Author: Legal Parivar

Bandhan Bank Limited has received a demand order from the Deputy Commissioner, Range-2, Gujarat, under Section 73 of the Central Goods and Services Tax (CGST) Act, 2017, relating to GST for the financial year 2021-22. The order alleges that the bank availed excess or ineligible Input Tax Credit (ITC) and did not pay GST on certain incomes. The total demand, including tax, interest, and penalty, amounts to ₹2.99 crore, broken down as follows: The bank has stated that the order will not have any material impact on its financials, operations, or other activities. Bandhan Bank is currently reviewing the matter…

Indian equity markets closed in red on December 26, with benchmark indices witnessing broad-based selling amid thin year-end volumes. The Sensex fell 0.38% to 85,081.12, while the Nifty 50 slipped 0.38% to 26,042.30. The Nifty Bank index also declined 0.29%, settling at 59,011. Large-cap stocks underperformed mid- and small-cap counterparts, though selective gains were seen in metals and consumer durables, while IT, auto, and banking stocks faced sustained pressure. FII ActivityForeign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 1,721.26 crore on Wednesday. December outflows have exceeded Rs 20,000 crore, with net outflows for 2025 nearing Rs 3…

Copper, a vital metal for electronics and the clean energy transition, has joined precious metals in a record-breaking rally in 2025, with London Metal Exchange (LME) prices rising 41% to nearly $12,300 per ton. The surge has been fueled by concerns over persistent supply shortages, positioning copper for its largest annual gain since 2009. The rally in global copper prices has boosted sentiment toward Hindustan Copper, India’s major copper producer, which holds nearly 40% of the country’s copper ore reserves. Rising prices are expected to improve the company’s margins and revenue outlook. Hindustan Copper Stock PerformanceReflecting the strong global trend,…

Colgate-Palmolive (India) has disclosed that it has received an income tax demand amounting to ₹267.64 crore for FY22, mainly due to transfer pricing adjustments and the disallowance of certain expenses, according to a regulatory filing. The assessment order was issued under Section 143(3) read with Section 144C(13) of the Income Tax Act, along with a demand notice under Section 156. The company received the communication from the income tax assessment unit on December 24, 2025, and informed the stock exchanges on Thursday, as December 25 was a public holiday. The demand pertains to the assessment year 2022–23. Colgate-Palmolive India clarified…

Saatvik Green Energy on Friday announced that it has bagged an additional contract worth ₹16.74 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for deploying off-grid solar water pumps across the state. With this latest win, the company’s cumulative orders from MSEDCL have risen to 1,815 solar water pumps, with a total contract value of ₹30.24 crore, excluding GST, according to an official statement. The project, awarded under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM-B scheme, involves the end-to-end execution of 1,000 off-grid DC solar photovoltaic water pumping systems. This includes their design, manufacturing, supply, transportation, installation,…

Manappuram Finance on December 26 said its board has approved an additional investment of up to ₹250 crore in its subsidiary, Asirvad Micro Finance Limited. The investment will be made in one or more tranches and will raise Manappuram Finance’s stake in the subsidiary to 98.56 percent from 98.31 percent, at a price of ₹51 per share. Despite the announcement, Manappuram Finance shares ended the session slightly lower at ₹313.90, bringing an end to the stock’s six-day winning streak. Asirvad Micro Finance, which was acquired by Manappuram Finance in February 2015 with assets under management (AUM) of around ₹300 crore,…

Private sector lender IDFC First Bank on December 26 announced that its board will meet at the end of January to consider and approve the financial results for the third quarter of FY26. According to an exchange filing, the bank has fixed Saturday, January 31, 2026, as the date for the declaration of its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The results will be subject to a limited review by the bank’s joint statutory auditors. Trading Window Closure The bank also informed that the trading window for dealing in its…

IT services firm Coforge on December 26 announced the acquisition of US-based engineering services company Encora in a $2.35-billion all-stock transaction. The acquisition will be carried out through a share-swap arrangement, under which Coforge will issue 93.8 million equity shares priced at ₹1,815.91 per share, translating into a non-cash consideration of approximately ₹17,032 crore. Following the transaction, Encora’s shareholders will hold around 21.25% of Coforge’s expanded equity capital. In a statement released after its board meeting, Coforge said the deal would create a $2.5-billion technology services company with enhanced scale and capabilities across AI-led engineering, cloud, and data services, enabling…

India’s largest power distribution utility, Maharashtra State Electricity Distribution Co Ltd (MSEDCL), is planning to refinance at least 50% of its ₹98,000-crore debt as part of a broader balance-sheet overhaul ahead of a proposed initial public offering (IPO) within the next 12 months, managing director Lokesh Chandra said in a recent interview. To strengthen its financial position ahead of the listing, the utility has already raised ₹12,800 crore from State Bank of India (SBI) to replace high-cost borrowings with loans at more competitive interest rates. Debt Pressure and Agricultural Arrears The restructuring effort is aimed at easing MSEDCL’s annual debt-servicing…

The initial public offering (IPO) of E to E Transportation Infrastructure Ltd opened for subscription on December 26 and will remain open until December 30, 2025. The company has fixed the price band for the issue at ₹164 to ₹174 per share. The ₹84-crore public issue, which is entirely a fresh issue, is proposed to be listed on the NSE SME Emerge platform. Hem Securities Limited is acting as the Book Running Lead Manager to the issue. Subscription Status (Day 1) As of 12:58 PM on the first day of bidding, the IPO had been subscribed over 2 times. Grey…