Business

Vedanta Moves Supreme Court Against Adani’s ₹14,535 Crore JAL Acquisition, Claims Higher Bid Rejected New Delhi, March 31: Vedanta Ltd has approached the Supreme Court challenging the lenders’ decision to approve Adani Group’s resolution plan for Jaiprakash Associates Ltd (JAL), stating that its own revised offer was superior but was rejected.Vedanta Claims Higher Value Bid Was Overlooked In its petition, Vedanta argued that its revised proposal was significantly higher than Adani Group’s offer. The company stated that its bid was about ₹3,400 crore higher in gross value and nearly ₹500 crore more in net present value.Vedanta highlighted that in its final resolution plan submitted on October 14, 2025, it had offered ₹3,770 crore...

New Delhi, March 31 – In a major bureaucratic reshuffle, the government has appointed Vir Vikram Yadav as the new Director General of the Directorate General of Civil Aviation (DGCA), replacing Faiz Ahmed Kidwai.Yadav, who is currently serving as Additional Secretary in the Ministry of Environment, Forest and Climate Change, will now head India’s aviation regulator at a time when the sector is expanding rapidly.With increasing air traffic, growing airline fleets, and increased focus on safety, his role is expected to be crucial in ensuring stronger regulatory oversight.Meanwhile, Kidwai has been moved to the Department of Personnel and Training (DoPT) as Additional Secretary.He had taken charge as DGCA chief in January 2025 and...

New Delhi, March 31 Union Minister Jitendra Singh met a delegation of postal employees and representatives from their unions on Tuesday to discuss various issues, including cadre restructuring and pension-related matters.The minister conveyed that the issues raised would be taken up with the concerned ministries and departments for appropriate consideration, in accordance with established policy provisions and applicable rules."Several representations were made regarding pension and family pension-related issues. In this context, Dr Jitendra Singh suggested making effective use of existing institutional mechanisms, including Pension Adalat, CPENGRAM, and pension grievance forums, for expedited resolution of long-pending cases," an...

New Delhi, March 31: The city of Mumbai recorded 15,516 property registrations in March, generating over ₹1,492 crore in stamp duty revenue for the state exchequer, a report said on Tuesday.The Knight Frank report cited data from the Maharashtra Department of Registrations and Stamps, stating that the March figure is the highest monthly registration volume for the reported month in the past 14 years, surpassing the previous high of 15,501 in March 2025.Registrations remained broadly stable year-on-year, rising marginally from elevated levels of 15,501 a year earlier, while stamp duty collections eased by 6 per cent on a year-on-year basis, reflecting a shift in transaction mix.On a sequential basis, activity strengthened notably...

New Delhi, March 31 India added more than 3.1 lakh new piped natural gas (PNG) connections in March, and another 2.7 lakh connections were issued as the government accelerated the expansion of cleaner fuel networks amid supply disruptions following the closure of the Strait of Hormuz.With the war in West Asia disrupting LPG supplies, the government has been promoting greater adoption of piped natural gas – which is considered more convenient than LPG cylinders for everyday use, as gas is delivered through a pipeline directly to homes without the hassle of booking refills.The war has effectively closed the Strait of Hormuz – the shipping lane through which India gets most of its LPG. While LPG supplies have been disrupted, half of...

Johannesburg, March 31 South African President Cyril Ramaphosa announced an ambitious initiative to attract investment of around USD 60 million over the next two years at the 6th edition of the annual South Africa Investment Conference in Johannesburg on Tuesday."Investment conferences such as this provide an opportunity for us to showcase the attractiveness of investment opportunities in our country to domestic and international investors. By connecting investors with local opportunities, we are able to attract foreign direct investment (FDI)," Ramaphosa told more than 1,000 delegates from 50 countries as he opened the conference.Since launching the investment drive in 2018, Ramaphosa has built his economic narrative around a...

New Delhi, March 31 Fintech firm Bachatt has raised USD 12 million, approximately Rs 113 crore, in a funding round led by venture capital firm Accel, the company said on Tuesday.The round also saw participation from existing investors, Lightspeed and InfoEdge Ventures.“Bachatt, an AI-led savings and wealth platform for the merchant and self-employed segment, has raised USD 12 million in its series A funding led by Accel,” the company said in a statement.The company plans to use the fresh funds to scale up its savings solution and build new AI-led wealth and credit solutions for its growing user base, which ranges from small shopkeepers to large merchants such as jewelry shop owners and dealerships, etc.“We want to develop 5-6...

New Delhi, March 31 – India’s foreign exchange reserves of over $700 billion are large enough to deter speculative activity and allow the Reserve Bank of India to intervene and stabilize the rupee, a report said on Tuesday.The report from SBI Research said that current reserve levels are equivalent to more than 10 months of imports, and that short-term debt is below 20 per cent of reserves, providing room and time to intervene in the market to support the rupee if desired.However, the research firm cautioned that volatile capital flows and high oil prices pose risks to the near-term outlook and urged several policy measures, including a special dollar window for oil marketing companies to meet the daily demand of $250–300 million...

New Delhi, March 31: India's bioeconomy is approaching the $200 billion mark, which is a significant milestone in its development, according to a report released on Tuesday. This is due to strong policy support and a growing pipeline of innovation.The report by Endiya Partners said that the nation's bioeconomy has expanded sharply from around $10 billion in 2014 to over $195 billion by 2026, now contributing nearly 5 per cent to the GDP.India, long recognized as the "Pharmacy of the World" for supplying nearly 20 per cent of global generics and over 60 per cent of vaccines, is now transitioning towards a biopharma ecosystem driven by innovation, focused on novel therapeutics and deep-tech platforms.The report highlighted that...

Singapore, March 31 Joint ventures between businesses from India and Singapore are poised to benefit from potential opportunities in redevelopment in West Asia once the region stabilizes, a senior industry leader said on Tuesday.India and Singapore have built a bilateral partnership over the past two decades that strategically complements them in a shifting global economy, said Neil Parekh, Chairman of the Singapore Indian Chamber of Commerce and Industry (SICCI)."The opportunity lies in moving from trade and investment to co-creation, capability building, and global market leadership," he said, adding, "We expect to see significant opportunities for Singapore–India joint ventures."He pointed out that Singapore and India are not...

Mumbai, March 31 Piramal Finance's total assets under management have crossed Rs 1 lakh crore, and the non-bank lender is keen to acquire a microfinance institution to fuel the next stage of growth, a top official has said.The company is aiming to increase its AUM to Rs 1.5 lakh crore by the end of March 2028, managing director and chief executive Jairam Sridharan said.Currently, about 55 per cent of the AUM comes from home loans and property loans, he said, adding that this share will decrease by about 5 percentage points as the company diversifies lending into newer products.Microlending and gold loans have been identified as the next areas of growth, he said, adding that the company has already started offering gold loans as...

New Delhi, March 31 – Analysts say that the outlook for Indian markets in the next fiscal year remains optimistic, provided geopolitical tensions subside and crude oil prices stabilize, even though domestic equities ended FY26 on a bearish note, with the Sensex falling by 7%.In 2025-26, the BSE benchmark fell by 5,467.37 points, or 7%, and the NSE Nifty dropped by 1,187.95 points, or 5%.According to an expert, this year was characterized by global macroeconomic uncertainty, persistent geopolitical tensions, high crude prices, and aggressive outflows from Foreign Institutional Investors (FIIs), which collectively limited upside momentum.Since the conflict in West Asia began, markets have been under significant pressure, creating...

Brookfield India REIT Appoints Shashank Jain as CEO and Managing Director New Delhi, March 31: Brookfield India Real Estate Trust has announced the appointment of Shashank Jain as the Chief Executive Officer and Managing Director of its manager, Brookprop Management Services Pvt Ltd.Alok Aggarwal will continue in his role as CEO and MD until June 30, after which Shashank Jain will assume charge from July 1. The appointment was approved by the board in a regulatory filing on Tuesday, with Jain also being appointed as an additional director under the category of Managing Director.Jain joins Brookfield India REIT from PwC India, where he served as the Co-Head of the deals practice and previously led the transaction services practice...

New Delhi, March 31 The Ministry of Defence signed a ₹1,950 crore contract with state-run Bharat Electronics Limited on Tuesday for the procurement of two mountain radars and related infrastructure for the Indian Air Force.The installation and commissioning of these radars will enhance the country's air defense and strengthen national security, the ministry said, adding that the procurement will also reduce reliance on foreign equipment."The Ministry of Defence has signed a major capital acquisition contract with Bharat Electronics Limited (BEL) for the procurement of two mountain radars, including associated equipment and required infrastructure for the Indian Air Force, at a cost of approximately ₹1,950 crore," an official...

New Delhi, March 31 The state-owned Central Bank of India announced on Tuesday that it has received a demand notice of ₹296.08 crore from the Income Tax Department for a shortfall in tax payments for the fiscal year 2025."The bank has received an assessment order under Section 143(3) read with Section 144B of the Income Tax Act, 1961, dated March 28, 2026, from the Assessment Unit of the Income Tax Department, along with a demand advising the bank to pay an amount of ₹296.08 crore as tax liability for the Assessment Year 2024-25," Central Bank of India said in a regulatory filing.The bank is currently challenging these orders in the appropriate forum, arguing against any disallowances or additions made in the order within the...

New Delhi, March 31: Road users across India will no longer be able to pay toll fees in cash from April 1 as the National Highways Authority of India (NHAI) switches to a fully digital payment system.As a major step towards modernizing highway travel, NHAI will implement a complete ban on cash payments at toll plazas across the country.Starting April 1, commuters will only be able to pay toll charges through digital modes such as FASTag or UPI.The move aims to improve efficiency and bring more transparency to toll collection on national highways and expressways.Officials believe that a fully digital system will help vehicles pass through toll plazas faster, reducing long queues and saving travel time.With the removal of cash...

New Delhi, March 31 The government has notified the Finance Act 2026, paving the way for changes in tax provisions.This Act implements the financial proposals of the central government for 2026-27, a gazette notification dated March 30 issued by the Ministry of Law and Justice said."The following Act of Parliament received the assent of the President on March 30, 2026, and is hereby published for general information," it said.Last week, Parliament approved the Finance Bill 2026 with the Rajya Sabha returning it to the Lok Sabha with a voice vote, completing the budgetary exercise for the next fiscal year starting April 1.The Lok Sabha had passed the bill on March 25, along with 32 amendments.The Rajya Sabha returned the bill...

New Delhi, March 31 – With the fiscal year 2026 set to end on Tuesday, investors are preparing for several reforms, including revised Securities Transaction Tax (STT) rules that will come into effect from April 1.Many brokers, traders, and demat account holders are concerned about the sharp increase in STT on futures and options (F&O) trades, following revisions announced by Finance Minister Nirmala Sitharaman in the Union Budget for FY26-27. She had also proposed a significant increase in charges on options.The STT on futures has been raised from 0.02% to 0.05%.Similarly, the STT on options premium and exercise has been increased from the current rates of 0.10% and 0.125%, respectively, to 0.15%.According to experts, the...

New Delhi, March 31 The Income Tax department has notified all income tax return forms for the assessment year (AY) 2026-27.While ITR forms 1-4, filed by small and medium taxpayers, were notified on March 30, ITR forms 2, 3, 5, 6, and 7, as well as ITR-U (for filing updated returns), were notified on Tuesday.With the ITR (income tax return) notification, individuals, businesses, and other entities can start filing I-T returns for the income earned in the financial year 2025-26.The last date for filing ITR for individuals and those who do not have to get their accounts audited is July 31.ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers.Sahaj can be filed by a...

New Delhi, March 31: In a significant boost to India's push for self-reliance in defense manufacturing, the Ministry of Defence signed a major capital acquisition contract with Bharat Electronics Limited on Tuesday for the procurement of two advanced Mountain Radars for the Indian Air Force.The deal, valued at approximately ₹1,950 crore, was formalized in the national capital in the presence of senior officials from both sides."To strengthen India's indigenous defense capabilities under 'Aatmanirbhar Bharat' and 'Make-in-India', the Ministry of Defence (MoD) has inked a major capital acquisition contract with Bharat Electronics Limited (BEL) for the procurement of two Mountain Radars, including associated equipment and required...