Author: Legal Parivar

State Bank of India (SBI) on Saturday announced that it has executed its first-ever gold trade as a Special Category Client (SCC) on the India International Bullion Exchange (IFSC) Ltd (IIBX), marking a key milestone in the country’s bullion market. In a statement, the bank said the move signifies a new era in India’s bullion import ecosystem — enhancing efficiency, transparency, and accessibility, especially for MSME jewellers. SBI, which became the first bank to register as a Trading-cum-Clearing (TCM) Member at IIBX in 2024, said that its SCC status will enable it to facilitate seamless bullion transactions and assist jewellers,…

Dev Uthani Ekadashi 2025, also known as Prabodhini Ekadashi, marks the end of Lord Vishnu’s four-month rest period (Chaturmas) and the beginning of the Hindu wedding and festive season. This year, the sacred occasion falls on Saturday, 1 November 2025, and is celebrated with devotion across India as a symbol of divine awakening, renewal, and prosperity. Two weeks later, Utpanna Ekadashi 2025 will be observed on Saturday, 15 November, offering another opportunity for spiritual reflection and new beginnings. 🕉️ Dev Uthani Ekadashi 2025: Date & Timings According to Hindu tradition, Lord Vishnu awakens from his cosmic slumber on this day,…

Businesses in the hospitality and food service sectors received welcome relief as the price of commercial LPG cylinders was reduced starting November 1, 2025. State-run oil marketing companies (OMCs) have lowered the rates of 19-kg commercial cooking gas cylinders, making them more affordable for restaurants, hotels, and catering services that rely heavily on LPG. New LPG Prices Across Major Cities According to Indian Oil Corporation (IOC), the price of a 19-kg commercial LPG cylinder in Delhi now stands at ₹1,590.50, down by ₹5 from the previous rate of ₹1,595.50. Here are the new revised prices for major metro cities: CityNew…

The initial public offering (IPO) of Orkla India Ltd, the parent company of MTR Foods, received overwhelming investor interest, with the issue seeing strong subscription across all investor categories. The IPO subscription window was open from October 29 to October 31, and attention now turns to the Orkla India IPO allotment date, expected on November 3, 2025, while the listing on both the BSE and NSE is likely to take place on November 6, 2025. Since November 1 and 2 fall on a weekend, the share allotment status is expected to be finalised early next week. Once the allotment process…

Hindustan Unilever Ltd (HUL), the Indian subsidiary of UK-based Unilever Plc, announced on Friday that it has received a tax demand notice worth ₹1,986 crore from the Income Tax Department. The notice pertains to FY 2020–21 and disputes the valuation of certain related-party transactions as well as some depreciation claims made by the company. In a regulatory filing, HUL stated, “The tax authorities have made transfer pricing adjustments in the nature of disallowance of payments to related parties or challenged the valuation of such related-party payments and corporate tax disallowances in the nature of depreciation claimed.” The company confirmed that…

Bitcoin, the world’s largest cryptocurrency, is on track to end October with a nearly 5% decline, as global market volatility and fading risk appetite have weighed on digital asset performance. The month witnessed one of the largest crypto liquidations in history, triggered after U.S. President Donald Trump announced a 100% tariff on Chinese imports and threatened export restrictions on key software. Bitcoin tumbled to $104,782.88 between October 10–11, just days after reaching a record high above $126,000. The sharp sell-off underscored the asset class’s volatility, with even major tokens like bitcoin and ether seeing 10% intraday declines. October ends with…

Promoter Tenneco Mauritius Holdings has sold a 2.75% equity stake in Tenneco Clean Air India, the Gurugram-based automotive components manufacturer, which is preparing for a ₹3,000 crore initial public offering (IPO). The secondary share sale, executed on October 30, values the company at ₹16,023 crore. As per the public notice to investors, Tenneco Mauritius transferred 1.1 crore shares for ₹440 crore, at ₹397 per share, to 14 institutional investors. Following the transaction, the promoter’s holding declined to 82.69% from 85.43%. Among the investors, 360 ONE Special Opportunities Fund emerged as the largest buyer, acquiring 18.89 lakh shares (0.47% stake) for…

Bengaluru-based logistics firm Shadowfax Technologies, backed by Flipkart, TPG, and Qualcomm, has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI) on October 31, aiming to raise up to ₹2,000 crore through an initial public offering (IPO). According to the filing, the IPO will comprise a fresh issue of shares worth ₹1,000 crore and an offer-for-sale (OFS) of shares amounting to ₹1,000 crore by existing investors. The selling shareholders in the OFS include Flipkart Internet (Walmart-owned), Eight Roads Investments Mauritius, TPG’s NewQuest Asia Fund, Nokia Growth Partners, International Finance Corporation, Mirae Asset,…

Denmark-based pharmaceutical giant Novo Nordisk has completed notifying most of its employees impacted by the ongoing global restructuring initiative, CEO Mike Doustdar announced on Friday, October 31, 2025. Doustdar said the pace of notifications varied across countries due to local legal requirements but emphasized that the company aimed to handle the process with “transparency and respect.” “We have now notified impacted colleagues in the vast majority of our geographies, though the pace varies according to differences in local laws. In all our interactions, we have always sought to operate with transparency and respect,” Doustdar stated in a LinkedIn post. He…

As the US earnings season unfolds, the world’s top tech giants — Microsoft, Amazon, Alphabet, and Meta — have made it clear to Wall Street that Artificial Intelligence (AI) is their next major growth engine. Collectively, the four companies plan to spend an unprecedented $380 billion in 2025 to strengthen their AI infrastructure and capabilities. The surge in spending reflects the industry’s race to capture what leaders describe as “limitless demand” for AI-driven services. Each company has lifted its capital expenditure (capex) guidance, signaling aggressive investments in data centers, chips, and cloud platforms. Amazon Bets Big on AI Amazon’s Chief…