Milkfood announced that Asha Gadi (DIN: 00110734), an Independent Director of the Company has resigned with effect from 04 July 2022.

Tata Power has signed a Memorandum of Understanding (MoU) with the Tamil Nadu Government to invest approx. Rs 3,000 crore for setting up a greenfield 4GW Solar Cell and 4GW Solar Module manufacturing plant in Tirunelveli District of Tamil Nadu.

The MoU outlines the commitment made by both parties to stimulate clean energy transition and employment in the state. The investment in the plant will be made over a period of 16 months and will directly or indirectly create over 2,000 employment opportunities with majority of them being women employee.

Tata Steel through its listed subsidiary Tata Steel Long Products (TSLP) has today, i.e. 04 July 2022 completed the acquisition of stake in Neelachal Ispat Nigam (NINL). The transaction has been completed for an aggregate consideration of Rs 12,100 crore as per the terms and conditions of the Share Sale and Purchase Agreement entered into by the Company in accordance with the process which was carried out by Department of Investment and Public Asset Management (DIPAM). As part of the acquisition, the following have been completed:

1. Subscription of 48,43,75,000 equity shares of face of ₹10/- each aggregating to Rs 3,100 crore by TSLP;

2. Subscription of 0.01%, 45,60,54,252 Non-Convertible Redeemable Preference Shares of face value of Rs 100/- each aggregating to approx. Rs 4,560.54 crore by TSLP.

3. Purchase of 69,40,29,741 equity shares by TSLP from MMTC, NMDC, MECON, Bharat Heavy Electricals, Industrial Promotion and Investment Corporation of Odisha, and Odisha Mining Corporation for the balance consideration.

Consequently, NINL has become a subsidiary of TSLP and an indirect subsidiary of Tata Steel.

The Board of Steel Strips Wheels will meet on 19 July 2022 to consider sub-division of equity shares of the company from face value of Rs 5 per equity share to Re 1 per equity share.

Yash Trading & Finance will hold a meeting of the Board of Directors of the Company on 22 July 2022.

The Board of Saianand Commercial at its meeting held on 04 July 2022 has approved sub- division of company's 1 (One) equity shares of face value of Rs. 10/- each into 10 (Ten) equity shares of face value of Rs. 1/- each subject to approval by shareholders in forthcoming Annual General Meeting.

IOL Chemicals & Pharmaceuticals has received reaffirmation in credit ratings from CARE as under:

Long term bank facilities (Rs 140 crore) - CARE A+; Stable
Short term bank facilities (Rs 410 crore) - CARE A1+

JM Financial announced the cessation of the following directors on completion of their second term on 02 July 2022:

1. E A Kshirsagar (DIN: 00121824);
2. Dr. Vijay Kelkar (DIN: 00011991);
3. Paul Zuckerman (DIN: 00112255); and
4. Keki Dadiseth (DIN: 00052165).

MMTC has transferred its share of 49.78% of the issued and paid-up equity share capital of Neelachal Ispat Nigam (NINL) to Tata Steel Long Products (TSLP), the successful bidder selected through the two-stage auction procedure involving a competitive bidding process, run under the aegis of Department of Investment & Public Asset Management (DIPAM), for a consideration determined in accordance with and subject to the terms of the Share Purchase Agreement, Escrow Agreement and other related ancillary agreements (Definitive Agreements).

Bharat Heavy Electricals announced that in relation to the divestment of Neelachal Ispat Nigam (NINL), the company has successfully sold and transferred 0.68% of the issued and paid-up equity share capital of NINL to Tata Steel Long Products (TSLP), the successful bidder selected through the two-stage auction procedure involving a competitive bidding process, run under the aegis of Department of Investment & Public Asset Management (DIPAM), for a consideration determined in accordance with and subject to the terms of the Share Purchase Agreement, Escrow Agreement and other related ancillary agreements (Definitive Agreements).

Dredging Corporation of India announced the appointment of Arun Kumar Gupta as an Additional Director of the company with effect from 04 July 2022.

Swiss Military Consumer Goods will hold a meeting of the Board of Directors of the Company on 11 July 2022.