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Johnson Controls to acquire 60% stake in Hitachi Appliances

US-based Johnson Controls and Japan’s Hitachi Appliances have formalised their agreement to form a joint venture that will acquire Hitachi Appliances’ global air-conditioning business. The deal was announced in December 2013 and was to have started operations in 2014, but its closure has stretched all the way till 2015.

UB Engineering: the queer case of a company with no board

UB Engineering does not have a board any more as the company announced that its two remaining directors have resigned too. On Thursday, the Vijay Mallya-group engineering company said that Alfred Tuinman, executive director (commercial), had resigned with effect from April 3, 2014.

Bharti Airtel to transfer data centre business to Nxtra Data for Rs 177 crore

Bharti Airtel is seeking permission from its shareholders to transfer its data center and managed services (DCMS) business to a subsidiary company. The company’s board had given its permission for the transfer in July.

Govt hikes gold and silver duties

The Indian government took yet another step to limit the imports of gold and silver, to counter the country’s widening current account deficit. Gold is an asset that may be viewed as being unproductive by some but Indians have traditionally viewed them as a safe investment and a coveted accessory.

M&M to take over trucks from Mahindra Trucks and Buses

Mahindra and Mahindra (M&M) is planning to take over the trucks business of its subsidiary Mahindra Trucks & Buses. The business will be transferred to M&M through a scheme of arrangement, after being approved by M&M’s board .

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