1. Hero MotoCorp enters into settlement agreement for EBR’s consulting biz
Hero MotoCorp has entered into a settlement agreement with the Receiver appointed by the US Court for Erik Buell Racing after it filed for bankruptcy. As per the agreement Hero will acquire ownership of certain tangible and intangible assets of EBR for USD2.8mn. Hero and the Receiver have entered into an agreement to resolve all disputes and give mutual releases.
2. IRB Infra achieves financial closure for Kaithal Tollway project
IRB Infrastructure Developers announced that Kaithal Tollway, wholly-owned Subsidiary of the Company, has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project finance of Rs1,400 crore.
3. Power Grid approves Rs307 cr investment for transmission project
Power Grid Corporation of India has announced that the Board of Directors of the Company at its meeting held on July 24, 2015, have accorded the investment approval for 'Transmission System associated with RAPP 7 & 8 Part-B’ at an estimated cost of Rs307.18 Crore, with commissioning schedule of 28 months from the date of investment approval, matching with the Implementation Agreement (IA) signed with the generator.
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