Business

Bengaluru, January 12, 2026: Hinduja Global Solutions Limited (HGS) has announced the launch of AMLens, a next-generation, AI-powered platform designed to accelerate and simplify anti-money laundering investigations for financial institutions. The solution is aimed at addressing persistent industry challenges such as alert fatigue, fragmented data, and time-intensive manual reviews. Transforming AML Operations with Explainable AI AMLens combines machine learning and natural language processing to support AML teams across the full investigation lifecycle, from detection and triage to contextualization and narrative generation. Built on explainable AI principles and a human-in-the-loop framework, the platform enables transparent...

Mumbai, January 12, 2026: Kotak Mahindra Bank Limited has announced the appointment of Anup Kumar Saha as an Additional Director and Whole-time Director Designate, marking a key leadership development at the private sector lender.The Board approved Mr. Saha’s induction at its meeting held on Monday. He assumes the role of Whole-time Director Designate and Senior Management Personnel with immediate effect, and will transition into the position of Whole-time Director (Executive Director) for a three-year term upon completion of the necessary formalities. Following this transition, he will also be classified as a Key Managerial Personnel of the bank.Leadership Profile and Experience Mr. Saha brings more than three decades of...

Bengaluru, January 12, 2026: Biocon Limited on Monday announced a key regulatory milestone in its global formulations business, as its wholly owned subsidiary Biocon Pharma Limited received approval from the U.S. Food and Drug Administration for Everolimus Tablets for Oral Suspension across multiple strengths.The approval covers Everolimus Tablets for Oral Suspension in 2 mg, 3 mg and 5 mg dosages, marking a significant addition to Biocon’s growing portfolio of complex oral solid and specialty formulations for regulated markets.Product Indication and Therapeutic Use Everolimus Tablets for Oral Suspension are indicated for the treatment of adult and pediatric patients aged one year and above diagnosed with Tuberous Sclerosis Complex...

Kolkata, January 12, 2026: Websol Energy System Limited (BSE: 517498, NSE: WEBELSOLAR) has received approval from the Government of Andhra Pradesh for setting up a greenfield 4 GW solar cell and 4 GW solar module manufacturing facility at the Multiproduct Special Economic Zone (MPSEZ), Naidupeta, in Tirupati district. The clearance marks a major step in the company’s capacity expansion strategy and strengthens its manufacturing footprint in India’s renewable energy sector.Project Overview and Investment Support The proposed facility will be developed at MPSEZ Naidupeta and follows a Memorandum of Understanding signed with the Andhra Pradesh Economic Development Board in November 2025. As part of the approval, the state government has...

Mumbai, January 11, 2026 – Indian Oil Corporation Limited announced changes across its senior management team, with the induction and role realignment of several executives at the corporate office, refinery headquarters, state offices, and business development units. The changes bring experienced leaders into key operational, strategic, and functional roles across the organisation. The appointments span core areas such as health, safety and environment, human resources, projects, operations, finance, corporate strategy, marketing, petrochemicals, and state-level leadership, strengthening Indian Oil’s management depth across its nationwide operations. Senior Management Appointments and ProfilesNameDesignationExperience Snapshot...

Mumbai, January 10, 2026 – Lloyds Engineering Works Limited (BSE: 539992, NSE: LLOYDSENGG) has entered into a purchase and licensing agreement with The Materials Works Limited, a Delaware-incorporated company based in the United States, to design, manufacture, and sell advanced acid-less steel pickling systems globally.The agreement enables Lloyds Engineering to commercially deploy the proprietary Eco Pickled Surface Generation 4 technology, an environmentally sustainable steel surface treatment solution developed and patented by The Materials Works over more than a decade of research and industrial application.Scope of the Agreement and Geographic Coverage Under the terms of the purchase agreement, Lloyds Engineering will have the...

Appellate Authority Upholds Monetary Penalty IndiGo has said that an appellate authority has rejected its appeal against penalties imposed on two of its senior executives, leading to the restoration of fines levied earlier. The decision relates to penalties imposed on the airline’s Director Flight Operations and Director Training.The appellate authority, through an order dated January 7, dismissed the appeal and reinstated the monetary penalty of Rs 20 lakh each on the two executives.Background to the Case The penalties were originally imposed in September last year for alleged failure to use qualified flight simulators for pilot training at certain airports classified as Category C. Such airports are considered operationally...

Banking Arrangement Comes Into Effect From January 9, 2026 The Reserve Bank of India has fixed the Ways and Means Advances (WMA) limit for the Delhi government at Rs 890 crore, effective January 9, 2026, to support the administration in managing temporary mismatches between receipts and payments.Agreement Signed for General Banking Operations Earlier this week, the central bank entered into an agreement with the Government of the National Capital Territory of Delhi (GNCTD) to undertake the city government’s general banking business. The arrangement formally came into force on Friday, January 9, 2026.Aggregate WMA Limit Revised for States and UTs Following the fixation of the WMA limit for Delhi, the aggregate WMA limit for all State...

Mumbai, January 9, 2026 – Muthoot Microfin Limited has settled a provident fund-related issue after remitting penal damages amounting to ₹40.08 lakh, bringing the matter to a close.Background of the Matter The issue arose from delays in remitting provident fund contributions, with the major portion linked to the nationwide lockdown period in April 2020. During this phase, the company’s offices and branches remained shut. To support employees amid the disruption, Muthoot Microfin extended advance salaries to its workforce.Accounting Treatment and Remittance Timeline The advances provided during the lockdown were formally accounted for as salary in February 2021. Following this accounting treatment, the company remitted the...

New Delhi, January 9, 2026: UTL Solar (BSE: 544613 | NSE: UTLSOLAR), through its group entity Fujiyama Power Systems Limited, has received a tax demand order following the conclusion of a special audit for the financial year 2021–22. The company, however, has stated that it does not anticipate any material impact on its financial position or ongoing operations and is preparing to challenge the order. Details of the Demand Order The demand order was received on December 31, 2025, after the completion of audit proceedings related to FY 2021–22. The order alleges contravention of certain provisions under indirect tax laws and directs the company to pay tax, interest, and penalty within the stipulated timeline. Break-up of Demand...

Bengaluru, January 9, 2026: Syngene International Limited (NSE: SYNGENE | BSE: 539268) has received a favourable update in a long-running tax matter related to the assessment year 2016–17, with the appellate authority partly allowing the company’s appeal and directing further verification on select claims.Background of the Matter The case relates to an assessment order issued in December 2018, under which certain additions and disallowances were made, resulting in a tax demand of ₹72.34 crore. Syngene had challenged this order in early 2019.In the latest development, the appeal has been partly allowed. The appellate authority has also instructed the assessing officer to re-examine specific claims and grant relief where found...

New Delhi, January 9, 2026: NTPC Limited and Maharashtra State Power Generation Company Limited have executed a shareholder agreement to jointly acquire Sinnar Thermal Power Limited, marking a significant capacity addition for the NTPC Group.The agreement was signed on January 9, 2026, in connection with the acquisition of Sinnar Thermal Power Limited, which owns a coal-based thermal power project with an installed capacity of 1,350 MW, comprising five units of 270 MW each, located at Sinnar in Nashik district, Maharashtra.Transaction Structure and Ownership Under the terms of the agreement, NTPC and MAHAGENCO will acquire 100 percent equity ownership of Sinnar Thermal Power Limited through a consortium arrangement. Both partners...

Mumbai, January 9, 2026 HEG Limited (BSE: 509631 | NSE: HEG) has infused Rs 400 crore into its wholly-owned subsidiary, TACC Limited, through the subscription of optionally convertible debentures as part of a previously announced funding arrangement. The company has remitted Rs 400 crore towards the subscription of 4 crore unlisted and unsecured optionally convertible debentures, each with a face value of Rs 100, marking the completion of the first tranche under the agreement between the two entities. The debentures have been issued on a fully paid-up basis, aggregating to a total consideration of Rs 400 crore. Following the remittance, TACC Limited, which is a 100 percent subsidiary of HEG, has allotted the entire 4 crore debentures to...

New Framework Eases Entry for Accredited Investors Markets regulator Securities and Exchange Board of India has simplified the process for granting accreditation to investors under the Alternative Investment Fund framework. The move is aimed at streamlining onboarding while maintaining safeguards around formal accreditation.Managers Allowed to Proceed Based on Eligibility Assessment Under the revised approach, investment managers can execute contribution agreements and complete related formalities based on their own assessment of an investor’s eligibility. This is permitted even if the investor has not yet received the formal accreditation certificate.However, the investor’s commitment will not be counted towards the scheme’s corpus...

Hyderabad, January 9, 2026: Magellanic Cloud Limited announced that its Board of Directors has approved key corporate actions, including moving ahead with a proposed merger and convening an Extraordinary General Meeting to seek shareholder approval.Merger Proposal Approved by the Board The Board approved the draft notice to convene an Extraordinary General Meeting to place before shareholders a proposed Scheme of Merger between Magellanic Cloud Limited, as the transferee entity, and IVIS International Private Limited, as the transferor entity. The merger is proposed to be undertaken through a fast-track process, subject to shareholder consent.The approval marks a key procedural milestone in the company’s consolidation plans and is...

Mumbai, January 9, 2026: Bank of Baroda announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), with changes set to take effect from January 12, 2026. The revision includes a reduction in the six-month tenor, while other maturities remain unchanged. Revised MCLR Structure The updated MCLR framework reflects a 10 basis point cut in the six-month tenor. All other tenors have been retained at their existing levels.MCLR TenorExisting Rate (%)Revised Rate (%)Overnight7.807.80One Month7.907.90Three Month8.158.15Six Month8.608.50One Year8.758.75Implications for Borrowers The reduction in the six-month MCLR is expected to marginally ease borrowing costs for customers with loans linked to this tenor...

New Delhi, January 9, 2026: NBCC (India) Limited has established a new branch office in Dubai Mainland, marking a strategic step in strengthening its international operations and expanding its presence in the Middle East market. The newly formed Dubai branch will focus on providing Project Management Services, aligning with NBCC’s core expertise in infrastructure development, real estate, and large-scale construction management. The move reflects the company’s intent to tap overseas opportunities while supporting execution and supervision of projects in the region. Details of the Dubai Branch OfficeParticularsInformationName of BranchNBCC (India) Limited – Dubai BranchLocationIris Bay, Business BayPlot and Land DetailsPlot...

New Delhi, January 9, 2026: E2E Networks Limited announced the successful procurement and deployment of advanced NVIDIA B200 GPU clusters at its Chennai data centre, marking a major expansion of its artificial intelligence focused cloud infrastructure in India.The deployment comprises 1,024 NVIDIA B200 GPUs, delivering approximately 184 TB of aggregate GPU memory along with significantly higher memory bandwidth over previous generation accelerators. The infrastructure is purpose-built to support large-scale AI model training and fine-tuning, including next-generation language models, as well as high-complexity enterprise and research workloads.AI Compute Capacity Expansion in India The newly commissioned GPU clusters are designed to...

Surat, January 9, 2026: Desco Infratech Limited (BSE: 544387) has signed a memorandum of understanding to acquire a controlling 75 percent equity stake in Shri Green Agro Energies Private Limited, marking its formal entry into the agro-energy and compressed biogas segment. The proposed transaction will be executed through subscription to fully paid-up equity shares of Shri Green Agro Energies, with Desco Infratech acting as the lead partner for the development, construction, operation, and maintenance of the project. Upon completion, Shri Green Agro Energies will become a subsidiary of Desco Infratech. Transaction Structure and Consideration The acquisition will be completed through a share subscription mechanism, under which Desco...

New Delhi, January 8, 2026: Elitecon International Limited (BSE: 539533) has announced a major strategic initiative aimed at accelerating long-term growth and enhancing operational scale. The company has appointed Deloitte Touche Tohmatsu India LLP as its strategic advisor and transaction program manager as it evaluates a comprehensive merger of select group entities. The move marks a decisive step by Elitecon to strengthen its corporate structure, unlock synergies across businesses, and position itself for sustainable value creation. Deloitte will assist the company in evaluating, structuring, and implementing the proposed merger, along with managing associated compliances and execution planning. Proposed Merger Structure Elitecon’s...