Markets

Kaynes Technology India Limited Former Executive Settles SEBI Case Kaynes Technology India Limited announced that Mr. Ramesh Kunhikannan, the former Managing Director, has initiated a settlement procedure with the Securities and Exchange Board of India (SEBI) regarding a show-cause notice received on March 11, 2025.The Adjudicating Officer of SEBI issued a Settlement Order on March 27, 2026, concluding adjudication proceedings under Section 15JB of the SEBI Act and Regulation 23(1) of the SEBI (Settlement Proceedings) Regulations, 2018.The Settlement Order addresses allegations of a violation of Regulation 3(5) under Chapter II of the SEBI (Prohibition of Insider Trading) Regulations, 2015. Mr. Kunhikannan paid a penalty of...

The Federal Bank to Receive ₹322.63 Crore Refund from Income Tax Department The Federal Bank Limited announced on March 28, 2026, that it has received orders from the Income Tax Department, Corporate Circle 2 (1), Kochi. The orders, issued under Section 254 of the Income Tax Act, 1961, reflect the Hon'ble ITAT order dated August 13, 2024.The orders pertain to the assessment year 2016-17 and specify a refundable amount of ₹322,62,67,421, including interest under Section 244A of the Income-tax Act. The orders were received on March 27, 2026, at 4:02 p.m.Source:

Bombay Dyeing Receives Order from State Tax Authority Bombay Dyeing & Manufacturing Company Ltd. announced it received an order from The Assistant Commissioner of State Tax, (CST-INV-D-0303), Mumbai. The order, received via system-generated email on March 27, 2026, pertains to the financial year 2019-20 and concerns the treatment of infrastructure charges received on the sale of flats.According to the order, Bombay Dyeing is required to pay Rs. 80,24,960 in GST, Rs. 93,23,302 in interest, and Rs. 80,24,960 in penalty, totaling Rs. 2,53,73,222.The company stated that, aside from the financial impact, this order has not impacted its operations or other activities. Bombay Dyeing intends to file an appeal with the Appellate Authority...

APL Apollo Tubes Limited Allots Equity Shares Under Stock Appreciation Rights Scheme APL Apollo Tubes Limited announced the allotment of 22,379 equity shares to eligible employees under the ‘APL Apollo Tubes Limited Stock Appreciation Rights Scheme 2019’. The allotment occurred on March 28, 2026, as approved by the Share Allotment Committee of the Board of Directors.As a result of this allotment, the company's equity share capital increased from ₹55,52,72,052 divided into 27,76,36,026 equity shares of ₹2 each, to ₹55,53,16,810 divided into 27,76,58,405 equity shares of ₹2 each.The exercise price per share and premium per share were both ₹2. The shares have an ISIN number of INE702C01027. All allotted shares rank pari-passu with...

Comfort Commotrade Limited Receives Order from State Tax Authority, Plans Appeal Comfort Commotrade Limited announced on March 28, 2026, that it received a recovery order from the Assistant Commissioner of State Tax in Mumbai. The order, issued under Section 79(1)(c)(i) of the SGST Act, 2017, directs the company to pay a sum of Rs. 2,25,19,203, comprised of tax, interest, and penalty, to the government.According to a communication received on March 27, 2026, the order pertains to the financial year 2020-21. Comfort Commotrade Limited stated that it believes the order does not align with its contentions and is currently preparing to file an appeal.The company is assessing the financial implications of the order but currently does not...

Span Divergent Ltd. Allots Shares on Preferential Basis Span Divergent Ltd. announced the allotment of 18,01,481 equity shares on a preferential basis to Mr. Neev Nirav Jogani. The decision follows a board meeting held on January 23, 2026, and shareholder approval at an Extraordinary General Meeting on February 20, 2026.The company allotted the shares at an issue price of Rs. 32.16 per share, including a premium of Rs. 22.16. Mr. Jogani paid a total of Rs. 5,79,35,628.96 for the allotment.The company’s paid-up equity share capital before and after the allotment is detailed below:ParticularsNumber of Equity SharesAmount (In Rs.)Pre-allotment paid up share capital54,61,7475,46,17,470Post-allotment paid up share...

Engineers India Limited Announces Changes to Board of Directors Engineers India Limited announced changes to its Board of Directors, effective March 28, 2026. The changes are a result of the completion of tenure for several Non-official Independent Directors, as per a letter from the Ministry of Petroleum & Natural Gas, Government of India, dated March 28, 2025.According to the notification, the following directors have completed their tenures and have ceased to be part of the Board:S. No.NameDINDesignationReason of Change1Shri Deepak Mhaskey09396329Non-official Independent DirectorTenure Completion2Smt. Karuna Gopal Vartakavi05304803Non-official Independent DirectorTenure CompletionThe changes are for the information...

GAIL (India) Limited Announces Departure of Independent Directors New Delhi – GAIL (India) Limited announced on March 28, 2026, that the tenures of four Independent Directors have concluded. The directors, appointed by the Ministry of Petroleum & Natural Gas (MoP&NG), Government of India, ceased their roles on the company’s Board effective March 28, 2026.The departing directors are Akhilesh Jain, Sanjay Kashyap, Kangabam Inaocha Devi, and Yajurvendra Anil Mahajan. Their tenures concluded on March 27, 2026.This announcement is made in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Source:

Moschip Technologies Limited Receives Approval for Amalgamation Scheme Moschip Technologies Limited announced on March 28, 2026, that the Hon’ble NCLT, Hyderabad Bench, has approved the Scheme of Amalgamation of Softnautics Private Limited and Softnautics Inc (wholly owned subsidiaries) with Moschip Technologies Limited, effective from an appointed date of April 4, 2025.The amalgamation is pursuant to Sections 230-232 read with Section 234 of the Companies Act, 2013. The decision follows a disclosure under regulation 30, read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, made on April 8, 2025.Scheme Details The scheme involves the amalgamation of Softnautics Inc. (a company incorporated in...

Indian Oil Corporation Limited Announces Departure of Independent Directors Indian Oil Corporation Limited announced on March 28, 2026, that three Independent Directors have concluded their tenures and have ceased to serve on the company's board, effective the same date.The departing directors are Shri Prasenjit Biswas (DIN - 09398565), Shri Krishnan Sadagopan (DIN - 09397902), and Dr. Dattatreya Rao Sirpurker (DIN - 09400251).The changes were made in accordance with Regulation 30 read with Part A of Schedule Ill of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.Source:

Balmer Lawrie & Company Limited Announces Director Departures Balmer Lawrie & Company Limited announced the cessation of directorships for two independent directors, effective March 28, 2026. Shri Harishkumar Madhusudan Joshi (DIN: 01201050) and Dr. Vandana Minda Heda (DIN: 09402294) have both stepped down from their roles as Non-Executive Directors, Independent Directors, due to the completion of their tenures.The appointments of Joshi and Heda were initially approved by shareholders on September 25, 2025, for a one-year term beginning March 28, 2025, or until further order from the Ministry of Petroleum & Natural Gas, Government of India.Details regarding the director changes are provided in Annexure-A:SI No.ParticularsDetails...

Uno Minda Subsidiary Faces Customs Order, Plans Appeal Uno Minda Limited announced that its subsidiary, Minda Westport Technologies Limited (MWTL), has received a customs order related to the classification of imported components. The order, received on March 27, 2026, concerns the CTH/HSN misclassification of components used in manufacturing vehicle CNG systems.According to the order, MWTL is being requested to pay a total of Rs. 51,13,58,188, comprised of Rs. 25,56,79,094 in tax and Rs. 25,56,79,094 in penalties.MWTL has stated that it disagrees with the findings in the order and intends to file an appeal. The company anticipates no material impact on its financial, operational, or other activities as a result of this matter. The...

Sasken Technologies Limited Receives Order Regarding GST Dispute Sasken Technologies Limited announced receipt of an order from the Office of the Superintendent of GST & Central Excise, Range V, Perungudi Division, Chennai South Commissionerate, concerning a tax dispute. The order, received March 27, 2026, relates to the period April 2019 to March 2024 and involves an Order-in-Original under Section 74(9) of the CGST/TNGST Act, 2017.The order details alleged violations including an excess refund claim of 13,91,177, non-reversal of Input Tax Credit (ITC) on credit notes issued totaling 5,10,996, and excess ITC availed in GSTR-3B returns compared to available ITC in GSTR-2A/2B amounting to 20,774.Here's a summary of the order details...

Bharat Heavy Electricals Limited Announces Departure of Independent Directors Bharat Heavy Electricals Limited (BHEL) confirmed the completion of tenure for two Independent Directors on its Board. Ashok Kumar Aseri (DIN: 09405164) and Aashish Chaturvedi (DIN: 00534621) have concluded their terms as Part-time Non-Official (Independent) Directors, effective March 27, 2026. The announcement fulfills requirements stipulated by the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dr. Yogesh R Chhabra, Company Secretary, made the confirmation on behalf of BHEL.Source:

Torrent Power Receives Demand Order for ₹94.71 Crs from Tax Authorities Torrent Power Limited announced it received a demand order from the Office of the Additional Commissioner, Agra, Lucknow, CBIC, Uttar Pradesh, on March 27, 2026. The order, referencing a previous order dated March 25, 2026, from the Office of The Principal Commissioner, CGST & Excise, Agra, pertains to a demand of ₹94.71 Crs in CGST & SGST for the period from April 2019 to September 2024. This demand is related to GST on rent on immovable properties and incidental services. A penalty of a similar amount, totaling ₹94.71 Crs, was also imposed.The breakdown of the demand is detailed below:ParticularsDetailsCGST₹47,35,55,749SGST₹47,35,55,749Total (CGST &...

Mphasis Limited Addresses Board Composition and Compliance Concerns Mphasis Limited addressed concerns regarding compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following notices received from the stock exchanges on February 27, 2026. The matter was reviewed by the Board of Directors at a meeting held on March 27, 2026.The Board noted that careful consideration was required for the selection and appointment of a Chairperson, given the role's demands for competence, skill, experience, and seniority. During the period from December 11, 2025, to January 6, 2026, no Board meetings were convened, and a Chairperson was appointed on January 7, 2026, with the first subsequent meeting held on January...

Oil India Limited Announces Changes to its Board of Directors Noida, India – March 28, 2026 – Oil India Limited announced changes to its board of directors today, following a directive from the Ministry of Petroleum & Natural Gas (MoP&NG).Effective March 28, 2026, Balram Nandwani (DIN: 00356119), Raju Revanakar (DIN: 09398201), and Pooja Suri (DIN: 03077515) have ceased to serve as Independent Directors of the company. Their tenures concluded on March 27, 2026.Additionally, Pooja Suri has also stepped down from her role as an Independent Director of Numaligarh Refinery Limited, a subsidiary of Oil India Limited. This change is directly linked to the co-terminus nature of the position with her tenure on the Oil India Limited board...

Bharat Petroleum Corporation Limited Announces Changes in Board of Directors Bharat Petroleum Corporation Limited announced changes to its board of directors, effective March 28, 2026. The changes follow the completion of tenure for several directors.Shri Pradeep Vishambhar Agrawal, Shri Gopal Krishan Agarwal, and Prof. Bhagwati Prasad Saraswat, all serving as Independent Directors, have ceased to be directors of the company.The company's stock trades on the Bombay Stock Exchange under Scrip Code 500547 and on the National Stock Exchange under Symbol BPCL.Source:

Coal India Limited Announces Departure of Independent Directors Coal India Limited announced on March 28, 2026, that four Independent Directors have concluded their tenures and have ceased to be directors of the company, effective March 28, 2026.The departing directors are: CA Kamesh Kant Acharya (DIN- 09386642), Shri Punambhai Kalabhai Makwana (DIN- 09385881), Shri Bhojarajan Rajeshchander (DIN- 02065422), and Smt. Mamta Palariya (DIN- 07749007).Below is a summary of the director changes:NameDINReason for CessationDate of CessationCA Kamesh Kant Acharya09386642Completion of tenure28.03.2026Shri Punambhai Kalabhai Makwana09385881Completion of tenure28.03.2026Shri Bhojarajan Rajeshchander02065422Completion of...

Swan Defence and Heavy Industries Completes Repayment to Committee of Creditors Swan Defence and Heavy Industries Limited (formerly Reliance Naval and Engineering Limited) announced the full and final repayment to its Committee of Creditors (CoC) on March 27, 2026. The repayment follows the National Company Law Tribunal (NCLT) Order dated December 23, 2022, and is in accordance with the Resolution Plan.Priti P. Dave, Company Secretary & Compliance Officer, made the announcement. The company's BSE Scrip Code is 533107, and its NSE Symbol is SWANDEF.Source: