Negotiable Instruments Act - High Courts should issue practice directions to Magistrates to record reasons before converting trial of complaints u/s 138 of the Negotiable Instruments Act from summary trial to summons trial: SC (See 'Legal Desk') IBC - There is no collusion between Liquidator and Respondent to defeat rightful claims of ex-workers: NCLAT (See 'Legal Desk') Airlines may cut losses to Rs 10,000 cr this fiscal: CRISIL (See 'Corp Brief') Ease My Trip, Cleartrip partner with MoT to strengthen tourism (See 'Corp Brief') Limitation Act - Reflection of debt in books of accounts amounts to acknowledgment of debt u/s 18 of the Limitation Act, 1963 - SC Lager Bench (See 'Legal Desk') PMLA - Bail application can be rejected considering nature of accusations against the applicant, his conduct and non-co-operation in investigation: HC (See 'Legal Desk') IBC - CIRP is time bound process and Appellant being outsider is neither aggrieved party in process of CIRP nor has locus standi to file the appeal: NCLAT (See 'Legal Desk') Arbitration – HC can interfere with impugned award u/s 34 to the extent it is patently illegal and erroneous on face: HC (See 'Legal Desk') IBC - Right to extend date of limitation can't be availed even without Debtor's acknowledgement of one's debt: NCLAT (See 'Legal Desk') L & T appoints Anil Rander as CFO Construction arm of L&T receives multiple orders worth Rs 2,500 crore Apple makes USD 200 mn Restore Fund to reduce carbon NIXI announces 3 initiatives to boost adoption of IPv6 (See 'Corp Brief') Microsoft to promote digital agriculture in 100 Indian villages (See 'Corp Brief') Mall revenues to be lower than pre-pandemic level in FY22: CRISIL (See 'Corp Brief') Dassault Systemes Foundation to support Indian entrepreneurs (See 'Corp Brief') Companies Act, 2013 - Conditions u/s 212(6)(b) ought to be fulfilled even when fraud committed u/s 447 causes no loss to public exchequer and interest: HC (See 'Legal Desk') IBC - Appeal should be dismissed as Appellant is not serious in pursuing his remedy before NCLT: NCLAT (See 'Legal Desk') SEBI Regulations - Mere 'forwarded as received' WhatsApp message circulated on group regarding quarterly financial results of Company closely matching with vital statistics some time before the publication of same does not amount to UPSI: SAT (See 'Legal Desk') Trade Mark Act - Plaintiff is prior user and adoption of impugned mark by defendant is prima facie dishonest: HC (See 'Legal Desk') Pandemic turns into 'Kalashnikov' - A Pogrom against the Poor!

Print

Siemens buys out C&S Electric for Rs 2,100Cr

Published: Mar 01, 2021

By TIOLCORPLAWS News Service

NEW DELHI, MAR 01, 2021: SIEMENS said on Monday it has acquired approximately 99.22 per cent stake of C&S Electric Limited from its promoters for Rs. 2,100 crore.

Siemens Limited, the flagship listed company of Germany-based Siemens AG in India, said the the acquisition will enable it to address the competitive low-voltage power distribution market in India while creating a manufacturing hub to source low-voltage products for export.

"Apart from gaining access to the Indian market, the transaction is also aimed at creating an export hub," it said.

C&S Electric is a leading manufacturer and exporter of electrical and electronic equipment in India, including low-voltage switchgear and power busbars as well as protection and metering devices.

Siemens had received regulatory approval from the Competition Commission of India on August 20, 2020.

Siemens India focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalisation in the process, discrete and hybrid manufacturing industries.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiainternational
taxindiaonline
tioltube
tioltube
A Taxindiaonline Website. Copyright © 2016-2019 Taxindiaonline.com Pvt.Ltd. All rights reserved.