Markets

Asian Paints Completes Amalgamation of Subsidiary Asian Paints (Polymers) Asian Paints Limited announced that the Scheme of Amalgamation involving its wholly owned subsidiary, Asian Paints (Polymers) Private Limited, has become effective as of March 31, 2026.The scheme was previously sanctioned by the National Company Law Tribunal, Mumbai Bench. The certified true copy of the order sanctioning the scheme was filed with the Registrar of Companies, Mumbai, Maharashtra, also on March 31, 2026.Upon filing of the order, Asian Paints (Polymers) Private Limited will be dissolved without winding up.Source:

Sammaan Capital Becomes an IHC Group Company, Securing USD 1 Billion Investment Mumbai, March 31, 2026 - Sammaan Capital today announced that International Holding Company PJSC (IHC), through its affiliate Avenir Investment RSC LTD ('Avenir'), will become the Promoter of Sammaan Capital Ltd. ('Company'), acquiring a 41.5% stake via a preferential allotment of equity shares and warrants. IHC, one of the world's largest investment companies and the most valuable listed holding company in the Middle East, will classify the investment as part of its newly established global financial services platform, Judan Financial.Sammaan Capital has received an initial tranche of INR 5,652 crores (USD ~600 million) towards the allotment of equity...

Mangalore Refinery and Petrochemicals Limited Receives Order-in-Original from GST Department Mangalore Refinery and Petrochemicals Limited (MRPL) announced that it received an Order-in-Original from the Office of the Commissioner of Central Excise & Central Tax, Mangaluru, on March 30, 2026.The GST Department issued a Show Cause Notice (SCN) regarding various issues and has passed an order for demand on some issues related to the availment of Goods and Services Tax (GST) input tax credit (ITC) for the period FY 2019-20 to FY 2023-24. The order pertains to a basic amount of Rs. 10,96,99,437 and a penalty of Rs. 12,79,10,256, along with applicable interest.MRPL stated that the company views the Order-in-Original as unjustified and...

Bhageria Industries Limited Receives GST Demand Order Bhageria Industries Limited announced that it received a Goods and Services Tax (GST) demand order from the Office of the Asst./ Dy. Commissioner of (CGST & Central Excise), Division-IV Palghar Commissionerate on March 30, 2026.The order confirmed a demand for Input Tax of ₹10,52,26,565 in IGST. This demand is linked to ineligible Input Tax Credit and covers the period from April 2019 to March 2020, accompanied by interest and a penalty.According to an attached statement, the company intends to file an appeal with the Commissioner (Appeals) before the due date. The company stated that this order will not impact its financial operations or other activities.Details of the GST...

MT Educare Limited Defaults on Loan Repayments MT Educare Limited disclosed on March 31st, 2026, that it has defaulted on repayments of principal and interest on loans from banks and financial institutions. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) initiated on December 16th, 2022, as per an order from the National Company Law Tribunal (NCLT).The total amount of outstanding borrowings currently defaults to 32.33 crore. This includes defaults related to Term Loans, Overdraft, and Corporate Guarantees from *Prudence ARC and Axis Bank.A detailed breakdown of the defaults is presented below:Defaulted Loan DetailsLenderPrincipal (INR Crores)Interest (INR Crores)*Prudence ARC16.443.75...

Cargotrans Maritime Ltd. Announces Formation of Wholly Owned Subsidiary Cargotrans Maritime Limited announced on March 31, 2026, the approval to incorporate a wholly owned subsidiary named CML INVESTMENTS PRIVATE LIMITED. The decision was made at a board meeting held on March 31, 2026, which commenced at 11:00 AM and concluded at 11:30 AM.The new subsidiary will be incorporated in India with a paid-up capital of INR 100,000 consisting of 10,000 equity shares. CML INVESTMENTS PRIVATE LIMITED will be engaged primarily in the real estate, securities, and investment trading industry. The company's business portfolio is expected to broaden and provide stability against risks associated with the shipping industry.The subsidiary will be...

Cian Healthcare Ltd. Receives Trading Approval for 2.5 Crore Equity Shares Mumbai, March 31, 2026 – Cian Healthcare Ltd. announced today that it has received trading approval from the Bombay Stock Exchange (BSE) for 2,50,00,000 (Two Crores Fifty Lakhs) fully paid-up equity shares with a face value of INR 10/- (Indian Rupees Ten Only) each. The approval, received on March 30, 2026, follows a resolution plan approved by the National Company Law Tribunal (NCLT) on December 18, 2025.The approved shares are divided into two categories: 12,50,000 (Twelve Lakhs Fifty Thousand) shares were approved for public shareholders, and 2,37,50,000 (Two Crores Thirty-Seven Lakhs Fifty Thousand) shares for promoters. The trading of these shares is...

Valor Estate Ltd. to Acquire Radius Estates and Developers Private Limited Valor Estate Ltd. announced on March 31, 2026, that its wholly owned subsidiary, MIG (Bandra) Realtors Private Limited, entered into transaction documents with Adani Goodhomes Private Limited for the acquisition of the entire equity share capital of Radius Estates and Developers Private Limited.Upon completion of the acquisition, Radius Estates will become a wholly owned subsidiary of MIG and, consequently, an indirect wholly owned subsidiary of Valor Estate Limited. The transaction is subject to conditions, including the release of pledged shares by the existing lender/charge holder and the completion of transfer formalities. The indicative timeline for...

Restile Ceramics Ltd. Announces Resignation of Director and Chairman Restile Ceramics Ltd. announced that Nalinkant Amratlal Rathod (DIN: 00272129) has resigned as a Non-Executive Director and Chairman of the company, effective March 30, 2026. Rathod's resignation is attributed to an increase in professional obligations and his inability to dedicate sufficient time to the company.According to a letter dated March 30, 2026, Rathod confirmed that there are no material reasons for his resignation beyond those previously stated.Table: Resignation DetailsDetailInformationReason for ResignationIncrease in professional obligations and inability to devote adequate time to the Company.Date of ResignationMarch 30, 2026ProfileNot...

Granules Life Sciences Receives VAI Classification Following US FDA Inspection Hyderabad, March 31, 2026 — Granules India Limited announced that its wholly owned subsidiary, Granules Life Sciences Private Limited (GLS), has received a Voluntary Action Indicated (VAI) classification following a US FDA inspection of its manufacturing facility in Shamirpet, Telangana.The Establishment Inspection Report (EIR) was issued after a current Good Manufacturing Practice (cGMP) and pre-approval inspection (PAI) of the oral solid dosage manufacturing operations, conducted between December 15 and 19, 2025. The inspection has now concluded, and no regulatory action has been recommended.Dr. Krishna Prasad Chigurupati, Chairman and Managing Director...

Star Housing Finance Limited Announces Resignation of Independent Director Star Housing Finance Limited (formerly Akme Star Housing Finance Limited) announced the resignation of Mr. Pradip Kumar Das from the position of Non-Executive Independent Director, effective March 30, 2026. Mr. Das’s resignation is due to personal exigencies and unavoidable personal commitments.Mr. Pradip Kumar Das, DIN: 06593113, served as a Non-Executive Independent Director until the close of business hours on March 30, 2026.As of March 30, 2026, Mr. Das held directorships in Birla Cotsyn (India) Limited and Time Technoplast Limited, serving as a Non-Executive Independent Director and Chairman of the Stakeholder Relationship Committee, respectively.Mr...

United Breweries Limited Launches Kingfisher Smooth in Maharashtra Maharashtra, March 31, 2026: United Breweries Limited (UBL), a part of the HEINEKEN Company, announced the launch of Kingfisher Smooth in Maharashtra, aiming to bolster its presence in the mainstream strong beer segment. The launch follows a positive consumer response in Rajasthan and Karnataka.Kingfisher Smooth is positioned as a smoother and more approachable beer experience, brewed with imported hops and no added sugar. The product offers a clean, smooth finish and is priced at INR 125 for a 330 ml bottle, INR 120 for a 330 ml can, INR 155 for a 500 ml can, and INR 200 for a 650 ml bottle. It is currently available in leading retail outlets in Mumbai and Pune and...

Utkarsh Small Finance Bank Completes Portfolio Transfer of Stressed MFI Loans Utkarsh Small Finance Bank Limited has finalized the transfer of portfolios of unsecured stressed Micro Finance Institution (MFI) loans to Asset Reconstruction Companies (ARC) following a Swiss Challenge Method, the Bank announced.The transactions involve two pools of stressed assets, with details as follows:Nature of accounts (Stressed Assets)Number of AccountsAggregate Principal Outstanding as of December 31, 2025 (₹ Cr)Consideration (₹ Cr)BuyerPool 1 - Portfolio of Unsecured Stressed MFI Loans292,0301,016.24133.10Asset Reconstruction Company India Limited (ARCIL)Pool 2 - Portfolio of Unsecured Stressed MFI Loans136,832474.7562.19Shriram Asset...

Automobile Products of India Ltd. Faces ₹10.41 Crore Tax Demand Following Order Rejection Automobile Products of India Ltd. has received an order from the Principal Commissioner of Income Tax, Mumbai, rejecting the company’s revision petition under Section 264 of the Income Tax Act, 1961. The order, dated March 30, 2026, upholds additions to the company’s income of ₹10.60 crores for Assessment Year 2015-16.The tax demand, including interest, amounts to ₹10.41 crores, and a penalty under Section 271(1)(c) of ₹3.60 crores has also been levied. The total financial impact on the company is ₹14.01 crores.The company received the order at approximately 11:38 A.M. on March 30, 2026. Automobile Products of India Ltd. is currently reviewing...

DOMS Industries Completes Acquisition of Additional Stake in Pioneer Stationery DOMS Industries Ltd. announced the completion of an acquisition of an additional 6.5% stake in Pioneer Stationery Private Limited, a subsidiary of DOMS Industries Limited, on March 31, 2026.The acquisition involved the purchase of 3,900 equity shares from existing shareholders of Pioneer for a total consideration of ₹55,380,000. This transaction increases DOMS Industries’ shareholding in Pioneer to 64.0% from a previous stake of 57.5%.The Board of Directors had previously approved the acquisition of a 13.0% stake in Pioneer, with the current transaction representing the remaining portion of that approved acquisition.Source:

Sayaji Hotels Limited Receives Credit Rating Reaffirmation from ICRA Sayaji Hotels Limited announced that ICRA Limited has reaffirmed the credit ratings for the company’s instruments. The reaffirmation, communicated in a letter dated March 30, 2026, applies to the following: a long-term fund-based term loan of ₹60 crore, a long-term fund-based working capital limit of ₹15 crore, and unallocated limits of ₹5 crore. All instruments have been reaffirmed at [ICRA]BBB+ (Stable).The ratings are due for surveillance within one year. ICRA reserves the right to review and revise the ratings based on new information or circumstances. Lenders and investors are encouraged to visit ICRA’s website at www.icra.in for the latest ratings.The...

SRF Limited Faces Demand Order for Tax Credit Disallowance SRF Limited announced that it received a demand order from the Additional Commissioner of CGST and Central Excise- Chennai North Commissionerate on March 30, 2026. The order pertains to the disallowance of certain CENVAT credit claimed by the company for the period spanning 2005 to 2011.The tax authority has issued a demand order for Rs. 1,03,10,343, accompanied by an equivalent amount of penalty and applicable interest. The department alleges that SRF Limited improperly availed CENVAT credit during the specified period.SRF Limited is currently reviewing the order and intends to pursue legal remedies by filing an appeal. Management anticipates that the financial impact will...

RailTel Corporation Secures Major Order from Jharkhand Education Project Council RailTel Corporation of India Limited announced it has received a work order from the Jharkhand Education Project Council. The order, received on March 30, 2026, involves the selection of an agency for conducting English language training and establishing English language labs.The contract is for supply and service and is valued at Rs. 29,69,03,155, including tax. The execution period for the order is until April 6, 2029.According to the work order, no promoter, promoter group, or group companies have an interest in the Jharkhand Education Project Council, and the order does not fall under related party transactions.DetailInformationEntity...

Texmaco Rail & Engineering Limited Receives Order Worth Rs. 357.11 Crores from JSW Group Texmaco Rail & Engineering Limited, an Adventz Group company, announced it has received an order from JSW Group valued at Rs. 357.11 crores. The order pertains to the manufacture and supply of BLSS, BLCS and BFNV Rakes along with BVCM Wagons.The contract term is set for 11 months from the effective date or commencement of works. The order is considered domestic in nature and does not involve any related party transactions.According to company disclosures, neither the promoter group nor any group companies have any interest in JSW Group.ParticularsDetailsBroad consideration or size of the order(s)/contract(s)Rs. 357.11 crores (excluding...

Almondz Global Securities Ltd. Sells Stake in Subsidiary Almondz Global Securities Limited announced the transfer of 32,85,000 shares, representing 20.63% of its total share capital, in subsidiary Almondz Global InfraConsultant Limited (AGICL) to Almondz Finanz Limited on March 30, 2026. The transaction was valued at Rs. 18,57,01,050.Following the sale, Almondz Global Securities Limited’s shareholding in AGICL has decreased to 53.08% of the total paid-up share capital. AGICL will continue to be considered a subsidiary of Almondz Global Securities Limited.According to audited financial statements as of March 31, 2025, AGICL contributed an income of Rs. 11,486.96 lacs, representing 76% of the listed entity's income, and a net worth of...