Author: Legal Parivar

The government-backed Bharat Taxi app is set for its official launch by the end of January 2026 in Delhi and several other Indian cities, following a strong response during its pilot phase, a senior official from the Ministry of Cooperation told PTI. Pankaj Kumar Bansal, Additional Secretary at the Ministry of Cooperation, said the app witnessed encouraging traction during its soft launch. “We have received a very good response for the Bharat Taxi service during the soft launch. The official launch will be done by month-end,” he said. Strong Response During Pilot Phase The Bharat Taxi app was introduced on…

Sterlite Technologies Limited (STL) on January 1, 2026, informed stock exchanges that it has received an income tax demand order of ₹36.83 crore from the Assessment Unit of the Income Tax Department. In a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company said the order was issued on December 31, 2025, under Section 143(3) read with Sections 144C(13) and 144B of the Income-tax Act, 1961. Details of the Income Tax Order According to STL, the demand relates primarily to transfer pricing and other tax adjustments. These include adjustments linked to intragroup…

Zomato parent Eternal’s founder and CEO Deepinder Goyal on Thursday, January 1, 2026, addressed concerns around the company’s 10-minute delivery promise amid the nationwide gig workers’ strike on New Year’s Eve, saying the system is often misunderstood and misrepresented on social media. Responding to criticism, Goyal acknowledged that while no system is perfect and there is always room for improvement, the portrayal of gig work as inherently exploitative is inaccurate. “No system is perfect, and we are all for making it better than today. However, it is far from what it is being portrayed on social media by people who…

India’s primary market calendar for January 2026 is shaping up to be one of the busiest starts to a year in recent times. From artificial intelligence and renewable energy to defence, mining, finance and hospitality, several large mainboard companies are either market-ready or awaiting final regulatory clearances. If all these issues go ahead, total fundraising could exceed ₹25,000 crore, though no company has officially announced launch dates yet. Here’s a look at the key IPO candidates to watch: Fractal Analytics AI-driven analytics firm Fractal Analytics is planning an IPO worth around ₹4,900 crore, comprising a ₹1,279.3 crore fresh issue and…

The Enforcement Directorate (ED) on Thursday said it has frozen assets worth ₹192 crore linked to real-money online gaming platform WinZO, following searches conducted at the premises of the company’s accounting firm. The search operation was carried out on December 30 at the office of the auditor of ZO Games Pvt. Ltd., a wholly owned Indian subsidiary of WinZO Pvt. Ltd. During the action, the federal probe agency froze fresh deposits classified as alleged “proceeds of crime” under the Prevention of Money Laundering Act (PMLA). According to the ED, the frozen assets include bank balances, fixed deposits and mutual fund…

Foreign Portfolio Investors (FPIs), also referred to as Foreign Institutional Investors (FIIs), remained net sellers in the Indian equity market on Thursday, January 1, 2026, offloading shares worth ₹439 crore, according to provisional data from stock exchanges. During the session, FPIs purchased equities worth ₹1,067 crore, while their total sales stood slightly higher at ₹4,336 crore, resulting in net outflows. In contrast, Domestic Institutional Investors (DIIs) once again provided support to the market, emerging as net buyers to the tune of ₹4,189 crore. DIIs bought shares worth ₹13,045 crore, while their selling activity was comparatively lower at ₹11,519 crore. FPI…

Kolkata-based Yajur Fibres, which specialises in the production of cottonised bast fibres, will open its initial public offering (IPO) for subscription on January 7. The SME issue has been priced in a band of ₹168–174 per equity share. The company aims to raise ₹120.4 crore through the IPO, which comprises a fresh issue of 69.2 lakh shares at the upper end of the price band. There is no offer-for-sale component in the issue. Yajur Fibres’ public issue is the largest SME IPO in over three months in terms of fundraising size. The last major SME issue of comparable size was…

Sapphire Foods India on Thursday announced plans to merge with Devyani International, a move that will consolidate the Indian franchisee operations of Yum! Brands-owned quick-service chains KFC and Pizza Hut under a single, scaled platform. The proposed merger comes at a challenging time for India’s fast-food industry, which has been grappling with slowing same-store sales and margin pressure as consumers rein in discretionary spending amid rising living costs. Key merger details Under the merger scheme outlined by the two companies, Devyani International Limited (DIL) will issue 177 shares for every 100 shares held in Sapphire Foods India Limited (SFIL). The…

The Indian rupee began 2026 on a subdued footing, extending its recent losses to close at 89.97 per US dollar on Thursday. The local currency opened marginally weaker at 89.95 and ended the session about 0.1% lower compared with its previous close of 89.87. Market participants attributed the mild depreciation largely to corporate dollar demand and thin trading volumes during the holiday-shortened session, with most global markets shut on account of the New Year. Factors Pressuring the Rupee Persistent foreign capital outflows continued to weigh on the currency. Provisional data from the NSE showed that foreign institutional investors (FIIs) were…

Ola Electric announced an expansion in its market presence in December, supported by higher service capacity under its in-app Hyperservice initiative. The company said the programme helped improve customer experience and service turnaround, contributing to stronger registrations and market share gains. According to the company, Ola Electric registered 9,020 units in December, taking its month-on-month market share to 9.3%, up from 7.2% in November 2025. The company added that momentum picked up in the latter half of the month, with market share rising to nearly 12% in the second half of December, indicating improved demand trends. The Hyperservice feature, rolled…