Himalaya Food International to convert promoter loans into rights issue entitlements
Himalaya Food International announced that three lenders from the promoter group who had lent an amount totalling Rs 17.01 crore to the Company for payment of OTS to banks; prior to the Rights offer have conveyed their consent to convert the loan amounts towards the promoter's entitlement of Rights issue.
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India.com
21 minutes ago
- India.com
Who will inherit Sunjay Kapur's Rs 390000000000 business empire? Not Karisma Kapoor or his other ex-wives, the heir is...
Sunjay Kapur, the ex-husband of Karisma Kapoor, died of a heart attack on June 12. He was 53. (File) Sunjay Kapur, the ex-husband of actor Karisma Kapoor, who passed away at the age of 53 due to a heart attack in the UK on Thursday (June 12), was a veteran business tycoon who served as the Chairman and non-executive director of Sona Comstar, formerly known as Sona BLW Precision Forgings Limited– a leading auto parts manufacturer. Kapur left behind an expansive business empire valued at a whopping $4.7 billion (about Rs 30,000 crore), and speculations are rife about who would lead Sona Comstar following his demise. Who would inherit Sunjay Kapur's Rs 39,000 crore business empire? Sunjay Kapur took over as the Managing Director of Sona Comstar after his father's demise in 2015, took the company to new heights. Under Kapur's leadership, the company expanded its presence across the globe, building manufacturing plants in the United States, Mexico, Serbia, and China. Sunjay Kapur was married thrice, with his marriage to Bollywood actor Karisma Kapoor being the one which is most known for obvious reasons. Sunjay and Karisma tied the knot in 2003, and later divorced in 2016. The union produced two kids, Samaira and Kiaan. Later, Kapur married Priya Sachdev, and has son with her named Azarias. He was also the father of Sachdev's child from her first marriage. However, neither Karisma Kapoor, nor any of Sunjay Kapur's ex-wives are expected to inherit Sona Comstar. Instead, it is believed that his sister, Superna Kapur Motwane and Mandira Kapur Koirala– both well-settled professionals in their respective careers– are likely to lead the company, according to media reports. Superna Kapur Motwane is a editor for a well-known magazine, while Mandira Kapur Koirala runs Sona Mandira Pvt Ltd (SMPL), an auto parts maker similar to Sona Comstar. Notably, Sunjay and Mandira were once involved in a legal dispute over who had rights to the 'Sona' brand name, which was established by their late father Dr Surinder Kapur. Sunjay Kapur net worth According to reports, Sunjay Kapur had a net worth pegged at around $1.2 billion (approximately Rs 10,300 crore). Meanwhile, the ace businessman has left a healthy amount for his children, which includes a Rs 14 crore bond he purchased for Samaira and Kiaan after divorcing Karisma Kapoor in 2016. The bond generates a monthly interest of Rs 10 lakh, which is meant to cover the daily expenses of his two kids with Karisma. Additionally, his house in Khar is also registered in their names. Sunjay Kapur death Sunjay Kapur, the ex-husband of famous Bollywood actress Karisma Kapoor, died of a heart attack while playing a polo match in the United Kingdom on June 12. At first, it was believed that the 53-year-old had died due to a sudden heart attack, but later reports emerged that he had reportedly swallowed a bee by accident, and its sting caused an allergic reaction, triggering a cardiac arrest that led to his demise. 'It is with deep sorrow that we inform that Sunjay Kapur, Chairman and Non-Executive Director of Sona Comstar, passed away on 12 June 2025 in England, UK due to a heart attack at the age of 53. As a visionary leader, Kapur played a key role in building Sona Comstar into a global mobility technology company based on innovation, stability and purpose. His inspiration, vision and dedication to excellence inspired us all,' Sona Comstar said in an official release. 'Apart from his professional contributions, Sunjay Kapur was a devoted father, a mentor to many, and a strong supporter of India's manufacturing and mobility sector. His demise is a huge loss to the industry and the Sona family,' the release added.
Economic Times
25 minutes ago
- Economic Times
Cost of green hydrogen in India set to fall by up to 40%: Report
India's green hydrogen costs are projected to decrease by up to 40% due to government support and incentives, potentially reaching Rs 260-310 per kg. The nation's Green Hydrogen Mission, launched in January 2023 with a Rs 19,744 crore outlay, aims for 5 million tonnes of annual production by 2030. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The cost of green hydrogen in India , the country that is aiming big in the renewable energy space, is expected to fall by up to 40 per cent with the support and incentives the government is providing, according to a report by the Institute for Energy Economics and Financial levelised cost of green hydrogen in India is seen falling towards Rs 260-310 per kg (USD 3-3.75 per kg).India provides cheap renewable electricity to hydrogen manufacturers, waives Inter-State Transmission Charges for open access, lowers distribution and transmission charges, and lowers the GST rate for hydrogen to 5 per the report asserts electrolyser manufacturers are projected to achieve a 7-10 per cent reduction in total system costs for the first five years, starting in 2024--Rs 2,960/kW (USD 36/kW) being the average annual realisable base incentive."While the green hydrogen scheme is an important step for India, refinements are needed to promote long-term investment and project viability," says the report asserted that India's green hydrogen mission has been enthusiastically received by industry. It added, however, that the scheme needs fine-tuning to attract startups, be competitive for global players and create a supply chain and secure demand to ensure the industry's long-term viability."If successful, it could help build India's green hydrogen industry with benefits for a range of sectors including agriculture, transport and manufacturing," the Institute for Energy Economics and Financial Analysis report launched its National Green Hydrogen Mission in January 2023 with an overall outlay of Rs 19,744 crores. The country has set an ambitious target of achieving a green hydrogen production capacity of 5 million tonnes by the end of 2030. The programme consists of two distinct financial incentive mechanisms to support domestic electrolyser manufacturing and Green Hydrogen green hydrogen mission, which aims to establish 5 million tonnes of annual green hydrogen production capacity by 2030, represents a significant step towards realising India's ambitions in the hydrogen meets a sizable portion of its energy needs through fossil fuels, and various renewable energy sources, including green hydrogen, are seen as an avenue to reduce dependence on conventional sources of power. Green energy for climate mitigation is not just a focus area for India; it has gained momentum COP26 held in 2021, India committed to an ambitious five-part "Panchamrit" pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030. India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.
Hans India
30 minutes ago
- Hans India
Govt eases funding rules for R&D, research heads can now approve global tenders up to Rs 200 crore
In a major boost to India's research and innovation sector, the government on Sunday announced key reforms to ease financial restrictions and improve the day-to-day functioning of academic and research institutions. One of the biggest changes is that heads of research institutions will now be allowed to approve global tenders up to Rs 200 crore without requiring multiple layers of approval. This move is expected to speed up the procurement of scientific equipment and resources significantly. Addressing the press conference in the national capital, Union Minister of State for Science and Technology (Independent Charge), Dr. Jitendra Singh, said these long-awaited decisions aim to enhance the 'Ease of Innovation' and 'Ease of Doing Research' across the country. The Minister added that this historic shift was made possible due to the personal support and encouragement of Prime Minister Narendra Modi, who has consistently backed science and youth-led innovation as key pillars of India's growth. Earlier, scientists and research scholars often faced frustrating delays because of financial ceilings and complex procurement procedures. For example, if an institution wanted to purchase high-end equipment from abroad, it had to seek approvals through long bureaucratic processes, sometimes delaying critical research work by months. The new rules will now allow institutions to fast-track such purchases, especially those that require global tenders. Dr Singh said that while more autonomy is being given, it comes with the responsibility to maintain transparency and integrity. "We are trusting our scientific community to use this freedom wisely. These reforms are built on a foundation of trust and accountability," he said. The changes follow strong recommendations from the Economic Advisory Council to the Prime Minister and the office of the Principal Scientific Advisor (PSA), which highlighted how well-intentioned rules were creating bottlenecks instead of supporting scientific progress. This policy shift also ties in with the National Education Policy (NEP) 2020, which promotes flexibility in education and encourages research-led learning. Dr Singh emphasised that if students are being empowered to shape their academic paths, research institutions should also be allowed the freedom to support those ambitions. He pointed out how earlier liberalisation in sectors like space and nuclear had shown great results. "India's space sector is now an $8 billion economy and is expected to grow fivefold. We want to replicate this success in the research and development sector as well," he said. The reforms are expected to particularly help young scientists, researchers, and startups, many of whom had expressed their concerns on social media about delays and hurdles in funding and procurement.
