Order & deals

Coal India Secures Major Clean Energy Project Coal India Limited (CIL) has received a Letter of Award (LoA) to set up a large-scale battery energy storage system (BESS) in Telangana, marking a significant step in its clean energy expansion strategy.The project has been awarded by Telangana Power Generation Corporation Limited and will be developed at Choutuppal.Project Details and CapacityTotal Capacity: 750 MWh Power Output: 187.5 MW for four hours Project Cost: Rs 1,057.09 croreThis large-scale BESS project will enhance grid stability and support renewable energy integration in the region.Timeline and Execution Plan Coal India aims to complete the project within 18 months from signing the Battery Energy Storage Purchase...

Minda Corporation Receives Assessment Order for Fiscal Year 2022-23 Minda Corporation Limited announced it received an Assessment Order under Section 143(3) of the Income Tax Act, 1961, from the Office of the Assistant Commissioner of Income Tax, Central Circle-13, Delhi, on March 28, 2026.The order pertains to the financial year 2022-23 and includes additions and disallowances to the income reported by the company. The total demand resulting from the order is ₹670,906,417, encompassing ₹177,592,875 in interest.Minda Corporation is currently reviewing the Assessment Order with its tax and legal advisors and intends to contest the matter through appropriate appellate authorities. The company stated that the Assessment Order will have...

ACME Solar Holdings Ltd. Receives Show-Cause Notice Regarding GST Demand Mumbai – March 29, 2026 – ACME Solar Holdings Ltd. (BSE: 544283, NSE: ACMESOLAR) announced today that it has received a Show-Cause cum Demand Notice (SCN) dated March 23, 2026, from the Office of the Directorate General of Goods & Services Tax Intelligence in Jaipur, Rajasthan.The notice, received on March 28, 2026, alleges a short payment of Goods and Services Tax (GST) related to the supply of goods and services connected to solar power generating systems. The alleged GST demand aggregates to approximately Rs. 149.73 Crores for the period April 2021 to March 2025, along with applicable interest and penalty.ACME Solar Holdings Ltd. is currently reviewing the...

NCLAT Upholds NCLT’s Power to Unfreeze Demat Accounts During Insolvency NCLAT Dismisses BSE Appeals on Jurisdiction Issue The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals filed by Bombay Stock Exchange (BSE), affirming that the National Company Law Tribunal (NCLT) has the authority to order the unfreezing of Demat accounts during insolvency proceedings.The appellate tribunal ruled that the NCLT acted within its jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), validating its earlier orders.NCLT Has Jurisdiction Under IBC Section 60(5) The NCLAT bench clarified that the NCLT is empowered to handle matters related to insolvency, including applications to unfreeze Demat accounts of...

Entertainment Network (India) Limited Receives Income Tax Assessment Order Entertainment Network (India) Limited announced on March 29, 2026, that it received an income tax assessment order from the Assessment Unit of the Income Tax Department. The order, dated March 27, 2026, pertains to the Assessment Year 2024-25 (Financial Year 2023-24) and levies a tax demand of Rs. 113.20 Crore, including applicable interest.The company received the order and associated demand notice on March 28, 2026, at 12:46 P.M. Entertainment Network (India) Limited stated that it is currently evaluating the order and does not concur with the adjustments made, stating the company believes it has adequate legal and factual grounds to contest the assessment...

Precision Electronics Limited Receives Order Regarding Tax Dispute Precision Electronics Limited announced on March 28, 2026, that it received an order from the Office of the Assistant Commissioner of Central Goods and Service Tax, Roorkee Division, Haridwar. The order, received on March 27, 2026, concerns a review of the company's operations for the period April 2019 to March 2021.The order details several issues, including an inadmissible Input Tax Credit of Rs. 7,01,789 (IGST), Rs. 15,49,038 in IGST related to the import of services, and Rs. 71,192 (CGST Rs. 35,596 + SGST Rs. 35,596) pertaining to electricity charges. The total tax demand amounts to Rs. 23,22,019, accompanied by a penalty of Rs. 23,22,019 and applicable interest...

Escorts Kubota Limited Faces Tax Demand Following Portal Technical Issue Escorts Kubota Limited announced that the State Tax Officer of GST, Bhopal Division-1, Madhya Pradesh, confirmed a tax demand of 10,02,652 Rupees along with applicable interest and a penalty of 10,02,652 Rupees. The assessment stems from the generation of duplicate E-way bills attributed to a technical bug on the portal.The incident occurred on March 28, 2026, at 2:07 PM (IST). The company intends to file an appeal before the appellate authority regarding the matter. The tax demand is expected to impact the company’s financial activities.Below is a summary of the details released:ParticularsDetailsName of the authorityState Tax Officer of GST, Bhopal...

NTPC Group’s Installed Capacity Reaches 88,889 MW Following Renewable Energy Project Commissioning NTPC Ltd. announced that its subsidiary, NTPC Green Energy Limited (NGEL), has declared the commencement of operations (COD) for two additional capacity blocks within its renewable energy portfolio.The third and final 75 MW capacity block of the 500 MW Bhadla Solar PV Project in Phalodi, Rajasthan, began operations on March 25, 2026. Subsequently, the fifth 105 MW capacity block of the 1200 MW Khavda-II Solar PV Project in Gujarat commenced operations on March 29, 2026. NTPC Renewable Energy Limited, a step-down subsidiary of NTPC Limited, is the entity responsible for these projects through NGEL.As a result of these milestones, the...

NHPC Limited Receives Income Tax Demand Notice, Increases Stake in Ratle Hydroelectric Power Corporation NHPC Limited announced on March 28, 2026, that its subsidiary, NHDC Limited, has received an income tax demand notice of 231.78 crore from the Income Tax Department. This demand includes interest of 45.31 crore. The notice was issued on March 27, 2026, following an assessment order for the Assessment Year 2024-25 passed by the Income Tax Department’s Faceless Assessment Unit on March 26, 2026.NHDC Limited is initiating a process to file an application under section 154 to rectify a mistake in the computation of income tax liability, specifically regarding the consideration of eligible MAT credit. The company regularly claims MAT...

CMS Info Systems Acquires ATM Management Solutions Business from Financial Software and Systems CMS Info Systems Limited announced March 28, 2026, that its Board of Directors has approved the acquisition of ATM management assets and customer contracts from Financial Software and Systems Private Ltd (FSS). The acquisition includes all underlying operating assets pertaining to FSS’s ATM Management solutions business and the novation of associated customer contracts, encompassing approximately 8,000 ATMs.The purchase consideration for the acquisition is up to ₹115 crores.According to a statement released, the parties involved in the agreement are FINANCIALSOFTWAREAND SYSTEMS PRIVATE LIMITED ('FSS'). The transaction is not considered a...

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 in connection with the Assessment Years 2015-16 and 2016-17. The orders, dated March 27 and 28, 2026, respectively, pertain to income-tax demand totaling ₹ 5.44 Crores, including ₹ 4.27 Crores in interest.The IT Department raised the demand due to certain additions and disallowances of expenditures under various sections of the Income Tax Act.The company intends to file an appeal against the Orders and stated that it does not anticipate any material impact on its financials, operations, or other activities.A table detailing the communication...

Avenue Supermarts Opens New Store in Bengaluru, Reaching 478 Locations Avenue Supermarts Limited, owner of the DMart retail chain, announced the opening of a new store on March 28, 2026. The new store is located at Gopalan Arcade Mall in Bengaluru, Karnataka.As a result of this expansion, the total number of DMart stores now stands at 478.The company’s registered address is Anjaneya, Opp. Hiranandani Foundation School, Powai, Mumbai, Maharashtra, India - 400076. The plot number for operations is B-72 & B-72A, Wagle Industrial Estate, Thane (West), Maharashtra, India - 400 604.Source:

Coal India Limited Receives Letter of Award for 750 MWh BESS Plant Kolkata – March 28, 2026 – Coal India Limited announced today that it has received a Letter of Award (LOA) from the Telangana Power Generation Corporation Limited for the establishment of a 750 MWh (187.5 MW for 4 hours) Battery Energy Storage System (BESS) plant at Choutuppal.The project involves submitting required documents within 15 days and subsequent signing of a Battery Energy Storage Purchase Agreement (BESPA). Coal India Limited will also be required to submit a performance bank guarantee.The project, considered a domestic order, has an estimated cost of Rs. 1057.09 crore and is slated for completion within 18 months from the signing of the BESPA. The...

S.A.L. Steel Limited Secures ₹150 Crore Credit Facility from YES Bank S.A.L. Steel Limited announced on March 28, 2026, that its Board of Directors approved a borrowing of ₹150,00,00,000 (Rupees One Hundred Fifty Crore Only) from YES Bank Limited. The facility will be utilized for working capital requirements.The borrowing is secured by a hypothecation on the company’s current assets and movable fixed assets, excluding those exclusively financed by other banks or financial institutions. Additionally, the facility is secured by an equitable mortgage on an industrial property located at Survey No. 245, Village Bharapar, Tal. Gandhidham, Kutch Dist., Gujarat.Personal guarantees from Mahesh Kumar Agarwal and Kaustubh Agarwal, along with...

Rane (Madras) Limited Receives Assessment Order and Penalty Notice Rane (Madras) Limited announced receipt of an assessment order and penalty notice from the Assessment Unit, National Faceless Assessment Centre, Income Tax Department on March 27, 2026.The assessment order pertains to Assessment Year 2023-24 (Financial Year 2022-23) and relates to the treatment of gain arising from derivative assets and trademark fee expenditure. Previously, the company received a show cause notice concerning these items.The authority disallowed trademark fee expenditure of Rs.10.37 crores paid to Rane Holdings Limited and adjusted upward the SBLC commission by Rs.2.60 crores. The total tax demand amounts to Rs.3.12 crores, excluding applicable...

DC Infotech and Communication Limited Faces Order from CGST & Central Excise Department DC Infotech and Communication Limited announced on March 28, 2026, that it received an order from the Assistant Commissioner, CGST & CX, Mumbai East Commissionerate, Maharashtra. The order alleges a mismatch between tax credit availed in GSTR-3B returns and credit available in GSTR-2A.According to the company, the order was passed on March 28, 2026. DC Infotech and Communication Limited believes the order is incorrect and did not fully consider the company's arguments. The company plans to file an appeal with the appropriate authority.Management stated that the order is not expected to have a material impact on the company’s financials...

Paramount Dye Tec Limited Receives Income Tax Assessment Order and Files Appeal Paramount Dye Tec Limited announced on March 28, 2026, that it received an Income-tax Assessment Order for the Assessment Year 2024-25 from the Assessment Unit, Income Tax Department, on March 25, 2026. The delay in review was attributed to the absence of a key personnel on medical leave. Subsequently, the company filed an appeal before the competent authority on March 27, 2026.The assessment order was issued under section 143(3) read with section 144B of the Income Tax Act. The financial impact of the order cannot be determined at this stage.Details of the order are outlined below:DetailsSr. No.ParticularsDetails1Name of the CompanyParamount...

Enviro Infra Engineers Ltd. Secures ₹664.33 Crores Order for Battery Energy Storage Systems Enviro Infra Engineers Ltd. announced on March 28, 2026, that it has received Letter of Awards (LOA) in the renewable energy segment from NTPC Limited. The awards pertain to Battery Energy Storage Systems (BESS) projects in Karnataka and Telangana.The company will execute the projects on an Engineering, Procurement, and Construction (EPC) basis for the implementation of BESS at the Kudgi Super Thermal Power Station in Karnataka and the Ramagundam Super Thermal Power Station in Telangana. This includes Comprehensive Annual Maintenance following successful performance testing.The contract involves supply, services, and annual maintenance for...

Louisville, Kentucky – Pernod Ricard SA and Brown-Forman Corp., the owner of Jack Daniel’s whiskey, are engaged in merger discussions as the alcoholic beverage industry seeks consolidation amid a downturn. The companies confirmed an earlier report by Bloomberg News, stating that the potential partnership would be akin to a merger of equals, drawing on the talent and expertise of both organizations and creating value for shareholders.Financial OverviewBrown-Forman Corp. market capitalization: Approximately $11.8 billion Pernod Ricard SA market capitalization: €15.1 billion ($17.4 billion)Deal Details The contemplated transaction involves a significant stock component. Family owners of both companies are likely to contribute...

Bengaluru, March 10, 2026: CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770), India’s largest Non-Banking Financial Company–Micro Finance Institution (NBFC-MFI), has signed a USD 75 million syndicated social loan facility, strengthening its international funding base and supporting inclusive lending initiatives. The facility qualifies as an external commercial borrowing and was arranged with HSBC acting as the Sole Mandated Lead Arranger and Bookrunner, bringing together participation from several global lenders including HSBC (GIFT City), Doha Bank (Qatar), State Bank (Mauritius) Ltd., Bank of China Ltd., and National Development Bank Plc (Sri Lanka). The transaction marks another step in the company’s strategy to diversify...