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Reliance Industries: Reliance Industries and Walt Disney signed a non-binding term sheet to merge their Indian media operations. Under the merger, Reliance would own 51 percent through a combination of shares and cash, with Disney holding the remaining 49 percent, giving more control to Mukesh Ambani's Reliance group. Reliance and Disney did not immediately respond to Reuters requests for comment. Adani Power: The Committee of Creditors (COC) of Coastal Energen (CEPL), a company undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, has approved the resolution plan submitted by a consortium of which Adani Power is a part. The consortium of Adani Power has received a letter of intent from the resolution professional. Infosys: The global company has elected to terminate the Memorandum of Understanding with Infosys, and the parties will not be pursuing the Master Agreement. Infosys was supposed to provide enhanced digital experiences, along with modernisation and business operations services, leveraging Infosys platforms and AI solutions. The total client target spend over 15 years was estimated at $1.5 billion. Tata Steel: The Tata Group firm said the shareholders will be meeting on January 25, 2024, to consider the scheme of amalgamation amongst Tata Steel and Indian Steel & Wire Products. Biocon: Subsidiary Biocon Biologics signed a distribution agreement with Sandoz, granting the company exclusive rights to promote, sell, and distribute Adalimumab BS for subcutaneous injection in Japan. The subsidiary has acquired the global biosimilars portfolio of Viatris, including Adalimumab. Fujifilm Kyowa Kirin Biologics Co. Ltd., the developer of the drug, has concluded an exclusive global marketing licence agreement with a Biocon Biologics Ltd. affiliate. Adalimumab BS, a biosimilar of Humira, is indicated for immune-related diseases such as rheumatoid arthritis, psoriasis vulgaris, ankylosing spondylitis, Crohn's disease, and ulcerative colitis. Vedanta: Subsidiary Bharat Aluminium Company (BALCO) has received an order from the Office of the Joint Commissioner, Bilaspur, confirming the demand for GST worth Rs 84.7 crore for FY2017-18 on account of various interpretational issues under the relevant provisions of the Central Goods and Services Tax Act.

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