· $10 million investment and 800 jobs for highly skilled operators and engineers · A diverse workforce, including a significant proportion of female employees · Wholly owned electrical wiring interconnection systems business in Pune, India A year after opening its new factory all-new facility for Electrical Wiring Interconnection Systems (EWIS) in Pune, India. GKN Aerospace shipped its first product to the customer. Maarten Durville, Managing Director: “As a supplier in the aeroplane industry, we were severely impacted by the pandemic and the lockdown. Just when we had trained our team to Aerospace level, we had to shut down. I am very proud that we can leave this chapter behind us and ship the first product. We can look forward again: the lockdown was just a delay in our growth plan, we have added 50 employ...
SEBI has slapped a penalty of Rs.15 lakhs to Kirloskar Industries (KIL) Director, AN Alawani for indulging in fraudulent and unfair trade practices and alleged that he helped the promoters who owned 15% of the company to walk away with Rs. 275 crores . The regular has also barred him from the capital markets for period of six months. Even though Mr. Alawani did not trade in shares in his own personal trading account, SEBI in their note said he was an insider as he was in possession of the UPSI. He was trading as an authorised “agent” for and behalf of the Kirloskar Industries (KIL). The note added that he aided KIL promoters in selling their shares of Kirloskar Brothers Ltd (KBL) to Kirloskar Industries (KIL) thus together have allegedly committed fraud on KIL and public/ minority shareholders of the company. In KBL ’s board meeting held on 27th July 2010, the management disclosed the poor profitability of KBL . This was clearly confidential informat...