Latest news with #SEBIListingRegulations
Business Upturn
22-07-2025
- Business
- Business Upturn
Siemens Energy India faces Rs 443.76 crore liability after Russian court ruling, to appeal decision
By Aditya Bhagchandani Published on July 22, 2025, 15:45 IST Siemens Energy India Limited has announced that it received an adverse ruling from the arbitration court of St. Petersburg, Russia, concerning a disputed supply contract with Neftegaz & Energetika LLC (formerly Siemens Energy LLC Russia). The court ruling was communicated to the company on July 21, 2025. According to the company's filing with stock exchanges under SEBI Listing Regulations, the dispute traces back to a contract awarded in June 2020, under which Siemens Energy India (then part of Siemens Limited) received an advance payment of ₹349.96 million from SE Russia. The contract was later terminated in October 2022 after the company invoked force majeure in September 2022. On March 12, 2025, the bankruptcy manager of SE Russia initiated litigation before the arbitration court of St. Petersburg, seeking ₹492.10 million from Siemens Energy India. In its ruling dated July 17, 2025, the Russian court declared the supply contract of July 16, 2021, and the advance payments made under it as invalid. The court ordered Siemens Energy India to pay ₹443.76 million (approximately USD 5.16 million) plus additional interest at 8% per annum from May 30, 2025, until the date of actual payment. The company, however, stated in its communication that it believes the ruling is 'unsustainable in law and contract' and intends to appeal the decision. This litigation stems from the demerger of the Energy Business from Siemens Limited to Siemens Energy India, sanctioned by the National Company Law Tribunal earlier this year, during which the disputed proceedings were transferred to Siemens Energy India. The company emphasized its commitment to defending its position vigorously and reassured stakeholders that it is taking all necessary legal steps. Disclaimer: The above information is based on the company's filing and is intended for informational purposes only. It should not be construed as legal or financial advice. Please consult appropriate professionals before making investment or business decisions. 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
22-07-2025
- Business
- Business Upturn
Arvind SmartSpaces shares jump 3% as company appoints Priyansh Kapoor as new CEO
By Aditya Bhagchandani Published on July 22, 2025, 09:52 IST Shares of Arvind SmartSpaces Ltd climbed nearly 3% today after the company announced the appointment of Mr. Priyansh Kapoor as its Whole Time Director & CEO, effective August 9, 2025, for a term of five years. The appointment, recommended by the Nomination and Remuneration Committee, is subject to shareholders' approval in compliance with the Companies Act 2013 and SEBI Listing Regulations. The company disclosed this development to the BSE and NSE under Regulation 30 of the SEBI (LODR) Regulations, 2015, highlighting Mr. Kapoor's extensive experience in leadership roles in the real estate sector. Mr. Kapoor has over 16 years of experience, starting his career at Godrej Properties Ltd (GPL), where he rose to become General Manager – Sales & Marketing. He later joined The Wadhwa Group as Head of Sales, Marketing & CRM before moving to Godrej Housing Finance as Head of Business Development & Strategy. Since 2020, he has served as CEO – Mumbai Zone at GPL, where he was instrumental in establishing GPL as the second-largest residential developer in the MMR region by booking value. Mr. Kapoor holds a Post Graduate Diploma in Management from Xavier Institute of Management. At the time of writing, Arvind SmartSpaces Ltd shares were trading at ₹667.75, up 2.63% on the NSE. 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.
Business Upturn
21-07-2025
- Business
- Business Upturn
Oberoi Realty board announces interim dividend of Rs 2 per share for Q1 FY26
Oberoi Realty has announced an interim dividend of ₹2 per equity share for the financial year 2025-26. This translates to 20% of the face value of each share, which stands at ₹10. The decision was taken at the company's board meeting held on July 21, 2025. Shareholders holding equity shares as of the record date—July 25, 2025—will be eligible for the dividend payout. The company has confirmed that the dividend will be paid out on or before August 7, 2025. In the exchange filings, Oberoi Realty shared, 'This is to inform you that the Board of Directors of the Company at their meeting held on July 21, 2025 has declared interim dividend for FY25-26 at the rate of Rs. 2/- (Rupees Two only) per equity share i.e. 20% of the face value of equity shares of Rs. 10/- each.' The board meeting, which began at 3:30 p.m., concluded at 4:35 p.m. The announcement complies with Regulation 30 and other applicable provisions under the SEBI Listing Regulations. 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
21-07-2025
- Business
- Business Upturn
Ninad Gadgil to step down as CEO and Executive Director of Wendt India
Wendt India has announced that Ninad Gadgil, its Executive Director and CEO, will be stepping down from his role effective end of business hours on September 15, 2025. The decision comes as Gadgil looks to pursue new career opportunities outside the company. The company formally received his resignation and shared the required disclosure under Regulation 30 of the SEBI Listing Regulations. A copy of the resignation letter has also been submitted as part of regulatory compliance. Gadgil's exit was discussed and approved during the Board of Directors meeting held on July 21, 2025, which commenced at 12:30 p.m. and concluded at 2:10 p.m. Wendt India has clarified that the resignation is voluntary and solely driven by Mr. Gadgil's decision to explore new professional avenues. The company has not yet announced a successor or interim CEO. There are no other disclosures applicable under the BSE and NSE circulars for such corporate changes. Since the change does not involve a new appointment, no profile or director relationships have been shared. In the meantime, Wendt India also reported its Q1 FY26 results for the quarter ended June 30, 2025. The company posted a revenue of ₹52.17 crore, up 6.3% from ₹49.06 crore in the same quarter last year. However, net profit dropped sharply by 51% YoY to ₹3.78 crore from ₹7.68 crore. EBITDA for the quarter stood at ₹7.3 crore, down from ₹10.5 crore a year ago, with EBITDA margin narrowing to 13.95% from 21.5%. The results indicate rising costs and weaker operating performance during the period. 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
18-07-2025
- Business
- Business Upturn
NTPC extends tenure of Chairman & CMD Gurdeep Singh by one year
NTPC Limited informed the exchanges on Friday that the Government of India has approved the re-employment of its Chairman & Managing Director (CMD), Shri Gurdeep Singh, on contract for one more year after his superannuation. According to the company's filing to BSE and NSE dated July 18, 2025, the Ministry of Power communicated that the President of India has re-employed Gurdeep Singh (DIN: 00307037) as CMD of NTPC Limited from August 1, 2025, till July 31, 2026, or until a regular incumbent assumes charge, or further orders — whichever is earlier. The extension comes as part of the government's decision to retain his leadership to steer the company through its ongoing strategic projects and energy transition initiatives. NTPC stated that it is in the process of completing the statutory formalities required for the re-appointment. Further disclosures as per SEBI Listing Regulations will be submitted separately. The decision reflects confidence in Gurdeep Singh's leadership at India's largest power producer during a crucial phase in the company's growth and diversification into renewable energy. 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.
