MAM
HTMT wins appeal against Sebi trading ban order
MUMBAI: Hinduja TMT has won its appeal made before the Securities Appellate Tribunal (SAT) against a trading ban order passed by market regulator Securities and Exchange Board of India (Sebi) in January 2003.
SAT, by its order dated 23 August, lifted the ban imposed on HTMT for the remaining period.
Sebi had passed an order on 11 January 2003 directing HTMT not to deal in securities as an intermediary in any manner for two years (upto 10 January, 2005) following an investigation it conducted into a public issue that group subsidiary Hinduja Finance Corporation Ltd had managed in 1995.
Hinduja Finance was lead manager of a public-cum-rights issue of Subhash Projects & Marketing Ltd in 1995, following which an investigation had been called.
Hinduja TMT successfully argued before SAT that Hinduja Finance had been discontinued by the company for more than five years before the passing of the Sebi order. Since the end of 1997 the company has not been acting as a merchant banker or as a financial intermediary in the capital or the securities market. The company did not renew its license to carry out merchants banking activities after it expired in 1997 October, it had argued in its defence.
Brands
Raj Cooling Systems launches Agreyas appliances brand
Emraan Hashmi named brand ambassador for consumer appliance push.
MUMBAI: A company known for cooling solutions is now heating up its ambitions in the home appliances market. Raj Cooling Systems Pvt. Ltd. has launched a new consumer appliances brand, Agreyas, marking its entry into India’s rapidly expanding home appliances sector valued at more than Rs 1.5 lakh crore. The move represents a strategic diversification for the company, which has traditionally focused on cooling solutions for residential, commercial and industrial applications. Through Agreyas, the firm plans to tap into growing consumer demand for energy efficient and technology driven household appliances.
To build brand visibility, Agreyas has appointed Emraan Hashmi as its brand ambassador. The campaign has been developed under the banner of Zoommantra Productions, with actor and filmmaker Rohit Roy contributing to the creative direction.
The brand’s initial portfolio will include mid premium air conditioners, washing machines, geysers and other white goods designed to cater to modern Indian households seeking efficient and reliable appliances.
Raj Cooling Systems, founder and chairman Kalpesh Ramoliya said the launch aligns with the company’s broader expansion plans.
“The launch of Agreyas is in line with our vision to build a strong presence in India’s consumer electronics and home appliances market. The brand has been developed as a standalone identity to meet the evolving needs of Indian consumers,” he said.
Hashmi said the collaboration comes at a time when Indian buyers are increasingly looking for innovative and functional home solutions.
“I’m looking forward to working with Agreyas at a time when consumers are seeking more innovative and efficient home products. The brand reflects changing consumer behaviour around functionality, innovation and ease of use,” he said.
Raj Cooling Systems plans to invest around 10 million dollars in developing the brand, with an additional 5 million dollars earmarked over the next three to five years for product development and distribution expansion.
Agreyas will follow a multi channel distribution approach, selling through online platforms, retail outlets and dealer networks aimed at both urban and semi urban markets across India.
With the launch, the company is positioning Agreyas as a standalone consumer facing brand while continuing to leverage its existing manufacturing, engineering and research capabilities built through its core cooling solutions business.
