Cineline India, Rushil Decor and FSN E-Commerce Ventures to see some action today

Cineline India has announced the opening of 4 screen multiplex at Pacific Mall, situated at Plot No.1, Site IV, Sahibabad Industrial Area, Sahibabad, Gaziabad, Uttar Pradesh with a capacity of 1,311 seats. The cinema is equipped with recliner seats for enhanced comfort and 2K + 4K projectors that deliver high resolution, sharp and bright images. In addition, the Audi's are equipped with 7.1 Dolby sound and 3D technology.

The Board of Directors of Rushil Decor at its meeting held on August 6, 2022 considered and approved the raising of fund by issuance and allotment of equity shares up to an amount not exceeding Rs 200 crore including premium, by way of issue of equity shares through rights issue in accordance with applicable laws.

FSN E-Commerce Ventures has approved the acquisition of 100% of the fully diluted share capital (Equity Shares) of Iluminar Media (known as 'Little Black Book'). The transaction will enable the company to strength its content delivery, drive discovery for brands and make shopping experience more engaging for the customers. The transaction is expected to be completed within 60 days of execution, subject to completion of CPs under the agreement. The Board of Directors of the Company at its meeting held on August 5, 2022 has approved the same.

Indian Hotels Company (IHCL) has signed its first hotel under the Taj brand in Ranthambore, Rajasthan. The currently operational hotel will be rebranded as Taj post upgradation. This hotel is a management contract with The Footprints Ranthambore. With the addition of this hotel, IHCL will have 19 hotels across brands in Rajasthan including seven under development.

Tata Motors is showcasing next-gen mass mobility solutions at Prawaas 3.0 for a safe, smart and sustainable tomorrow. The company presents seven cutting-edge mass mobility solutions at Prawaas 3.0, scheduled from August 5 to 6, 2022 in Hyderabad. Tata Motors exhibits a robust product portfolio of passenger commercial vehicles across multiple fuel options at the third edition of India’s flagship bus and car travel show. Aligning itself with the ‘Towards safe, smart and sustainable passenger mobility’ theme at Prawaas 3.0, Tata Motors displays modern and sustainable solutions for both last-mile and long-haul mass mobility needs.

GMM Pfaudler is planning to increase its stake in GMM International S.a.r.l (GMMI) to 100% by acquiring the balance 46% stake i.e., 26% held by Millars Concrete Technologies (Patel family) and 20% held by Pfaudler International S.a.r.l (which is controlled by funds managed by Deutsche Beteiligungs AG under DBAG Fund VI). With this transaction, GMMI will become a wholly owned subsidiary of the company.

REC has sanctioned Rs 22,000 crore to power distribution companies (discoms) to clear their outstanding dues. The financial assistance has been provided to the discoms of Jharkhand, Rajasthan, Chhattisgarh, and Jammu & Kashmir under the government's Late Payment Surcharge and Related Matters Rules 2022 (LPS rules). The Ministry of Power had brought in electricity LPS rules 2022 to address mounting dues of the state power utilities, which have now crossed Rs 1,50,000 crore.