Polycab to acquire Silvan Innovation Labs Private Limited
NEW DELHI: Polycab India Limited (PIL) has signed an agreement to acquire 100% stake in Silvan Innovation Labs Private Limited (Silvan). Silvan is a technology company focused on providing cutting edge automation offerings for homes, offices, banks, retail outlets, hotels and other spaces. Silvan pioneered the concept of home automation in the Indian residential building […]
PNB Housing says pricing for Rs 4,000 crore-deal in line with applicable law
NEW DELHI: Amid concerns raised in certain quarters about its proposed Rs 4,000 crore-deal with Carlyle group, PNB Housing Finance on Wednesday said the process followed in determining the issue price for its securities was in line with the “market practice” followed by listed companies and in compliance with the applicable law. Responding to clarifications […]
Mehul Choksi siphoned off Rs 6,345 crore PNB loan through Hong Kong firms: CBI
NEW DELHI: Absconding businessman Mehul Choksi was running a “circular trade” with companies propped up by him as pearl suppliers in Hong Kong, through which he had managed to siphon off over Rs 6,345 crore borrowed from Punjab National Bank, the CBI has alleged in its supplementary charge sheet in the loan fraud case. The […]