Author: Legal Parivar

New Delhi: Russian President Vladimir Putin spoke with Prime Minister Narendra Modi on Monday, briefing him on his recent meeting with US President Donald Trump in Alaska. According to a statement from the Prime Minister’s Office (PMO), Modi reiterated India’s consistent stance that the Ukraine conflict must be resolved through peaceful means, reaffirming support for all diplomatic efforts toward that goal. The two leaders also discussed key aspects of bilateral cooperation, underscoring the strength of the India–Russia strategic partnership. Taking to X (formerly Twitter), Modi said:“Thank my friend, President Putin, for his phone call and for sharing insights on his…

GMR Airports Limited announced on Monday that its Board of Directors will meet on Thursday, August 21, 2025, to consider a proposal for raising up to ₹5,000 crore. Fundraising Details According to the stock exchange filing, the fundraising will be taken up through an enabling resolution, giving the company flexibility to raise capital in one or more tranches. Possible instruments under consideration include: The proposal, once cleared by the board, will be recommended to shareholders for approval, subject to necessary statutory and regulatory permissions. Strategic Purpose GMR said the move is aligned with its broader financing strategy aimed at strengthening…

Telecom operator Vodafone Idea (Vi) is exploring non-banking sources of capital to support its ongoing capex cycle, as talks with banks remain slow due to uncertainty over adjusted gross revenue (AGR) dues. Outgoing CEO Akshaya Moondra made the remarks during the company’s June-quarter earnings call on August 18. Looking Beyond Banks for Funding Moondra said while negotiations with lenders have picked up following the government’s conversion of ₹36,950 crore dues into equity and a subsequent credit rating upgrade, banks remain cautious until AGR clarity emerges. “Given our focus on maintaining capex continuity since last year, we are evaluating non-bank funding…

Apple has signed a 10-year lease agreement for nearly 2.7 lakh sq ft of premium office space in Bengaluru, in a deal valued at about ₹1,010 crore, according to documents accessed by Propstack . Key Lease Details: Apple’s Retail Expansion in Bengaluru Alongside its office lease, Apple is preparing to launch its third India retail store at Phoenix Mall of Asia in north Bengaluru. The company has leased around 8,000 sq ft from Sparkle One Mall Developers under a 10-year deal, with an annual rent of ₹2.09 crore. The lease was registered in November 2024, with rent payments starting in…

The Securities and Exchange Board of India (SEBI) has proposed major changes to ease stake dilution and extend timelines for meeting the Minimum Public Shareholding (MPS) norms in large initial public offerings (IPOs). According to a consultation paper released on Monday, SEBI suggested new thresholds and timelines based on post-issue market capitalization. This move comes after inputs from its Primary Market Advisory Committee and internal deliberations. Why the Relaxation? SEBI noted that mega IPOs pose challenges for both issuers and the market due to the size of stake dilution required. Large, profitable companies—especially those with strong reserves but limited capital-raising…

Chinese Foreign Minister Wang Yi will begin a two-day visit to India on Monday for a fresh round of high-level talks aimed at strengthening confidence-building measures along the India-China border. The visit comes as both countries seek to repair strained ties following the deadly Galwan Valley clashes in 2020. Wang will hold discussions with National Security Advisor Ajit Doval, the Indian special representative for boundary talks, to review the situation along the Line of Actual Control (LAC) and explore steps for durable peace and stability. Despite partial disengagement at several friction points, both sides continue to maintain nearly 50,000–60,000 troops…

Foxconn, the Taiwanese electronics manufacturing giant and Apple’s largest iPhone producer, has officially started small-scale production of the iPhone 17 at its Bengaluru facility — the company’s second-largest plant outside China. This comes in addition to ongoing production at its Chennai unit, according to a PTI report citing industry sources. The Bengaluru plant, established with an investment of nearly ₹25,000 crore, had earlier faced delays due to Chinese engineers returning home. However, Foxconn has now filled the expertise gap by bringing in specialists from Taiwan and other countries. Apple’s India expansion comes as the tech giant pushes to scale production…

Chief Election Commissioner (CEC) Gyanesh Kumar announced on Sunday that the list of voters deleted from Bihar’s draft electoral rolls during the Special Intensive Revision (SIR) has been uploaded on district magistrates’ websites, in compliance with the Supreme Court’s directives. The Supreme Court, while hearing petitions challenging the revision process in poll-bound Bihar, had directed the Election Commission (EC) to release details of nearly 65 lakh deleted names along with reasons for exclusion to ensure transparency. Addressing a press conference in Delhi, Kumar said the EC acted swiftly, publishing the data within 56 hours of the court’s order. He stressed…

RSB Retail India Ltd, a leading multi-brand retail chain in South India, has filed its draft red herring prospectus (DRHP) with market regulator Sebi for an initial public offering (IPO) worth about ₹1,500 crore. The IPO will consist of a fresh equity issue of up to ₹500 crore and an offer for sale (OFS) of 2.98 crore shares by the promoters. IPO Proceeds Utilisation Company Overview Founded in 2008 and headquartered in Hyderabad, RSB Retail operates across 73 stores in 22 cities within Telangana, Andhra Pradesh, and Karnataka under formats such as South India Shopping Mall, R.S. Brothers, Kanchipuram Narayani,…

The combined market valuation of five out of India’s top 10 most valuable companies rose by ₹60,675.94 crore last week, driven by strong investor sentiment in equities. State Bank of India (SBI) and HDFC Bank were the biggest contributors to the gains. During the holiday-shortened week, the Sensex climbed 739.87 points (0.92%), while the Nifty advanced 268 points (1.10%), reflecting overall positive momentum in the markets. Top gainers: SBI, HDFC Bank, Infosys, Bharti Airtel, Reliance Top losers: LIC, Bajaj Finance, ICICI Bank, TCS, Hindustan Unilever Despite the mixed trend, Reliance Industries remained India’s most valued company, followed by HDFC Bank,…