Awards & Recognitions, Appointments & Resigns, Acquisitions & Mergers, October 25th, 2017 Current Affairs Notes | EduRev

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Current Affairs : Awards & Recognitions, Appointments & Resigns, Acquisitions & Mergers, October 25th, 2017 Current Affairs Notes | EduRev

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Awards & Recognitions

L&T Technology Services conferred with CII Industrial Innovation 2017
On October 24th 2017, L&T Technology Services (LTTS) has been honored with the CII Industrial Innovation Award, 2017 in New Delhi.

i. This award is referred as one of the most innovative Indian companies in the services category at the CII Industrial Innovation Awards ceremony in New Delhi.

ii. The Confederation of Indian Industry praised LTTS’ efforts to create a collaborative ecosystem comprising of global technology firms and internationally reputed institutes such as the Indian Institute of Science, IITs, Germany’s Fraunhofer and US-based Purdue University to make advances in R&D, creating best in class engineering solutions that can benefit the nation.

iii. CII also praised LTTS’ breakthrough research being conducted across 30 laboratories that seek to address the future needs of its global customers. Its innovation culture has led to the creation of 223 customer owned patents and 65 filed exclusively by LTTS engineers.

About L&T Technology Services (LTTS)
L&T Technology Services (LTTS) is a multi-national publicly-traded subsidiary of the Indian-based conglomerate Larsen & Toubro (L&T).

♦ Founded              –              2009
♦ Chairman            –              A. M. Naik
♦  CEO & MD           –              Keshab Panda

Appointments & Resigns

Nepal government accepts resignation of its Ambassador to India
On 23rd October 2017, the Nepal government accepted the resignation of Deep Kumar Upadhyay, Nepal’s ambassador to India.

Resignation of Nepal’s ambassador to India:

i. Deep Kumar Upadhyay, Nepal’s ambassador to India has resigned from his position to contest the upcoming parliamentary elections. He handed over his resignation to Deputy Prime Minister and Minister for Foreign Affairs Krishna Bahadur Mahara on 6th October 2017.

ii. A cabinet meeting headed by Prime Minister Sher Bahadur Deuba on 23rd October 2017 accepted the resignation of Upadhyay.

iii. Upadhyay has filed his nomination for the upcoming parliamentary election from Kapilastu district in western Nepal as the ruling Nepali Congress candidate.

About Nepal:

♦ Capital – Kathmandu
♦ Currency – Nepalese rupee
♦ Prime Minister – Sher Bahadur Deuba
♦ President – Bidhya Devi Bhandari

Alok Kumar Pateria appointed as ADG of CISF
Alok Kumar Pateria has been appointed as the Additional Director General (ADG) of Central Industrial Security Force (CISF).

Alok Kumar Pateria – ADG of CISF:

i. The Appointments Committee of the Cabinet has approved the appointment of Alok Kumar Pateria, IPS (Indian Police Service) Officer (MP:86) as Additional Director General (ADG) of Central Industrial Security Force (CISF).

ii. His appointment has been made on deputation basis for a period up to 31.05.2020. This is the date of his superannuation from the date of assumption of charge of the post or until further orders, whichever is earlier.

About Central Industrial Security Force (CISF):

♦ Motto – Protection and Security
♦ Headquarters – New Delhi
♦ Director General – O.P Singh

Acquisitions & Mergers

Cisco buys US software company BroadSoft for $1.9 billion
American technology conglomerate, Cisco Systems has finalised a deal to acquire American communication software and service provider BroadSoft for $1.9 billion. 

More Information about CISCO’s acquisition of BroadSoft:

i. The acquisition deal will be completed during the first quarter of 2018. CISCO will pay $55 per share in cash.

ii. This deal will enable CISCO to migrate away from its stagnating switches and routers business and will help to foray in selling unified communications software to big telecommunications firms.

iii. Post the acquisition, employees of BroadSoft will be absorbed into Cisco’s Unified Communications Technology Group.

Quick Facts about Cisco Systems:

♦ Founded in – 1984
♦ Headquarters – California, United States
♦ Current CEO – Chuck Robbins

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