Amara Raja ends partnership with Galla Family, JC (Mauritius) & JC Battery Group
Shares of Amara Raja Batteries extended a decline in today session on the BSE. The company said in the BSE filing that it has terminated shareholder agreement between Galla Family and Johnson Controls (JC) and consequent termination of other agreements entered by the Company with JC.
In November 2018, Johnson Controls International PLC announced its intention to sell its Power Solution business. Consequently, JC and the Galla Family reached an agreement by which Galla Family would acquire 2% equity shares of the company from JC and terminate the shareholder agreement with effect from April 1, 2019. Consequent to the termination of the shareholders agreement, the other Agreements mentioned above also stand terminated with effect from April 1, 2019, the company said in the BSE filing.
Delhi HC rejects HUL's plea on Emami's Fair and Handsome
Fair and Handsome Fairness Cream, one of the power brands of Emami Limited, has once again come on top when the Honble Delhi High Court ruled against the appalling claims of Hindustan Unilever (HUL) against Fair and Handsome latest TVC starring Vidyut Jammwal.
In a significant ruling, the Delhi High Court in its judgement on March 27, 2019, has upheld the right of Fair and Handsome to run the advertisement that shows how women fairness creams are not designed for use on menâ tough skin. The Court has rejected HUL plea who claimed Fair and Handsome TV Commercial to be disparaging to its own brand Fair & Lovely.
Lupin Bioresearch Centre gets no observation in USFDA inspection
Pharma major Lupin announced the successful completion of the United States Food and Drug Administration (USFDA) inspection at its Lupin Bioresearch Centre (LBC) without any observations.
This is the fifth successive inspection without any 483 observations, indicating superior quality compliance maintained at this global bioresearch facility, the company said in the BSE filing.
Mindtree appoints Khaitan, ICICI Securities to advises on L&T open offer
Mindtree independent director committee has appointed Khaitan and Co. as the legal advisor and ICICI Securities Ltd as the financial advisor for making recommendations to the company shareholders on the open offer to be launched by Larsen and Toubro Ltd.
The committee, formed last week after L&T released details of the open offer to acquire 31% shares in Mindtree, held its first meeting on Tuesday, Apurva Purohit, chairperson of the panel, said in a statement.
Wipro completes divestment of Workday, Cornerstone on Demand Business
Wipro in its filing to the exchanges informed that the divestment of Wipro's Workday & Cornerstone On Demand Business in various jurisdictions, except Portugal, France, and Sweden, has been completed effective March 31, 2019.
The company received aggregate consideration of $95.27mn out of $100mn towards the same. "The impact of this divestment is expected to reflect in the financials of the company for the quarter and year ended March 31, 2019," the company said in a press note after markets hours to the exchanges on Tuesday.
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