Central Bank of India has announced changes in its senior management team, effective December 1, 2025. The announcement includes the promotion of Shri Vasti Venkatesh to Chief General Manager, International Division, Treasury Department, the promotion of Shri P Mahadevan as General Manager – Retail Assets, the appointment of Shri Vivek Kumar as General Manager – Finance & Accounts, and the appointment of Ms. Kavita Thakur as General Manager – Compliance.

Senior Leadership Transitions

Shri Vasti Venkatesh has been promoted to the position of Chief General Manager, overseeing the International Division and Treasury Department. He brings over 30 years of banking experience and holds a Master’s degree in Business Administration (Banking and Finance). He is also a Certified Associate of the Indian Institute of Banking and Finance (IIB&F).

Retail Assets Division Leadership

Shri P Mahadevan has been promoted to General Manager – Retail Assets. With approximately 30 years of banking experience, he joined the bank in 1995. He holds a Bachelor of Commerce and a Master of Arts and is also a Certified Associate of IIB&F.

Finance and Accounts Appointment

Shri Vivek Kumar has been appointed as the General Manager of Finance & Accounts. He joined the Bank in 1999 and brings over 26 years of overall experience. He holds a Bachelor’s degree in Science, a Bachelor’s in Education, and a Master’s in Management Studies (Finance). He is also a Certified Associate of IIB&F. Previously, he led the Retail Asset Department.

Compliance Leadership Change

Ms. Kavita Thakur has been appointed as General Manager – Compliance. She has been with the bank since 1990 and has over 35 years of banking experience. She holds a Master of Arts (Economics) and a Master’s in Business Administration and is a Certified Associate of IIB&F. She previously served as the Zonal Manager of the Ahmedabad Zonal Office.

Source: BSE

CARE Ratings has reaffirmed the AA; Positive rating for CEAT’s Non-Convertible Debentures (NCDs). The rating applies to NCDs totaling ₹500.00 Crores. This reaffirmation indicates CARE’s continued confidence in CEAT’s financial stability and performance outlook.

Rating Reaffirmation

CARE Ratings has reaffirmed its rating of CARE AA; Positive for CEAT’s proposed Non-Convertible Debentures (NCDs). This rating applies to NCDs amounting to ₹500.00 Crores.

Details of the Rated Instrument

The reaffirmed rating pertains to the following:

Instrument Type: Proposed Non-Convertible Debentures (NCDs)
Amount: ₹500.00 Crores
Rating/Outlook: CARE AA; Positive
Rating Action: Reaffirmed

Source: BSE

Gujarat State Petronet Limited (GSPL) has announced the appointment of Shri Lokesh Agarwal as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective December 2, 2025. Shri Amit Shah, who served as Interim CFO, ceased to hold the position on the same date. The company has formally updated its key leadership roles.

Leadership Change at GSPL

Effective December 2, 2025, Shri Lokesh Agarwal has been appointed as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of Gujarat State Petronet Limited (GSPL). This appointment marks a key transition in the company’s financial leadership.

Interim CFO Transition

With the appointment of Shri Lokesh Agarwal, Shri Amit Shah, who previously held the position of Interim CFO and KMP, has ceased to hold these positions, effective December 2, 2025. Shri Shah‘s service as Interim CFO ensured continuity during the transition period.

Background of Shri Lokesh Agarwal

Shri Lokesh Agarwal brings a wealth of experience to GSPL. He is 51 years old and holds qualifications including B.Com, LL.B, CA, CS, and CMA. He has over 28 years of experience, most recently as Director – Finance at Westrock India Pvt. Ltd. in Mumbai.

Source: BSE

Narayana Hrudayalaya has received a penalty order of ₹24,62,172 from the GST Authority for alleged non-payment of GST on exempted healthcare revenue for the financial year 2021-22. The company intends to file an appeal against the order. There is no material impact on the company’s financials or operations anticipated from this penalty.

GST Penalty Order Received

Narayana Hrudayalaya has been issued a penalty order by the GST Authority. The order, received on December 2, 2025, imposes a penalty of ₹24,62,172.

Details of the Alleged Violation

The penalty relates to the alleged non-payment of GST on exempted revenue from healthcare services for the financial year 2021-22. The GST Authority alleges non-payment of ₹2,45,27,710. The order also includes an interest component.

Company’s Response and Planned Appeal

The company had previously made representations to the GST Authority, arguing that GST was not applicable to the revenue in question. Narayana Hrudayalaya intends to appeal the order with the relevant appellate authority. The company does not anticipate any material impact on its financials or operations as a result of this order. The appeal process is underway.

Source: BSE

NLC India Limited welcomes Rajesh Pratap Singh Sisodia as the new Director (Planning & Projects), effective December 2, 2025. Sisodia, with over 35 years of experience at BHEL, brings expertise in engineering, project management, and renewable energy. His role will focus on strategic project development and resource management, driving NLCIL’s innovation and growth.

Leadership Change at NLC India

Rajesh Pratap Singh Sisodia has assumed the role of Director (Planning & Projects) at NLC India Limited on December 2, 2025. He received a warm welcome from the CMD and Functional Directors.

Extensive Experience

Prior to this appointment, Mr. Sisodia served as Executive Director at Bharat Heavy Electricals Limited (BHEL) and brings with him more than three decades of experience in core engineering sectors.

Professional Background

Mr. Sisodia holds a degree in Mechanical Engineering from Regional Engineering College, Kurukshetra. He began his career at BHEL in 1990. His expertise covers manufacturing units, construction sites, project management, and business divisions in the Power and Industry Sectors.

Core Competencies

His experience includes design and engineering, site construction, project management of large EPC projects, marketing and contract management, with expertise in emerging New and Renewable Energy and Coal gasification divisions. He also worked at BHEL’s International Project site.

Previous Roles and Innovations

During his time at BHEL, he introduced state-of-the-art technology in gas turbines, supercritical boilers and turbine sets, and power plant equipment aimed at mitigating environmental impact.

Strategic Vision

NLCIL CMD Shri Prasanna Kumar Motupalli stated that Mr. Sisodia’s experience and acumen will enhance NLCIL’s project management, strategic planning, and resource securing capabilities.

Source: BSE

Balrampur Chini Mills has announced the grant of Employee Stock Appreciation Rights (ESARs) to its employees. A total of 33,765 ESARs have been granted under the “BCML Employees Stock Appreciation Rights Plan 2023”. The exercise period begins 4 years from the vesting date, with the vesting period spanning 4 years. The ESAR price is set at ₹447.00 per ESAR.

ESAR Grant Details

Balrampur Chini Mills has granted Employee Stock Appreciation Rights (ESARs) to its employees under the “BCML Employees Stock Appreciation Rights Plan 2023” (ESAR 2023/ “Plan”). This announcement was made on December 2, 2025.

Key Highlights of the ESARs

The grant includes the following key details:

• Scheme: ESAR 2023/Plan
• Type of Option: Employee Stock Appreciation Rights (ESARs)
• No. of ESARs granted: 33,765
• ESAR Price per ESAR: ₹447.00
• Vesting period: Over a period of 4 (four) Years
• Exercise period: 4 (four) Years from the date of vesting of such ESARs

The quantity of equity shares to be allotted against each ESAR will be determined according to the ESAR 2023 plan.

Source: BSE

India Cements has announced that its wholly-owned subsidiaries, PT Coromandel Minerals Resources and Raasi Minerals Pte. Limited, have entered into a Share Sale and Purchase Agreement (SSPA) to sell their entire equity investment in PT Adcoal Energindo, Indonesia. The sale, for a consideration of IDR 10,002,720,000, will result in PT Adcoal ceasing to be a subsidiary of India Cements. A prior agreement to sell PT Adcoal’s stake in MSTB has been terminated.

Subsidiary Stake Sale

India Cements, through its subsidiaries PT Coromandel Minerals Resources, Indonesia, and Raasi Minerals Pte. Limited, Singapore, has divested its complete equity investment in PT Adcoal Energindo, Indonesia. This move was formalized through a Share Sale and Purchase Agreement (SSPA).

Details of the Transaction

Upon completion of this sale, PT Adcoal will no longer be a subsidiary of India Cements. Consequently, PT Mitra Setia Tanah Bumbu (MSTB), in which PT Adcoal holds a 49% equity investment, will no longer be an associate company of India Cements.

The sale consideration for this transaction is IDR 10,002,720,000 (Indonesian Rupiah ten billion two million seven hundred twenty thousand). The deal is expected to be completed within a period of 6 months.

Prior Agreement Terminated

The company also announced that the Share Sale and Purchase Agreement (SSPA) dated July 3, 2025, to sell its entire equity investment in MSTB has been terminated. Parties have decided not to proceed further with the said agreement.

Counterparties Involved

The buyers are Mr.Finsa Noorcahyo F and Mr.Hari Sutikno, both Indonesian citizens.

Impact on Revenue

The turnover contributed by PT Adcoal was ₹20.72 Crore which is 0.50% of the company turnover. The Net Worth contributed by the entity was ₹6.48 Crore which is 0.24% of the company’s Net Worth for the last financial year. The other income contributed was ₹0.41 Crore which is 0.20% of the company’s other income.

Source: BSE

Jubilant Pharmova has announced a special window for the re-lodgement of transfer requests for physical shares. This initiative follows a circular issued on July 2, 2025. The company has received a report from its Registrar and Share Transfer Agent, Alankit Assignments Limited, detailing the status of re-lodgement requests as of November 30, 2025. Information is available on the company website.

Re-lodgement of Physical Shares

Jubilant Pharmova is facilitating a special window for shareholders to re-lodge transfer requests for physical shares. The company has received a report from Alankit Assignments Limited, the Registrar and Share Transfer Agent, regarding the status of these requests.

Status as of November 30, 2025

As of November 30, 2025, the status of re-lodgement requests is as follows:

Source: BSE

ACC Limited has received an order regarding the disallowance of excess Input Tax Credit (ITC) claimed in the GSTR-3B return. The company plans to contest the order by filing an appeal before the Commissioner of Income Tax (Appeals). The impact on the company’s financials or operations is not expected to be material.

Order for Disallowance of ITC

ACC Limited has received an order for the disallowance of excess Input Tax Credit (ITC) claimed in the GSTR-3B return. The company is preparing to challenge the order by filing an appeal before the Commissioner of Income Tax (Appeals) within the stipulated timeframe.

Details of the Order

The order pertains to the disallowance of excess ITC claimed.

Contesting the Order

ACC Limited intends to contest the order by filing an appeal. The company will be pursuing this through the appropriate legal channels.

Financial Impact

The company does not anticipate any material impact on its financial or operational activities as a result of this order. The company is taking appropriate steps to appeal against the order.

Order Details

Authority: Additional Commissioner CGST Commissionerate Panchkula
Demand: Rs.5,12,36,686/- (CGST Rs.2,56,18,343/- + SGST Rs.2,56,18,343/-) confirmed.
Penalty: Rs.51,23,670/- (CGST Rs.25,61,835/- + SGST Rs.25,61,835/-) imposed.
Date of Receipt: 1st December 2025

Source: BSE

Praj Industries has announced an inter-se transfer of shares within its promoter group. 7,200,000 shares, representing 3.917% of the company’s share capital, will be transferred from Moriyaset Trust to Dr. Pramod Chaudhari. This transaction, disclosed on December 2, 2025, is exempt from requiring an open offer under SEBI regulations and does not alter the aggregate promoter group holding.

Details of Share Transfer

Praj Industries announced on December 2, 2025, an internal transfer of shares amongst its promoter group entities. According to the disclosure, 7,200,000 shares are being transferred. This represents 3.917% of the total share capital of the company. The transfer is classified as an inter-se transaction.

Transfer Breakdown

The shares will be transferred from Moriyaset Trust to Dr. Pramod Chaudhari. This move is due to the dissolution of Moriyaset Trust, which is part of the Promoter Group. The acquirer, Dr. Pramod Chaudhari, already holds 24.971% of the company.

Impact on Promoter Holding

This transfer does not change the overall holding of the promoter group in Praj Industries. The promoter group’s aggregate ownership remains consistent before and after this transaction. This transfer falls under exemptions as defined by SEBI regulations for substantial acquisition of shares. No open offer is triggered as a result of this transfer.

Source: BSE