NFCL informs NCLAT Chennai extended stay on implementation order

Nagarjuna Fertilizers and Chemicals Limited (NFCL) has informed that the National Company Law Appellate Tribunal (NCLAT), Chennai, vide order dated December 15,2022, has extended stay on the implementation of the order dated August 27, 2021, passed by the NCLT' Hyderabad Bench, till the next date of hearing i.e., February 22' 2023.

Larsen & Toubro transfers its shareholding in L&T IDPL

Larsen & Toubro Limited (L&T) has entered into a share purchase agreement to transfer its entire shareholding in L&T Infrastructure Development Projects Limited (L&T IDPL) along with its subsidiaries on December 16, 2022.

On completion of the sale under the agreement, L&T Infrastructure Development Projects Limited along with its subsidiaries shall cease to be subsidiary companies of L&T. LTIDPL, a joint venture between Larsen & Toubro Limited and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively.

EIL gets assignment from Mundra Solar Technology

Engineers India Limited (EIL) has secured an assignment for providing Owner’s Engineer Services for 30,000 MTPA Polysilicon and 500 MTPA Monosilane Project from Mundra Solar Technology Limited, a group company of Adani Enterprises Ltd., in one of the niche sectors of Polysilicon production, which is the primary component for manufacturing Photovoltaic panels.

Conventionally, India has been dependent on import of Polysilicon and this would be a step towards realizing the vision of Atmanirbhar Bharat. This would also contribute towards the nation's target of achieving net carbon zero by 2070.

Oriental Informatics CDP rating upgraded   

Oriental Aromatics' Oriental CDP (formerly known as Carbon Disclosure Project) Rating has been upgraded to B (Management Level) in 2022 from B- (Management Level) in 2021. The above-mentioned rating achieved by the company is higher than the Asia regional average of C, and higher than the chemicals sector average of B-. CDP is an organisation that helps companies and cities to disclose their environmental impacts.