The Board of Directors of Indian Railway Finance Corporation (IRFC) addressed a fine levied by the stock exchanges for non-compliance related to Board composition and committee structures. The Board is seeking a waiver of the fine and is working with the Ministry of Railways (MOR) to expedite the appointment of required Independent Directors. Similar fines have been waived previously by NSE & BSE.

Response to Exchange Fine

Indian Railway Finance Corporation (IRFC) has addressed a fine imposed by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) due to non-compliance regarding the composition of the Board and its committees. This matter was discussed at the Board meeting held on September 19, 2025.

Key Non-Compliance Areas

The non-compliance pertains to the composition of the Board, the quorum of Board meetings, and the constitution of key committees including the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee. The fine was imposed for the quarter ending June 30, 2025.

Seeking Waiver and Ministerial Intervention

The Board has requested the stock exchanges to waive the fine. They are also working with the Ministry of Railways (MOR) to expedite the appointment of the requisite number of Independent Directors to the Board. The company emphasizes that the appointment of Directors is beyond its direct control, as it is a Government Company.

Precedent of Fine Waivers

IRFC notes that similar non-compliance fines imposed by NSE and BSE have been waived in the past, specifically for the period from March 2021 to December 2021. The company hopes for a similar resolution in this instance.

Source: BSE

Mahanagar Gas Limited (MGL) has released a confirmation certificate concerning the handling of securities received for dematerialization. This certificate, provided by MUFG Intime India Private Limited, covers the quarter and half-year ended September 30, 2025. It confirms that all security certificates received for dematerialization have been duly processed and verified.

Certificate of Confirmation

Mahanagar Gas Limited (MGL) has received a certificate from their Registrar and Share Transfer Agent, MUFG Intime India Private Limited, regarding the processing of share certificates. The certificate pertains to the Q2 (July-September) and first half of the financial year 2025.

Details of Compliance

The certificate confirms that all securities received from depository participants for dematerialization during the quarter ended September 30, 2025, have been confirmed and processed. This includes verification and cancellation of the security certificates after due verification, ensuring compliance with regulatory requirements.

Source: BSE

Oracle Financial Services Software confirms that all details of securities dematerialized during the quarter ended September 30, 2025, have been furnished to all stock exchanges as required. A confirmation letter from their Registrar and Transfer Agent (RTA), KFin Technologies Limited, dated October 9, 2025, confirms compliance and is enclosed for reference. This ensures adherence to regulatory requirements.

Securities Dematerialization Confirmation

Oracle Financial Services Software has certified the details regarding the dematerialization of securities for the quarter ending September 30, 2025. This announcement, dated October 9, 2025, confirms that the necessary information has been provided to all relevant stock exchanges.

Compliance with Regulations

The company states it has complied with all requirements related to the dematerialization of securities. All stock exchanges where Oracle Financial Services Software shares are listed have received the required information. This ensures transparency and adherence to regulatory guidelines.

RTA Confirmation

A letter from KFin Technologies Limited, the company’s Registrar and Transfer Agent (RTA), confirms that the requirements have been met. This letter, dated October 9, 2025, serves as additional verification and is enclosed for reference. The RTA plays a vital role in ensuring the accuracy and integrity of the dematerialization process.

Source: BSE

Hitachi Energy India has received a Compliance Certificate from KFin Technologies Limited, the Registrar and Share Transfer Agent, confirming compliance with SEBI regulations for the quarter ended September 30, 2025. This certificate assures that all securities dematerialized/rematerialized during the quarter have been duly processed and reported to the stock exchanges, ensuring adherence to regulatory standards and maintaining investor confidence.

Compliance Confirmation

Hitachi Energy India Limited has received a Compliance Certificate pertaining to regulatory requirements concerning depository participants. The certificate, issued by KFin Technologies Limited, validates the company’s adherence to stipulations for the quarter ending September 30, 2025.

Role of KFin Technologies

KFin Technologies Limited, acting as the Registrar and Share Transfer Agent (RTA) for Hitachi Energy India, has confirmed that all requirements related to the handling of securities have been met. This includes the processing of securities that have been dematerialized or rematerialized during Q2 (July-September).

Adherence to Regulations

The Compliance Certificate affirms that the details of securities-related transactions have been duly furnished to all stock exchanges where Hitachi Energy India’s shares are listed. This process ensures transparency and compliance with regulatory standards, as confirmed in the certificate dated October 4, 2025.

Source: BSE

An order has been passed against Deepak Phenolics Limited (DPL), a wholly-owned subsidiary of Deepak Nitrite, by the Additional Commissioner, CGST & Central Excise, Vadodara-I, Vadodara. The order pertains to the recovery of ineligible Input Tax Credit of ₹2,15,34,798 along with penalty under the GST Act. Deepak Nitrite believes DPL has a strong case and will appeal the order.

Details of the Order

An order has been issued against Deepak Phenolics Limited (DPL), a subsidiary of Deepak Nitrite, by the Additional Commissioner, CGST & Central Excise, Vadodara-I. The order, dated October 8, 2025, addresses certain input tax credit claims.

Financial Implications and Actions

The authorities have ordered the recovery of ineligible Input Tax Credit amounting to ₹2,15,34,798 (CGST & SGST each ₹1,07,67,399) along with applicable interest. A penalty of ₹2,15,34,798 (CGST & SGST each ₹1,07,67,399) has also been imposed under the GST Act.

Company Stance and Way Forward

Deepak Nitrite maintains that DPL has availed input tax credit in compliance with the GST Law. The company believes its position is legitimate and has obtained an independent expert legal opinion. DPL intends to pursue all available legal options, including filing an appeal against the order before the relevant appellate authority.

Impact Assessment

The company anticipates no material financial impact beyond the aforementioned amounts. The legal team is diligently handling the matter and is confident in its ability to resolve the issues.

Source: BSE

An open offer for the acquisition of up to 197,025,660 equity shares of Fortis Healthcare Limited has commenced. The offer is made by Northern TK Venture Pte. Ltd., together with IHH Healthcare Berhad and Parkway Pantai Limited. The offer price is INR 170 per equity share, along with an applicable interest of INR 53.80 per share for original shareholders. The tendering period is scheduled to close on November 4, 2025.

Open Offer Details

An open offer has been initiated by Northern TK Venture Pte. Ltd., along with IHH Healthcare Berhad and Parkway Pantai Limited, to acquire up to 197,025,660 equity shares of Fortis Healthcare Limited. This represents 26.10% of the expanded voting share capital. The announcement was made on October 9, 2025.

Offer Price and Interest

The offer price is set at INR 170 per equity share. Original shareholders are entitled to an applicable interest of INR 53.80 per equity share. This applies only to those who held shares as of December 4, 2018, and continue to hold them. The interest is for the period from September 22, 2022 to November 19, 2025.

Tendering Period

The tendering period for the open offer will commence on October 20, 2025, and close on November 4, 2025. Equity shareholders are invited to participate in the offer by tendering their shares during this period.

Managers to the Offer

HSBC Securities and Capital Markets (India) Private Limited, HDFC Bank Limited, Citigroup Global Markets India Private Limited and Deutsche Equities India Private Limited are acting as the joint managers to the Open Offer.

Source: BSE

Natco Pharma has received a favorable ruling as the Commercial Appellate Division of the Delhi High Court dismissed an appeal regarding Risdiplam. This clears the path for Natco to launch its generic version of the drug used to treat Spinal Muscular Atrophy (SMA) in India. The company plans to launch the product immediately, priced at INR 15,900, with potential discounts for eligible patients.

Favorable Court Ruling

The Commercial Appellate Division of the Hon’ble Delhi High Court has dismissed an appeal, paving the way for Natco Pharma to launch its generic version of Risdiplam in India. The original order denying an injunction against Natco was dated March 24, 2025. This recent dismissal effectively removes the final hurdle for the company.

Risdiplam and SMA Treatment

Risdiplam is a medication used in the treatment of Spinal Muscular Atrophy (SMA), a debilitating disease. With the court’s decision, Natco Pharma can now provide a more affordable treatment option to Indian patients. The company highlights the lack of curative options and the financial challenges faced by Indian patients when accessing available treatments.

Launch and Pricing Details

Natco Pharma intends to launch Risdiplam immediately, pricing it at INR 15,900 per unit. The company is also considering offering discounts to certain patients in need through a dedicated patient access program. This initiative aims to make the treatment more accessible.

About Natco Pharma

Natco Pharma is an Indian pharmaceutical company specializing in the development, manufacture, and distribution of generic and branded drugs, specialty pharmaceuticals, active pharmaceutical ingredients, and crop protection products. They maintain 9 manufacturing sites and 2 R&D facilities within India. They cater to 50+ global markets.

Source: BSE

Emami Limited has received the certificate under the SEBI (Depositories and Participants) Regulations for the quarter ended September 30, 2025 (Q2 FY26). This certificate, received from Maheshwari Datamatics Pvt. Ltd., confirms compliance with regulatory requirements and is available on the company’s website. The certificate validates the proper handling of dematerialized securities, ensuring investor confidence and regulatory adherence.

Certificate of Compliance

Emami Limited confirms the receipt of the certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2025.

Details of Certification

The certificate was received from M/s. Maheshwari Datamatics Pvt. Ltd., the Registrar and Share Transfer Agent of Emami Limited. It verifies the activities related to dematerialization and reconciliation of securities for Q2 FY26.

Confirmation from Registrar

Maheshwari Datamatics Pvt. Ltd. has confirmed compliance regarding dematerialization as per Regulation 74(5). They have sent the Demat Transfer Register for the period July 1, 2025 to September 30, 2025, to the relevant depositories and stock exchanges.

Destruction of Securities

The Registrar also confirms having destroyed, mutilated, or cancelled all securities received from the concerned DPs after dematerialization within the stipulated time, ensuring adherence to regulatory requirements.

Source: BSE

Lemon Tree Hotels has announced the opening of Keys Lite by Lemon Tree Hotels, Jaipur, marking its 12th property in Rajasthan and its third in Jaipur. The hotel features 50 well-appointed rooms, a multi-cuisine restaurant, and a fitness center. This new property aims to offer guests a comfortable, efficient, and value-driven stay experience, further solidifying Lemon Tree’s presence in Rajasthan’s capital.

New Hotel Launch in Jaipur

Lemon Tree Hotels Limited has launched Keys Lite by Lemon Tree Hotels in Jaipur. This marks the company’s 12th property in Rajasthan and its third in the city.

Hotel Features and Amenities

The newly opened Keys Lite in Jaipur features 50 well-appointed rooms, offering a comfortable and value-driven stay. The hotel also includes a multi-cuisine restaurant called Keys Café and a fitness center.

Strategic Expansion in a Key Market

Jaipur, known as the Pink City, is a popular destination for both leisure and business travelers. The addition of Keys Lite strengthens Lemon Tree Hotels’ presence in this vibrant market. The company aims to provide exceptional comfort, quality, and a refreshing experience for its guests.

Lemon Tree Hotels Portfolio

Lemon Tree Hotels Limited operates over 120 hotels across 75+ cities in India and abroad. The company has a pipeline of over 110 upcoming properties. The group caters to a wide range of customers with its seven distinct brands, including Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox, Keys Prima, Keys Select, and Keys Lite.

Source: BSE