Author: Legal Parivar

ICAI Plans New Standards for IT-Driven Audits The Institute of Chartered Accountants of India (ICAI) is preparing to issue new Information Systems Audit Standards aimed at improving the quality of audits for technology-driven businesses such as startups, fintech companies, and e-commerce platforms. Announcing the move, ICAI President Charanjot Singh Nanda said the new standards will enable chartered accountants (CAs) to assess IT-related risks—ranging from **cyber security threats and data breaches to system failures—**and recommend effective mitigation measures. Applicability Across Sectors While designed with startups and fintech firms in mind, the standards will also apply to financial audits across other industries,…

NCLAT Ruling on Neptune Developers Insolvency The National Company Law Appellate Tribunal (NCLAT) has rejected an appeal filed by the Central Bank of India challenging the approval of a resolution plan for the bankrupt real estate company Neptune Developers Pvt. Ltd. The appellate tribunal ruled that the bank, as a dissenting financial creditor, cannot block a resolution plan endorsed by the Committee of Creditors (CoC) in its “commercial wisdom.” The judgment comes as a major relief to over 2,000 homebuyers who have been waiting for possession of their flats in Neptune’s long-delayed Project Swarajya in Kalyan, Mumbai. Background of the…

Shares of India Cements surged nearly 5% to around ₹388 apiece in early trade on August 21 after UltraTech Cement opened its offer for sale (OFS) to divest up to 2.01 crore shares, representing a 6.49% stake in the company. UltraTech Cement, which currently holds 81.49% stake in India Cements (as of June 2025), will reduce its holding to 75% post-transaction. The floor price for the OFS has been set at ₹368 per share, valuing the total sale at over ₹740 crore. The offer window will remain open from August 21–22. The decision was approved in UltraTech’s board meeting on…

Shares of Godrej Properties rose up to 2.2% to ₹2,082 in morning trade on Thursday, August 21, after the company announced it had emerged as the highest bidder in a Telangana Housing Board (TGHB) e-auction. The real estate major secured a 7.8-acre residential land parcel in Hyderabad’s Kukatpally with a winning bid of ₹547.78 crore. According to the filing, the project has a revenue potential of nearly ₹3,800 crore, with the allotment letter to be issued once TGHB completes the formalities. Situated near HITEC City, the proposed development will include premium residential apartments across various configurations. Commenting on the development,…

Jupiter Wagons Ltd share price rallied nearly 11% on August 21, 2025, after the company announced a major order win for the Vande Bharat Train project. The railway stock jumped as much as 10.95% to ₹366 per share on the BSE, driven by strong buying interest. The surge in share price was backed by a sharp rise in trading volumes. Nearly 44 lakh shares of Jupiter Wagons were traded on the exchanges, significantly higher than its one-week average of 13 lakh shares. The company confirmed that its material unlisted subsidiary, Jupiter Tatravagonka Railwheel Factory Pvt Ltd, has received a Letter…

Hindustan Aeronautics Limited (HAL) has announced that the Government of India has approved the procurement of 97 Light Combat Aircraft (LCA) Tejas Mk-1A fighter jets worth ₹62,000 crore. The approval was granted by the Cabinet Committee on Security (CCS) on August 19, 2025, the company confirmed in its stock exchange filing on August 21, 2025. According to HAL’s statement, the order includes the aircraft along with associated equipment for the Indian Air Force (IAF). This procurement marks a major milestone for India’s indigenous Tejas programme, aimed at replacing the ageing MiG-21 fleet and enhancing the country’s self-reliance in defence manufacturing.…

The allotment status for Studio LSD Ltd’s SME IPO is expected to be finalised today. Investors who applied for the issue can check their allotment on the Purva Sharegistry (India) Pvt. Ltd. website or via the NSE portal. For investors who did not receive any shares, the refund process will begin on 22 August 2025, while successful allottees will see the allotted shares credited to their demat accounts. The IPO, which opened on 18 August and closed on 20 August 2025, is scheduled to list on the NSE SME platform on 25 August 2025. How to Check Studio LSD IPO…

Dermatology-focused healthcare services provider Sakhiya Skin has filed its Draft Red Herring Prospectus (DRHP) with the BSE to launch a small and medium enterprise (SME) IPO. As per the DRHP, the IPO will comprise up to 61,72,000 equity shares, including a fresh issue of up to 50,10,000 shares and an offer for sale (OFS) of up to 11,62,000 shares. Under the OFS, promoter Jagdishkumar Jadavbhai Sakhiya plans to sell up to 8,82,653 shares, while Rupalben Jagdishbhai Sakhiya intends to offload 2,79,347 shares. 🔹 Utilisation of Funds GYR Capital Advisors Pvt Ltd is the sole book-running lead manager for the issue.…

The Patel Retail IPO opened for subscription on 19 August 2025 and will close on 21 August 2025, leaving just one more day for investors to apply. The issue has received an overwhelming response, with the IPO subscribed 19.50 times by the end of Day 2. The company has set the Patel Retail IPO price band at ₹237 to ₹255 per share. Patel Retail aims to raise ₹242.76 crore, comprising a fresh issue of ₹217.21 crore and an Offer for Sale (OFS) of ₹25.55 crore. Post-issue, the shares are proposed to be listed on both BSE and NSE. Patel Retail…

The initial public offering (IPO) of solar module manufacturer Vikram Solar has received strong investor interest, with an overall subscription of 4.56 times by the end of the second day of bidding on Wednesday. The non-institutional investor (NII) category was subscribed 13.01 times, while the retail individual investor (RII) portion saw 3.47 times subscription. The qualified institutional buyer (QIB) segment recorded 11% subscription. The IPO, valued at ₹2,079 crore, is open for subscription until August 21 with a price band of ₹315–₹332 per share. The issue includes a fresh equity share sale worth ₹1,500 crore and an offer for sale…