United Spirits said searches were initiated at multiple locations on October 16 by the Directorate of Revenue Intelligence. The company said the exercise was part of an industry-wide action and that it had provided documents and information sought by the agency.
Pritika Engineering Components has approved the allotment of 50 lakh equity shares to promoter Pritika Auto Industries against conversion of ₹32 crore in unsecured loans. It also allotted 12 lakh shares to non-promoter public investors for ₹7.68 crore in cash.
The company has proposed a postal ballot covering security over assets and subsidiary shares, promoter-related guarantees and an increase in borrowing limits. The resolutions relate to a proposed issue of senior, secured, rated, listed, redeemable, taxable and transferable non-convertible debentures.
Persistent Systems Limited’s Special Committee has approved terms for issuing non-convertible debentures worth up to ₹8,000 crore and commercial paper of up to ₹1,000 crore. The approval followed an Extraordinary General Meeting and prior board authorisations.
Fleur Hotels, a subsidiary of Lemon Tree Hotels, said the Central GST Appeals authority in Dehradun partially allowed its appeal against a demand, penalty and interest order. The authority held that interest liability would not arise on the irregular input tax credit in the matter.