Latest news with #Regulation30
Business Upturn
13 minutes ago
- Business
- Business Upturn
BEML bags defence order worth Rs 293.82 crore for supply of HMV 6×6 vehicles
BEML Limited has announced that it has secured a fresh order worth approximately ₹293.82 crore from the Ministry of Defence for the supply of High Mobility Vehicles (HMV) 6X6. The disclosure was made pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015. This new contract strengthens BEML's position as a key defence equipment supplier, highlighting its capability to deliver advanced, indigenous mobility solutions for the armed forces under the government's 'Make in India' initiative. Notably, on July 18, BEML had also announced a separate order worth ₹185.65 crore from the Ministry of Defence (E-in-C) for the supply of bulldozers. That earlier order, which was made in the normal course of business, further deepened the company's long-standing relationship with the Ministry and added to its already strong defence-focused order pipeline. While the bulldozer order is unrelated to the latest HMV contract, both reinforce BEML's critical role in supporting India's defence infrastructure through consistent and high-quality equipment deliveries. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
3 hours ago
- Business
- Business Upturn
Vedanta declared preferred bidder for Janthakal iron ore mine in Karnataka
By Aditya Bhagchandani Published on July 23, 2025, 15:22 IST Vedanta Limited has been declared the preferred bidder for the Janthakal Iron Ore Mine in Karnataka, as per a notification received on July 22, 2025. The company informed stock exchanges today under Regulation 30 of SEBI (LODR) regulations. The Department of Mines & Geology, Government of Karnataka, had invited tenders through its Notice Inviting Tender dated October 3, 2024, to auction the mining license for the Janthakal Iron Ore block. After qualifying at the initial bid stage, Vedanta participated in the live e-auction process and emerged as the highest bidder. The Janthakal Iron Ore Mine, located in Karnataka, spans an area of 71.16 hectares and is classified as a G3-level exploration block. Vedanta clarified that the final grant of the mining license is subject to the company meeting the conditions outlined in the tender document. This includes submission of the performance bank guarantee, securing necessary approvals and clearances from government authorities, and executing required agreements. The company stated it remains committed to fulfilling all formalities to move toward operationalizing the block. For the record, the declaration of Vedanta as preferred bidder marks another step in the company's strategy to strengthen its iron ore resource base in India. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
a day ago
- Automotive
- Business Upturn
Hyundai Motor India receives GST order of Rs 517.34 crore for alleged short payment on SUVs
By Aditya Bhagchandani Published on July 22, 2025, 17:37 IST Hyundai Motor India Limited informed the exchanges that it has received an order from the Commissioner (Appeals), CGST Department, Tamil Nadu, confirming a GST Compensation Cess demand of ₹258.67 crore, along with an equal amount of penalty, bringing the total to approximately ₹517.34 crore. According to the company's regulatory filing under Regulation 30 of SEBI LODR, the order pertains to an alleged short payment of GST Compensation Cess on certain SUV models sold between September 2017 and March 2020. The order was received via email on 21 July 2025 at 6:40 PM, from the Office of the Commissioner of GST & Central Excise (Appeals – II), Tamil Nadu. Key details of the order: Particulars Details Authority Office of the Commissioner of GST & Central Excise (Appeals – II), Tamil Nadu Nature of Order Confirmation of GST Compensation Cess demand Amount of Demand ₹258.67 crore Penalty ₹258.67 crore Total ₹517.34 crore Period in question September 2017 – March 2020 Allegation Short payment of GST Compensation Cess on certain SUV models The company stated that there is no impact on its financial, operational, or other activities at present due to this order and confirmed that it is reviewing the order and will exercise its right to file an appeal. This move comes amid heightened scrutiny of the automotive sector over classification and cess rates applicable to vehicles sold during the initial GST regime years. Hyundai reiterated its commitment to comply with applicable laws and stated it remains confident about its position on the matter. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
a day ago
- Business
- Business Upturn
Prestige Estates acquires remaining 40% in Apex Realty Ventures to make it a wholly-owned subsidiary
By Aditya Bhagchandani Published on July 22, 2025, 15:19 IST Prestige Estates Projects Limited announced on July 22, 2025, that it has acquired the remaining 40% partnership interest in Apex Realty Ventures LLP, making the firm its wholly-owned subsidiary. The acquisition was completed through Prestige and its wholly-owned subsidiary by paying a cash consideration and settling the retiring partner's capital balance of ₹0.4 crore. According to the company's filing under Regulation 30 of SEBI (LODR) Regulations, Apex Realty Ventures is a Bengaluru-based real estate development firm incorporated on March 28, 2019. The LLP reported a turnover of ₹724.08 crore for the financial year ending March 31, 2025, compared to ₹1,007.82 crore in FY24 and ₹0.81 crore in FY23. Prior to this transaction, Prestige Estates already held a 60% partnership stake in the entity. Post-acquisition, the company now holds 100% — directly and indirectly — consolidating its control over Apex Realty. The company stated that this move was driven by business reasons and the objective of consolidating its stake. The acquisition was completed on July 22, 2025, and does not involve any related-party transactions or require regulatory approvals. This step strengthens Prestige Estates' position in the real estate and construction space and is aligned with its strategy of consolidating and expanding its portfolio of development projects. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
a day ago
- Business
- Business Upturn
Yogi shares rise over 2% after winning Rs 46.21 crore industrial equipment order
By Aditya Bhagchandani Published on July 22, 2025, 09:49 IST Shares of Yogi Ltd rose over 2% today after the company announced it has secured fresh purchase orders worth approximately ₹46.21 crore from Companion Vinimay Trading Private Limited, boosting investor sentiment. On Monday, July 21, the company informed exchanges under Regulation 30 of SEBI (LODR) that the orders cover the supply and delivery of a complete set of industrial equipment, including: Structure Assembly Head Assembly Rotary Table & Electrical Accessories Tool Changer & Additional Axis Other Accessories According to the filing, the orders were placed by a domestic customer and are expected to be executed within 15 days, under standard quality and delivery terms. Yogi clarified that neither the promoter group nor related parties have any interest in the contracting entity, and the transaction does not qualify as a related party transaction. Commenting on the development, Managing Director Ghanshyambhai Nanjibhai Patel emphasized the company's commitment to timely execution. The company stated the order, exclusive of taxes, strengthens its industrial equipment segment and is expected to positively impact near-term revenues. At the time of writing, Yogi Ltd shares were trading at ₹198.90, up 2.39%, on the BSE. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
