Author: Legal Parivar

LTIMindtree Vice Chairman SN Subrahmanyan will assume the role of Chairman on June 27, following the resignation of AM Naik from the board, the company announced on June 26. Earlier, It was reported that Naik, also the Chairman Emeritus of Larsen & Toubro, would be stepping down as the non-executive chairman and board member of L&T Technology Services Ltd (LTTS). The company acknowledged Naik’s significant contributions, noting that under his leadership, LTIMindtree transformed into a focused global conglomerate. Naik’s tenure saw the creation of the Larsen & Toubro Employee Trust (LTET), the largest shareholder of the company, and he played…

Silver prices on the MCX plummeted to a six-week low of ₹86,620 per kilogram today, influenced by a strengthening U.S. dollar and rising Treasury yields following hawkish statements from U.S. Federal Reserve officials about potential rate cuts. The prices have been on a sharp downward trend for the past four sessions, resulting in a 5% decline. Currently trading at ₹87,000, silver prices have dropped by 10% from their recent peak of ₹96,493 on May 29. Federal Reserve Governor Michelle Bowman stated on Tuesday that the central bank is not ready to lower rates and is open to raising them if…

On June 26, State Bank of India (SBI), the country’s largest lender, successfully raised Rs 10,000 crore through the issuance of 15-year infrastructure bonds at a coupon rate of 7.36 percent, according to market sources. An infrastructure bond is a financial instrument used to fund the construction of infrastructure facilities. “The bank received 11 bids at a coupon rate of 7.36 percent, totaling Rs 10,471.40 crore. However, the bank accepted only Rs 10,000 crore,” one source reported. Additionally, SBI received bids at varying coupon rates: 10 bids at 7.38 percent, 12 bids at 7.40 percent, and 10 bids at 7.42…

Vodafone Idea is in advanced discussions with Samsung to implement virtualized Radio Access Network (vRAN) solutions for its 4G and 5G deployments, according to a company statement. The two companies have been conducting network trials in Chennai, India, over the past 12-18 months. Following successful trial results, Vodafone Idea has expanded Samsung deployments to the Karnataka and Bihar circles, meeting its 5G Minimum Rollout Obligation (MRO) in these regions using NSA vRAN architecture. Jagbir Singh, Chief Technical Officer of Vodafone Idea Limited, stated, “This vRAN deployment, delivered through Samsung’s innovation and joint technological strategic initiatives, aligns with our technology transformation…

Embattled edtech firm Byju’s has reached a settlement with France-based Teleperformance Business Services, as reported to the National Company Law Tribunal (NCLT) on June 26, marking the second relief for the company in a single day. The insolvency court requested Teleperformance to file a memo indicating its wish to withdraw the insolvency plea due to the settlement, enabling the closure of the case. Earlier in the day, it was reported that Indian law enforcement agencies had cleared the struggling online-education startup of financial fraud, although they found certain lapses in corporate governance. The NCLT had previously urged Byju’s on several…

Canadian Prime Minister Justin Trudeau Liberal Party faced a surprising defeat in the by-elections held in its long-held Toronto-St. Paul constituency on Tuesday, as reported by CBC News. Conservative candidate Don Stewart’s victory is notable because the Liberals have maintained control of this seat for over three decades, even during challenging electoral cycles such as the 2011 federal election, which saw only 34 Liberal MPs elected to Parliament. Prior to this election, a Conservative candidate had not posed a serious challenge in Toronto-St. Paul’s since the 1980s. In a closely contested race, Conservative Don Stewart, a consultant, secured victory with…

Today, during the inaugural session of the 18th Lok Sabha, Prime Minister Narendra Modi will move the motion to elect Om Birla as the Speaker of the House. The election for the Lok Sabha Speaker is set for 11 AM, with Union Defence Minister Rajnath Singh seconding the motion. Om Birla, a three-term MP from Kota, Rajasthan, is contesting against Congress leader Kodikunnil Suresh, nominated by the INDIA bloc. The ruling BJP and opposition Congress have issued three-line whips, requiring their members’ presence during the proceedings. The election process traditionally involves mutual agreement between the ruling party and the opposition.…

At the onset of each financial year, it is crucial for Indian companies to be aware of significant deadlines for annual filings. This applies across various types of companies, including private limited, public limited, small, and large enterprises. Understanding these deadlines ensures compliance with statutory requirements for income tax filings, ROC (Registrar of Companies) annual returns, and other event-based filings essential for regulatory adherence. What Company Annual Filing Entails Indian companies are mandated to file their annual accounts and returns with the Registrar of Companies within 30 to 60 days after their annual general meeting. Compliance with these Ministry of…

Adani Enterprises intends to deploy approximately Rs 1.75 lakh crore ($21 billion) into its airports business over the next decade, according to a report in the Economic Times, citing group CFO Jugeshinder Singh. Adani Airport Holdings, which oversees operations at seven Indian airports, will manage this investment. Phase-I development on the city-side infrastructure has already commenced at airports in Mumbai, Ahmedabad, Jaipur, Lucknow, and Guwahati. The company aims to boost revenue from non-aero segments, targeting a 75 percent contribution to total revenue, and plans to list Adani Airport by 2028. Adani Airport Holdings is also overseeing the construction of Navi…

Stay ahead of the curve with today’s headlines roundup of crucial news stories shaping India’s financial and corporate landscape. From regulatory shifts in market settlements and options trading to significant investment decisions by corporate giants, here’s what you need to know to navigate the latest developments in India’s business world.