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TOP CORPORATE NEWS – 06 DEC 2019

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CORPORATE NEWS

RBI imposes penalty on Andhra Bank for violation of KYC, AML norms.

Andhra Bank informed the exchanges that the bank was penalized by RBI for an amount of Rs25 lakh for violation of Know Your Customer (KYC) norms and Anti-Money Laundering (AML) norms as well as standards related to opening of current accounts. The bank added that it has already taken preventive measures.

JSW Steel to file application with NCLAT in relation to Vardhman Industries acquisition.

JSW Steel informed the exchanges in furtherance to the company’s earlier communication on December 5, 2019 in relation to Resolution Plan submitted by the company for Vardhman Industries Limited (“VIL”).
The Resolution Plan of the Company has been approved by the Hon’ble NCLT, vide its orders dated December 19, 2018 and April 16, 2019 under the Insolvency and Bankruptcy Code, 2016.

Cadila Healthcare API manufacturing unit gets EIR from USFDA.

Shares of Cadila Healthcare slipped 1% on the BSE in the noon trade after its API manufacturing facility located at Dabhasa, Gujarat received an Establishment Inspection Report. The company API manufacturing facility located at Dabhasa, Gujarat has received an Establishment Inspection Report (EIR). The USFDA had conducted an inspection at the facility from October 7-11, 2019, the company said in the filing.

Maruti Suzuki recalls 63,493 Petrol Smart Hybrid variants of Ciaz, Ertiga and XL6 models.

Keeping in mind customer safety and as a responsible corporate, Maruti Suzuki India Limited announced to proactively and voluntarily undertake a recall for certain petrol Smart Hybrid (SHVS) variants of Ciaz, Ertiga and XL6 vehicles manufactured between 1st January 2019 to 21st November 2019.
Recall campaigns are undertaken globally to rectify faults that may be potential safety defects. The Company will inspect 63,493 vehicles of petrol SHVS of Ciaz, Ertiga and XL6 for a possible issue with the Motor Generator Unit (MGU). A possible defect may have occurred in the MGU during manufacturing by an overseas global part supplier.

Dr Reddy’s launches Deferasirox tablets in US market.

Dr. Reddy’s Laboratories Ltd. today announced the launch of Deferasirox Tablets for Oral Suspension, a therapeutically equivalent generic version of Exjade® (deferasirox) Tablets for Oral Suspension, approved by the U.S. Food and Drug Administration (USFDA). The Exjade brand had US sales of approximately $113 million MAT for the most recent twelve months ending in September 2019 according to IQVIA Health. Dr. Reddy’s Deferasirox Tablets for Oral Suspension, are available in 125 mg, 250 mg, and 500 mg dosage strengths in bottle count sizes of 30.


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