
Board of Bajaj Finance approves sub-division of shares and bonus issue
At meeting held on 29 April 2025The Board of Bajaj Finance at its meeting held on 29 April 2025 has recommended sub-division of 1 (one) equity share of face value of Rs. 2 each fully paid-up into 2 (two) equity shares of face value of Re. 1 each fully paid-up; and issue of bonus equity shares in the ratio of 4:1 i.e., 4 (Four) bonus equity shares of Re. 1 each for every 1 (one) equity share of Re. 1 each fully paid up. Powered by Capital Market - Live News

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Economic Times
22 minutes ago
- Economic Times
Claims made by HDFC Bank don't add up: Lilavati Trust; HDFC denies charges
In a fresh attack on HDFC Bank MD and CEO Sashidhar Jagdishan, Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) on Wednesday said the claims made by the bank about a single loan are not consistent and it has never produced any official loan ledger or agreement in court regarding its transaction with the Trust. Refuting allegations, an HDFC Bank spokesperson in a statement said the allegations and insinuations made by the trustees are devoid of any iota of truth whatsoever and neither the bank nor its CEO has engaged in any activity that is illegal, unethical or improper. The LKMM Trust manages and runs the prestigious Lilavati Hospital in Mumbai. Various documents from the bank reflect widely inconsistent loan amounts for instance, Rs 4.8 crore was cited initially, Rs 450 crore in another filing, and now Rs 65.22 crore, LKMM said in a statement. "How can one of India's largest banks make three different claims about a single loan, and not back it up with a basic loan agreement and ledger?" LKMM Prashant Mehta, Permanent Trustee wondered. The LKMM Trust and Prashant Mehta maintained that they had never taken a loan from HDFC Bank, and these inconsistencies support that claim, rather than refute it. The bank's refusal to present even basic documents in court undermines the credibility of the entire case and hints at deliberate narrative manipulation, it alleged. The Trust also alleged that the Rs 2.05 crore bribe money was paid to HDFC Bank MD and CEO Sashidhar Jagdishan to help Chetan Mehta group remain illegally in control of the LKMM Trust. However, the HDFC Bank's spokesperson said, "We reiterate our unequivocal, categorical and unambiguous denial and condemnation of these egregiously malicious, false and defamatory allegations and insinuations." The bank said it is concerned about its stakeholders and is on the verge of taking strong legal actions as per expert advice, against those who are initiating these baseless allegations with malafide and ulterior motives or involved in propagating the same. Members of the public and media are urged to exercise their critical judgement in reporting or amplifying the unsubstantiated allegations and insinuations, the spokesperson added.


Time of India
24 minutes ago
- Time of India
Bengaluru civic body to replace sodium lamps with smart LEDs
BENGALURU : By replacing traditional sodium street lights with energy-efficient LED lights, BBMP is set to save hundreds of crores in annual electricity costs, reducing power consumption by over 85% and significantly cutting its Rs 380 crore yearly electricity bill. Bengaluru is set to phase out traditional sodium street lights and replace them with LED lights, marking the start of a long-awaited, ambitious project aimed at saving hundreds of crores annually in electricity costs. After six years of planning, the Bruhat Bengaluru Mahanagara Palike (BBMP) is finally implementing the initiative to cut energy expenses by removing conventional street lights and installing energy-efficient LEDs. A BBMP official said, 'The BBMP had commissioned a private company to conduct surveys across seven out of eight BBMP zones (excluding Mahadevapura) to assess the feasibility, cost, energy savings, and financial model for this transition. Based on the survey report, the zones were divided into four packages, tenders finalised, and contracts awarded, with LED installations set to begin from June.' Currently, Bengaluru has about 5,37,000 street lights consuming over 51.5 crore units of electricity annually, costing the BBMP approximately `380 crore every year, including a `330 crore electricity bill paid to BESCOM. The recent electricity tariff hike has further escalated costs. With 40% of the city's street lights already converted to LEDs through BBMP grants and support from local MLAs and corporators, approximately 2 lakh LED street lights are already in place. However, many of these LEDs have exceeded their warranty periods, transferring maintenance responsibilities to contractors. This large-scale transition to LED street lighting is expected to bring significant financial and environmental benefits, easing the city's power burden and ensuring better-maintained, smarter public lightingBBMP Official The new contracts require companies to maintain and operate the LED street lights for seven years, with BBMP making monthly payments totalling `700 crore over the contract period. Besides street lights, the project includes installation of CCTV cameras, pollution sensors, and motion detectors on electric poles. Each streetlight will be equipped with a motion sensor and linked to a centralised control system that monitors and adjusts brightness remotely, targeting an estimated 85.5% reduction in energy consumption. The savings will help BBMP cover electricity bills and contractor payments. In past attempts, a contract awarded in 2018 to a consortium led by Shapoorji Pallonji was cancelled due to delays in LED installation. The project has now been restructured into four packages covering seven zones, with new tenders completed and contracts issued. The centralised monitoring system will instantly detect faults and allow remote control of lighting intensity, ensuring efficient management of street lights across the city. A BBMP official added, 'This large-scale transition to LED street lighting is expected to bring significant financial and environmental benefits, easing the city's power burden and ensuring better-maintained, smarter public lighting.'


Time of India
24 minutes ago
- Time of India
West Bengal govt to allow residential consumers to opt out from power smart meters: Official
KOLKATA : Amid protests over alleged inflated electricity bills following the installation of prepaid smart meters, the West Bengal government has decided to allow residential power consumers to opt out from the system and revert to traditional devices, an official said on Tuesday. The government had on Monday temporarily suspended fresh installations of smart meters for domestic consumers, he said. "The installation of smart meters for residential consumers has been temporarily suspended, but there is no plan for a mass recall. Consumers can choose to switch back to conventional meters," the official said. The prepaid smart meter installation will continue for commercial and government establishments, the official said. The decision comes after the BJP and the Left Front have been accusing the Trinamool Congress government of "burdening households with sudden tariff hikes and opaque smart meter installation". There had been protests in districts such as Howrah, North 24 Parganas, and Bardhaman, where people alleged their bills doubled or tripled after smart meter installations. The Mamata Banerjee government had earlier approved large-scale smart meter deployment to help the cash-strapped utility, West Bengal State Electricity Distribution Company Ltd, recover dues. The state government departments alone owed over Rs 1,500 crore to the discom, which has a total debt of Rs 15,400 crore in the 2023-24 fiscal, the official said. In May, Polaris Smart Metering secured a Rs 2,246-crore contract to install 2.2 million smart meters in West Bengal under the Centre's Revamped Distribution Sector Scheme (RDSS).