Jubilant Pharmova’s wholly-owned subsidiary, Jubilant Biosys Limited, has received an order confirming demand of GST, interest, and penalty for the financial year 2021-2022. The order was issued by the Deputy Commissioner of Commercial Taxes, Mysuru. The company will contest the order and does not expect a significant financial or operational impact.

GST Demand Notification

Jubilant Biosys Limited, a subsidiary of Jubilant Pharmova, has received an Adjudication Order relating to GST for the financial year 2021-2022. The order was issued by the Deputy Commissioner of Commercial Taxes located in Mysuru.

Order Details

The tax demand amounts to ₹6,64,82,025, and the interest levied is ₹4,31,78,702. Additionally, a penalty of ₹66,48,202 has been imposed. The dispute primarily pertains to issues regarding the availment and reversal of Input Tax Credit (ITC) during the specified financial year.

Company Response

Jubilant Pharmova intends to file an appeal contesting the order before the GST Appellate Authority. The company believes the order is legally incorrect and anticipates no significant financial or operational repercussions as a result of this matter.

Source: BSE

Sonata Software has announced a series of one-on-one meetings with institutional investors and analysts scheduled for December 5, 2025. The meetings include discussions with Invesco Asset Management, ICICI Prudential AMC, Tata Asset Management Ltd, and One Up Financial Consultant. These meetings will be physical and held in Mumbai.

Investor/Analyst Meetings

Sonata Software is conducting one-on-one meetings with key institutional investors and analysts on December 5, 2025. These meetings are designed to provide insights into the company’s performance and future strategies.

Meeting Schedule

The following meetings are scheduled:

Meeting Details

Date: December 5, 2025

Location: Mumbai

8:30 AM – 9:30 AM (IST)

Invesco Asset Management

Mode: Physical

10:30 AM – 11:30 AM (IST)

ICICI Prudential AMC

Mode: Physical

12:00 PM – 1:00 PM (IST)

Tata Asset Management Ltd

Mode: Physical

1:30 PM – 2:30 PM (IST)

One Up Financial Consultant

Mode: Physical

Source: BSE

The Hon’ble Madras High Court has quashed proceedings initiated under Section 74 of the CGST Act against Apollo Tyres regarding a demand of ₹2,791 million. This legal victory effectively sets aside the entire demand. The initial litigation was disclosed on August 14, 2023. The details of the ruling were provided in an announcement dated December 5, 2025.

Favorable Court Decision

Apollo Tyres has received a favorable ruling from the Hon’ble Madras High Court. The court’s decision effectively nullifies proceedings related to a demand of ₹2,791 million. This resolves a significant legal matter for the company.

Details of the Ruling

The proceedings, initiated under Section 74 of the CGST Act, have been quashed by the court. This action means the entire demand of ₹2,791 million has been set aside, removing a substantial contingent liability from Apollo Tyres’ books. The matter pertained to composite supply issues.

Initial Disclosure

The initial notification regarding the pending litigation involving the sum of ₹2,791 million was released on August 14, 2023. The recent court decision marks a positive resolution to this previously disclosed issue.

Source: BSE

Alkem Laboratories has announced the appointment of Mr. Prakash Ramnani as a senior management personnel, effective from December 5, 2025. Mr. Ramnani brings over 25 years of professional experience in pharmaceutical manufacturing operations and technology transfer. The appointment aims to strengthen the company’s leadership team.

Senior Management Appointment

Alkem Laboratories has appointed Mr. Prakash Ramnani to a senior management position within the company. The appointment took effect on December 5, 2025.

Professional Background

Mr. Ramnani has completed his M. Pharm and B. Pharm degrees. He brings with him over 25 years of professional experience in the pharmaceutical sector, specifically in the areas of manufacturing operations and technology transfer. His extensive background is expected to contribute to Alkem Laboratories’ strategic initiatives.

Source: BSE

Shri Jagdish Chandra Belwal (DIN:08644877) has completed his tenure as a Non-Executive Independent Director of Solar Industries India Limited, effective December 5, 2025. The Board acknowledges Belwal’s contributions during his association with the company. Belwal ceased to be a director with effect from December 5, 2025.

Director’s Tenure Completion

Shri Jagdish Chandra Belwal (DIN:08644877), Non-Executive Independent Director of Solar Industries India Limited, has completed his tenure. This became effective from the close of business hours on December 5, 2025.

Acknowledgment of Contributions

The Board of Directors and Management have expressed their sincere appreciation for Shri Jagdish Chandra Belwal’s contributions throughout his years of service to the Company. The announcement confirms that Shri Belwal ceased to be a Director with effect from December 5, 2025.

Source: BSE

Union Bank of India has announced the exercise of a call option on certain bonds. The redemption payment for bonds with ISIN INE692A08128 will be December 12, 2026, and for bonds with ISIN INE692A08136, it will be January 29, 2026. This action is subject to regulatory approval.

Call Option Exercised

Union Bank of India has exercised the call option on some of its bonds. The details are as follows:

Bond Redemption Details

Bond Series XXVIII

• ISIN: INE692A08128
• Issue Size: ₹ 1000 Crores
• Coupon Rate: 8.64%
• Date of Redemption Payment: 12-01-2026
• Record Date: 26-12-2025

Bond Series XXIX

• ISIN: INE692A08136
• Issue Size: ₹ 205 Crore
• Coupon Rate: 8.73%
• Date of Redemption Payment: 29-01-2026
• Record Date: 14-01-2026

If any coupon or redemption payment date falls on a non-business day, the payment will be made on the next business day. Consequently, payment for ISIN INE692A08128 is scheduled for 12-01-2026 instead of 11-01-2026.

Source: BSE

Birlasoft has announced the grant of options under its “Birlasoft Share Incentive Plan-2022”. The plan was approved by the Board of Directors on May 23, 2022, and the Members of the Company on August 3, 2022. A total of 9,50,000 options have been granted. The exercise price is set at Rs. 2/- per option. Each option entitles the holder to one share.

Share Incentive Plan Details

Birlasoft has officially announced the granting of options under its “Birlasoft Share Incentive Plan-2022” (“Plan”). This decision follows approvals from the Board of Directors on May 23, 2022, and from the Members of the Company during the Annual General Meeting held on August 3, 2022. The Nomination and Remuneration Committee (“NRC”) has formally approved the grant to eligible employees.

Key Terms of the Option Grant

The essential details regarding this option grant are as follows:

Number of Options: 9,50,000

Vesting Schedule & Exercise Period: Determined by the NRC in accordance with the terms of the Plan.

Exercise Price: Rs. 2/-

Additional Information

Each option granted under this plan gives the holder the right to convert it into one share of the company. All stakeholders are requested to take note of the same.

Source: BSE

Alkem Laboratories has received a Goods and Services Tax (GST) order for fiscal years 2018-2019 to 2022-2023 demanding ₹27,14,603 in GST, along with a penalty of ₹27,79,266 and applicable interest. The company is contesting the order, which primarily alleges excess availment of ITC. The order was received on December 3, 2025.

GST Order Details

Alkem Laboratories has been notified by the Assistant Commissioner, Central Goods & Service Tax Division, Dehradun, Uttarakhand, regarding a GST order. The order pertains to the financial period spanning from F.Y. 2018-2019 to 2022-2023.

Financial Implications

The order demands GST of ₹27,14,603 along with a penalty of ₹27,79,266. It also includes applicable interest charges as outlined under the CGST/ SGST/ IGST Act, 2017. The company received this order on December 3, 2025.

Company Response

Alkem Laboratories is currently contesting the GST order. The company disagrees with the demand, which mainly alleges excess availment of Input Tax Credit (ITC). The company is in the process of taking appropriate actions, including the filing of an appeal. The company believes that the order will not have material impact on financial operations.

Source: BSE

Choice International has allotted 79,87,667 equity shares following the conversion of warrants, raising INR 179,72,25,075. This allotment, made on December 05, 2025, increases the company’s paid-up equity share capital to INR 222,77,65,000, comprising 22,27,76,500 equity shares. The beneficiaries of the warrant conversion were Plutus Wealth Management LLP and Soansrishti Properties Private Limited.

Equity Share Allotment Details

On December 05, 2025, Choice International’s committee approved the allotment of 79,87,667 equity shares, each with a face value of INR 10, upon the exercise of outstanding warrants. This followed an earlier intimation dated June 06, 2024 regarding the initial warrant allotment.

Breakdown of Allotment

The equity shares were allotted upon receiving the balance 75% of the consideration amount, totaling INR 179,72,25,075. The specific allocation is as follows:

• 66,66,667 Equity Shares to M/s. Plutus Wealth Management LLP for INR 150,00,00,075.
• 13,21,000 Equity Shares to M/s. Soansrishti Properties Private Limited for INR 29,72,25,000.

Impact on Share Capital

Following the allotment, the company’s paid-up equity share capital has increased to INR 222,77,65,000, divided into 22,27,76,500 Equity Shares with a face value of INR 10 each. All previously issued warrants, totaling 2,31,21,000, have now been fully converted.

Updated Shareholding Pattern

The shareholding pattern has been adjusted to reflect the new allotment.

Shareholding Before Allotment

• M/s. Plutus Wealth Management LLP: 1,33,33,333 shares (6.21%)

Shareholding After Allotment

• M/s. Plutus Wealth Management LLP: 2,00,00,000 shares (8.98%)
• Soansrishti Properties Private Limited: 31,21,000 shares (1.40%)

Source: BSE

Suzlon Energy announced a reduction in the penalty initially imposed by the State GST authority, Gujarat, on its subsidiary (now merged). The penalty has been reduced from ₹19,54,890 to ₹50,000. The Deputy Commissioner of State Tax, Appeal, Gandhidham, accepted the company’s submission. The balance amount of ₹19,04,890 will be refunded to Suzlon in due course.

Penalty Reduction Announcement

Suzlon Energy has received a favorable modification regarding a penalty imposed earlier by the State GST authority, Gujarat. The initial penalty, levied on Suzlon Global Services Limited (now merged with Suzlon Energy), has been substantially reduced following a successful appeal.

Details of the Reduced Penalty

The Deputy Commissioner of State Tax, Appeal, Gandhidham, Gujarat, has revised the penalty amount to ₹50,000. This is a significant reduction from the original penalty of ₹19,54,890. The company is set to receive a refund of ₹19,04,890, representing the difference between the original and reduced penalty amounts. The penalty revision was announced on December 5th, 2025.

Reason for the Penalty

The penalty was related to contravention of e-way bill provisions under the GST Act, 2017. Following the appeal, the authorities accepted Suzlon’s submission, leading to the reduced penalty amount.

Source: BSE