Cochin Shipyard has been fined by both the BSE and NSE for non-compliance regarding the composition of its Board of Directors. The fines, amounting to ₹9,77,040 each (including GST), are due to a shortfall in the number of independent directors and related committee constitution issues during the quarter ended September 30, 2025. The company is seeking a waiver for the fines.

Fines Imposed by Stock Exchanges

Cochin Shipyard Limited has received notices from the BSE and NSE imposing fines due to non-compliance with regulations related to the composition of the Board of Directors. Each fine amounts to ₹9,77,040 inclusive of GST.

Reason for Non-Compliance

The fines relate to non-compliance with regulations concerning the composition of the Board of Directors, specifically the absence of a sufficient number of independent directors. This also impacted the constitution of the audit committee and the nomination and remuneration committee. The period of non-compliance was for the quarter ended September 30, 2025.

Company’s Response

Cochin Shipyard Limited is seeking a waiver from the stock exchanges for these fines. The company emphasizes that the appointment of directors is under the purview of the Government of India. They have requested the government to appoint the required number of independent directors. The company is actively working to meet all compliance requirements and expects the committees to be properly constituted following director appointments.

Impact

The financial impact is limited to the fines imposed. The company is taking steps to address the underlying issues and ensure future compliance. The company does not anticipate any significant operational impacts beyond these penalties.

Source: BSE

Chennai Petroleum Corporation Ltd. has received notices from BSE and NSE regarding non-compliance related to the appointment of an Independent Director. The notices pertain to the period ending September 30, 2025, and include a fine of ₹5,42,800 by each exchange. The company has requested a waiver, asserting that the appointment is under the purview of the MoP&NG, Govt. of India.

Notice of Non-Compliance

Chennai Petroleum Corporation Ltd. has received notices from both the BSE and NSE concerning non-compliance issues pertaining to the appointment of an Independent Director. The notices relate to regulations governing the composition of the Board.

Details of the Notices

The notices received are in connection with the failure to appoint a One Woman Independent Director on the Board of the Company for the quarter ended September 30, 2025. The company faces a fine of ₹5,42,800 from both the NSE and BSE.

Company’s Response

Chennai Petroleum Corporation Ltd. has communicated to the BSE and NSE that, as a Government Company, the authority to appoint Directors, including Independent Directors, lies with the MoP&NG, Govt. of India. The company asserts that the non-appointment was not due to negligence or fault on their part. They have requested that the fines be waived.

Ongoing Efforts

Chennai Petroleum Corporation Ltd. is actively engaging with the MoP&NG to facilitate the appointment of the required number of Independent Directors, including a Woman Independent Director, to ensure compliance with corporate governance standards.

Previous Notices

The Company has received similar notices previously and has filed waiver requests which were considered favourably by the Exchanges.

Source: BSE

Bharat Petroleum Corporation Limited (BPCL) has entered into a tripartite agreement with M/s. Data Software and Research Co. Pvt. Ltd. (Old RTA) and M/s. KFin Technologies Limited (New RTA) for RTA (Registrar and Transfer Agent) services. The agreement, effective from November 26, 2025, aims to streamline and enhance the management of shareholder records and related services.

RTA Service Agreement

Bharat Petroleum Corporation Limited (BPCL) has formalized a tripartite agreement to enhance its Registrar and Transfer Agent (RTA) services. The agreement, effective November 26, 2025, includes M/s. Data Software and Research Co. Pvt. Ltd. (Old RTA) and M/s. KFin Technologies Limited (New RTA).

Details of the Agreement

This agreement is designed to improve the efficiency and accuracy of managing shareholder records. The inclusion of M/s. KFin Technologies Limited aims to leverage their expertise in RTA services, ensuring better service delivery and compliance.

Source: BSE

One 97 Communications (Paytm) has completed the acquisition of the remaining stake in Foster Payment Networks Private Limited, Paytm Insuretech Private Limited, and Paytm Financial Services Limited (PFSL). All three entities are now wholly owned subsidiaries (WOS) of Paytm, effective November 28, 2025. This move simplifies the group structure, streamlining operations and improving strategic alignment.

Group Structure Streamlined

One 97 Communications, operating under the brand name Paytm, announced the successful completion of the acquisition of the remaining shares in three key subsidiaries. This strategic move aims to simplify the overall group structure, enhancing operational efficiency and strategic focus.

Acquisition Details

Effective November 28, 2025, Paytm has acquired 9.99% equity shares of Foster Payment Networks Private Limited, 67.55% equity shares of Paytm Insuretech Private Limited, and 51.22% equity shares of Paytm Financial Services Limited (“PFSL”). As a result of these transactions, all three entities have become wholly owned subsidiaries (WOS) of One 97 Communications Limited.

Impact on Other Entities

Further, as a consequence of Paytm’s 100% acquisition of PFSL, other entities in which PFSL has investments, including Admirable Software Limited, Mobiquest Mobile Technologies Private Limited, Urja Money Private Limited, and Fincollect Services Private Limited, now become step-down wholly owned subsidiaries of the company, effective November 28, 2025. These acquisitions reflect the company’s ongoing efforts to optimize its corporate structure and ensure closer operational integration across its various businesses.

Source: BSE

One 97 Communications has successfully completed the transfer of its Offline Merchant Payments Business to its wholly-owned subsidiary, Paytm Payments Services Limited (PPSL). The transfer, executed on November 28, 2025, became effective from midnight of November 30, 2025. This strategic move aims to streamline operations and comply with regulatory guidelines. Key management personnel will also transition to PPSL.

Offline Business Transferred

One 97 Communications has completed the transfer of its Offline Merchants Payment Business to Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary. The Business Transfer Agreement (BTA) was executed on November 28, 2025, following shareholder approval on November 23, 2025. The transfer is effective from midnight on November 30, 2025.

Management Personnel Transition

As part of the transfer, Mr. Ripunjai Gaur, COO – Offline Payments, and Mr. Deependra Singh Rathore, CTO – Payments, will also be transferred to PPSL. They will transition effective November 30, 2025, and cease to be Senior Management Personnel (SMPs) of One 97 Communications.

Agreement Details

The transfer will be for a lump sum cash consideration based on the book value of the assets and liabilities of the Transferred Undertaking as of the effective date. For reference, the book value of the Transferred Undertaking as of March 31, 2025, is approximately INR 960 Crores.

PPSL is a wholly-owned subsidiary of One 97 Communications and the transfer is part of an internal restructuring intended to consolidate related business within a dedicated subsidiary.

Source: BSE

ICICI Prudential Life Insurance has received Reserve Bank of India approval for the sale of its pension funds management company to ICICI Bank. This approval, received on November 27, 2025, is subject to specific conditions, including clearance from pension fund regulatory bodies. The sale involves 100% of the equity shareholding and follows the initial intimation made on July 19, 2025.

Pension Fund Sale Receives Bank Approval

ICICI Prudential Life Insurance has received key approval for the sale of its entire stake in ICICI Prudential Pension Funds Management Company to ICICI Bank. The announcement confirms that the Reserve Bank of India (RBI) has granted its approval via a letter dated November 27, 2025.

Details of the Transaction

The sale involves 100% of ICICI Prudential’s equity shareholding in its Pension Funds Management Company. This decision, initially disclosed on July 19, 2025, is now progressing towards completion, pending final regulatory clearances.

Conditions for Finalization

The RBI’s approval is subject to certain conditions, including clearance from Pension Fund Regulatory and Development Authority. Once these conditions are met, the sale to ICICI Bank can be finalized, marking a significant development for both entities.

Source: BSE

One 97 Communications (Paytm) has finalized the transfer of its Offline Merchant Payments Business to Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary. The transfer, approved by shareholders on November 23, 2025, became effective at midnight on November 30, 2025. Certain Senior Management Personnel (SMPs) have also transitioned to PPSL as part of the agreement.

Offline Business Transfer Completed

One 97 Communications Limited (Paytm) has completed the transfer of its Offline Merchants Payment Business to its wholly-owned subsidiary, Paytm Payments Services Limited (PPSL). The transfer follows shareholder approval received on November 23, 2025, and the Business Transfer Agreement (BTA) execution on November 28, 2025.

Effective Date & Personnel Changes

The business transfer officially took effect from midnight on November 30, 2025. In addition to the transfer of the business, Mr. Ripunjai Gaur (COO – Offline Payments) and Mr. Deependra Singh Rathore (CTO – Payments), previously designated as Senior Management Personnel (SMPs) at Paytm, have also been transferred to PPSL, effective the same date. Consequently, they no longer serve as SMPs of One 97 Communications Limited.

Financial Details

The transfer involves a lump sum cash consideration based on the book value of the assets and liabilities of the transferred business. As of March 31, 2025, the book value of the Transferred Undertaking is approximately INR 960 Crores.

Source: BSE

CareEdge Ratings has withdrawn its rating on EIH Limited’s commercial paper at the company’s request, as there is no outstanding amount against it. The company manages 29 hotels with a total room inventory of 4,144 rooms as of September 30, 2025, operating under the ‘Oberoi’ and ‘Trident’ brands. This move simplifies EIH’s financial reporting.

Commercial Paper Rating Withdrawn

EIH Limited [“EIHL”] has received confirmation that CareEdge Ratings has officially withdrawn the rating assigned to its commercial paper. This action was taken at the request of the company following a complete settlement, with no outstanding amounts remaining against the commercial paper. The official withdrawal date is November 27, 2025.

Company Operations

EIH Limited is a prominent player in the hospitality sector, managing a total of 29 hotels, which includes owning 9 hotels and managing 21 hotels through management contracts. As of September 30, 2025, the company boasts a significant room inventory of 4,144 rooms, operating under the prestigious ‘Oberoi’ and ‘Trident’ brands.

Financial Highlights

The company’s financial performance shows a positive trajectory. Total operating income for the year ended March 31, 2025, was ₹2,743.15 crore, up from ₹2,511.46 crore the previous year. The Profit Before Interest, Depreciation, and Tax (PBILDT) stood at ₹1,028.24 crore, and Profit After Tax (PAT) was reported as ₹769.90 crore for the same period. In the first half of FY26, the total operating income was ₹1,172.12 crore and the PAT was ₹314.56 crore.

Source: BSE

NTPC Limited announces that the resolution plan submitted by the consortium of NTPC and MAHAGENCO for Sinnar Thermal Power Limited (STPL) has been approved by the National Company Law Tribunal (NCLT), Delhi on November 28, 2025. The implementation is subject to the terms and applicable laws.

Resolution Plan Approval

The resolution plan submitted by the consortium of NTPC Limited and Maharashtra State Power Generation Company Limited (MAHAGENCO) for Sinnar Thermal Power Limited (STPL) has received approval. This significant milestone was reached on November 28, 2025, with the National Company Law Tribunal (NCLT), Delhi, granting its approval.

Details of Sinnar Thermal Power Limited

STPL, undergoing Corporate Insolvency Resolution Process (CIRP), owns a coal-based thermal power plant. The plant has a capacity of 5X270 MW (1350MW) and is located in Sinnar, Nashik, Maharashtra.

Implementation Contingencies

The implementation of this resolution plan is contingent upon the terms outlined within the plan. It is also subject to the approval order of NCLT, Delhi, along with applicable laws.

Source: BSE