Markets

IOL Chemicals and Pharmaceuticals Receives Approval to Strike Off Subsidiary IOL Chemicals and Pharmaceuticals Limited announced that the Registrar of Companies has approved the application to strike off IOL Life Sciences Limited, a wholly-owned subsidiary, from the Register of Companies. The approval was conveyed via Notice No. STK-7/001115/2026 dated April 1, 2026.As of March 31, 2025, IOL Life Sciences Limited contributed revenue of nil, representing 0% of the company's total revenue, and a net worth of 638,838, representing 0% of the company’s net worth. The strike-off is not expected to have a material impact on the financials or operations of IOL Chemicals and Pharmaceuticals Limited.S.No.Requirement of DisclosureDetails...

Bajaj Hindusthan Sugar Limited Allots Equity Shares on Preferential Basis Bajaj Hindusthan Sugar Limited announced the allotment of 1,67,23,565 equity shares on a preferential basis to Bank of India on April 1, 2026. The shares were allotted at a price of Rs. 5.12 per share, including a premium of Rs. 4.12. The total value of the allotment amounts to Rs. 8.56 Crores, resulting from the conversion of a loan in accordance with the company's "Resolution Plan."Following the allotment, Bajaj Hindusthan Sugar Limited's paid-up equity share capital has increased from Rs. 2,37,39,42,476 divided into 2,37,39,42,476 equity shares of Re.1 each to Rs. 239,06,66,041 divided into 239,06,66,041 equity shares of Re.1 each. This allotment completes...

Piramal Pharma Completes Acquisition of Kenalog® from Bristol-Myers Squibb Piramal Pharma Limited announced the successful completion of its acquisition of Kenalog® and related brands from Bristol-Myers Squibb Company. The acquisition was finalized by Piramal Critical Care B.V., a wholly-owned subsidiary of Piramal Pharma Limited.This acquisition strengthens Piramal Pharma’s Complex Hospital Generics portfolio and expands its presence across key markets including the United States, Europe, and Asia Pacific. The initial announcement regarding the transaction was made on January 28, 2026.Source:

Everest Industries Finalizes First Phase of Land Sale at Podanur Everest Industries Limited announced the completion of the first phase of a land sale at its Podanur facility, according to an update released April 1, 2026. The sale is to G Square Realtors Private Limited and will be completed in two phases.The initial phase involves approximately 15 to 16 acres of land. Everest Industries had previously indicated an estimated completion date of March 31, 2026, however, the transaction is now expected to be finalized in April 2026, following progress on government approvals.Source:

Arihant Academy Limited Opens New Branch in Vasai (West) Arihant Academy Limited announced the opening of a new study center in Vasai (West), Thane, Maharashtra, on April 1, 2026. The new center, located on Shankar Baba Road, near Janki Talkies, Padrikhan Wadi, Parnaka, Vasai West, marks the third branch for the company in the Vasai region.The expansion is part of Arihant Academy’s strategy to strengthen its presence in the Mumbai Metropolitan Region and increase accessibility to educational services.The new study center will provide academic and professional coaching across several segments, including:School Section: Coaching for State Board, ICSE Board, and CBSE Board students. Science Stream: Preparation for IIT-JEE, NEET, and...

Bharat Heavy Electricals Limited Receives Demand Order from GST Authorities Bharat Heavy Electricals Limited (BHEL) announced that it received a demand order from the GST Authorities in Karnataka on March 31, 2026. The order relates to a demand raised under Section 74 of the CGST Act, 2017, for the period FY 2019-20 to FY 2022-23.The demand initially raised in a show cause notice on September 29, 2025, amounted to Rs. 65.75 crore. An adjudicating authority subsequently dropped Rs. 54.83 crore of the demand. The remaining balance demand is Rs. 10.92 crore, accompanied by a penalty of Rs. 10.80 crore and applicable consequential interest.The issues raised pertain to disputes regarding classification, liability write-backs, and input...

UCO Bank Announces Promotions to Chief General Manager Positions Mumbai – UCO Bank announced several promotions within its senior management team, effective April 1, 2026. The promotions elevate three General Managers to the position of Chief General Manager.The individuals appointed to the Chief General Manager roles are Saroj Ranjan Nayak, Prem Shankar Jha, and Avinash Shukla.Sl. no.NameExperience1Mr. Saroj Ranjan NayakMore than 17 years of experience in the banking sector. He holds a Bachelor of Technology (B.Tech.) in Electronics & Telecommunication, and certifications including Certified Associate of Indian Institute of Bankers (CAIIB), Certified Information Security Manager (CISM), and Certified Information Systems...

RBL Bank Responds to Allegations of Funds Diversion RBL Bank Ltd. has clarified its position regarding a news report appearing on www.siasat.com on March 30, 2026, alleging 137 crore was diverted to China through mule accounts at a branch in Telangana.The bank confirmed awareness of FIR Nos. 68/2026 to 78/2026 registered at PS Karimnagar-III Town under various sections of the Indian Penal Code and the IT Act. The matter is currently under investigation by the Karimnagar-III Town Police, Telangana Cyber Security Bureau, and is pending before the Hon'ble Junior Civil Judge-cum-Judicial First Class Magistrate at Karimnagar.The investigation concerns the alleged misuse of current accounts at the Bank's Kisan Nagar branch in Karimnagar...

Mahamaya Steel Industries Announces March 2026 Sales Figures Mahamaya Steel Industries Ltd. reported sales of 13,982.830 MT for the month of March 2026. The announcement was made on April 1, 2026, and disseminated to the Bombay Stock Exchange (Scrip Code: 513554) and the National Stock Exchange of India (Symbol: MAHASTEEL).The sales figure represents the company’s performance for the specified period. The information is intended for public dissemination.Source:

MOIL Limited Receives Order Regarding Tax Discrepancies Nagpur – April 1, 2026 – MOIL Limited, a Government of India enterprise, announced today that it has received an order from the Joint Commissioner of State Tax, Chhindwara Division, Jabalpur Zone, Madhya Pradesh. The order, dated March 31, 2026, relates to alleged discrepancies between GSTR-1, GSTR-3B, and E-way Bill data, as well as Input Tax Credit (ITC) related issues for the financial year 2022-23.The order, issued under Section 73 of the CGST/SGST Act, 2017, includes a total demand of ₹12,768,306. This comprises ₹11,607,551 in IGST and a penalty of ₹11,607,555. Interest is pending computation as of the payment date. The alleged discrepancies are attributed to factors such as...

Nilkamal Limited Receives Order from CGST and Central Excise (Appeals) Nilkamal Limited announced on April 1, 2026, that it received an order from the Office of the Commissioner, CGST and Central Excise (Appeals) in Ranchi. The order, dated March 31, 2026, pertains to a GST assessment order initially issued on February 5, 2025, by the Deputy Commissioner, State of Jharkhand, for the financial years 2017-18 to 2022-23.The company had previously filed an appeal against the assessment order on April 27, 2025. The final order from the Commissioner assesses a demand of Rs. 3,13,313, along with applicable interest and a penalty of Rs. 60,000.Nilkamal Limited intends to pay the assessed demand and will also file an amnesty application to...

Indian Hume Pipe Company Ltd. Reports Income Tax Penalty Order The Indian Hume Pipe Company Limited received orders from the Assessment Unit, Income Tax Department, NAFAC, Delhi, on March 31, 2026, related to income tax assessments for the Assessment Year 2023-2024.Penalty Order Under Section 270AThe company received an order dated March 31, 2026, under Section 270A of the Income Tax Act, 1961, imposing a penalty of Rs. 5,10,20,732. This penalty is based on the alleged under-reporting of income and misreporting of income. The order follows a disallowance of a deduction claimed under Section 54D of the Act, amounting to Rs. 7,30,03,569, initially made in an assessment dated March 25, 2025, and subsequently confirmed by the...

BPL Limited Receives Order from Debt Recovery Tribunal BPL Limited announced on April 1, 2026, that it received an order from the Debt Recovery Tribunal (DRT) in Delhi. The order, dated January 19, 2026, pertains to a continuing event regarding a corporate guarantee.According to the DRT order, BPL Limited acted as a corporate guarantor for a loan of Rs. 10 crore that its subsidiary, BPL Display Devices Limited (BDDL), availed in 2003. BDDL has been in liquidation since October 2008. The tribunal’s order allows ARCIL to invoke the guarantee and recover dues from BPL Limited.BPL Limited received a copy of the DRT order on March 19, 2026. The company experienced a slight delay in reporting due to efforts to verify the order's...

MT Educare Limited Discloses Defaults on Loan Payments MT Educare Limited announced on April 1st, 2026, that it has defaulted on payments of interest and principal related to loans from banks and financial institutions. The delays stem from disruptions in the education sector caused by COVID-19 pandemic restrictions and subsequent challenges faced by the company.As of March 31st, 2026, the company’s total outstanding loans and revolving facilities from banks and financial institutions amounted to INR 32.33 crore, with no default reported. The company has no outstanding unlisted debt securities.The company also disclosed corporate guarantees totaling INR 7.3 crore with Axis Bank Ltd. and INR 16.69 crore with Asset Care &...

Force Motors Reports Sales Increase in March 2026 Force Motors Ltd. announced sales figures for March 2026, indicating growth in domestic markets and a decline in export sales. Market trend analysisDomestic Sales Show Strong Growth The company reported 4,126 units sold in the Small Commercial Vehicle (SCV), Light Commercial Vehicle (LCV), Utility Vehicle (UV), and Sports Utility Vehicle (SUV) category for March 2026. This represents a 14.42% increase compared to 3,606 units sold in March 2025.Export Sales Decline Export sales for the same vehicle categories totaled 73 units in March 2026, a decrease of 22.34% from 94 units in March 2025.Combined Sales Reflect Overall Growth Total sales, combining domestic and export figures...

Prince Pipes and Fittings Limited Receives Demand Order for ₹31.12 Million Prince Pipes and Fittings Limited announced on April 1, 2026, that it received a demand order in Form GST DRC-07 dated March 30, 2026, from the Office of Joint Commissioner, State Goods & Service taxes Department, Government of Rajasthan, Jaipur. The demand order pertains to the financial year 2019-20 and totals ₹31,12,290, comprising a tax demand of ₹10,10,484, interest of ₹10,91,322, and a penalty of ₹10,10,484.The order alleges that the company claimed ineligible input tax credit under Section 17(5) of the CGST/RGST Act. According to the company’s assessment, the demand is not maintainable, and it is evaluating the matter and will submit a reply within the...

Sudarshan Chemical Industries Receives GST Order Sudarshan Chemical Industries Ltd. announced on April 1, 2026, that it received a GST Demand Order from the Office of the Superintendent of GST and CE, Range IV: Valasaravakkam Division Chennai, South Commissionerate, Tamil Nadu. The order, dated March 31, 2026, relates to the period from April 1, 2019, to March 31, 2024.The company faces a total demand of Rs. 65,920 for the period April 1, 2019 - March 31, 2020, Rs. 5,89,258 for the period April 1, 2020 - March 31, 2021, Rs. 4,19,970 for the period April 1, 2021 - March 31, 2022, Rs. 80,598 for the period April 1, 2022 - March 31, 2023, and Rs. 1,00,332 for the period April 1, 2023 - March 31, 2024.A breakdown of the demand for the...

Crompton Greaves Consumer Electricals Receives Order from Income Tax Appeals Centre Crompton Greaves Consumer Electricals Ltd. announced it received an order from the office of the Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi, concerning the assessment year 2018-19. The order relates to an appeal filed by the company against an assessment order dated February 15, 2021, under Section 143(3) of the Income Tax Act, 1961.According to the company, the order involves demands stemming from disallowances related to provisions for warranty and after-sales services, expenditure incurred for earning exempt income, education cess claims, and reductions claimed under Section 80IC.The potential financial impact of...

Chandra Bhagat Pharma Ltd. Opens New Office in Dubai Chandra Bhagat Pharma Limited announced the opening of a new international business/representative office in Dubai, United Arab Emirates, to expand its global footprint and enhance export opportunities. The office aims to strengthen relationships with international clients and partners.The new office is scheduled to commence operations on March 31, 2026. This initiative aligns with the company’s strategic growth plans to tap into international markets and expand global business operations. Business news subscriptionAccording to a Certificate of Formation, the Chandra Bhagat Pharma Limited Branch was formed on March 31, 2026, with formation number 2645307. The address of the branch...

Sterling and Wilson Renewable Energy Receives Order from GST Authorities Sterling and Wilson Renewable Energy Limited announced on April 1, 2026, that it received an order from the Superintendent, CGST, Vidhyadhar Nagar, Jaipur, Rajasthan. The order, dated March 31, 2026, disallows input tax credit for the period April 2019 to March 2020, resulting in a demand for tax and penalty totaling approximately INR 26.38 Lakhs, including a penalty of INR 13.19 Lakhs.The company is currently evaluating the order and will determine its subsequent course of action. According to the company, there is no material impact on its operations as a result of this order.Sr. No.ParticularsDetails5Brief summary of the material contents of the...