Markets

R R Kabel Limited Receives Re-assessment Orders from Income Tax Department R R Kabel Limited announced it received Re-assessment Orders from the Office of the Deputy Commissioner of Income Tax concerning Assessment Years 2018-19, 2019-20, and 2021-22. The communication was received on March 24, 2026, for AY 2018-19 and AY 2019-20, and March 23, 2026, for AY 2021-22.The Income Tax Department’s orders indicate a demand of ₹66.58 Crores, including ₹42.27 Crores in interest, due to additions and disallowance of expenditures under various sections of the Income Tax Act.R R Kabel Limited stated it believes the demand is higher due to computational errors in one of the reassessment orders and intends to file rectification under section 154...

RKEC Projects Limited Receives New Work Order from National Highways Authority of India RKEC Projects Limited announced on March 25, 2026, that it has been awarded a work order by the National Highways Authority of India (NHAI). The project involves the balance work of a new bridge on the Gandak river, including approaches, and the rehabilitation of existing Gandak Bridge and Mahi Bridge. The project is situated on the Chappara-Hajipur section of NH-19 in Bihar and will be executed on an Engineering, Procurement, and Construction (EPC) mode.The value of the awarded work order is Rs. 40.50 Crore. The company stated that this order falls within its ordinary course of business.For further information, contact: M: 0891-2574517 Tele Fax...

HMT Limited Appoints N. Ramesh Kumar as Chairman and Managing Director (Additional Charge) HMT Limited announced that N. Ramesh Kumar, Executive Director (SBD) of Bharat Heavy Electricals Limited (BHEL), has been appointed as the Additional Charge of Chairman and Managing Director, effective March 25, 2026. The appointment was approved by the Ministry of Heavy Industries, Government of India, through an order dated March 24, 2026.This appointment is for a period of one year or until a regular incumbent joins, whichever occurs first, and is subject to the approval of the Appointment Committee of the Cabinet (ACC).The company is currently completing the necessary appointment formalities in accordance with the Companies Act, 2013 and...

Cummins India Limited Receives Favorable Order from CIT(A) Regarding Assessment Year 2014-15 Pune, March 24, 2026 – Cummins India Limited announced today that the Commissioner of Income Tax (Appeals) (CIT(A)) has issued a favorable order dated March 23, 2026, concerning an appeal filed against an assessment order for the assessment year 2014-15.The CIT(A)’s order grants relief to the company regarding additions totaling INR 8.38 Crores, resulting in a tax impact of INR 2.85 Crores, which the company is expected to receive.The details of the favorable order are as follows:Sr. No.Particular(s)Information of such event(s)1aName of opposing partyIncome Tax Department1bCourt/ tribunal/agencyCommissioner of Income Tax (Appeals)...

United Spirits Limited Announces Sale of Royal Challengers Sports Stake for INR 166.6 Billion United Spirits Limited (USL) announced on March 24, 2026, that its Board of Directors approved the sale of 14,690 equity shares of Royal Challengers Sports Private Limited (RCSPL) for an aggregate consideration of INR 166.6 billion. The transaction is subject to adjustments and conditions outlined in a Share Purchase Agreement (SPA) executed on March 24, 2026.The buyers are Bolt IPL Holdings LLC, Aelius Investments Pte Ltd, Asia Investment Topco II Pte. Ltd., Times Internet Limited, and Metropolitan Media Company Limited. Upon completion, USL will cease to hold any shareholding in RCSPL, and RCSPL will no longer be a subsidiary of USL. RCSPL...

Sammaan Capital Limited Receives RBI Approval for Proposed Acquisition Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, announced on March 24, 2026, that it has received approval from the Reserve Bank of India (RBI) for a proposed acquisition of a controlling stake. The acquisition is being pursued by Avenir Investment RSC Ltd, which is owned and controlled by International Holding Company PJSC.The RBI’s approval, conveyed in a letter dated March 24, 2026, covers the applications made by Sammaan Capital Limited and its wholly-owned subsidiary, Sammaan Finserve Limited (formerly Indiabulls Commercial Credit Limited), regarding the transaction and related indirect change of control of Sammaan Finserve...

Smarten Power Systems Limited Receives ESC National Export Excellence Award 2026 New Delhi, March 24, 2026 – Smarten Power Systems Limited has been recognized with the ESC National Export Excellence Award 2026 by the Electronics and Computer Software Export Promotion Council (ESC).The company secured the first position within the “Solar Power Systems / Equipment (MSME)” category, according to ESC’s evaluation criteria. The award presentation took place on March 23, 2026, at Bharat Mandapam in New Delhi. Representing Smarten Power Systems were Rajnish Sharma, Whole-Time Director and Chief Executive Officer, and Tirath Singh Khaira, Whole-Time Director.Smarten Power Systems Limited, incorporated in 2014 and headquartered in Gurgaon...

IIRM Holdings India Ltd. Schedules Board Meeting to Consider Corporate Guarantee and Potential Fundraising IIRM Holdings India Ltd. (formerly Sudev Industries Limited) announced it will hold a Board of Directors meeting on Saturday, March 28, 2026. The meeting’s agenda includes the consideration and approval of providing a corporate guarantee to India Insure Risk Management and Insurance Broking Services Private Limited, a wholly-owned subsidiary. The Board will also discuss potential fundraising from eligible investors.Furthermore, the company has closed its trading window for securities dealings among designated individuals, insiders, connected persons, and their immediate relatives, and this closure will remain in effect until 48...

Interarch Building Solutions Acquires Industrial Land in Gujarat Interarch Building Solutions Limited announced the completion of an industrial land acquisition in Gujarat on March 24, 2026. The company purchased freehold industrial land measuring approximately 52,855 square meters.The land is located at Block/Survey No. 276 (Old Survey No. 173-A-1/Paiki 1), City Survey No. NA 276, Mouje Viroja, Taluka: Matar, Kheda, Gujarat, India. The acquisition was made through a registered Sale Deed.The total consideration for the land amounted to ₹5,81,40,500, excluding stamp duty and registration fees. The land will be used for setting up or expanding the company's industrial and operational facilities. Mr. Iqbalbhai Husenbhai Shaikh was the...

Simran Farms Ltd. Announces Board Meeting and Share Allotment Simran Farms Ltd. announced a board meeting scheduled for March 30, 2026, at the company's registered office in Indore, Madhya Pradesh. The meeting will address several key matters, including the allotment of equity shares and approval for a postal ballot.During the meeting, the Board will consider and approve the allotment of 10,18,300 equity shares with a face value of Rs. 10 each. This allotment follows the conversion of 10,18,300 share warrants, upon receipt of the remaining 75% of the consideration amount, to members of the promoter group and other non-promoter entities.The Board will also approve the Notice of postal ballot, accompanied by an Explanatory Statement...

IIRM Holdings India Ltd. Acquires Stake in Saferisk Insurance Brokers Private Limited IIRM Holdings India Limited (formerly Sudev Industries Limited) announced the acquisition of equity shares in Saferisk Insurance Brokers Private Limited by its wholly-owned subsidiary, India Insure Risk Management and Insurance Broking Services Private Limited. The acquisition, disclosed on March 24, 2026, follows prior communications dated July 31, 2025, and October 30, 2025.Saferisk Insurance Brokers Private Limited, incorporated on December 1, 2014, is an insurance broking firm based in Bhubaneswar. Its turnover for the fiscal year 2024-25 was ₹27.78 crore, with a net worth of ₹1 crore. The company’s turnover for 2023-24 and 2022-23 was ₹33.82...

Asian Paints Limited Approves Scheme of Amalgamation for Subsidiaries Asian Paints Limited announced on March 24, 2026, that the Boards of Directors of Harind Chemicals and Pharmaceuticals Private Limited and Nova Surface-Care Centre Private Limited have approved a Scheme of Amalgamation. Under the scheme, Nova will be merged with Harind.Nova Surface-Care Centre Private Limited was incorporated on September 7, 2011, while Harind Chemicals and Pharmaceuticals Private Limited was incorporated on June 6, 1995. Nova is a wholly-owned subsidiary of Harind, and Asian Paints Limited holds a 51% stake in Harind.The amalgamation is not expected to have a material impact on the financials of Asian Paints Limited. The transaction is considered...

Interise Trust Appoints Neera Saggi for Second Term as Independent Director Interise Trust announced the reappointment of Ms. Neera Saggi as an Independent Director for a second term of five years. The decision, approved by the Board of Directors of Interise Investment Managers Private Limited, the Investment Manager (IM) to Interise Trust, follows the conclusion of Ms. Saggi’s first five-year term, which ended on March 23, 2026.Ms. Saggi’s new term will commence on March 24, 2026, and extend through March 23, 2031, pending approval from the shareholders of Interise Investment Managers Private Limited. Ms. Saggi's Director Identification Number (DIN) is 00501029.The reappointment was preceded by Ms. Saggi’s consent, declarations...

Indrayani Biotech Ltd. Announces Departure of Whole-Time Director Indrayani Biotech Ltd. announced today, March 24, 2026, that Mr. Singarababu Indirakumar has resigned from his position as Whole-time Director, effective March 24, 2026.Mr. Indirakumar's departure is attributed to professional reasons. He had previously submitted his resignation on March 16, 2026, and formally notified the Registrar of Companies.Here’s a summary of the details regarding Mr. Indirakumar’s resignation:S. NoParticularsDetails1NameMr. Singarababu Indirakumar2DIN008923513DesignationWhole-time Director4Reason For Change Viz. Appointment Resignation, Removal, Death or OtherwiseResignation from the Position of Director on the Board of the...

Mysore Paper Mills Ltd. Adjusts Board Meeting Time Mysore Paper Mills Ltd. announced a further adjustment to its upcoming board meeting. The meeting, previously scheduled for 3:00 PM and then pre-poned to 12:30 PM, will now be held at 11:00 AM on March 25, 2026.The rescheduling is attributed to the availability of the Chairman, who is attending the Adhiveshana of the Government of Karnataka. The agenda for the meeting remains unchanged.The company's registered office is located at No 32, 5th Floor, Karnataka State Co-operative Federation Ltd.,'s Building, D Devara Urs Road, Bengaluru – 560 001. Contact information includes telephone numbers 080 - 22266978/22255459 and fax number 080 - 22253478. The company website is www.mpm.co.in...

Jost’s Engineering Company Limited Approves Divestment of Joint Venture and CFO Appointment Jost’s Engineering Company Limited announced that its Board of Directors approved the divestment of 50% of its equity investment in its Joint Venture, Suryavayu Renewable and Energy Solutions Private Limited (SRESPL), to Kay Cee Energy & Infra Limited. The transaction will occur at a fair market value of INR 4.124 per share. Following the divestment, SRESPL will cease to be a joint venture.Additionally, the Board approved the incorporation of a wholly-owned subsidiary in India, intended to leverage future growth opportunities.The company also announced the resignation of Mr. Pranesh Bhandari from the post of Chief Financial Officer and Key...

HMT Limited Announces Departure of Rajesh Kohli as Chairman & Managing Director HMT Limited announced that Rajesh Kohli will step down from his role as Chairman & Managing Director (Additional Charge) on March 25, 2026. This follows an extension of his term, initially entrusted by the Ministry of Heavy Industries on June 26, 2025, to cover the period beyond June 30, 2025, until March 24, 2026, or until a permanent replacement is appointed.Kohli, who held the additional charge from Bharat Heavy Electricals Limited, will cease to hold the position upon reaching his age of superannuation within BHEL. Kishor Kumar S, AGM (Company Secretary), signed off on the notification.Source:

Kotak Mahindra Bank to Integrate Kotak Mahindra Investments’ Business Activities March 24, 2026 – Kotak Mahindra Bank Limited announced today that the business activities of Kotak Mahindra Investments Limited (KMIL), a wholly-owned subsidiary, will be conducted departmentally within the Bank, effective April 1, 2026. This decision aligns with the Reserve Bank of India (RBI) (Commercial Banks - Undertaking of Financial Services) Directions, 2025, and aims to simplify group operations and enhance synergies.KMIL’s Board of Directors approved that the company will cease sanctioning new loans from April 1, 2026, and will continue servicing existing facilities and fulfilling obligations under facility agreements executed prior to March 31...

Expleo Solutions Limited Settles Tax Arrears, Granted Immunity Chennai, March 24, 2026 – Expleo Solutions Limited announced today that it has settled tax arrears for Assessment Year 2012-13 with the Principal Commissioner of Income Tax 1, Chennai. The settlement was finalized through an order issued on March 20, 2026, and received by the company on March 24, 2026.Under the Vivad SeVishwas Scheme, 2024, the company paid a sum of Rs. NIL towards the full and final settlement of the tax arrears and was granted immunity against a disputed tax amount of INR 49,59,847. The immunity was formalized through the issuance of Form 4.The situation arose due to the disallowance of certain professional expenses related to non-deduction of TDS for...

Sanathan Textiles Subsidiary Acquires Stake in Serentica Renewables Mumbai – Sanathan Textiles Limited announced that its wholly-owned subsidiary, Sanathan Polycot Private Limited (SPPL), has entered into a Share Subscription and Shareholders' Agreement (SSSHA) and a Power Supply and Consumption Agreement (PSCA) to acquire a 26% stake in Serentica Renewables India 33 Private Limited. Serentica Renewables India 33 Private Limited is a subsidiary of Serentica Renewables India Private Limited.The acquisition, valued at Rs. 48 Crores, is intended to secure a contracted capacity of 32 MW of renewable power for SPPL’s manufacturing operations. The transaction is subject to customary conditions precedent and regulatory approvals and is...