Niva Bupa Health Insurance has appointed Mr. Vivek Anant Karve as an Additional Director in the category of Independent Director. The appointment, effective September 15, 2025, is for a term of five consecutive years and is subject to the approval of the company’s members. Mr. Karve brings over 30 years of experience across multiple sectors, including financial services.

Independent Director Appointment

Niva Bupa Health Insurance has announced the appointment of Mr. Vivek Anant Karve (DIN: 06840707) as an Additional Director in the category of Independent Director. The appointment is effective from September 15, 2025.

Term and Approval

Mr. Karve’s term will be for a period of five (5) consecutive years. The appointment is subject to the approval of the Members of the Company.

Vivek Karve’s Background

Mr. Karve is a Chartered Accountant (1994), a Cost Accountant (1993) and holds a B. Com degree from the University of Bombay (1991). He has over 30 years of professional experience across sectors including Consumer Products, IT services and Financial Services. He previously held leadership positions at Marico, a listed FMCG group with a market capitalization of over USD 10 billion, and at Mahindra Finance, a listed NBFC with a market capitalization of about USD 4 billion.

Experience Highlights

During his career at Marico, Mr. Karve focused on performance management, GRC, automation in finance processes, outsourcing, long-term incentive plans, and M&A due diligence. At Mahindra Finance, he contributed to setting performance management systems and processes and centralizing customer on-boarding due diligence.

Source: BSE

Life Insurance Corporation of India (LIC) has received a communication regarding a demand order for Goods & Service Tax (GST), interest, and penalty for the state of Jharkhand. The total demand includes GST of INR 92,48,03,480/- and a penalty of INR 92,48,03,480/-. The order is appealable before the Commissioner (Appeals), Jamshedpur.

GST Demand Details

LIC has received a demand order encompassing GST, applicable interest, and penalty related to its operations within Jharkhand. The communication was officially received on September 15, 2025.

Financial Implications

The demand includes the following components:

• GST: INR 92,48,03,480/-
• Interest: As applicable
• Penalty: INR 92,48,03,480/-

The demand pertains to the financial year 2021-22. The company states that the financial impact is limited to the extent of the GST, interest, and penalty. There is no anticipated material impact on the financials, operations, or other activities of the Corporation.

Violation Details

The demand relates to a pre-mature availment of Input Tax Credit on Reverse Charge Mechanism.

Source: BSE

NCC has been awarded a significant project for the construction of the Barner Reservoir Scheme in the Jamui district of Bihar. The project, received via a letter dated September 15, 2025, from the Water Resources Department, Bihar, is valued at approximately ₹2090.5 Crore (excluding GST). The construction is expected to be completed within 30 months, with a Defect Liability Period of 60 months.

Major Project Awarded

NCC Limited has announced that it has secured a major order for the construction of the Barner Reservoir Scheme. The official communication regarding this order was received on September 15, 2025, from the Water Resources Department, Bihar. This new project significantly bolsters NCC’s portfolio in the water resources sector.

Project Details and Value

The Barner Reservoir Scheme, located in the Jamui district of Bihar, includes the construction of the reservoir itself, dam structures, irrigation channels, and other associated works. The total contract value is approximately ₹2090.5 Crore, excluding GST. This contract is a substantial addition to the company’s order book.

Project Timeline

The project is scheduled to be completed within 30 months from the commencement date. Following the construction phase, there will be a Defect Liability Period (DLP) of 60 months. NCC Limited is committed to delivering this project within the stipulated timeframe and to the highest quality standards.

Source: BSE

Life Insurance Corporation of India (LIC) held an analyst/investor meet on September 22, 2025, following the release of their Q1 FY26 results. The presentation, now available on LIC’s website, showcased key business performance parameters including a 4.77% increase in total premium income to ₹1,19,200 Cr and a 2.46% rise in total group business premium. The company also highlighted its focus on increasing the share of non-par products and its extensive distribution network.

Q1 FY26 Financial Performance

LIC reported a 4.77% increase in total premium income, reaching ₹1,19,200 Cr in Q1 FY26, compared to ₹1,13,770 Cr in Q1 FY25. The total group business premium also saw a rise of 2.46%, amounting to ₹47,726 Cr. Individual new business premium grew by 5.42% to ₹12,536 Cr.

Market Share & Business Mix

LIC’s market share in premium stood at 63.51% for Q1 FY26. The company emphasized its strategy to increase the share of non-par products in its portfolio. The share of non-par products in individual APE (Annualized Premium Equivalent) has increased from 76.06% in Q1 FY25 to 69.66% in Q1 FY26.

Actuarial Metrics

The Indian Embedded Value (IEV) has increased by ₹49,532 Crore from March 2024 to March 2025, highlighting a growth of 6.81%, reaching ₹7,76,876 Crore. The VNB (Value of New Business) margin increased by 1.5%(Abs) from 13.9% to 15.4%.

Distribution Network

LIC highlighted its extensive distribution network, with 14.87 lakh agents exclusive to LIC. The company’s offices cover 89% of districts in India. LIC also emphasized its focus on building an Omni-channel distribution network, with increasing contributions from Bancassurance and Alternate Channels.

ESG Initiatives

LIC discussed its commitment to ESG (Environmental, Social, and Governance) initiatives, including its contribution to various social causes through the LIC Golden Jubilee Foundation (GJF). The company highlighted its outstanding investments in renewable energy and initiatives for community development.

Way Forward

LIC outlined its key focus areas, including digital transformation, enhancing the share of non-par products, consolidating distribution gains, agency transformation, investment yield maximization, and aligning human resources with emerging market demands.

Source: BSE

Firstsource Solutions Limited has appointed Kumaran Shanmuhan as its Chief Strategy Officer, effective September 15, 2025. This strategic move aims to advance Firstsource’s UnBPO™ vision, focusing on expertise, technology, and outcome-oriented solutions. Shanmuhan will lead the development and execution of the company’s long-term strategic agenda, driving innovation and aligning market trends with business priorities. He brings over two decades of experience in technology and business transformation.

Strategic Leadership Addition

Firstsource Solutions Limited has announced the appointment of Kumaran Shanmuhan as Chief Strategy Officer, effective September 15, 2025. This appointment is a strategic move to advance the company’s UnBPO™ vision, which focuses on expertise, technology, and outcome-oriented solutions.

Shanmuhan’s Role and Responsibilities

In his new role, Kumaran Shanmuhan will lead the development and execution of Firstsource’s long-term strategic agenda. His mandate includes driving alignment between market trends and business priorities, identifying high-impact growth opportunities, and embedding innovation within the organization. He will collaborate with the CEO and executive leadership team to translate strategy into measurable outcomes.

Industry Expertise

Kumaran Shanmuhan brings over two decades of strategic leadership in technology, operations, and business transformation. He has deep expertise in building and scaling consulting, product, platform, and go-to-market functions for SaaS and Al companies. In his previous role at Uniphore, he built and scaled the first Al consulting and industry solutions teams, fueling 70% year-over-year revenue growth.

Vision for the Future

The appointment reflects Firstsource’s strategic intent to lead in a future where relevance, agility, and technology-driven outcomes matter more than scale. Shanmuhan’s leadership will play a critical role in formalizing Firstsource as a trailblazer in reimagining outsourcing.

Source: BSE

Adani Enterprises Ltd. (AEL) has been awarded a Letter of Award (LoA) from National Highways Logistics Management Ltd. (NHLML) for the construction of a ropeway project connecting Sonprayag and Kedarnath. AEL will invest ₹4,081 crore in this project. The 12.9 km ropeway will reduce travel time from 8-9 hours to just 36 minutes and is expected to be completed in six years.

Ropeway Project Awarded

Adani Enterprises Ltd. (AEL) has secured a Letter of Award (LoA) from the National Highways Logistics Management Ltd. (NHLML) to build the ropeway project connecting Sonprayag with Kedarnath. This project will be executed by AEL’s Roads, Metro, Rail, and Water (RMRW) division.

Project Details and Impact

The 12.9 km ropeway project is set to significantly reduce travel time from an arduous 9-hour trek to just 36 minutes, making the pilgrimage easier and safer. The ropeway will have the capacity to carry 1,800 passengers per hour per direction. The project aims to serve lakhs of pilgrims each year, benefiting from Kedarnath’s annual influx of around 20 lakh pilgrims.

Investment and Timeline

Adani Enterprises Ltd. (AEL) will invest ₹4,081 crore in this project, marking its first ropeway venture. The project is part of the National Ropeways Development Programme – Parvatmala Pariyojana and will be developed on a Public-Private Partnership (PPP) basis. Completion is expected in six years, and AEL will operate it for 29 years after construction. The project is expected to create jobs and boost tourism in the region.

Leadership Perspective

Mr Gautam Adani, Chairman of the Adani Group, stated, “The Kedarnath ropeway is more than an engineering project – it is a bridge between devotion and modern infrastructure. By making this sacred journey safer, faster and more accessible, we honour the faith of millions while creating new opportunities for Uttarakhand’s people through our partnership with NHLML and the Government of Uttarakhand. This prestigious project reflects our commitment to building infrastructure that not only serves the nation but also uplifts its people.”

Source: BSE

Firstsource Solutions has appointed Mr. Kumaran Shanmuhan as Executive Vice President (EVP) and Chief Strategy Officer, effective September 15, 2025. Mr. Shanmuhan brings over two decades of experience in technology, operations, and business transformation. His expertise includes building and scaling consulting, product, and platform functions for high-growth SaaS and AI companies. The appointment is aimed at driving high-impact growth and accelerating enterprise AI adoption.

Executive Leadership Change

Firstsource Solutions Limited has announced the appointment of Mr. Kumaran Shanmuhan as the new Executive Vice President and Chief Strategy Officer, effective September 15, 2025. This strategic hire is expected to bolster the company’s growth initiatives and strengthen its position in the market.

Mr. Shanmuhan’s Background

Mr. Shanmuhan brings extensive experience in technology, operations, and business transformation. He has a proven track record of driving significant growth and enabling enterprise AI adoption. His expertise includes building and scaling consulting, product, platform, and go-to-market functions for high-growth SaaS and AI companies.

Prior to joining Firstsource, Mr. Shanmuhan built Uniphore’s AI consulting team. He also holds an MBA from the Kellogg School of Business, and a graduate engineering degree from BITS Pilani.

Source: BSE

NTPC Green Energy Limited announces the commencement of commercial operation for a portion of its renewable energy capacity, specifically 100 MW out of a total 500 MW plant. This project, executed through IRCON Renewable Power Limited, marks a significant step in NTPC’s green energy initiatives. The commercial operation began on September 17, 2025, boosting the group’s total installed capacity to 7372.575 MW.

Renewable Energy Milestone

NTPC Green Energy Limited (NGEL) has reached a key milestone with the successful commissioning and commencement of commercial operations for a portion of its renewable energy projects. The announcement, dated September 15, 2025, highlights NGEL’s commitment to expanding its green energy portfolio.

Project Details

The newly operational capacity is 100 MW (Lot-6), which is part of a larger 500 MW plant. This project is executed through IRCON Renewable Power Limited (IRPL), a joint venture involving Ayana Renewable Power Private Limited. The commercial operation took effect on September 17, 2025.

Capacity Expansion

With the addition of this 100 MW capacity, the total installed capacity of NTPC Green Energy Limited now stands at 7372.575 MW. This increase underscores the company’s growth in the renewable energy sector. The company’s previous capacity stood at 7272.575 MW.

Source: BSE

3M India has announced the receipt of Form 4 under the Vivad Se Vishwas Scheme. The company received the form on Friday, September 12, 2025, and subsequently submitted an announcement to BSE on Sunday, September 14, 2025, after allowing for necessary verification. The core details were previously disclosed on August 22, 2025, following receipt of Form 2 on August 21, 2025.

Form 4 Receipt Under Vivad Se Vishwas

3M India has received Form 4 for FY 2006-07 under the Vivad Se Vishwas Scheme. The company completed the initial receipt and verification process within two days.

Earlier Disclosures

The announcement emphasizes that the key details pertaining to this matter have already been shared with the stock exchanges in a prior corporate announcement dated August 22, 2025. This followed the receipt of Form 2 from the Principal Commissioner of Income Tax on August 21, 2025.

Supplementary Action

The current announcement is considered a supplementary action with no changes to figures or the substance of the previous disclosure. The company has requested that this clarification be taken on record.

Source: BSE