BASF India Limited

BASF India has completed the transfer of Company’s Coatings business to BASF India Coatings Private Limited, 100% wholly owned subsidiary for a consideration of Rs. 182 crore. Post-closing, the purchase consideration of Rs. 182 crore will be adjusted to the extent of the fair values of net assets transferred as per the terms of the Business Transfer Agreement and Section 50B of the Income Tax Act, 1961.

Welspun Enterprises Limited

Expansion in the role of Saurin Patel, Managing Director, Welspun Michigan Engineers Limited (WMEL), the material subsidiary of the company. Patel in addition to his current roles and responsibilities, will lead the newly integrated company’s water vertical i.e. the operations of the current and future projects of both the company and WMEL, driving execution excellence and fostering a culture of innovation.

Yogen Lal, from his current role of CEO – Water Vertical, will assume the leadership of Strategy and Business Development for the integrated Water Vertical and he will report to Saurin Patel.