Motherson Auto Solutions Limited (MASL), a wholly-owned subsidiary of Samvardhana Motherson International, has received a penalty order. The order, issued by the Assistant Commissioner, Chengalpattu, relates to a penalty of INR 10,20,166 regarding input tax credit eligibility for FY 2021-22. MASL is preparing to appeal against the penalty order.

Penalty Order Details

Motherson Auto Solutions Limited (MASL), a wholly owned subsidiary of Samvardhana Motherson International, received a penalty order from the Assistant Commissioner in Chengalpattu. The order was received on September 15, 2025.

Financial Impact and Response

The penalty order totals INR 10,20,166. This relates to the eligibility of input tax credit availed during the financial year 2021-22. According to the company’s statement, MASL intends to file an appeal against this order. The company has stated that there is no material impact on the financials or operations resulting from this order.

Source: BSE

CARE Ratings has reaffirmed Jyothy Labs’ long-term bank facilities rating at CARE AA; Stable, following a review. The rating affirmation highlights the company’s stable outlook. Additionally, the outstanding rating of ‘CARE A1+’ for the Commercial Paper has been withdrawn at the company’s request.

Credit Rating Maintained

Jyothy Labs announced that CARE Ratings Limited has reaffirmed its rating for the company’s long-term bank facilities. The long term bank facilities continue to hold a rating of CARE AA; Stable. This decision was communicated in a press release dated September 16, 2025.

Withdrawal of Commercial Paper Rating

At the request of Jyothy Labs, CARE Ratings has withdrawn the ‘CARE A1+’ rating previously assigned to the company’s Commercial Paper. This withdrawal is effective as of September 16, 2025.

Source: BSE

Authum Investment & Infrastructure has entered into an agreement to invest in Serovia Pharma Private Limited, acquiring a 3% stake. The investment involves subscribing to compulsorily convertible preference shares. The deal is subject to customary closing conditions and corporate authorizations. This move aligns with Authum’s strategy of diversifying its investment portfolio.

Strategic Investment in Serovia Pharma

Authum Investment & Infrastructure Limited has announced an investment in Serovia Pharma Private Limited. The investment agreement, dated September 15, 2025, outlines the terms for Authum’s acquisition of a stake in the company.

Details of the Agreement

Authum Investment will subscribe to 18,95,053 partly paid-up compulsorily convertible preference shares of Serovia Pharma (“Series B CCPS”). This represents 3% of Serovia Pharma’s expanded share capital on a fully diluted basis.

Terms and Conditions

The agreement includes details regarding the operation, management, and governance of Serovia Pharma, as well as the relationship between shareholders. Consummation of the transaction is subject to certain pre-closing actions and corporate authorizations.

Consideration and Payment Terms

The primary infusion amounts to INR 3,000,001,553 to subscribe to Serovia Pharma shares. Each share has a face value of INR 10, along with a premium of INR 1573.07, aggregating to INR 1583.07 (“Subscription Price”). 50% of the subscription amount (INR 150,00,00,776.50) is payable on application, while the remaining 50% is payable on call by Serovia Pharma.

Serovia Pharma Overview

Serovia Pharma, incorporated on July 19, 2025, will focus on developing, manufacturing, and distributing pharmaceutical products globally. It currently has a presence in India and plans to expand to Cyprus and the US.

Source: BSE

ICRA Limited has assigned a rating of ICRA AA+ (Stable) to JSW Infrastructure’s loan facilities aggregating ₹2,250 crore. The rating applies to both fund-based term loans of ₹2,250 crore and non-fund-based letter of credit limits of ₹400 crore. This rating reflects ICRA’s assessment of the company’s creditworthiness and stability. The ratings are valid as of September 16, 2025.

ICRA Credit Rating Assignment

JSW Infrastructure announced that ICRA Limited has assigned a credit rating of ICRA AA+ (Stable) to its loan facilities. This rating was communicated via a letter dated September 16, 2025. The assigned rating covers a total amount of ₹2,250 crore in loan facilities provided by Axis Bank Limited.

Details of Rated Facilities

The ICRA AA+ (Stable) rating applies to the following facilities:

• Fund Based Term Loan: ₹2,250 crore
• Non-Fund Based Limits-Letter of Credit: ₹400 crore

ICRA has indicated that the ratings are subject to surveillance and potential review based on new information or circumstances. Details of the rating rationale are available on ICRA’s website.

Source: BSE

Brickwork Ratings India Pvt. Ltd. has reaffirmed IIFL Finance’s long-term credit rating as BWR AA+/Stable for Non-Convertible Debentures. Additionally, a rating of BWR AA/Stable has been assigned for the Proposed Perpetual Debt Instrument. The rating information is available on Brickwork Ratings’ website, reinforcing IIFL Finance’s stable financial outlook.

Credit Ratings Maintained

IIFL Finance has received confirmation from Brickwork Ratings India Pvt. Ltd. regarding its credit ratings. The announcement, dated September 16, 2025, highlights the agency’s continued confidence in IIFL Finance’s financial stability.

Key Rating Details

Brickwork Ratings has reaffirmed a long-term rating of BWR AA+/Stable for the Non-Convertible Debentures issued by IIFL Finance. This rating indicates a stable outlook for these debt instruments.

Furthermore, the rating agency has assigned a BWR AA/Stable rating to the company’s Proposed Perpetual Debt Instrument, reflecting its assessment of the instrument’s creditworthiness.

Accessing Rating Information

Details regarding the rating rationale and methodology can be found on Brickwork Ratings’ official website: https://www.brickworkratings.com/Admin/PressRelease/IIFL-Finance-15Sep2025.pdf

Source: BSE

Piramal Enterprises Limited (PEL) announces that the composite scheme of arrangement for the merger with Piramal Finance Limited (PFL), formerly known as Piramal Capital & Housing Finance Limited, is now effective as of September 16, 2025. Consequently, Piramal Enterprises Limited is merged with PFL and stands dissolved without being wound up, according to the scheme of merger.

Merger Effective Date

Piramal Enterprises Limited (PEL) has officially announced the effectiveness of its merger with Piramal Finance Limited (PFL). The effective date of the scheme of merger is September 16, 2025.

Dissolution of Piramal Enterprises Limited

As a result of the merger, Piramal Enterprises Limited is now merged with Piramal Finance Limited (PFL) and is dissolved without being wound up. This action is in full accordance with the approved Scheme of Merger.

Background of the Merger

The merger follows the filing of the certified copy of the order issued on September 12, 2025, by the National Company Law Tribunal, Mumbai Bench (“NCLT”). This order approved and sanctioned the Scheme of Merger. Approvals were also received from the Registrar of Companies, Mumbai, Ministry of Corporate Affairs, Government of India.

Source: BSE

Vedanta announces that the National Company Law Appellate Tribunal (NCLAT) has set aside a previous order rejecting the scheme application filed by Talwandi Sabo Power Limited (TSPL). The NCLAT order, dated September 15, 2025, allows the National Company Law Tribunal (NCLT) to proceed with the scheme of arrangement. This decision impacts Vedanta and its subsidiaries, including Vedanta Aluminium Metal Limited and Malco Energy Limited.

NCLAT Sets Aside Order

The National Company Law Appellate Tribunal (NCLAT) has issued an order on September 15, 2025, effectively reviving the scheme application for Talwandi Sabo Power Limited (TSPL). This decision reverses the prior rejection by the National Company Law Tribunal (NCLT), paving the way for further consideration of the proposed scheme.

Implications for Vedanta and Subsidiaries

The scheme of arrangement involves Vedanta Limited along with its key subsidiaries. These include Vedanta Aluminium Metal Limited (VAML), Talwandi Sabo Power Limited (TSPL), Malco Energy Limited (MEL), and Vedanta Iron and Steel Limited (VISL). The NCLAT’s decision allows the NCLT to reassess the scheme’s viability and potential benefits for all involved parties.

Next Steps for the Scheme

With the NCLAT order in place, the NCLT is now authorized to proceed with the applications related to the scheme. This includes the potential for convening meetings and making further decisions within a week from the receipt of the order, advancing the process towards a final resolution. This development marks a significant step forward in the ongoing scheme of arrangement.

Source: BSE

Jubilant Ingrevia confirms the fulfillment of its payment obligation regarding the redemption of commercial paper worth ₹50 Crores. This announcement follows Chapter XVII of SEBI’s Operational Circular, dated May 22, 2024, as amended. The maturity and payment date for the obligation was September 16, 2025. The company issued the certificate on September 16, 2025.

Commercial Paper Redemption Fulfilled

Jubilant Ingrevia has announced the successful fulfillment of its payment obligation related to the redemption of commercial paper amounting to ₹50 Crores.

Key Details of the Obligation

The details regarding the commercial paper obligation are as follows:

• ISIN: INE0BY014391
• Due Date: September 16, 2025
• Nature of Payment: Maturity
• Payment Date: September 16, 2025

This confirmation follows the guidelines outlined in Chapter XVII of the SEBI Operational Circular dated May 22, 2024, as amended.

Source: BSE