Chambal Fertilisers and Chemicals Limited has received an order imposing a GST penalty amounting to ₹5,26,84,73,848. The penalty relates to alleged GST liability on subsidy receivables from the Government of India and a claimed erroneous Input Tax Credit for financial years 2018-19 to 2022-23. The company intends to contest the order at an appropriate appellate forum, stating that it has a strong case on merits.

GST Penalty Details

An order has been passed against Chambal Fertilisers, levying an aggregate penalty of ₹5,26,84,73,848. The order, dated 26.09.2025, was issued by the Joint Commissioner, CGST & Central Excise, Patna-I. The company received the order on September 26, 2025.

Grounds for the Penalty

The penalty is based on alleged GST liability related to subsidy receivables from the Government of India concerning fertilisers. It also involves the alleged wrong availment of Input Tax Credit (ITC) for financial years 2018-19 through 2022-23.

Company Response

Chambal Fertilisers maintains that, as per section 15(2)(e) of the Central GST Act, subsidies receivable from the Government of India are excluded from the value of taxable supply and, therefore, GST is not applicable. The company states it will challenge the order at an appropriate appellate forum.

Financial Impact

The company anticipates no significant financial impact beyond the amount of the penalty levied. Chambal Fertilisers has expressed confidence in contesting the above-mentioned order.

Source: BSE

An accident occurred at Godawari Power & Ispat’s iron ore pellet plant on September 26, 2025, resulting in the death of 6 employees and injuries to 6 others. The incident involved the collapse of refractory material at the plant in Siltara, Raipur. An internal inquiry is underway, and operations at the pellet plant have been temporarily suspended. The company has provided assurance that other manufacturing activities remain unaffected.

Incident at Pellet Plant

On September 26, 2025, an incident occurred at the iron ore pellet plant of Godawari Power & Ispat Limited (GPIL) located in Siltara Industrial Area, Raipur, Chhattisgarh. The accident involved the collapse of refractory material of a side wall of the travel grate.

Casualties and Response

Tragically, the incident resulted in the death of 6 employees. Additionally, 6 other employees sustained injuries. The injured were immediately hospitalized for medical treatment. As of September 27, 2025, one injured employee has been discharged, and the remaining 5 are stable. Full recovery is expected within a week.

Internal Investigation and Plant Operations

GPIL has initiated an internal inquiry to investigate the cause of the accident and prevent future occurrences. Operations at the iron ore pellet plant have been suspended pending the completion of the investigation and repairs to the refractory lining. The company deeply mourns the loss of life.

Other Operations Unaffected

GPIL confirms that manufacturing activities at its other plants, including the other pellet plant, DRI, and SMS units, remain unaffected and continue to operate without interruption.

Insurance Coverage

The company has an insurance policy that covers the entire plant. Additionally, a Group Term Life Policy provides compensation in the event of employee death. This provides insurance coverage of Rs. 10,00,000 per employee. There is also a Group personal accident policy, providing a minimum compensation of Rs. 5,00,000 and a maximum of Rs. 10,00,000 in case of accident.

Source: BSE

Birlasoft has announced the re-appointment of Angan Guha as Chief Executive Officer (CEO) & Managing Director (MD) for another 2 years, effective December 1, 2025. The decision, made by the Board of Directors on September 27, 2025, is based on the recommendation of the Nomination and Remuneration Committee and is subject to necessary statutory approvals. Guha’s current term expires on November 30, 2025.

Leadership Continuity

On September 27, 2025, the Board of Directors of Birlasoft approved the re-appointment of Mr. Angan Guha (DIN: 09791436) as the Chief Executive Officer (CEO) & Managing Director (MD) of the company. This decision ensures leadership stability and continues the strategic direction under Mr. Guha’s guidance.

Appointment Details

Mr. Guha’s re-appointment is effective from December 1, 2025, for a further period of 2 (two) years. The current term of appointment is set to expire on November 30, 2025. The re-appointment is subject to statutory approvals, following the recommendation of the Nomination and Remuneration Committee.

Executive Profile

Mr. Angan Guha provides strategic leadership to Birlasoft, focusing on driving scale and transformation. Before joining Birlasoft, Mr. Guha served as the CEO for the Americas 2 Strategic Market Unit at Wipro. He also served on its Executive Board and Group Executive Council. He holds a degree in Electronics Engineering from the University of Pune and has completed an executive program in management from the Booth School of Business, University of Chicago.

Source: BSE

Shyam Metalics and Energy Limited announced the vesting of employee stock options under the SMEL Employee Stock Incentive Plan 2023 (ESIP – 2023). This vesting occurs after the completion of the second year from the grant date. According to the vesting schedule, 23% and 30% of the granted options are now available for exercise, effective from September 27, 2025.

ESOP Vesting Details

Shyam Metalics and Energy Limited has completed the second year since the grant date, triggering the vesting of stock options under the SMEL Employee Stock Incentive Plan (ESIP – 2023). This includes options granted under the SMEL Performance ESOP Scheme (ESOP-2023) and the SMEL Loyalty ESOP Scheme (ESOP II – 2023).

Vesting Schedule and Exercise

Effective September 27, 2025, employees can now exercise 23% and 30% of the options initially granted. This announcement pertains to options granted to employees of Shyam Metalics and its subsidiaries.

Scheme Specifics

Under the SMEL Performance ESOP Scheme (“ESOP – 2023”), 17,000 options were granted to 1 eligible employee. The options were priced at ₹331, which represents a 25% discount on the market price as of September 27, 2023.

For the SMEL Loyalty ESOP Scheme (“ESOP II – 2023”), 216,000 options were granted to 5 eligible employees. The options were priced at ₹221, a 50% discount on the market price as of September 27, 2023.

Vesting Timeline

For the Performance ESOP Scheme, 20% of the total eligible options vest on the first anniversary of the grant date, 23% on the second, 23% on the third, and 34% on the fourth. Under the Loyalty ESOP Scheme, 40% of the total eligible options vest on the first anniversary, with 30% vesting on both the second and third anniversaries. As of September 27, 2025, 3910 and 57,900 options have vested under the Performance and Loyalty schemes, respectively.

Source: BSE

Jindal Steel has been recognized as an Awarding Body by the National Council for Vocational Education and Training (NCVET), under the Ministry of Skill Development & Entrepreneurship. As the first diversified large Indian enterprise and integrated steel manufacturer to receive this recognition, Jindal Steel can now design industry-aligned skilling programs under the NEP and National Credit Framework, focusing on decarbonization, circular economy, and advanced technologies.

NCVET Recognition

Jindal Steel has achieved recognition as an Awarding Body by the National Council for Vocational Education and Training (NCVET), operating under the Ministry of Skill Development & Entrepreneurship.

Key Benefits

This recognition empowers Jindal Steel to create industry-aligned skilling programs. These programs, designed within the framework of the National Education Policy (NEP) and National Credit Framework, will emphasize decarbonization, a circular economy, and advanced technologies. This agreement ensures that all training standards and qualifications are recognized for credit under the National Credit Framework stemming from India’s National Education Policy (NEP) 2020.

Impact

The NCVET’s recognition allows Jindal Steel to bring industry standards directly into education and skilling, ensuring young Indians acquire the knowledge and discipline needed for success in the workplace and to contribute to building a stronger nation.

About Jindal Steel

Jindal Steel is a leading integrated steel producer in India, known for its scale and efficiency. The company uses a mine-to-metal model, leveraging captive resources, advanced manufacturing, and a global distribution network. With investments exceeding USD 12 billion, Jindal Steel operates facilities in Angul, Raigarh, and Patratu, with operations across India and Africa.

Source: BSE

Vedant Fashions Limited (Manyavar) has paid a compounding fee of ₹50,000 related to a violation under the Legal Metrology Act, 2009. The violation concerned non-disclosure of size and insufficient space for quantity declaration on a product label. The company received a notice, addressed the issue, and deposited the fee on September 25, 2025.

Legal Metrology Compliance

Vedant Fashions Limited, known for its brand ‘Manyavar’, addressed a compliance issue under the Legal Metrology Act, 2009. This followed a seizure receipt dated July 24, 2025, and a Show Cause Notice dated August 13, 2025, regarding discrepancies in product labeling.

Details of the Violation

The issue pertained to the insufficient disclosure of the size of a product and inadequate space for quantity declaration on the product label, which was identified during a routine inspection. The specific product in question was a Pocket Square.

Resolution and Fee Payment

The company sought compounding of the offence and was directed to deposit a compounding fee of ₹50,000. Vedant Fashions complied by depositing the fee on September 25, 2025 and formally informing the Authority on September 26, 2025. This resolves the matter, and the company anticipates no further financial or operational impact beyond the paid fee.

Source: BSE

Syrma SGS Technology has announced the appointment of M/s. DPV & Associates LLP as its Secretarial Auditors for a period of five consecutive years, commencing from the financial year 2025-26 and continuing until the financial year 2029-30. The appointment was approved by the members of the Company at the 21st Annual General Meeting held on September 26, 2025.

Secretarial Auditor Appointment

Syrma SGS Technology Limited has officially appointed M/s. DPV & Associates LLP as its Secretarial Auditors. This appointment was ratified by the members during the 21st Annual General Meeting (AGM), which took place on September 26, 2025.

Appointment Term and Details

The term for M/s. DPV & Associates LLP will span five consecutive years, beginning with the financial year 2025-26 and concluding in the financial year 2029-30. The firm’s registration number is L2021HR009500, and its Peer Review Certificate number is 6189/2024.

About DPV & Associates LLP

DPV & Associates LLP is led by Mr. Devesh Vasisht, a Fellow Member of the Institute of Company Secretaries of India, with over 18 years of experience. The firm specializes in secretarial audits, corporate governance, and related advisory services.

Source: BSE

Syrma SGS Technology announced the appointment of Mr. Sudeep Tandon as a Non-Executive, Non-Independent Director, effective September 26, 2025. This appointment follows the retirement of Mr. Jaideep Tandon, who did not seek reappointment after his term. The decision was made at the company’s Annual General Meeting.

Leadership Transition

Mr. Sudeep Tandon has been appointed as a Non-Executive Non-Independent Director of Syrma SGS Technology, effective September 26, 2025. The appointment was approved by shareholders at the company’s 21st Annual General Meeting.

Director Retirement

The appointment follows the retirement of Mr. Jaideep Tandon, who retired by rotation and expressed his unwillingness to seek reappointment. His tenure concluded on September 26, 2025.

Sudeep Tandon’s Background

Mr. Sudeep Tandon has extensive experience in the technology industry, having worked in California, Boston, South Korea, and the UK. He is currently the Managing Director of Infinx Services Private Limited. He previously served as the Ex-CBO at Freecharge. His brother is Mr. Sandeep Tandon.

Source: BSE

Coromandel International has applied for the reclassification of Coromandel Engineering Company Limited (CECL) and Yanmar Coromandel Agrisolutions Private Limited (YCAS) from the ‘Promoter group’ category. The company submitted a “no-objection” request to the stock exchanges on September 26, 2025, to proceed with this re-classification. Both CECL and YCAS currently hold no equity shares in Coromandel International.

Promoter Group Reclassification

On September 26, 2025, Coromandel International announced that it has requested the reclassification of two entities, Coromandel Engineering Company Limited (“CECL”) and Yanmar Coromandel Agrisolutions Private Limited (“YCAS”), from the ‘Promoter group’ category.

Details of the Entities

The company has sought a “no-objection” from the National Stock Exchange of India Limited and BSE Limited to proceed with the reclassification.

Both Coromandel Engineering Company Limited and Yanmar Coromandel Agrisolutions Private Limited are currently classified as part of the Promoter Group but hold no equity shares in Coromandel International.

Entities Details

Coromandel Engineering Company Limited, belonging to the Promoter Group, holds Nil equity shares.

Yanmar Coromandel Agrisolutions Private Limited, belonging to the Promoter Group, holds Nil equity shares.

Source: BSE