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PFC's Wholly Owned Subsidiary Bihar Infrapower Struck Off Following Project Closure Power Finance Corporation Limited (PFC) confirmed that its wholly owned subsidiary, Bihar Infrapower Limited, has been officially struck off by the registrar of companies. The action followed the decision to close the Ultra Mega Power Project in the State of Bihar.Bihar Infrapower Limited was incorporated on June 30, 2015, under the Companies Act, 2013. It functioned as a Special Purpose Vehicle (SPV), holding various Licenses and Land required for the Banka UMPP, an Ultra Mega Power Project in Bihar.The closure of the project necessitated the dissolution of the subsidiary. Following this decision, the Ministry of Power, Government of India, granted...

B-Right Realestate Secures MOU for New Residential Project in Village Parel B-Right Realestate Limited has entered into a Memorandum of Understanding (MOU) with its step-down subsidiary, B-Right RMBD Developers LLP, concerning the development of two residential projects: Viswas Niwas 8 and Viswas Niwas 9. The project is slated for construction in Village Parel.The MOU details the scope of work for these developments, which include land parcels designated by CS No.187/74 and CS No.186/74.According to the development plan, the project site covers a total land area of 1,081.95 Sq. Mtr. The undertaking is expected to result in an approximate Total Sales area spanning 45,760 Sq. Ft.The financial viability of the venture has been...

White Force Secures Rs 53.21 Lakh Work Order from M P Power Generating Company Limited White Force, a brand of Happy Square Outsourcing Services Limited, has secured a work order valued at approximately Rs 53.21 Lakhs from M P Power Generating Company Limited (Sirmour). The contract encompasses services related to the day-to-day routine operations and associated auxiliaries at MPPGCL Sirmour.The contract terms specify that Happy Square Outsourcing Services Limited will provide assistance in the daily routines of the unit, with the agreement being valid for a period up to 24 months. This engagement falls under the ordinary course of business for the company.The acquisition of this contract is expected to generate revenue of...

KDDL Limited Announces Resignation of Non-Executive Director Hanspeter Pieth KDDL Limited has announced the resignation of Mr. Hanspeter Pieth from the position of Non-Executive Director of the company. The change is effective as of the closure of business hours on June 22, 2026.Mr. Pieth submitted his resignation citing time constraints as the reason for stepping down from the role.The details regarding this corporate transition are summarized below:Disclosure RequirementDetailsReason for ChangeResignation of Mr. Hanspeter Pieth (DIN: 11423774) from the position of Non-Executive DirectorDate of CessationWith effect from the closure of business hours 22nd June, 2026Brief ProfileNADisclosure of relationships between...

NAVA LIMITED Consolidates Investments with Proposed Amalgamation of Two Wholly Owned Subsidiaries NAVA LIMITED's Board of Directors has approved the proposal for the amalgamation of two wholly owned subsidiaries, Nava Healthcare Pte. Ltd. and Nava Global Pte. Ltd. The proposed reorganization is set to streamline the Group’s investment portfolio across various sectors, including healthcare, energy, mining, and metals, leveraging the strategic strengths of each entity.The amalgamation involves integrating Nava Healthcare Pte. Ltd. (NHPL) into Nava Global Pte. Ltd. (NGPL). This move represents an internal restructuring designed to consolidate investments under a simplified holding structure. The transaction will not result in any change...

Birla Corporation Commences Commercial Coal Production at Bikram Mine in Madhya Pradesh Birla Corporation Ltd has announced that its Bikram Coal Mine has commenced commercial production of coal. This significant operational milestone was achieved on June 22, 2026.The Bikram Coal Mine is located in Burhar, Shahdol, Madhya Pradesh. The commencement of commercial production occurred at approximately 1:45 p.m. IST on the specified date.This development follows previous company intimations regarding the coal mining operations planned for the site.BIRLACORPN Stock Price Movement Shares of Birla Corporation Limited today slipped by 1.21% to settle at ₹1005.95, signaling a downturn for the commodity-related equity. The stock saw 116,905...

Bikewo Green Tech Limited Approves Capital Increase and Preferential Allotment of Shares and Warrants Bikewo Green Tech Limited announced that its Board of Directors meeting, held on June 22, 2026, approved several key corporate actions relating to capital structure expansion, preferential allotment, and the convening of an Extra Ordinary General Meeting (EGM).The board decisions included increasing the company's authorized capital to Rs. 40,00,00,000/- (Rupees Forty Crores Only). This increase comprises 4,00,00,000 equity shares, each valued at Rs. 10/-, representing four crore equity shares.The company also authorized the creation and offering of securities on a preferential basis to both non-promoter and promoter categories...

Choice International Limited appoints Dr. Nitin Kareer to Advisory Board in move for enhanced governance Choice International Limited has announced the appointment of Dr. Nitin Kareer as a member of its existing Advisory Board. The company stated that Dr. Kareer's expertise and strategic insight will be valuable assets, contributing to stronger regulatory compliance and improved long-term decision-making.Dr. Nitin Kareer is being brought into the role based on his extensive background in governance and public administration. He holds an MBBS qualification and previously served as a Chief Secretary to the Government of Maharashtra. Dr. Kareer is a retired Indian Administrative Service (IAS) officer from the 1988 cadre.The appointment...

Hind Rectifiers Limited Completes Sale of Part of Non-Operational Dehradun Plant Hind Rectifiers Limited has finalized the sale of a portion of its non-operational Dehradun plant, which had been out of use since 2023. The sale marks the disposition of assets related to the facility, for which there were no plans to restart operations despite previous communications regarding product obsolescence.The company entered into the sale deed for a part of the plant situated in Village Chharba, Dehradun, Uttarakhand. This transaction concluded with the acquisition of the asset by Mrs. Pratima Saklani.Financial and transactional details related to the sale are as follows:ParticularsDetailsAsset SoldPart of the non-operational Dehradun...

Syrma SGS Technology and Kaga Electronics Partner to Establish Advanced EMS Manufacturing Facility in India Syrma SGS Technology Limited has entered into an agreement with Kaga Electronics India Private Limited to establish, develop, and operate a state-of-the-art Electronic Manufacturing Services (EMS) facility in India. This joint venture is specifically aimed at serving Japanese clients within the advanced technology sector.Under the proposed transaction, Syrma SGS Technology Limited will take an aggregate ownership stake of up to 60% in the Joint Venture Company (JVCo). Kaga Electronics India Private Limited will hold a corresponding equity stake of up to 40%. The establishment of this facility is intended to create a...

GAIL Appoints Executive Director as Finance Director Following Ministry Nomination GAIL (India) Limited, a Maharatna company and a Government of India Undertaking, is in the process of formalizing the appointment of Shri Satish Kumar Sinha as Director (Finance). This appointment follows the nomination by the Ministry of Petroleum and Natural Gas, Government of India.The notification confirmed that the Ministry of Petroleum and Natural Gas nominated Executive Director GAIL, Shri Satish Kumar Sinha (DIN-10528036), to serve as a Director (Finance).Shri Sinha's tenure is scheduled to commence from the date of his assumption of charge on or after July 01, 2026. His appointment is set until May 31, 2029, or until further orders, whichever...

MRC Agrotech Ltd approves land lease and converts loans into equity in subsidiary MRC Agrotech Limited's Board of Directors recently approved several significant operational decisions, including the long-term leasing of agricultural land for business expansion, the capitalization of completed Work-in-Progress (WIP), and the conversion of existing company advances into equity investment in a majority-owned subsidiary.The board meeting reviewed and ratified critical transactions that support the Company's growth trajectory and internal financial restructuring. These approvals cover operational scaling, asset management, and strategic financial alignment across the group entities.Land Lease Agreement Approved The Board approved the...

Dhabriya Polywood Subsidiary Secures 13 Crore Work Order for Modular Kitchens from M3M Group Dhabriya Polywood Ltd.'s wholly owned subsidiary, Dynasty Modular Furnitures Pvt. Ltd., has secured a significant work order from M3M Group. The contract pertains to the execution of Modular Kitchen Works and is valued at a total consideration of 13.05 Crore, inclusive of GST.The receipt of this domestic work order marks a substantial operational update for the company and its subsidiaries.Key details regarding the secured contract are as follows:DetailSpecificationClientM3M GroupNature of WorkModular Kitchen WorksTotal Consideration13.05 Crore (including GST)Execution TimelineThe project is scheduled for completion in 18...

Monetary Penalty Imposed! RBI Slaps ₹5 Lakh Fine on Maharashtra Bank for Violating Director Loan Guidelines The Reserve Bank of India (RBI) has imposed a monetary penalty on Hutatma Sahakari Bank Ltd., Walva, Maharashtra. The penalty was finalized by an order dated June 19, 2026, and targets the bank's non-compliance with crucial RBI directions. The fine amounts to ₹5 lakh (Rupees Five Lakh only).The action is taken under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. This measure addresses deficiencies observed during a supervisory inspection conducted by RBI.Violation Confirmed: Loans to Director's Relative Lead to Fine The core reason for the imposition is the bank's...

Monetary Crackdown: RBI Slaps ₹1 Lakh Fine on Karnataka Cooperative Bank for Director Loan Violations RBI Imposes Penalty Over Compliance Lapse at Shimoga District Co-operative Central Bank Ltd. The Reserve Bank of India (RBI) has imposed a monetary penalty on The Shimoga District Co-operative Central Bank Ltd., Karnataka. The fine, amounting to ₹1 lakh (Rupees One Lakh only), was levied in response to serious contraventions of banking regulations by the institution. This action underscores RBI's stringent oversight regarding statutory compliance within the financial sector.The penalty was formally imposed via an order dated June 15, 2026. The violation pertains specifically to breaches outlined under Section 20 combined with Section...

Protean eGov Technologies Re-designates Dr. Harpreet Singh Anand as Chief Growth & Marketing Officer Protean eGov Technologies Limited has re-designated Dr. Harpreet Singh Anand, enhancing his role to encompass both Human Resources and Corporate growth initiatives. The decision was formalized by the Nomination & Remuneration Committee (NRC) on June 22, 2026.Effective immediately, Dr. Harpreet Singh Anand will serve as the Chief Human Resources Officer (CHRO) and the new Chief Growth & Marketing Officer (CGMO). This role transition allows him to take up additional responsibilities across both organizational development and market strategy at the company.Dr. Anand's profile spans over two decades in various industries, specializing in...

Mahindra Financial Services Completes Board Transition: Ashwani Ghai Ceases Directorship as Krishna Kumar Sukumaran Nair Joins Mahindra & Mahindra Financial Services Limited has seen a significant change in its board composition, with Mr. Ashwani Ghai ceasing his directorship and Mr. Krishna Kumar Sukumaran Nair joining the company’s governing body. The transition is part of strategic changes within the organization's leadership structure.Mr. Ashwani Ghai (DIN: 09733798), who had served as a Non-Executive (Non-Independent) Director representing the Life Insurance Corporation of India (LIC), ceased his directorship effective June 22, 2026. His tenure began when he was appointed to the board on June 23, 2023.The change is consequent...

Indian Economy Surges at 7.8% in Q4:2025-26; RBI Bulletin Highlights Resilient Growth Amid Global Tensions The Reserve Bank of India (RBI) today released the June 2026 edition of its monthly Bulletin, which provides a detailed analysis of the State of the Economy. The report confirms that the Indian economy demonstrated robust performance, achieving growth at 7.8 percent in Q4:2025-26.The comprehensive bulletin includes current economic statistics, one significant speech, and an extensive article dedicated to analyzing the nation's economic health. These materials offer insights into domestic consumption patterns and external sector stability as of June 2026.Key Drivers Fueling Economic Growth Despite a globally challenging...

Elecon Engineering Company Approves Appointment of Additional Director and Restructures Board Committees Elecon Engineering Company Limited announced that its Board of Directors approved the appointment of Mr. Pranav C. Amin as an Additional Non-Executive and Independent Director. Furthermore, the board meeting held on June 22, 2026, saw the re-constitution of key committees within the company.The decision to appoint Mr. Pranav C. Amin was made based on the recommendation of the Nomination & Remuneration Committee. He is set to assume the role effective from June 22, 2026, and his appointment is subject to ratification by the Members of the Company through a Special Resolution.Mr. Amin will serve for his second term of five...

Zota Health Care Acquires 80% Stake in Globotask IT for Strategic IT Solutions Zota Health Care Limited has acquired an 80% stake in M/s Globotask IT Consultancy Services Private Limited (GITCPL). The acquisition, which was approved by the Company's Board of Directors, will result in GITCPL becoming a subsidiary of Zota Health Care Limited.The transaction involved a cash consideration for the purchase of equity shares. Zota Health Care completed the acquisition on June 22, 2026, purchasing 8,000 equity shares of GITCPL for an aggregate cost of Rs. 25,00,000/- (Rupees Twenty Five lakhs Only).The primary objective of the investment is to provide comprehensive IT solutions to Zota Health Care and its Subsidiaries. These services...