UltraTech Cement has received an order from the Joint Commissioner, Central Goods and Services Tax & Central Excise, Patna. The company is reviewing the order, which alleges short payment of GST and improper utilization of Input Tax Credit from 2018-19 to 2022-23. UltraTech is considering all legal options to contest the demand. The company does not anticipate any operational or financial impact.

Details of the Order

UltraTech Cement has been notified of an order issued by the Joint Commissioner, Central Goods and Services Tax & Central Excise, Patna, concerning alleged discrepancies in GST payments.

Key Issues Raised

The order pertains to alleged short payment of GST and improper utilization of Input Tax Credit during the financial years 2018-19 to 2022-23. The tax liability is ₹3,90,95,58,194 plus applicable interest. There is also an additional interest amount of Rs 27,68,289 and a penalty of ₹3,90,95,58,194.

Company’s Response

UltraTech Cement is currently reviewing the order and is actively exploring all available legal avenues to challenge the demand. The company believes that the order was passed without due consideration of the submissions made.

Impact Assessment

UltraTech Cement does not anticipate any significant operational or financial repercussions as a result of this order. The company is committed to pursuing a resolution through appropriate legal channels and is confident in its position.

Source: BSE

Minda Corporation has granted employee stock options under its 2017 scheme. This includes 57,388 options effective December 20, 2025, and stock options worth INR 3 Crores each, to be determined based on share prices on April 1, 2026, and April 1, 2027. Each option converts to one equity share at a face value of Rs. 2/-, exercisable at Rs. 2/- per option.

Employee Stock Option Grant Details

Minda Corporation has approved the grant of stock options to its employees, effective December 20, 2025. The options are granted under the “Minda Corporation Employee Stock Option Scheme 2017”.

Key Highlights of the Grant

The grant includes the following:

Pricing and Conversion

Each stock option is convertible into 1 equity share of face value Rs. 2/-. The options are exercisable at a face value of Rs 2/- per option.

Vesting Schedule

The vesting schedule for the granted options is as follows:

Exercise Period

The options may be exercised within a period of one year from the date of vesting.

Source: BSE

PVR INOX has announced the opening of a 2-screen multiplex in Solar Colony, Saboo, Leh, Ladakh, operating under the Franchise Owned Company Operated (FOCO) model. Equipped with 2K projection and Dolby 7.1 sound, this launch expands PVR INOX’s network to 1,774 screens across 356 properties in 112 cities, including India and Sri Lanka.

New Multiplex in Leh

PVR INOX Limited has launched a new 2-screen multiplex in Leh, Ladakh. The multiplex is located in Solar Colony, Saboo, and operates under the Company’s Franchise Owned Company Operated (FOCO) model. This launch marks a significant expansion of PVR INOX’s presence in India.

Cinema Features

The new cinema is equipped with advanced technology to enhance the viewing experience. It features 2K projection for clear visuals, Dolby 7.1 surround sound, and Next-Gen 3D support. The custom audio system delivers rich, immersive sound, ensuring a high-quality cinematic experience.

Expanded Network

With the launch of the Leh multiplex, PVR INOX now operates a vast network of 1,774 screens across 356 properties in 112 cities, including locations in both India and Sri Lanka. This expansion reinforces PVR INOX’s position as a leading cinema operator.

India’s Highest Cinema Site

PVR INOX introduces Leh-Ladakh’s first multiplex, offering a spectacular two-screen experience with cutting-edge technology and premium hospitality at 11,500 feet.

Culinary Experience

The multiplex introduces Leh’s first-ever food court in partnership with Devyani International Limited, featuring brands like KFC, Pizza Hut, Costa Coffee, and Vaango.

Statements

Mr. Ajay Bijli, Managing Director, PVR INOX Limited, said, “Launching a multiplex in Leh is a truly proud moment for us. Few places in the world offer a setting as extraordinary as Ladakh, and bringing world-class cinema to 11,500 feet reflects our commitment to reaching audiences everywhere. This destination blends the magic of movies with the majesty of the mountains, making it a remarkable addition to the PVR INOX journey.”

Mr. Sanjeev Kumar Bijli, Executive Director, PVR INOX Limited, shared, “Each time we enter a new region, our goal is to create a space that fits naturally into its environment while elevating the community’s entertainment experience. Launching India’s highest multiplex in Leh is a proud moment for us as it reflects our commitment to innovative, design-led expansion and our belief that world-class cinema should reach audiences everywhere.”

Source: BSE

Emami Limited has received an order imposing a penalty related to differences in Input Tax Credit (ITC) claims. The order includes a tax demand of Rs. 13,37,974, interest of Rs. 13,30,402, and a penalty of Rs. 13,69,778. The company intends to appeal the order, seeing no material impact on its financial or operational activities.

Details of the Order

Emami Limited received an order from the Office of the Superintendent, Kotwali Range, Patna Central Division, Patna I, Ranchi, CBIC, Bihar on December 19, 2025. The order pertains to Section 74 of the Bihar GST / CGST / IGST Act, 2017.

Financial Implications

The order includes:

• Tax demand: Rs. 13,37,974
• Interest: Rs. 13,30,402
• Penalty: Rs. 13,69,778

Nature of the Issue

The issue relates to differences between Input Tax Credit (ITC) claimed as per GSTR 3B versus ITC reflected as per GSTR 2A.

Impact and Response

The company believes that there will be no material impact on its financial or operational activities as a result of this order. Emami Limited intends to explore filing an appeal against the order.

Source: BSE

Craftsman Automation announces the successful completion of the acquisition of Suprash Developers Private Limited and its wholly-owned subsidiary, Srikara Technologies Private Limited, by DR Axion India Private Limited. This acquisition, initially announced on December 19, 2025, has been finalized, with DR Axion securing 100% ownership of Suprash, and indirectly, Srikara. This move aims to bolster Craftsman Automation’s strategic expansion and diversification efforts.

Acquisition Successfully Concluded

Craftsman Automation Limited has successfully completed the acquisition of Suprash Developers Private Limited and its wholly-owned subsidiary, Srikara Technologies Private Limited, through its subsidiary DR Axion India Private Limited. The initial announcement regarding the Share Purchase Agreement (SPA) was made on December 19, 2025.

Details of the Transaction

DR Axion India Private Limited has acquired 100% of the paid-up equity share capital of Suprash Developers Private Limited. This acquisition also indirectly covers 100% ownership of Srikara Technologies Private Limited, the wholly-owned subsidiary of Suprash. This acquisition is expected to contribute positively to Craftsman Automation’s strategic goals and operational synergies.

Source: BSE

CEAT Limited has announced the issuance of a letter of confirmation for duplicate share certificates, as received from NSDL Database Management Limited. This communication, dated December 20, 2025, provides details of the share certificates, including folio numbers, number of shares, and distinctive numbers. The company has submitted this information for records and dissemination.

Duplicate Share Confirmation

CEAT Limited has issued a confirmation regarding duplicate share certificates, as detailed in the communication from NSDL Database Management Limited. This includes specific information about shareholders and their holdings.

Details of Issued Certificates

The following table summarizes the key details of the confirmed duplicate share certificates:

Folio No: ZVT0000324
Issue Date: December 2, 2025
Shareholder: TR NARAYANA MURTHY, TR HARI PRASAD
Certificate Number: 46382
Number of Shares: 1
Distinctive Nos: 4127842 to 4127842

Folio No: ZVS0000311
Issue Date: December 2, 2025
Shareholder: SHARADCHANDRA TRIMBAK PUNTAMBEKAR, PRABHA SHARADCHANDRA PUNTAMBEKAR
Certificate Number: 46383
Number of Shares: 63
Distinctive Nos: 3924924 to 3924986

Folio No: ZVA0002340
Issue Date: December 2, 2025
Shareholder: A PRIYANCA RAO
Certificate Number: 46384
Number of Shares: 353
Distinctive Nos: 2969175 to 2969527

Folio No: ZVK0000928
Issue Date: December 2, 2025
Shareholder: KANUBHAI PATEL, MAHESHWARI PATEL
Certificate Number: 46385
Number of Shares: 18
Distinctive Nos: 3351124 to 3351141

Source: BSE

ICICI Prudential Life Insurance Company has received an order related to Goods and Services Tax (GST) for the financial year FY2022. The order, received on December 19, 2025, includes a GST amount of ₹171,107,052 and a penalty of ₹17,110,704, totaling ₹188,217,756. The company intends to file an appeal against the order.

GST Order Details

ICICI Prudential Life Insurance Company has received an order regarding Goods and Services Tax (GST) for the fiscal year FY2022. The order was issued by the Additional Commissioner, Telangana State, and was received on December 19, 2025, at 4:16 p.m.

Financial Implications

The order includes a GST component of ₹171,107,052 and a penalty of ₹17,110,704. The total amount demanded is ₹188,217,756. No interest has been charged.

Company Response

ICICI Prudential Life Insurance Company intends to appeal the order before the Commissioner (Appeals) within the stipulated timelines. The company maintains that the issue pertains to the non-reversal of Input Tax Credit (ITC) as per GST law.

Source: BSE