Markets

Manaksia Coated Metals' Unsecured Creditors Approve Scheme of Amalgamation with JPA Snacks Pvt Ltd Manaksia Coated Metals & Industries Limited announced that its unsecured creditors approved the Scheme of Amalgamation involving JPA Snacks Private Limited. The resolution was ratified by the creditors, meeting the statutory majority required under Section 230(6) of the Companies Act, 2013.The meeting of the Unsecured Creditors for Manaksia Coated Metals & Industries Limited was held on June 9, 2026, through video conferencing (VC)/Other Audio Visual Means (OAVM). The meeting involved key personnel from the company, including Ms. Shruti Agarwal, Company Secretary, and Mr. Mahendra Kumar Bang, Chief Financial Officer, alongside attendees...

The New India Assurance Approves Revision to Dividend Record Date for FY 2025-26<p>The Board of Directors of The New India Assurance Company Limited, a Government of India Undertaking, approved a revision to the record date set for the payment of dividends. This decision was made during a Board meeting held in Mumbai on Thursday, June 25, 2026.</p><p>Previously, the company had scheduled the record date for dividend payment as September 4, 2026. Following a review and revision of the AGM schedule, the board decided to change this date. The new record date for the payment of dividends pertaining to the fiscal year 2025-26 has been set as July 10, 2026.</p><p>The Board meeting commenced at 3:30 p.m. and concluded at 5:15 p.m...

Promoter Group Entities Purchase Equity in MSP Steel & Power Limited via Open Market MSP Steel & Power Limited saw multiple promoter group entities acquiring equity shares through open market purchases. The acquisitions were carried out by Ginny Traders Private Limited, Sampat Marketing Company Pvt Ltd, and Ilex Private Limited.The companies involved in the transactions include Ginny Traders Private Limited, Sampat Marketing Company Pvt Ltd, and Ilex Private Limited. These promoter group entities purchased a combined total of over 20 lakh equity shares in MSP Steel & Power Limited during the period specified by the transactions.Details regarding the purchases made by the promoter group are presented below:Promoter EntityDate of...

Accelya Solutions Striking Off UK Subsidiary as Part of Group Restructuring Accelya Solutions India Limited has resolved to strike off Accelya Solutions UK Limited (ASUK), its wholly owned subsidiary in the United Kingdom. The move is aimed at simplifying the overall structure of the Accelya group.The Board of Directors approved the resolution, noting that ASUK was not a material subsidiary of the Company. The company stated that procedural formalities related to the voluntary winding up and striking off of ASUK will be completed according to applicable laws.ASUK recorded nil income and nil turnover during the financial year 2025-26.The details regarding the status of the UK entity and the expected timeline are as follows...

Pavan Kumar Gupta Appointed as MD & CEO of Religare Housing Development Finance Corporation Limited The board of Religare Housing Development Finance Corporation Limited (RHDFCL) has approved the appointment of Mr. Pavan Kumar Gupta as the Managing Director (MD) and Chief Executive Officer (CEO). The decision was made following a meeting held by RHDFCL's Board of Directors on June 17, 2026.Mr. Gupta is set to assume the role of MD & CEO effective July 01, 2026. However, his appointment remains subject to the approval of shareholders of RHDFCL, which is expected to be obtained in due course. The Board also approved Mr. Gupta’s joining date as June 25, 2026, during which he will serve as 'MD & CEO designate'.Religare Enterprises...

RBI Slams Nabapalli Cooperative Bank with ₹3 Lakh Penalty Over Critical KYC Failures The Reserve Bank of India (RBI) has levied a significant monetary penalty against The Nabapalli Cooperative Bank Limited, West Bengal. This action follows supervisory findings related to non-compliance with critical 'Know Your Customer (KYC)' directions issued by the central regulator.The RBI imposed the fine through an official order dated June 22, 2026. The bank has been penalized ₹3 lakh (Rupees Three Lakh only).Details of the Monetary Penalty Imposed The penalty was levied in exercise of powers vested in the RBI under the Banking Regulation Act, 1949. Specifically, the action falls under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of...

Secured Creditors Unanimously Approve Amalgamation Scheme involving Manaksia Coated Metals and JPA Snacks The Scheme of Amalgamation involving Manaksia Coated Metals & Industries Limited (the Transferee Company) and JPA Snacks Private Limited (the Transferor Company) has been approved by the Secured Creditors, according to a report submitted by Chairperson Parikshit Poddar. The resolution was passed during the meeting of the Secured Creditors held on June 9, 2026.The meeting, conducted via video conferencing or other audio visual means (VC/OAVM), included representatives from the company and its stakeholders. Shruti Agarwal, Company Secretary, joined the meeting from Kolkata, while Mr. Mahendra Kumar Bang, Chief Financial Officer...

United Heat Transfer Limited invests in Saraswat Co-operative Bank strengthening banking relationshipUnited Heat Transfer Limited (UHTL) has invested in Saraswat Co-operative Bank Limited, significantly increasing its equity shareholding in the multi state cooperative bank. The investment, which was approved by the company's Board of Directors and completed recently, is primarily aimed at bolstering UHTL’s ongoing relationship with the institution and fulfilling specific banking requirements.The company made a payment for the subscription of 5,00,000 Equity Shares in Saraswat Co-operative Bank Limited. The shares were acquired at a face value of Rs 10/- each, totaling an investment of Rs 50,00,000/- (Rupees Fifty Lakhs only).This...

Omkar Speciality Chemicals Approves Sale of Two Properties in Thane Omkar Speciality Chemicals Limited has announced that its Board of Directors approved the sale of two plots located in the MIDC Industrial Area of Badlapur, District Thane. The decision was made during a board meeting held on June 25, 2026.The company has sanctioned the disposal of properties situated within the MIDC Industrial Area. The details of the plots approved for sale are as follows:Plot NumberSize (Square Meters)LocationW 83880MIDC Industrial Area, Badlapur, District ThaneW 93720MIDC Industrial Area, Badlapur, District ThaneThe Board meeting reviewed and approved these transactions, with the company set to keep the relevant exchanges informed of...

Mittal Life Style Limited Board Approves Equity Share Consolidation at 10:1 Ratio Mittal Life Style Limited has approved a significant restructuring of its share capital, following the decision by the Board of Directors at a meeting held on Thursday, June 25, 2026. The company has opted for the consolidation of equity shares and subsequent alteration of its Memorandum of Association.The Board approved the proposal to consolidate Equity Shares in a 10:1 ratio. Under this structure, ten Equity Shares with a face value of Re. 1/- (Rupee one only) each will be consolidated into one Equity share with a face value of Rs. 10/- (Rupees Ten Only).This consolidation affects the authorized and issued capital structure of Mittal Life Style...

Hind Rectifiers Limited incorporates wholly-owned subsidiary in UAE Hind Rectifiers Limited has successfully incorporated a new entity in the United Arab Emirates. The company established Hirect Global Holdings Limited, which operates from the Dubai International Financial Centre, marking a strategic expansion into the Middle Eastern market.The incorporation of the wholly-owned subsidiary falls under the category of an investment holding company. Hirect Global Holdings Limited is structured to oversee global investments for Hind Rectifiers Limited.Key details regarding the new entity are as follows:ParticularsDetailsEntity NameHirect Global Holdings Limited (Hirect GHL)Incorporation Date and CountryJune 25, 2026, United...

Tata Communications Provides Update on Data Centre Fire Incident; Operations Remain Unaffected Tata Communications Limited has reported on the status following a fire incident that occurred at its data centre facility located in Next-Gen Tower, Greater Kailash-1, New Delhi 110048. The company confirmed it immediately activated its business continuity protocols to ensure service continuity and minimize disruption to customers relying on services from the premise.The company has been actively engaging with affected clients following the incident. It reported that a majority of customer data impacted by the fire has now been successfully recovered, although some limited cases still require further validation and rebuilding efforts...

PPAP Automotive Limited Appoints Meeta Makhan as Independent Director; Reconstitutes Key Board Committees PPAP Automotive Limited announced key changes within its board structure, appointing Mrs. Meeta Makhan as an Additional Director (Independent). The company has also revised the composition of its Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee.Mrs. Meeta Makhan was appointed as the Additional Director (Independent) effective June 25, 2026. She is set to hold office until the conclusion of the Annual General Meeting and as an Independent Director subject to shareholder approval for a term spanning two consecutive years, up to June 24, 2028.Experienced Leader Appointed to PPAP Board...

JHS Svendgaard Laboratories Approves Modification to Preferential Issue Proceeds Utilization JHS Svendgaard Laboratories Limited has approved a modification and clarification regarding the utilization of proceeds raised through its preferential issue, subject to shareholder approval. The Board of Directors confirmed the change, which is intended to provide greater flexibility in deploying funds towards capital expenditure, business expansion, strategic investments, and growth initiatives while achieving the original fundraising objectives.The Company’s board meeting addressed the variation in the use of the funds previously approved by shareholders via Postal Ballot on June 23, 2025. The original approval for raising funds through the...

RBI Slams ₹1 Lakh Penalty on Modern Co-operative Bank After Major KYC and Exposure Limit Breaches The Reserve Bank of India (RBI) has imposed a significant monetary penalty on The Modern Co-operative Bank Limited, Chalisgaon. The action addresses serious non-compliance found by the regulator concerning exposure norms and mandatory Know Your Customer (KYC) procedures at the institution.In line with regulatory oversight, RBI issued the penalty order dated June 23, 2026. The bank has been fined ₹1 lakh (Rupees One Lakh only). This penalty was levied under powers granted by Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.Key Regulatory Breaches Identified by RBI The penalty stems from supervisory...

Frog Innovations Limited Announces Book Closure Ahead of Annual General Meeting Frog Innovations Limited has announced that the Register of Members and Share Transfer Books will be closed for a specific period ahead of its upcoming Annual General Meeting (AGM). The company confirmed the details regarding the meeting and related operational schedules.The AGM is scheduled to be held on Wednesday, July 22, 2026, at 03:30 P.M. (IST), which will be conducted through video conferencing or other audio visual means (OAVM).To facilitate the smooth conduct of the Annual General Meeting, the company specified a dedicated period for book closure and voting procedures.Key dates related to the AGM and share transfer processes are as follows...

Indiabulls Board Grants 30,09,036 Stock Options Under Employee Scheme The Compensation Committee of the Board of Directors of Indiabulls Limited has granted a significant tranche of stock options under the 'Indiabulls Limited Employee Stock Option Scheme - 2025.' The decision was made during a meeting held on June 25, 2026.The company granted 30,09,036 stock options to employees. These options represent an equal number of fully paid-up equity shares, each having a face value of Rs. 2/-. The exercise price set for these options is Rs. 26 per share. This decision was based on the latest available closing market price on the National Stock Exchange of India Limited as of June 25, 2026, which was Rs. 25.75.The terms of the granted stock...

Rajshree Sugars & Chemicals Announces Book Closure and Details for 40th Annual General Meeting Rajshree Sugars & Chemicals Limited has announced the book closure period for its equity shares in connection with the upcoming 40th Annual General Meeting (AGM). The company provided details regarding the schedule, voting periods, and meeting logistics.The book closure for the equity shares of Rajshree Sugars & Chemicals Limited is scheduled from July 17, 2026, to July 23, 2026, inclusive. This action relates to the scheduling of the company's annual gathering.The 40th Annual General Meeting is set to take place on Thursday, July 23, 2026, at 11:00 AM. The meeting will be conducted through Video Conferencing or other Audio-Visual Means...

Astral Approves Composite Scheme of Arrangement Involving Demerger and Amalgamation Astral Limited has approved a strategic move involving a Composite Scheme of Arrangement that includes both a demerger and an amalgamation among its three companies: Astral Limited, Astral Chemie Limited, and Al-Aziz Plastics Private Limited. The restructuring aims to enhance specialized focus and operational efficiency across the company’s different business verticals.The Board meeting held on June 25, 2026, approved the Scheme, which encompasses the demerger of the Chemicals Business Undertaking from Astral Limited into its subsidiary, Astral Chemie Limited, along with the amalgamation of Al-Aziz Plastics Private Limited into Astral Limited. The...

Sun Pharma Advanced Research Company Terminates License Agreement with CMS Bridging DMCC Sun Pharma Advanced Research Company Limited has announced the mutual termination of a License Agreement with CMS Bridging DMCC (CMS). The agreement, which was originally executed on November 05, 2019, concluded on June 25, 2026.The License Agreement focused on the development and commercialization of several products in Mainland China, Hong Kong, Macao, and Taiwan. These products included Xelpros TM, Elepsia TM, Taclantis TM, PDP-716, and SDN-037.The company stated that there is no material impact on its financial position, operations, or other activities following the termination of the agreement with CMS Bridging DMCC.Key details regarding...