Latest news with #SEBILODRRegulations
Business Upturn
18-07-2025
- Business
- Business Upturn
Vedanta releases legal opinion from former CJI Chandrachud countering Viceroy Research allegations
By News Desk Published on July 18, 2025, 23:13 IST Vedanta Ltd has made public a legal opinion from former Chief Justice of India, Justice D.Y. Chandrachud, in response to allegations raised in a report by Viceroy Research. The company disclosed the development to the stock exchanges on Thursday evening as part of its regulatory obligations. The legal opinion—sought independently by the company—addresses the claims made in the Viceroy report, which had questioned corporate governance practices at Vedanta and its group entities. According to the company, the legal opinion 'effectively rebuts the allegations' and provides clarity on the legal and governance standing of the group. In its filing, Vedanta stated: 'In compliance with Regulation 30 of the SEBI LODR Regulations, we wish to inform you that the Company has received an independent legal opinion from Hon'ble Mr. Justice D.Y. Chandrachud, Former Chief Justice of India, regarding the allegations made in the Viceroy Research report.' The company further added that the legal opinion will be made available on its official website for public access, underscoring its commitment to transparency and corporate governance. Read the full legal opinion here: This is the latest step by Vedanta to counteract concerns raised by external parties and comes amid heightened scrutiny of large conglomerates operating under complex holding structures. Ahmedabad Plane Crash News desk at
Economic Times
13-06-2025
- Business
- Economic Times
Dixon Technologies shares in focus on JV with Signify to strengthen lighting business in India
Dixon Technologies (India) shares are likely to be in the spotlight on Friday, June 13, 2025, after announcing its 50-50 joint venture agreement with Signify Innovations India. ADVERTISEMENT 'Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations'), we hereby inform you that, the Company has executed a joint venture agreement with Signify to enable formation of a joint venture company in India to carry on the OEM business of lighting products and accessories, and is subject to completion of customary conditions precedent ('Proposed Transaction'),' the company said in an exchange filing. The announcement signals a strategic partnership aimed at expanding the companies' presence in India's lighting products and accessories sector. Dixon Technologies, a key player in the Indian manufacturing industry, has entered into a joint venture agreement with Signify, the global leader in lighting solutions. The joint venture company will be equally owned by both entities, with each holding a 50% equity share marks a crucial development for Dixon Technologies as it embarks on becoming an original equipment manufacturer (OEM) for lighting products and accessories in proposed transaction is subject to the completion of customary conditions and is expected to be finalized by November 30, 2025. ADVERTISEMENT The formation of the joint venture is seen as a step forward in Dixon Technologies' growth strategy, as it will leverage the company's strong manufacturing capabilities along with Signify's market leadership in the lighting industry. Dixon Technologies shares closed 1.9% lower at Rs 14,505.65 on the BSE on Thursday. ADVERTISEMENT Also read: Reliance sells 3.6% Asian Paints for $900 million to SBI MF (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Business Upturn
12-05-2025
- Business
- Business Upturn
Desco Infratech secures new orders worth Rs 44.77 crore from IOCL, BPCL, Torrent Gas
By Aditya Bhagchandani Published on May 12, 2025, 15:05 IST Desco Infratech Limited announced on May 12 that it has secured fresh orders totalling Rs 44.77 crore from Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Torrent Gas Limited. The company informed the BSE under Regulation 30 of the SEBI LODR Regulations. These domestic contracts cover last-mile connectivity (LMC), direct marketing activities (DMA), and associated works in the city gas distribution (CGD) space, specifically in Andhra Pradesh, Telangana, and Tamil Nadu. The orders are to be executed as per individual contractual timelines. Importantly, the company clarified that these are not related party transactions and the promoters have no interest in the awarding entities. Desco further highlighted that these confirmed orders represent nearly 64% of its revenue for FY25 (excluding GST), indicating strong operational momentum. The contracts underline Desco's growing presence in the gas infrastructure and utility services domain. The company reiterated its commitment to timely and quality execution in alignment with national energy objectives. 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.
India.com
08-05-2025
- Business
- India.com
Stock market news: NBFC stock gains 10% in volatile market on fundraise announcement
Shares of a non-banking financial company gained over 10 per cent on Thursday, i.e. May 6,2025 even as the market remained volatile. The stock opened gap up at Rs 0.40 with a gain of 2.56 per cent from the previous close of Rs 0.39 on the BSE. It gained further to touch the intraday high of Rs 0.43. This is a surge of over 10 per cent from the previous close. Last seen, the counter was trading at Rs 0.41 with a gain of 5.13 per cent. The stock under discussion is Standard Capital, and it has gained as the board has authorised the allocation of 7900 unrated, unlisted, secured NCDS with face values of Rs 1 lakh each at an issue price of Rs 1 lakh, the company previously told the exchanges. 'In furtherance to our intimation letter dated April 30, 2025 & May 02, 2025 & 05th May 2025 relating to raising funds by the issue of Non-Convertible Debentures ('NCDs') on Private Placement basis and by Regulation 30 of SEBI LODR Regulations, we wish to inform you that the Board of Directors of the Company by circulation held today, i.e. Tuesday, May 06, 2025, has inter- alia, considered and approved the allotment of 7900 unrated, unlisted, secured NCDs, of face value of Rs. 1,00,000/- each at an issue price of Rs. 1,00,000/- each aggregating to INR 79,00,00,000 (Indian Rupees Seventy Nine Crores Only) on Private Placement basis in terms of Private placement cum application letter,' the company said in a exchnage filing. Meanwhile, benchmark indices Sensex and Nifty began the day on an optimistic note on Thursday, but later turned volatile. The 30-share BSE benchmark gauge climbed 181.21 points to 80,927.99 in early trade. The NSE Nifty went up by 32.85 points to 24,447.25. Investors stayed on the sidelines amid rising geopolitical tensions. In a strong retaliation to the Pahalgam massacre, India's armed forces early on Wednesday destroyed nine terror sites, including those of Jaish-e-Mohammad and Lashkar-e-Taiba in Pakistan and Pakistan-occupied Kashmir (PoK) using deep strike missiles in a 25-minute-long 'measured and non-escalatory' mission.
Business Upturn
06-05-2025
- Business
- Business Upturn
Yes Bank clarifies on SMBC stake buzz; terms media reports as speculative
By Aditya Bhagchandani Published on May 6, 2025, 12:51 IST Yes Bank Limited has officially denied the accuracy of a recent media report claiming that Japan's Sumitomo Mitsui Banking Corporation (SMBC) is in advanced talks with State Bank of India (SBI) to acquire a significant stake in the private lender. In a clarification filed with the National Stock Exchange on May 6, Yes Bank stated that while the bank routinely explores growth opportunities with stakeholders to enhance shareholder value, the discussions mentioned in the article are preliminary and 'do not warrant a disclosure under Regulation 30 of the SEBI LODR Regulations, 2015.' The bank also termed the claims in the media report as 'speculative' and 'not factually correct,' and said there is no undisclosed information requiring regulatory disclosure at this time. The report from The Economic Times had earlier suggested that SMBC was exploring a potential acquisition exceeding 5.1% in Yes Bank, which could trigger an open offer under SEBI rules. It also noted SBI's 23.97% stake, with HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, LIC, Advent International, and Carlyle as other major shareholders. 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. 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.
