Canara Bank has announced that its subsidiary, Canara HSBC Life Insurance Company Limited, has received communication regarding the updated Red Herring Prospectus (UDRHP). The communication, dated September 15, 2025, relates to final observations for filing the UDRHP. This information is provided to the stock exchanges for informational purposes and record-keeping.

Subsidiary Prospectus Update

Canara Bank has informed the stock exchanges about a development concerning its subsidiary, Canara HSBC Life Insurance Company Limited. The bank stated that the subsidiary has received communication regarding the updated Red Herring Prospectus (UDRHP) from authorities.

Details of the Communication

The communication, dated September 15, 2025, pertains to final observations regarding the filing of the updated Red Herring Prospectus (UDRHP). The bank is providing this information to the stock exchanges to keep them informed and for their records.

This update indicates progress in the regulatory processes related to Canara HSBC Life Insurance Company Limited.

Source: BSE

Mangalore Refinery and Petrochemicals Limited (MRPL) has announced the appointment of statutory auditors for the financial year 2025-26. M/s YCRJ & Associates, Chartered Accountants, Mangaluru, and M/s BSJ & Associates, Chartered Accountants, Kannur, have been appointed as the statutory auditors of the company. This decision follows a letter received on September 15, 2025, from the Comptroller and Auditor General of India.

Statutory Auditor Appointments

Mangalore Refinery and Petrochemicals Limited (MRPL) has formally announced the appointment of its statutory auditors for the financial year 2025-26. This decision follows established protocols and guidelines, ensuring compliance and transparency in financial oversight. The official confirmation was received via a letter from the Office of the Comptroller and Auditor General of India, dated September 15, 2025.

Details of Appointed Firms

The appointed firms are M/s YCRJ & Associates, Chartered Accountants, based in Mangaluru, and M/s BSJ & Associates, Chartered Accountants, based in Kannur. M/s YCRJ & Associates, established on March 15, 1995, has 9 branch offices and 17 partners. M/s BSJ & Associates, established in 2004, has 9 offices and 11 partners.

Source: BSE

Jubilant Ingrevia has confirmed the fulfilment of its payment obligation regarding the redemption of Commercial Paper worth Rs. 70 Crores. This announcement, dated September 15, 2025, confirms that the company has met its financial obligations as per Chapter XVII of SEBI Operational Circular dated May 22, 2024. The details regarding ISIN, due date, and payment date for the maturity have been disclosed.

Commercial Paper Redemption

Jubilant Ingrevia announced on September 15, 2025, that it has successfully fulfilled its payment obligations relating to the redemption of commercial paper worth Rs. 70 Crores. This redemption adheres to Chapter XVII of the SEBI Operational Circular issued on May 22, 2024.

Details of Redemption

The specifics of the commercial paper redemption are as follows:

* ISIN: INE0BY014409
* Due Date: 15-09-2025
* Nature of Payment: Maturity
* Payment Date: 15-09-2025

Source: BSE

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