Markets

Eternal Limited Receives GST Orders Eternal Limited announced today that it received two orders regarding Goods and Services Tax (GST) assessments. The orders, received on March 18, 2026, relate to periods between April 2019 and March 2020, and April 2022 and March 2023.The first order, from the Additional Commissioner, CGST Gurugram Commissionerate, confirmed a GST liability of INR 4,97,99,769, along with applicable interest and a penalty of INR 4,97,99,769.The second order, from the Assistant Commissioner, Ranchi, Jharkhand, confirmed a GST liability of INR 5,99,95,835, interest of INR 2,69,98,126, and a penalty of INR 59,99,583.Eternal Limited maintains it has a strong legal position and intends to file appeals against these...

Embassy Developments Limited Faces Order Regarding Land Held by Subsidiary Embassy Developments Limited announced that a Karnataka Industrial Areas Development Board (KIADB) order has been passed concerning land held by its subsidiary, Embassy East Business Park Limited (EEBP). The order, dated March 16, 2026, and received by EEBP on March 17, 2026, pertains to approximately 78 acres of land situated in the Kadugodi Industrial Area, Bengaluru Urban District.EEBP holds leasehold rights on the land pursuant to a Lease Cum Sale Agreement (LCSA) dated June 7, 2007, with KIADB, which is valid until June 6, 2029.The KIADB order, issued under Section 34B of the Karnataka Industrial Areas Development Act, 1966, directs EEBP to surrender...

Aptech Ltd. Responds to Investigative Authority Visit March 19, 2026 – Aptech Ltd. announced today that officials from an investigative authority visited the company's premises on March 18, 2026.The matter under review concerns testing-related activities conducted in 2022 within the Institutional Business segment, involving one of Aptech’s subsidiaries. The value of these activities amounts to Rs. 19.9 lakhs.Aptech stated that the examinations were performed in accordance with established processes, applicable guidelines, and audit protocols, with adequate audit trails and data integrity mechanisms in place. The company has cooperated fully with the officials, providing all necessary information and assistance.Currently, Aptech...

Jonjua Overseas Limited Announces Board Meeting and Leadership Changes Jonjua Overseas Limited, a company listed and traded on the BSE SME, announced upcoming changes to its leadership team and a scheduled board meeting. The meeting is slated for Tuesday, March 24, 2026, at 4:30 PM.During the board meeting, directors will consider the resignation of Company Secretary and Compliance Officer, CS Vaishali Rani (ACS: 74379). The board will also approve the transfer of CS Riva Maini (ACS: A49612) from Jonjua Air Limited to Jonjua Overseas Limited. Furthermore, the board will review the company’s day-to-day affairs.The company’s registered and corporate office is located at 545, Jubilee Walk, Sector 70, Mohali 160071 Punjab, India...

Mahindra Lifespace Developers Limited Launches ‘Mahindra Rainforest’ Residential Project Mahindra Lifespace Developers Limited announced on March 19, 2026, that its wholly-owned subsidiary, Anthurium Developers Limited, has launched a residential project named ‘Mahindra Rainforest’ located at LBS Marg, Kanjur, Mumbai.The project, registered with the Maharashtra Real Estate Regulatory Authority, has RERA registration numbers PM1181012502957 and PR1181012502956. Additional registration numbers for future phases will be obtained as they are launched. Details of the project are available on the Maharashtra Real Estate Regulatory Authority website at https://maharera.maharashtra.gov.in/.The project launch occurred on March 18, 2026, and...

Fenton Investments Acquires Shares in Ester Industries Limited Fenton Investments Private Limited announced the acquisition of 84,000 equity shares from Mr. Ayush Vardhan Singhania, a member of the Promoter Group, in Ester Industries Limited. The transaction, structured as an inter-se transfer, is expected to be completed within four working days from March 18, 2026.The acquisition, totaling 0.08% of Ester Industries Limited's paid-up capital, is exempt from an open offer requirement under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition price will not exceed the limits stipulated in Regulation 10(1)(a) of the SEBI Takeover Regulations. The volume weighted...

Religare Enterprises Subsidiary Faces Income Tax Demand Religare Enterprises Limited announced on March 18, 2026, that its material subsidiary, Care Health Insurance Limited (CHIL), has received two Orders dated March 17, 2026, under Sections 147 and 143(3) of the Income-tax Act, 1961, from the Office of the Assistant Commissioner of Income-Tax, Central Circle 6(2) Mumbai. These orders pertain to the Assessment Years 2023-24 and 2024-25, respectively, and raise a cumulative income tax demand of Rs. 140.20 Crores, including interest.CHIL maintains that the tax demand and applicable interest were incorrectly computed. The company is currently preparing to file a rectification application with the authority. CHIL estimates that the...

ArisInfra Solutions Limited Approves Amalgamation of ArisUnitern RE Solutions Private Limited Mumbai, March 18, 2026 – ArisInfra Solutions Limited (ARIS) announced today that its Committees and Board approved the amalgamation of ArisUnitern RE Solutions Private Limited, a subsidiary of ARIS, with the Company. The appointed date for the Scheme of Amalgamation is April 01, 2026.The amalgamation will become effective upon receipt of approvals from the National Company Law Tribunal (NCLT), and other regulatory and statutory authorities.BackgroundArisInfra Solutions Limited is a tech-enabled B2B company focused on simplifying the procurement of construction materials across India. ArisUnitern, a real estate service provider, is a...

Bharti Airtel Completes Conversion of Partly Paid-Up Equity Shares Bharti Airtel Limited announced the conversion of 391,176,994 partly paid-up equity shares into fully paid-up equity shares on March 18, 2026. The conversion follows the receipt of INR 156,959.77 million towards the First and Final Call of INR 401.25 per share.The Special Committee of Directors for Rights Issue authorized the conversion, which changes the shares’ ISIN from IN9397D01014 to INE397D01024. The converted shares will rank equally with existing fully paid-up equity shares and will be available for trading on the National Stock Exchange of India Limited and BSE Limited, pending completion of formalities and receipt of necessary approvals.Following the...

HDFC Bank Confirms Receipt of Atanu Chakraborty’s Resignation HDFC Bank Limited confirmed the receipt of Mr. Atanu Chakraborty’s resignation letter as Part-time Chairman and Independent Director. The resignation letter, dated March 17, 2026, was received by the bank on March 18, 2026, at 15:17 hours (IST). This follows an earlier intimation regarding Mr. Chakraborty’s resignation made on March 18, 2026.Source:

JBF Industries Resolution Plan Rejected by NCLT JBF Industries Limited, currently under the Corporate Insolvency Resolution Process (CIRP), announced on March 18, 2026, that the Resolution Professional’s submitted Resolution Plan has been rejected by the National Company Law Tribunal (NCLT), Ahmedabad Bench.The NCLT orally pronounced the order rejecting the plan under Section 31 of the Insolvency and Bankruptcy Code, 2016. The matter has been referred back to the Committee of Creditors (COC).Mr. Mukesh Verma, Resolution Professional (Registration No: IBBI/IPA-001/IP-P01665/2019-2020/12522), conveyed the information.Source:

Kirloskar Industries Limited Updates on Subsidiary's Scheme of Arrangement and Merger Kirloskar Industries Limited announced that Kirloskar Ferrous Industries Limited (KFIL), a material subsidiary, has received an order from the National Company Law Tribunal (NCLT) Mumbai on March 17, 2026, regarding a scheme of arrangement and merger. This scheme involves the absorption of Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL), both wholly-owned subsidiaries, with Kirloskar Ferrous Industries Limited.The NCLT order directs dispensation from holding meetings of equity shareholders of OEPL, AESPL and KFIL, as well as meetings of unsecured creditors of OEPL and AESPL, and creditors of KFIL. It also...

Orchid Pharma Limited Receives Reserve Order for Dhanuka Laboratories Merger Orchid Pharma Limited has received a reserved order from the National Company Law Tribunal (NCLT) regarding the scheme of amalgamation with Dhanuka Laboratories Limited. The order was reserved for pronouncement on March 18, 2026.The amalgamation involves Dhanuka Laboratories Limited and Orchid Pharma Limited, along with their respective shareholders and creditors.Orchid Pharma Limited will provide updates to the National Stock Exchange of India Limited and the BSE Limited, as well as make the information available on the company’s website, upon receipt of the NCLT order.Manish Dhanuka, Managing Director of Orchid Pharma Limited, confirmed the development...

Suryoday Small Finance Bank Promoter Acquires 50,000 Equity Shares Suryoday Small Finance Bank Limited announced that Mr. Baskar Babu Ramachandran, the Promoter and Managing Director & CEO, purchased 50,000 equity shares through open market transactions. The acquisitions occurred in two phases: 14,000 shares on March 17, 2026, and 36,000 shares on March 18, 2026.Following this transaction, the total promoter and promoter group holding in the bank increased to 22.48%, up from 22.44%. Mr. Ramachandran’s individual holding now stands at 5.22%, an increase from 5.18%. The holding remains compliant with regulatory provisions and RBI pre-approved limits.A separate disclosure related to the Securities and Exchange Board of India...

NMDC Steel Limited Announces Appointment of Director (Finance) Nagarnar, Chhattisgarh, March 18, 2026 – NMDC Steel Limited announced the appointment of Shri Anurag Kapil as Director (Finance) on its Board, effective immediately. The appointment follows a communication from the Ministry of Steel, Government of India, dated March 18, 2026, through Order No. 14013/1/2024-BLA.Shri Anurag Kapil, currently ED (Finance) - Expenditure at the Railway Board, will serve as Director (Finance) for a period of five years or until further orders.The Ministry of Steel’s earlier order, dated March 20, 2023, stipulated that the Chairman and Managing Director, Functional Directors, and Government Directors of NMDC Limited will also serve in the same...

Petronet LNG Limited Reports Penalty Payment for Non-Compliance with Listing Regulations Petronet LNG Limited announced that it has paid a penalty related to non-compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information follows notifications received from the National Stock Exchange of India Limited and BSE Limited.The company received letters from the National Stock Exchange of India Limited, dated February 27, 2026, and from BSE Limited, via email dated February 27, 2026, regarding the non-compliance.The matter was subsequently reviewed by the Board of Directors during a meeting held on March 18, 2026, and the Board took note of the details.Source:

Euro Pratik Sales Limited Schedules Board Meeting to Consider Interim Dividend Euro Pratik Sales Limited (formerly Euro Pratik Sales Pvt. Ltd.) announced that a board meeting is scheduled for Monday, March 23, 2026. The meeting's agenda includes consideration of an interim dividend on the company’s paid-up equity shares for the financial year 2025-26.In accordance with the SEBI (Prohibition of Insider Trading) Regulations, the trading window for company securities is closed for directors and designated persons from Wednesday, March 18, 2026, and will remain closed until March 25, 2026, in relation to the proposed interim dividend declaration.Source:

Solara Active Pharma Sciences Limited Receives Income Tax Demand Notice Solara Active Pharma Sciences Limited announced on March 18, 2026, that it received a Notice of Demand under Section 156 of the Income Tax Act, 1961, from the Deputy Commissioner of Income Tax, Central Circle-3, Thane. The notice pertains to the assessment year 2019-20.The order, passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961, resulted in a Tax Demand of Rs. 161.92 Crores due to disallowance of certain expenses claimed by the Company in its Income Tax Return for Assessment Year 2019-20.The Company intends to file an appeal against the order before the concerned Appellate Authority. Solara Active Pharma Sciences believes it has...

Varun Beverages Limited Completes Acquisition of Twizza Proprietary Limited Varun Beverages Limited announced the completion of its acquisition of 100% of the share capital of Twizza Proprietary Limited on March 18, 2026. The acquisition was made through The Beverage Company Proprietary Limited, a subsidiary of Varun Beverages Limited in South Africa.The enterprise value for Twizza Proprietary Limited, post due diligence adjustments, is ZAR 2,053 million, equivalent to INR 11,398 million, based on an exchange rate of 5.55 INR per ZAR. As a result of the acquisition, Twizza Proprietary Limited has become a step-down subsidiary of Varun Beverages Limited, effective March 18, 2026.Previously, a detailed disclosure regarding this...

Crompton Greaves Consumer Electricals Receives Order from Income Tax Department Crompton Greaves Consumer Electricals Limited announced today that it has received an order from the office of the Assistant Commissioner of Income Tax, Circle-5(1)(1), Mumbai, concerning the assessment year 2019-20. The order pertains to a rectification application filed by the company.The total demand imposed, inclusive of interest, amounts to INR 4,21,07,197. The company is currently evaluating its response to the department, considering the merits of the matter, prevailing law, and advice from consultants.According to the order, the demand was raised against an alleged excess refund of tax. While the potential financial impact is quantified at INR...