1. CCI Approvals for Acquisition of Various Entities- 14th March 2023
The fair trade regulator, Competition Commission of India (CCI), approved the following acquisitions on March 14, 2023 :
(i) Cummins Inc.'s acquisition of Meritor, Inc.
(ii) Reliance Retail Ventures (RRVL)'s acquisition of METRO Cash & Carry India
(iii) Epic Concesiones Private Limited's acquisition of 100% of the equity share capital of L&T Infrastructure Development Projects Limited and Infrastructure Yield Plus II's acquisition of Kudgi Transmission Limited.
CCI approves the Acquisition of METRO Cash & Carry India Pvt Ltd by Reliance Retail Ventures Limited (RRVL) :
The Competition Commission of India (CCI) has given its approval for Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (RIL), to acquire 100% of the issued and paid-up equity share capital of METRO Cash & Carry India Private Limited.
CCI approves the Acquisition of 100% of the Equity Share Capital of L&T IDPL by ECPL and KTL by IYP II :
The Competition Commission of India (CCI) has granted approval for two separate acquisitions. The first is the acquisition of 100% of the equity share capital of L&T Infrastructure Development Projects Limited (L&T IDPL) by Epic Concesiones Private Limited (ECPL) and Kudgi Transmission Limited (KTL) by Infrastructure Yield Plus II (IYP II).
ECPL will acquire 51% of the equity share capital of L&T IDPL from Larsen and Toubro Ltd, while CPPIB India Private Holdings Inc. will acquire the remaining 49%.
Meanwhile, IYP II will acquire 100% of the equity share capital of KTL, which is a wholly-owned subsidiary of L&T IDPL.
Acquirer 1 - Epic Concesiones Private Limited (ECPL)
Target 1 - L&T Infrastructure Development Projects Limited (L&T IDPL)
Acquirer 2 - Infrastructure Yield Plus II (IYP II)
Target 2 - Kudgi Transmission Limited (KTL)
CCI approves the Acquisition of Meritor, Inc., by Cummins Inc. :
The CCI has approved the acquisition of sole control of Meritor, Inc., by way of the purchase of shares by Cummins Inc.
Acquirer - Cummins Inc. (Cummins)
Target - Meritor, Inc. (Meritor)
2. DRDO conducted Sucessful Flight Tests of VSHORADS andc PTO Shaft
The Defence Research and Development Organisation (DRDO) achieved a milestone on March 14, 2023, by successfully conducting two consecutive flight tests of the Very Short Range Air Defence System (VSHORADS) missile at the Integrated Test Range (ITR) located in Chandipur, Odisha.
During the flight tests, the missiles were launched from a ground-based launcher that was man-portable. The missiles were aimed at high-speed unmanned aerial targets, which were programmed to simulate the movement of incoming and outgoing aircraft.
The mission objectives were completely fulfilled, making the tests a resounding success.
VSHORADS :
The purpose of the newly developed air defense system, which has been created in collaboration with other DRDO laboratories and Indian industry partners by the Research Centre Imarat in Hyderabad (Telangana), is to counter low-altitude aerial threats at short ranges. The system is based on the SA-18 Grouse MANPADS (Man-Portable Air Defense System) developed in Russia.
The air defense system boasts several features, such as a Dual-band IIR Seeker, a miniaturized Reaction Control System, and integrated avionics. Additionally, the system's propulsion is provided by a dual thrust solid motor.
3. Atal Innovation Mission launches ATL Sarthi to Strengthen Ecosystem of Atal Tinkering Labs
The National Institution for Transforming India (NITI) Aayog's Atal Innovation Mission (AIM), launched a new initiative known as ATL Sarthi. This comprehensive self-monitoring framework has been introduced to bolster the rapidly expanding ecosystem of Atal Tinkering Labs (ATL) under the Government of India (GoI).
ATL Sarthi :
(i) As the name suggests, Sarthi is a charioteer and ATL Sarthi will enable the ATLs to be efficient and effective.
(ii) It has 4 pillars: Cluster-based Approach, Performance Enablement (PE) Matrix Framework, MyATL Dashboard, and ATL Compliance Guidelines
Cluster-based Approach - To enable better monitoring the on-ground and sustainable way of assessing ATLs.
Performance Enablement (PE) Matrix Framework - To enable self-evaluation of the ATL.
MyATL Dashboard - It enables ATLs to regularly report their tinkering activities online.
ATL Compliance Guidelines - AIM has set up a detailed standard operating procedure (SOP) to be followed by AIM to guide schools to comply with both financial and non-financial guidelines.
4. 13th Edition of Indo-Singapore Bilateral Armour Exercise BoldKurukshetra 2023 held in Jodhpur
From March 6 to 13, 2023, the 13th edition of the bilateral armour training exercise known as 'Exercise Bold Kurukshetra 2023' was conducted between the armies of India and Singapore at the Jodhpur Military Station, Rajasthan, India.
The Indian Army hosted the exercise, and it saw participation from soldiers belonging to the 42nd Battalion, Singapore Armoured Regiment, and an Armoured Brigade of the Indian Army.
This year's exercise was unique as it marked the first time that both armies participated in a command post exercise. The exercise involved planning elements at both Battalion and Brigade levels, in addition to computer wargaming.
5. Sports News :
WPL :
RCBW vs UPW [ RCB Women won by 5 wickets ]
UPW - 135/10 , RCBW - 136/5
Top scores :
UPW : Grace Harris - 46 (32) , Deepti Sharma - 22 (19)
RCBW : Kanika Ahuja - 46 (30) , Richa Ghosh - 31 (32)
Top wicket takers :
RCBW : Ellyse Perry - 3/16 (4) , Sophie Devine - 2/23 (4)
UPW : Deepti Sharma - 2/26 (4) , Sophie Ecclestone - 1/20 (4)
Player of the match : Kanika Ahuja
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