HNGIL Appoints Loknath Sahoo as Finance Controller
Hindusthan National Glass & Industries Limited (HNGIL), India’s largest container glass manufacturer, has announced the appointment of Loknath Sahoo as Finance Controller, effective immediately. The appointment follows HNGIL’s acquisition by Independent Sugar Corporation Limited (INSCO), part of the Madhvani Group, in September 2025.Loknath Sahoo brings over two decades of experience in financial management and business strategy across multinational manufacturing organisations, including Tyco, Caterpillar, 3M and Otis. In his new role, he will oversee finance operations, drive strategi..
REC Secures ‘Excellent’ MoU Rating for Third Straight Year
REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has achieved an ‘Excellent’ MoU rating for the financial year 2024–25. The Memorandum of Understanding was signed with its holding company, Power Finance Corporation Limited, and the rating was awarded by the Department of Public Enterprises (DPE), Ministry of Finance, in line with prescribed guidelines. This marks REC’s third consecutive year of securing the top MoU rating.The MoU framework, instituted by the Government of India, evaluates the performance of Central Public Sector ..
Powerplay Rolls Out Project-Linked Credit for Contractors
Powerplay, India’s construction technology platform, has announced the rollout of Powerplay Credit, a project-linked working capital solution aimed at easing cash flow constraints faced by contractors during active project execution.Powerplay Credit is currently live across key construction markets in South India, where contractors typically manage multiple sites and operate within extended payment cycles. Following early on-ground validation, the company is scaling adoption across the region, with plans to expand nationwide in 2026.The rollout comes amid heightened activity in India’s con..
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