Page 6 - Chennai

Sundaram Home expands presence in Chennai zone; aims Rs 50 cr disbursements

Sundaram Home Finance, a wholly owned subsidiary of non-banking finance company Sundaram Finance Ltd, has expanded its presence under the Emerging Business segment in the city, aiming to disburse Rs 50 crore over the next 12 months in the Chennai zone. The company inaugurated a new branch in Ambattur after establishing its first branch in Tambaram in January this year. In the Chennai zone, the company expects to register disbursements of Rs 50 crore. Sundaram Home Finance has already clocked disbursements of over Rs 200 crore in the Emerging Business segment and is looking to double this amount over the next 12 months, the company said. Commenting on the inauguration of the Ambattur branch, Sundaram Home Finance MD D Lakshminarayanan said, "Ambattur is rapidly growing into a separate township with increasing industrialization and a large number of manufacturing and IT firms in the area. We have been witnessing fast-paced infrastructure development in and around Ambattur." "In addit

NCLAT directs investigation against order passed by Chennai bench of NCLT

In a rare incident, appellate tribunal NCLAT has directed an investigation into an order passed by the Chennai bench of the National Company Law Tribunal (NCLT). The National Company Law Appellate Tribunal (NCLAT) has directed the President of NCLT to conduct an enquiry into an order passed by it on March 15, 2022 saying it "cannot ignore the fact that the manner in which the order of 15.03.2022, has been passed", appears "dubious" and "not plausible". The facts and submissions in the matter "raise questions over the functioning of NCLT", the appellate tribunal observed while passing the order. "The President, NCLT, is requested to look into the issue and conduct an enquiry, particularly in order to attach fairness to the proceedings of the NCLT so as to repose confidence in the public at large on these major issues," said two-member bench comprising Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain. Moreover, the Chennai bench of NCLAT also direct

India's data centre capacity to grow to 2,000-2,100 MW by March 2027: ICRA

India's data centre (DC) operational capacity is expected to increase to 2,000-2,100 MW by March 2027 from around 1,150 MW as of December 2024, on the back of data usage and data localisation initiatives, according to rating agency Icra. Indian data centre players are projected to invest Rs 2-2.3 lakh crore, with a development pipeline of 3-3.5 GW to be delivered over the next 7-10 years. "Driven by AI requirements, the global DC market has already witnessed multiple large deals (>300 MW) signed by hyperscalers and India is expected to follow the trend. This, coupled with favourable regulatory policies and an infrastructure status for the DC sector will support strong growth prospects in India in the coming decade," Anupama Reddy, Vice President and Co-Group Head, Corporate Ratings, Icra said. While cloud, 5G rollout, machine learning and internet of things (IoT) are expected to generate enormous data and storage requirements, GenAI-led high computing requirements present a new .

Danfoss Power Solutions begins work on ₹1,000 cr manufacturing unit in Pune

Danfoss Power Solutions, a global supplier of mobile and industrial hydraulics and electric powertrain systems, conducted a groundbreaking ceremony on Tuesday for the establishment of a state-of-the-art facility in Pune, with an investment of Rs 1,000 crore, the company said. This strategic investment will double the company's manufacturing footprint in India, driving innovation and supporting sustainability initiatives. The facility in Talegaon, Pune, will be Danfoss' seventh manufacturing unit in India. The company currently has additional manufacturing facilities in Chennai, Mumbai, Vadodara, Bengaluru, and two other units in Pune. Spread across 44 acres, the proposed facility in Talegaon will enhance Danfoss' production capacity for existing products, including pumps, motors, cylinders, and valves. It will also manufacture new product lines to meet growing customer demand, the Chennai-based company said in a statement. The Talegaon facility will strengthen Danfoss' ability to

Lok Sabha MP's secy loses over Rs 1L after calling fake helpline number

According to the police, the victim was attempting to book a train ticket from Chennai to Kumbakonam, Tamil Nadu, through a mobile application

Lennox India announces $6 million investment to expand Chennai GCC

The expanded GCC in Chennai is equipped with state-of-the-art facilities designed to support Lennox's global operations in HVACR solutions

Ed Sheeran concert: Chennai traffic police issues advisory on diversions

Pop singer Ed Sheeran is on his India tour and his shows will take place in six cities. After Pune and today's Chennai shows, his next concert will be in Bengaluru, Hyderabad, Shillong and Delhi

Ed Sheeran 2025 India Tour: How to book tickets online, prices and more?

After Coldplay's thrilling concert, British pop sensation Ed Sheeran kicked off his six-city tour across the country from January 30. His upcoming performance will hit today at Chennai

Sridhar Vembu steps down as Zoho CEO; Shailesh Kumar Davey to succeed

In the surprise move, Vembu also added that he will be taking charge as the chief scientist of the company, overseeing the research and development division

Garuda Aerospace to deploy drones along Chennai coast to protect turtles

Drone manufacturer Garuda Aerospace would deploy its drones free of cost over the next three months, to take up surveillance along the city's coastline, to protect the endangered Olive Ridley sea turtles, the company said. The initiative comes in the backdrop of over 300 such turtles were found dead in recent times in Chennai coastal region. The plan aims to support the conservation efforts by combating illegal fishing practices. In a statement on Sunday, Garuda Aerospace said it was partnering with the Tree Foundation and the department of Forest and fisheries for this operation. "We are deeply concerned by the recent mass deaths of Olive Ridley turtles. The plight of the turtles demand immediate action and long-term solutions. By deploying our drones free of charge for the next three months, we are directly intervening to protect the nesting sites, deter illegal fishing and give these hatchlings a chance at survival," said Garuda Aerospace CEO Agnishwar Jayaprakash. "We believe t

Zepto launches women-only dark store in Madambakkam area of Chennai

This initiative ensures that every order placed in the region is managed entirely by an all-women team, from picking to packing

From Adani to Vedanta, global giants drop anchor in Thoothukudi Port race

Adani, Vedanta, DP World among key players vying for Rs 7K crore project; bids to open on February 11, first phase set to sail by 2028

Ceat Chennai unit enters elite league of WEF's Lighthouse Network

At the Chennai unit, the deployment of advanced analytics and real-time monitoring systems has resulted in a reduction of cycle times by 18% and operational costs by 31%

Indian Overseas Bank Q3 results: Net profit rises 21% to Rs 874 crore

The Chennai-based bank posted a total income of Rs 8,409 crore during the quarter under review versus Rs 7,437 crore in the same period last year

Exports will be key driver, growing at rate of 25% every qtr: MRF V-C & MD

MRF Vice-chairman about the company's growth strategy, export roadmap, and raw material price concerns, among others

Tamil Nadu to launch #BullishOnTN brand campaign at Davos to woo investors

Tamil Nadu has been invited to WEF to help shape the global narrative on "Collaboration for the Intelligent Age." The state will be participating in three WEF sessions

15 fishermen released from Sri Lankan prison arrive at Chennai airport

Tamil Nadu Fisheries Department officials received them at the airport and sent them to their respective native places

L&T launches second multi-purpose vessel for Navy from Kattupalli shipyard

Infrastructure major Larsen & Toubro (L&T) has launched the second multi-purpose vessel for the Indian Navy from its Kattupalli Shipyard near Chennai. The launch of the vessel, christened INS Utkarsh, comes within three months of the launch of the first MPV INS Samarthak. The first vessel is being readied for undergoing tests and trials prior to its delivery to the Indian Navy, L&T said in a statement on Tuesday. The multi-purpose vessels (MPVs) are highly specialised and play multiple roles, including serving as trial platforms, for the development of next generation weapons and sensors. They will perform maritime surveillance, humanitarian assistance, combat sea pollution, besides taking up launch and recovery of surface and aerial assets, etc. The design engineering of the MPVs has been undertaken at L&T's in-house warship design centre at Chennai and the construction is accomplished at the company's Katupalli Shipyard. L&T is also constructing three Cadet ...

Passenger train derails in Tamil Nadu, no one injured; traffic restored

A coach of a MEMU (Mainline Electric Multiple Unit) train bound for Puducherry derailed near Villupuram on Tuesday, an official said and a major accident was averted as the loco pilot noticed it and quickly halted the train. No one was injured and the traffic was restored in about 3 hours, the official said adding the cause of derailment would be known only following completion of an inquiry, which has been ordered. When the Villupuram-Puducherry train with approximately 500 passengers, soon after its departure from Villupuram at 5.25 am, was crossing a curve, a coach derailed and the loco pilot swiftly stopped the train. The derailment led to disruption of train services in the Villupuram route till 8.30 am. The Villupuram-Puducherry MEMU is a short distance train covering about 38 km.

Ecobox to invest Rs 400 cr on Chennai facility, buys 50-acre land

Ecobox Industrial Parks on Monday said it will be investing Rs 400 crore for a facility near Chennai. It has already acquired a 50-acre land parcel at Mannur, in Tamil Nadu, where a 12-lakh sq ft facility will come up, as per a company statement. The newly formed operating platform of Alta Capital's Logicap Advisors said it plans for a greenfield development on the land. "The project located three kms from SH 50, with a planned development area of 1.2 million square feet (mn sft) and an investment outlay of over Rs 400 crore, will serve the increasing demand for modern industrial and logistics facilities in India," the statement said. At present, Logicap has a total footprint of 13 million sq ft, making it the fifth largest logistics platform in the country, the statement said. The site is well connected to key industrial corridors and Chennai's manufacturing base, and the project is designed to support e-commerce, third-party logistics, and light manufacturing sectors. Alta was