The ₹418 crore claim from the original promoter is as per the terms of the indemnity agreement. While selling the stake to Reliance Industries, Shapoorji Pallonji Group provided indemnity that it will reimburse net liability arising from past liquidated damages if it exceeds ₹300 crore.
US-based private equity major TPG Capital on Friday sold its entire 11.25 per cent stake in automobile dealership chain Landmark Cars for Rs 293 crore through an open market transaction. With this transaction, TPG has exited the automobile dealership company.
Acuité has downgraded its short-term rating to ACUITE A1 from ACUITE A1+ on the Rs.200.00 Cr. Commercial Paper Programme of Sterling & Wilson Renewable Energy Limited.