Markets

Velan Hotels Ltd. Settles Dispute with Mohan Clothing Company Pvt Ltd. Velan Hotels Limited announced a resolution to its ongoing legal dispute with Mohan Clothing Company Pvt Ltd through an amicable, out-of-court settlement. The agreement effectively closes the appeal case initiated in response to an arbitration award.Previously, an arbitration award had mandated Velan Hotels to refund Rs. 9.82 lakh in interest-free security deposit, alongside an additional claim of Rs. 22.79 lakh for fit-out and interior works, including 9% interest, and Rs. 1.00 lakh for damages and proceedings costs.As part of the settlement, Velan Hotels Limited paid Rs. 20.00 lakh to Mohan Clothing Company Pvt Ltd, which addresses a claim of Rs. 33.61 lakh...

WeWork India Receives Order Regarding Input Tax Credit Allegations WeWork India Management Limited received an Order-in-Original from the Additional Commissioner, CGST Gurugram Commissionerate, Gurugram, under the Central Goods and Services Tax Act, 2017, the Haryana Goods and Services Tax Act, 2017, and the Integrated Goods and Services Tax Act, 2017. The order pertains to the period from April 2019 to March 2023 and concerns alleged excess availment and utilization of Input Tax Credit (ITC).The Order details the following financial implications:ParticularsDetailsIGST Demand₹ 1,37,07,208CGST Demand₹ 6,03,32,708SGST Demand₹ 6,03,32,708IGST Penalty₹ 1,37,07,208CGST Penalty₹ 6,03,32,708SGST Penalty₹ 6,03,32,708...

Oil India and CSIR-IMMT Collaborate on Critical Minerals Research Noida, India – March 30, 2026 – Oil India Limited (OIL), a Maharatna PSU, and the Council of Scientific and Industrial Research – Institute of Minerals and Materials Technology (CSIR-IMMT) have signed a Memorandum of Understanding (MoU) to collaborate on joint research and development projects focused on critical minerals. The signing occurred on March 30, 2026.CSIR-IMMT has been designated as the Centre of Excellence for Critical Minerals under the National Critical Mineral Mission (NCMM).The MoU was signed by the Director (Exploration & Development) of OIL and the Director of CSIR-IMMT, witnessed by OIL’s Chairman and Managing Director and attended by Functional...

Bilcare Limited Redeems Preference Shares, Converts Warrants, and Completes Subsidiary Liquidation Bilcare Limited announced several key corporate actions on March 30, 2026. The company redeemed 31,50,000 0.1% Non-cumulative, Non-participating Redeemable Preference Shares of Caprihans India Limited on March 23, 2026, amounting to ₹3.15 crore.The company also converted 12,90,000 warrants into equity shares of Caprihans India Limited. A table outlining the allotment details is below:Date of AllotmentNumber of Equity Shares allottedEquity Shares held prior to allotment% to total Equity Share CapitalEquity Shares held after allotment% to total Equity Share Capital20/03/20263,00,00081,88,32555.9984,88,32556.88...

Torrent Power Sells Shares in UNM Foundation to Torrent Investments Torrent Power Limited announced the sale of 50,000 equity shares in UNM Foundation (a Section 8 Company) to Torrent Investments Limited, its holding company, on March 30, 2026. The transaction, completed at 5:40 PM, involved a total consideration of ₹5,00,000.UNM Foundation, being a Section 8 company, does not generate revenue or turnover. Torrent Investments Limited is both a buyer and a promoter of Torrent Power Limited, making the transaction a related party transaction conducted at arm's length. No agreement for sale was entered into due to the shares being sold to the holding company.Transaction Details:Particulars DetailsConsideration Received ₹5,00,000...

Innovision Ltd. Receives Tax Demand Order Innovision Ltd. announced today, March 30, 2026, that it received an order from the Additional Commissioner, CBIC, Jurisdiction - Dehradun, Meerut, dated March 20, 2026. The order, issued under Section 74 of the Central Goods and Services Tax Act, 2017, demands recovery of tax and penalties totaling Rs 20,98,11,480 for the tax periods of fiscal years 2019-20 and 2023-24, stemming from a dispute raised by the department in filed GSTR returns.The company is currently evaluating the order and intends to challenge the demand and penalty before the appropriate authority. Innovision Ltd. believes the demand is not sustainable and will not have a material impact on its financial position, operations...

John Cockerill India Defers Annual General Meeting Date John Cockerill India Ltd. announced on March 30, 2026, that the Board of Directors deferred the decision regarding the date, time, and venue for the company’s Annual General Meeting (AGM). The board meeting, which commenced at 6:07 PM and concluded at 7:00 PM, was convened to finalize these details and approve the notice convening the AGM.The company stated that the date of the AGM will be considered and approved at a later date, and the Stock Exchange will be informed accordingly. The scrip code for John Cockerill India Ltd. is 500147 on the BSE Limited.Source:

Novelix Pharmaceuticals Allots Shares, Announces Director Resignation Novelix Pharmaceuticals Ltd. announced the allotment of 11,50,000 equity shares following the conversion of warrants. The company received Rs. 1,72,50,000.00 from the allotment, which represents 75% of the issue price per share. This conversion increases the company’s paid-up equity capital from Rs. 1,99,35,000.00 to Rs. 2,10,85,000.00. The shares were allotted to SRINIDHI FINE-CHEMICALS LLP (11,00,000 shares) and NARAHARI BELIDE (50,000 shares). The issue price was Rs. 20 per share, with a face value of Rs. 10 each.The company also announced the resignation of Mr. Jivamohan Divakar Valluri (DIN: 09218013) as a Non-Executive Director, effective March 30, 2026, due...

Quest Flow Controls Ltd. Announces Disinvestment of Subsidiary Stake Quest Flow Controls Limited (formerly Meson Valves India Limited) announced on March 30, 2026, that its Board of Directors has approved the divestment of its entire stake in subsidiary, H2O DYNAMICS INDIA LIMITED. The decision was made at a board meeting held on March 30, 2026, which commenced at 5:30 P.M. and concluded at 6:00 P.M.The transaction involves the sale to Stellarin Research and Development Private Limited, a company incorporated under the Companies Act, 2013, with Corporate Identification Number U37100CT2016PTC002159.Key details of the transaction are summarized below:ParticularsDetailsNet revenue and net worth contribution (FY 24-25)Net revenue...

MIC Electronics Limited Announces Acquisition of Neo Semi SG Pte. Ltd. and Other Corporate Actions MIC Electronics Limited announced several key corporate developments following a board meeting held on March 30, 2026. The company approved the acquisition of 71,72,090 equity shares (89.65%) of M/s. Neo Semi SG Pte. Ltd., a Singapore-based deep-tech platform company, for a total consideration of ₹357.60 Cr. This consideration includes a cash component of ₹122.26 Cr. and a non-cash component through share swap of ₹235.34 Cr. The acquisition requires shareholder approval at an Extraordinary General Meeting (EGM) scheduled for April 29, 2026.MIC Electronics Limited also approved the issue and allotment of up to 5,68,73,418 fully paid-up...

Bank of India Announces Rate Adjustments Effective April 1, 2026 Bank of India announced changes to its lending rates and base rate, effective April 1, 2026. The Marginal Cost of Fund based Lending Rate (MCLR) and Repo Based Lending Rate (RBLR) remain unchanged.The current MCLR is 8.75%. The overnight MCLR will be 7.70%, the 1-month MCLR 8.05%, the 3-month MCLR 8.20%, the 6-month MCLR 8.60%, the 1-year MCLR 8.75%, and the 3-year MCLR 8.90%.Here's a table summarizing the MCLR rates:Rate effective fromOvernight MCLR1 Month MCLR3 Month MCLR6 Month MCLR1 Year MCLR3 Year MCLR01.04.20267.70%8.05%8.20%8.60%8.75%8.90%Adjustments were also made to the Fixed Rate Spread, effective April 1, 2026. The rate of interest for tenors of 1...

Punjab National Bank Maintains Interest Rates for April 2026 Punjab National Bank (PNB) announced today, March 30, 2026, that its Marginal Cost of Funds Based Lending Rates (MCLR) will remain unchanged effective April 1, 2026. The bank's Repo linked Lending Rate (RLLR) and Base Rate also remain unchanged.The table below details the existing and upcoming MCLR rates:MCLR TenorExisting Rate (as of March 1, 2026)Rate Effective April 1, 2026Overnight7.95%Three Months8.20%Six Months8.40%8.40%One Year8.60%Three Years8.75%Five Years9.05%9.05%The bank’s RLLR stands at 8.10% (including BSP) while the Base Rate remains at 9.50%.Source:

Kotak Mahindra Bank Remits Interest Payments to Bondholders March 30, 2026 – Kotak Mahindra Bank Limited announced today the payment of interest to its bondholders. The interest payment relates to the 8.25% Senior Unsecured Redeemable Long Term Bonds in the nature of Non-Convertible Debentures.The total interest amount disbursed was Rs. 12.3750 crore. The payment was made on March 30, 2026, as per the scheduled due date.Details regarding the interest payment are presented below:ISINDue date for Payment of InterestActual Date of PaymentInterest amount (Rs. in crore)INE237A08940March 30,2026*March 30, 2026Rs. 12.3750The record date for the interest payment was March 13, 2026. The interest is paid on an annual basis...

Sir Shadi Lal Enterprises Ltd. Faces Penalty for Income Tax Assessment Year 2015-16 Sir Shadi Lal Enterprises Ltd. has disclosed receiving a penalty order from the Assessment Unit, Income Tax Department, related to the Assessment Year 2015-16. The company faces a penalty of Rs. 1,73,82,167 under Section 271(1)(c) of the Income Tax Act, 1961, for alleged inaccurate particulars of income.The penalty arises from an assessment order dated December 30, 2017, where the company declared a loss of Rs. 44,00,50,224. A subsequent assessment determined an income of Rs. 16,81,14,632, including an addition of Rs. 27,09,95,865 and Rs. 9,39,727. The company contested the assessment, and while some additions were later revised by the Income Tax...

Prithvi Exchange (India) Ltd. Expands Presence with New Branch in Lucknow Prithvi Exchange (India) Limited has announced the opening of a new branch in Lucknow, Uttar Pradesh, marking an expansion of its service network. The branch is located at B-310, Sahara Plaza, 1st Floor, Gomti Nagar, Lucknow, Uttar Pradesh - 226 010.The company stated its intention to provide forex services within a technologically updated environment, aiming to deliver optimal service to clients. Prithvi Exchange also indicated plans to continue expanding its network with additional branches across the nation. The announcement was made on March 30, 2026.Source:

Prithvi Exchange (India) Ltd. Expands Presence with New Branch in Gurugram Prithvi Exchange (India) Ltd. has opened a new branch in Gurugram, Haryana, as part of an ongoing expansion strategy. The branch is located at Shop No. F-102, First Floor, Sapphire Ninety, Sector-90, Gurugram, Haryana-122 505.The company stated it aims to offer foreign exchange services in a modern, technologically updated environment and to provide clients with the best possible service. Prithvi Exchange intends to expand its presence across the nation by opening additional branches in the future.Source:

H.G. Infra Engineering Ltd. to Dissolve Eight Subsidiary Solar Projects H.G. Infra Engineering Ltd. announced on March 30, 2026, that eight step-down wholly owned subsidiaries have obtained shareholder consent for voluntary dissolution and will apply to the Registrar of Companies in Jaipur for strike-off. The subsidiaries are H.G. Nagaur Solar Project Private Limited, H.G. Behror Solar Project Private Limited, H.G. Bhilwara Solar Project Private Limited, H.G. Bhiwadi Solar Project Private Limited, H.G. Ghiloth Solar Project Private Limited, H.G. Kota Solar Project Private Limited, H.G. Tapukara Solar Project Private Limited, and H.G. Tijara Solar Project Private Limited.The companies were incorporated between May 28, 2024, and June 3...

Thomas Cook (India) Ltd. Resolves Income Tax Dispute Thomas Cook (India) Limited announced on March 30, 2026, that it received an order from the Office of the Deputy Commissioner of Income Tax Circle 1(3)(1), Mumbai, resolving a pending dispute related to a demand of Rs. 159.5 million pertaining to assessment year 2018-19.The resolution of the demand has no impact on the financial operations or other activities of the company.Details of the Order The order, issued under Section 143(3) read with Section 254 of the Income-tax Act, 1961, concluded the dispute.ParticularsDetailsAuthorityOffice of the Deputy Commissioner of Income Tax Circle 1(3)(1), MumbaiNature of ActionOrder u/s 143(3) r.w.s. 254 of the Income-tax Act, 1961...

Ventive Hospitality Acquires Stakes in Narmada Estates and Sun Leisure (India) Ventive Hospitality Limited announced on March 30, 2026, that its material subsidiary, Panchshil Corporate Park Private Limited, acquired a 50.02% stake in Narmada Estates Private Limited. Additionally, the company's subsidiary, Soham Leisure Ventures Private Limited, acquired a 100.00% stake in Sun Leisure (India) Private Limited - SOL DE GOA.Narmada Estates Private Limited was incorporated on March 22, 1993, and owns a land parcel near The Ritz-Carlton, Pune. As of March 31, 2025, its authorized capital was ₹5,00,000 divided into 5,000 equity shares of ₹100 each, with a paid-up capital of ₹1,00,000 divided into 1,000 equity shares of ₹100 each. The...

Religare Enterprises Subsidiary Receives Stay Order from Bombay High Court Religare Enterprises Limited announced on March 30, 2026, that Care Health Insurance Limited (CHIL), a material subsidiary, has received a stay order from the Hon'ble Bombay High Court. The order pertains to a writ petition filed against an order-in-original issued by the Office of the Assistant Commissioner of Goods and Services Tax, Faridabad, concerning the SEZ matter for the period July 2017 to March 2024.The original order raised a Goods and Services Tax (GST) demand of Rs. 17,68,26,837 with interest and imposed a penalty of Rs. 17,68,26,837. The matter relates to industry-wide issues.CHIL received the order from its tax advisors on March 28, 2026...