Latest news with #Mauritius-based
Time of India
2 days ago
- Business
- Time of India
BDO appointed receiver for Evergreen Power's Mauritius arm
NEW DELHI: Private equity (PE)-backed Evergreen Power has appointed BDO as a receiver, said people in the know. Evergreen Power's Indian operations have been recipients of capital through a Mauritius-based entity where the receiver has been appointed, they said. In Mauritius, receivers are typically appointed when creditors make claims on a company. "As a policy, Evergreen Power does not comment on market speculation or matters involving internal corporate structure or investor arrangements," the company said in a statement in response to ET's queries on the matter. Evergreen Power is executing tenders worth 1 gigawatt for state-backed entities such as Solar Energy Corporation of India (SECI), NTPC and SJVN . Indian banks have provided bank guarantees for projects that Evergreen Power has committed to execute, as per those in the know. "We remain committed to the development and execution of clean energy projects in India and continue to work closely with our partners and stakeholders," the company said. Evergreen Power is backed by UK-based Devonport Capital . The company has won tenders to set up electricity generation through solar, wind and hybrid methods. It has competed with well-known names like Adani Green , Sembcorp, Jindal Renewables and ReNew Power, among others, for these tenders. Evergreen Power was set up in 2012 as per its website, which states it has headquarters in Chicago and Mumbai. It developed its first renewable energy project, a 23 MW solar photovoltaic plant located in Telangana, in a joint venture with Hilliard Energy (US) in April 2016.
Economic Times
2 days ago
- Business
- Economic Times
BDO appointed receiver for Evergreen Power's Mauritius arm
Synopsis In Mauritius, receivers are typically appointed when creditors make claims on a company. "As a policy, Evergreen Power does not comment on market speculation or matters involving internal corporate structure or investor arrangements," the company said in a statement in response to ET's queries on the matter. ET Bureau NEW DELHI: Private equity (PE)-backed Evergreen Power has appointed BDO as a receiver, said people in the Power's Indian operations have been recipients of capital through a Mauritius-based entity where the receiver has been appointed, they Mauritius, receivers are typically appointed when creditors make claims on a company. "As a policy, Evergreen Power does not comment on market speculation or matters involving internal corporate structure or investor arrangements," the company said in a statement in response to ET's queries on the matter. Evergreen Power is executing tenders worth 1 gigawatt for state-backed entities such as Solar Energy Corporation of India (SECI), NTPC and SJVN. Indian banks have provided bank guarantees for projects that Evergreen Power has committed to execute, as per those in the know. "We remain committed to the development and execution of clean energy projects in India and continue to work closely with our partners and stakeholders," the company said. Evergreen Power is backed by UK-based Devonport Capital. The company has won tenders to set up electricity generation through solar, wind and hybrid methods. It has competed with well-known names like Adani Green, Sembcorp, Jindal Renewables and ReNew Power, among others, for these tenders. Evergreen Power was set up in 2012 as per its website, which states it has headquarters in Chicago and Mumbai. It developed its first renewable energy project, a 23 MW solar photovoltaic plant located in Telangana, in a joint venture with Hilliard Energy (US) in April 2016.
Time of India
2 days ago
- Business
- Time of India
BDO appointed receiver for Evergreen Power's Mauritius arm
NEW DELHI: Private equity (PE)-backed Evergreen Power has appointed BDO as a receiver, said people in the know. Evergreen Power's Indian operations have been recipients of capital through a Mauritius-based entity where the receiver has been appointed, they said. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program In Mauritius, receivers are typically appointed when creditors make claims on a company. "As a policy, Evergreen Power does not comment on market speculation or matters involving internal corporate structure or investor arrangements," the company said in a statement in response to ET's queries on the matter. Evergreen Power is executing tenders worth 1 gigawatt for state-backed entities such as Solar Energy Corporation of India (SECI), NTPC and SJVN . Indian banks have provided bank guarantees for projects that Evergreen Power has committed to execute, as per those in the know. "We remain committed to the development and execution of clean energy projects in India and continue to work closely with our partners and stakeholders," the company said. Live Events Evergreen Power is backed by UK-based Devonport Capital . The company has won tenders to set up electricity generation through solar, wind and hybrid methods. It has competed with well-known names like Adani Green , Sembcorp, Jindal Renewables and ReNew Power, among others, for these tenders. Evergreen Power was set up in 2012 as per its website, which states it has headquarters in Chicago and Mumbai. It developed its first renewable energy project, a 23 MW solar photovoltaic plant located in Telangana, in a joint venture with Hilliard Energy (US) in April 2016.
Hindustan Times
28-07-2025
- Hindustan Times
UP STF seeks global inputs on fake diplomat
LUCKNOW The UP Special Task Force (STF) has sought global inputs on activities of Harsha Vardhan Jain, who operated the fake embassy of the unrecognised micronation Westarctica in Ghaziabad, senior STF officials confirmed here on Sunday. The STF is seeking information about Harsha Vardhan Jain's activities from over 20 countries. (For Representation) They said a Blue Corner Notice has been issued against Jain, marking the first time such a notice has been used in any case of Uttar Pradesh. Issued by Interpol, the Blue Corner Notice is a tool used to gather additional information about a person of interest in a criminal investigation, the STF officials said. It's not a request for arrest, but rather an alert to member countries to collect details about a person's identity, location or activities abroad related to a crime. The STF is seeking information about Jain's activities from over 20 countries, focusing on his international travel history, business ventures abroad and financial transactions from his foreign bank accounts, an STF official said. He said the STF has applied for Jain's five-day police custody remand (PCR) in a Ghaziabad court to further interrogate him about his activities and connections. He said the local court will decide on his PCR on Monday. Interrogation during Jain's police custody remand is expected to shed more light on the extent of his operations and potential accomplices, he added. He said the travel history could include details of his international travels and stays, business ventures, information about companies registered or operated by him abroad and insights into his bank accounts, transactions, and potential money laundering activities. The STF has already uncovered substantial evidence, including 11 bank accounts linked to Jain in Dubai, Mauritius, UK, and India with suspected hawala transactions, the official said. He said it included six bank accounts in Dubai, three in the UK and one bank account each in Mauritius and India. 'Besides, over a dozen shell companies registered by Jain (were) potentially used for illicit activities. The investigations so far revealed that Jain, along with arms dealer friend Adnan Khwaja and Ahsan Ali Sayed, a UK-based businessman, allegedly registered multiple companies in different countries, including UK-based companies–State Trading Corporation Ltd and East India Company UK Ltd, UAE-based company- Island General Trading Co LLC, Mauritius-based company- Indira Overseas Ltd and Cameroon-based company-Cameron Ispat Sarl,' he said. The STF official said 12 high-end watches, including Rolex and Omega, as well as forged documents, diplomatic passports, and counterfeit stamps bearing the seals of various countries and companies were also recovered during his arrest. The STF's Noida unit arrested Jain who was operating a fake embassy of the unrecognised micronation Westarctica from a rented house in Ghaziabad's Kavinagar on Tuesday (July 22). He was booked under various sections of the Bharatiya Nyaya Sanhita (BNS). The STF is working with local police to obtain his remand for further investigation. The accused allegedly posed as the consul/ambassador of unrecognised and fictitious countries like Westarctica, Saborga, Poulvia, and Lodonia. The accused used diplomatic number plates on his vehicles and morphed photos with prominent figures like the Prime Minister and President to impress people. His main activities included brokering deals for companies and individuals to work abroad and running a hawala racket through shell companies.
&w=3840&q=100)
Business Standard
17-07-2025
- Business
- Business Standard
India's outward FDI surges to $5.03 bn in June, equity jumps threefold
India's outward foreign direct investment (FDI) commitments grew substantially on a year-on-year basis to $5.03 billion in June 2025, up from $2.9 billion in the same month last year. Sequentially, they rose from $2.7 billion in May 2025, according to data from the Reserve Bank of India (RBI). Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans and guarantees. RBI data showed equity commitments rose more than threefold to $2.04 billion in June 2025, compared to $670.7 million in June 2024, and doubled from $987.1 million in May 2025. Loan commitments increased marginally to $585.55 million in June 2025, up from $454.3 million in June 2024. However, they were lower than the $1.02 billion committed in May 2025. RBI's entity-specific data showed Aster DM Healthcare committed $907.6 million as guarantees for Mauritius-based Affinity Holdings. State-owned Indian Oil Corporation committed guarantees worth $294.99 million for its Netherlands-based wholly owned subsidiary (WOS), Indoil Global BV. Integris Health Private Ltd committed equity worth $371.5 million for its WOS, Everlife Holdings Ltd. The National Stock Exchange (NSE) committed $329.2 million for NSE IFSC Ltd, its GIFT City-based wholly owned subsidiary, with a guarantee component of $300 million and an equity component of $29.3 million. Meanwhile, outbound FDI touched $6.64 billion in the April–June 2025 period, with an equity component of $4.3 billion and a loan component of $2.34 billion. Singapore emerged as the top destination for Indian FDI commitments, worth $2.21 billion, followed by Mauritius and the United States of America, with $1 billion each. FDI commitments for the United Arab Emirates stood at $450.5 million and Germany at $345.65 million in April–June 2025, RBI data showed.
