Coratia Technologies Raises Rs 50 Million from Piper Serica
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Tata Power Loses $490 Million Arbitration Challenge
Tata Power has lost a legal challenge to an arbitration award worth $490 million after a tribunal in Singapore dismissed the firm's petition. The ruling upholds an earlier arbitration decision and leaves the award intact against the company. The outcome concludes a chapter in a commercial dispute that had been contested in international arbitration. The company said it is reviewing the tribunal's decision and assessing its legal and financial options. Tata Power will evaluate the impact on its accounts and consider available remedies under applicable law. The firm indicated that it will engage..
Indian Railways to Four-lane Seven High-density Routes
Indian Railways (IR) intends to four-lane seven high-density routes that carry a major share of the country's rail traffic. The routes span nearly 11,000 km and account for around 41 per cent of total railway traffic while covering just 16 per cent of the network. The seven corridors connect major cities and regions, including Delhi-Howrah, Howrah-Chennai, Chennai-Mumbai, Mumbai-Delhi, Delhi-Chennai, Mumbai-Howrah and Delhi-Guwahati. The project aims to create four railway lines across the high-density network to increase capacity on some of the busiest routes. Phased implementation is planned..
Vande Bharat Sleeper Prototype Expected This Financial Year
Manufacturing work is progressing at the upgraded Marathwada Rail Coach Factory in Latur, with the first prototype of the Vande Bharat sleeper train expected to roll out during the current financial year, the company said at its annual general meeting. RVNL chairman Saleem Ahmad provided the update at the firm's 23rd annual general meeting. RVNL and Russian firm Transmashholding have formed Kinet Railway Solutions Ltd, an Indo-Russian joint venture tasked with manufacturing 120 Vande Bharat sleeper trainsets, each comprising 16 coaches, at the Marathwada factory in Maharashtra. The first proto..
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