industries in focus

Grasim Industries informed that the Competition Commission of India (CCI) has passed an order imposing a penalty of Rs 301.61 crore on Grasim Industries in respect of its domestic Man-Made Fibre turnover. While the company is yet to receive the order of the CCI, it believes that on merits it has sufficient grounds for an appeal.

Delta Corp said the casinos operated by the company and its subsidiaries in Goa will remain closed until 31 March, 2020, and will be reviewed thereafter for further course of action. The company is unable to estimate the quantum of potential losses on account of the impact of this closure and the coronavirus pandemic at this time.

CSB Bank said the company's board has approved the proposal to merge 19 branches of the bank with the nearest branches of the Bank, with the intention of reducing overall costs and improve productivity.

Indian Oil Corporation said the company has issued 29,950 unsecured, rated, taxable, redeemable, non-convertible debentures (Series - XVI) of Rs 10,00,000 each aggregating to Rs 2,995 crore on private placement basis to meet its capex requirements.

KEC International said the company has completed the acquisition of 100% shareholding of its step-down subsidiary KEC International (Malaysia) Sdn. Bhd. from KEC Global Mauritius, a wholly owned subsidiary of the company.

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