Author: Legal Parivar

A powerful 6.1-magnitude earthquake struck western Turkey late Monday, causing several previously damaged buildings to collapse and injuring at least 22 people, according to local authorities. The quake was centered in the town of Sindirgi in Balikesir province, hitting at 10:48 PM local time (1948 GMT) at a shallow depth of 5.99 kilometers (3.72 miles). Tremors were felt across nearby provinces, including Istanbul, Bursa, Manisa, and Izmir, and were followed by multiple aftershocks. Interior Minister Ali Yerlikaya confirmed that at least three unoccupied buildings and a two-story shop collapsed in Sindirgi — all of which had already been weakened by…

The Securities and Exchange Board of India (SEBI) has granted approval to five companies — Milky Mist Dairy Food, Curefoods India, Kanodia Cement, Steamhouse India, and Gaja Alternative Asset Management — to move ahead with their initial public offerings (IPOs). Steamhouse India and Gaja Alternative Asset Management had opted for the confidential filing route, which also received SEBI’s nod to proceed. SEBI’s October Update: Over 80 IPOs Under Review According to SEBI’s latest “Processing Status of Draft Offer Documents” report (as of October 24, 2025), more than 80 IPO drafts remain under review, including filings from PhonePe, Meesho, and Shiprocket.…

Ola Electric on Monday unveiled ‘Hyperservice’, a new open platform that allows independent mechanics and garages across India to directly purchase company-certified genuine spare parts via Ola’s customer app and website — eliminating intermediaries. Until now, these spare parts were available only within Ola’s proprietary service network. The company also announced plans to introduce diagnostic tools and technician certification programs later this quarter as part of the platform’s next development phase. “We’ve built our service ecosystem from the ground up — fast, transparent, and efficient through technology. With the scale-up of Hyperservice, we are extending this capability to everyone,” said…

Mazagon Dock Shipbuilders Ltd (MDL), the state-run defence PSU, announced its Q2 FY26 results on October 27, 2025, reporting a 28% year-on-year (YoY) rise in consolidated net profit, while revenue grew 6.25% during the same period. The company’s board of directors, which met today to approve the quarterly financial results, also declared a first interim dividend of ₹6 per equity share (face value ₹5 each) for the financial year 2025–26. The dividend will be paid to shareholders by November 26, 2025. Financial Performance Mazagon Dock’s profit growth was driven by steady execution of ongoing naval and submarine projects, along with…

The Indian National Centre for Ocean Information Services (INCOIS) and the India Meteorological Department (IMD) on Monday issued a joint warning predicting high sea waves ranging from 2 to 4.7 metres along the Andhra Pradesh coast from Nellore to Srikakulam as Cyclone ‘Montha’ intensifies into a cyclonic storm. According to the agencies, the high wave activity is expected to last for six hours — from 5:30 pm to 11:30 pm on October 27. “High waves between 2 and 4.7 metres are forecast during 5:30 pm to 11:30 pm off the Andhra Pradesh coast from Nellore to Srikakulam,” the bulletin stated.…

PNB Housing Finance Ltd on Monday reported a 24% year-on-year rise in consolidated net profit to ₹582 crore for the quarter ended September 2025, driven by robust performance in the affordable and emerging market segments. The company’s net interest income (NII) grew 14.4% to ₹765 crore, while its net interest margin (NIM) stood at 3.67%, marginally lower than 3.74% in Q1 FY26 and 3.68% in the same period last year. Operating expenses rose 7.6% to ₹217 crore during the quarter. Management expects NIMs to remain within the 3.6–3.7% range for the remainder of the fiscal year. Strong Disbursement Momentum Disbursements…

Qualcomm Inc. saw its biggest share rally since 2019 on Monday after launching a new lineup of artificial intelligence (AI) processors and computing systems aimed at the booming AI data centre market, directly challenging industry leader Nvidia Corp. The chipmaker’s stock surged 22% to $205.95, while Arm Holdings Plc, which supplies foundational chip technology used by Qualcomm, rose 4.7% to $178.69. Qualcomm’s Push Into AI Data Centres The San Diego-based company, best known as the world’s largest maker of smartphone processors, is now seeking to capture a slice of the fast-growing AI infrastructure market — one that has already reshaped…

Think & Learn Pvt Ltd (TLPL), the parent company of edtech major Byju’s, has filed an appeal before the National Company Law Appellate Tribunal (NCLAT) challenging the National Company Law Tribunal (NCLT) order that refused to halt Aakash Educational Services Ltd’s (AESL) proposed extraordinary general meeting (EGM) for a rights issue. The Bengaluru bench of the NCLT, on October 17, 2025, had dismissed Byju’s plea seeking to restrain Aakash from holding its October 29 EGM, where the rights issue will be discussed. The tribunal had declined to grant interim relief to the debt-laden edtech firm, which is currently under insolvency…

Tesla Chair Robyn Denholm has warned that Elon Musk could step down as the company’s CEO if shareholders fail to approve his proposed $1 trillion performance-based pay package, ahead of the automaker’s annual general meeting on November 6. In a letter to investors on Monday, Denholm said the compensation plan was vital to retain and motivate Musk, ensuring he continues to lead Tesla for at least another seven and a half years. She stressed that Musk’s “time, talent, and vision” are critical to Tesla’s long-term success and warned that without a proper incentive structure, the company risked losing his leadership…

Sanofi India Limited on Monday announced the appointment of Deepak Arora as its new Managing Director, effective October 27, 2025. The decision, based on the recommendation of the Nomination and Remuneration Committee, is subject to approval by the company’s shareholders and the Central Government, according to an exchange filing. The appointment marks a key leadership transition for the pharmaceutical major as it seeks to strengthen its India operations and align its business priorities with Sanofi’s global strategic objectives. At the same time, the company announced that Rachid Ayari has stepped down as Interim Managing Director, effective October 26, 2025. Ayari,…