An alternative investment fund backed by SC Lowy has invested in non-convertible debentures (NCD) in the last week of March. While Pharande NCDs do not pay any interest up to June 30, 2024 and 14% until maturity on March 31, 2026, Srinagar Banihal has offered 16% on the NCDs. The proceeds will be used for loan repayments and for working capital, a source said.
The Delhi High Court single bench comprising Justice Sachin Datta held that an award suffering from internal contradictions is considered perverse and patently illegal under Section 34 of the.
Concern among minority shareholders about the Master Supply and Service Agreement proposed by Ambuja Cements is the main reason for the fall in share prices. They believe Sanghi Industries’ control on profitability will be limited under the agreement.
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