Yes Bank announced after market hours yesterday, 13 February 2019, that the Reserve Bank of India (RBI) assesses compliance by banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP) as part of its supervisory processes. As part of this process, Yes Bank has received the Risk Assessment Report for FY2018. The report observes NIL divergences in the bank's asset classification and provisioning from the RBI norms.
Dewan Housing Finance Corporation (DHFL) announced after market hours yesterday, 13 February 2019, that due to full-time engagement with other assignments within the company, Harshil Mehta, has expressed his desire to resign from the position of whole time director (designated as joint managing director & CEO) from the board of directors of the company with immediate effect. However, he would continue to be associated with the company and shall hold the designation of executive president-retail business with effect from 14 February 2019. The board of directors of the company have accepted his aforesaid resignation from the board with effect from 13 February 2019.
The Nomination and remuneration committee of the board of directors of the company has recommended to the board the appointment of Sunjoy Joshi as an independent director and Srinath Sridharan as a non-executive director of the company subject to receipt of requisite approvals from the regulatory authorities.
ABB India announced after market hours yesterday, 13 February 2019, that its board discussed segregation of the company's power grids business from the other businesses conducted by the company. Following such discussions, the board granted in-principle approval for the segregation of the company's power grids business from the company's other businesses. Having discussed various options for structuring such segregation, the board determined that a court-approved demerger is the preferred option. The board authorised the management of the company to take preparatory steps in this regard, including the appointment of advisors and presentation of a detailed proposal for a demerger. The board will consider the detailed proposal before making a final decision and the company will make appropriate disclosures to the stock exchanges once the board has taken a final decision in this regard.
Trident has been granted a patent for 'Air Rich Yarn and Fabric and its method of manufacturing' by United States Patent & Trademark Office. The present invention describes the novel "Air Rich Fabric" and "Air Rich Yarns" with pores throughout the cross section of the yarn. The invention is directed at producing Air Rich Fabrics and Yarns which have high breathability, quick absorbency, easy dryability, and increased bulk. Unlike regular terry fabrics which become harsh after multiple washes, Air Rich Fabrics (Terry) retains softness and become more bulky even after multiple washes. That is why we call such fabrics- "Start Soft, Stays Soft". The grant of this patent provides further recognition of the quality of the innovation being carried out by the Trident team. The announcement was made after market hours yesterday, 13 February 2019.
Tata Power, The AES Corporation and Mitsubishi Corporation inaugurated India's first grid-scale battery-based energy storage system in Rohini, Delhi. This 10 MW project is located at Tata Power Delhi Distribution's (Tata Power-DDL) sub-station in Rohini, Delhi and will provide grid stabilization, better peak load management, add system flexibility, enhance reliability and protect critical facilities for 2 million consumers served by the company. The announcement was made after market hours yesterday, 13 February 2019.
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