Author: Legal Parivar

Torrent Power on Saturday announced that it has received a Letter of Award (LoA) from MP Power Management Company Ltd (MPPMCL) for the supply of power from its upcoming 1,600 MW coal-based power plant in Madhya Pradesh. The LoA, awarded through a competitive bidding process, finalised the tariff at ₹5.829 per kWh, the company said in a statement. Largest-Ever Investment by Torrent Group The ₹22,000 crore greenfield project will be the Torrent Group’s single-largest investment in the power sector. The company plans to set up a 2×800 MW Ultra-Supercritical power plant in Madhya Pradesh, with coal supplied under the Ministry…

Prime Minister Narendra Modi reached China on Saturday for the Shanghai Cooperation Organisation (SCO) summit, marking his first visit to the country in seven years. The summit will be held in Tianjin on August 31–September 1. A key highlight of the trip will be Modi’s bilateral meeting with Chinese President Xi Jinping, where the two leaders are expected to review India-China economic relations and discuss ways to stabilize ties strained by the eastern Ladakh border dispute. Modi will also hold talks with Russian President Vladimir Putin and other world leaders on the sidelines of the summit. In his departure statement,…

Brazil’s labor court has ordered Volkswagen to pay 165 million reais (around $30 million) in collective moral damages after workers were subjected to slave-like conditions at a company-owned farm in the Amazon during the 1970s and 1980s. Prosecutors described it as the largest reparation of its kind in the country’s history. The case stems from an investigation launched in 2019 by the Labor Prosecutor’s Office, based on evidence collected by a local priest who had tracked the abuses for decades. In 2024, prosecutors formally charged Volkswagen, alleging that hundreds of workers between 1974 and 1986 faced degrading conditions at the…

Background Business Snapshot Financials (FY25 vs FY24) Book Running Lead Managers

Singapore Prime Minister Lawrence Wong will embark on a three-day official visit to India from September 2, sources said, marking a key milestone in 60 years of diplomatic ties between the two nations. Several memorandums of understanding (MoUs) are expected to be signed, covering areas such as skill development, finance, digitalisation, civil aviation, space collaboration, and shipping. Bilateral Engagements Key Initiatives During the Visit Trade and Investment Highlights Skill Development and Education Fintech and Digital Cooperation Defence Cooperation Space Collaboration

The initial public offerings (IPO) of Current Infraprojects and Sattva Engineering Construction, both engineering, procurement, and construction (EPC) services companies, received massive investor interest on the final day of bidding, August 29. Current Infraprojects IPO Details Sattva Engineering Construction IPO Details

State-run Oil and Natural Gas Corp. Ltd (ONGC) is optimistic about a major recovery in crude oil output from the Mumbai High field within the next 13–14 months, as it collaborates with UK-based energy giant BP on enhanced oil recovery (EOR) initiatives. Partnership and EOR Plans CEO Outlook Arun Kumar Singh, Chairman and CEO of ONGC, told reporters on Friday: “It has been only four months since this partnership started in April 2025. Green shoots are good. Small wins will come in 7–8 months, but big wins will take around a year and a half. The contract estimates two years…

Russian President Vladimir Putin is scheduled to make an official visit to India in December, AFP reported on Friday, citing the Kremlin. The announcement comes as New Delhi faces fresh US tariffs over its continued imports of Russian oil. Key Details of the Visit Context: US Tariffs and Energy Trade India-Russia Relations Legal and Diplomatic Context

Northern Railways on Friday announced the cancellation of 46 incoming and outgoing trains from Jammu, Katra, and Udhampur railway stations on August 30, following heavy rains and flash floods that have battered the region. Train Services Hit for Fourth Day Train traffic between Kathua and Udhampur has remained suspended for the past four days due to track misalignment and breaches at multiple locations. As a result, several services have been cancelled, and five trains will operate with short-origin and short-terminate arrangements, according to the Railways’ Jammu Division PRO. Earlier, Northern Railways had cancelled 40 trains on August 29, citing similar…

RBL Bank on August 29 said its board has approved plans to raise up to ₹6,500 crore through a mix of equity and debt instruments, aimed at strengthening its capital base and supporting future growth. The fundraise includes: QIP Plan The private lender said the QIP issuance may take place in one or more tranches, depending on market conditions. Debt Issuance The debt securities will also be raised in tranches, offering flexibility for the bank to tap the market as needed. Market Reaction The announcement was made post-market hours on August 29. Earlier in the day, RBL Bank shares closed…