Blue Dart Aviation Limited, a wholly-owned subsidiary of Blue Dart Express, has received a Show Cause Cum Demand Notice (SCN) from the Office of the Commissioner of GST and Central Excise on September 15, 2025. The notice pertains to alleged tax dues for the period from April 2021 to March 2023.

GST Demand Notice Details

Blue Dart Aviation Limited (BDAL), a wholly-owned subsidiary of Blue Dart Express, has received a Show Cause Cum Demand Notice (SCN) regarding alleged tax dues. The notice was received on September 15, 2025, from the Office of the Commissioner of GST and Central Excise.

Period and Allegations

The SCN alleges demand and recovery of tax dues under Section 73(1) of the CGST Act, 2017/TNGST Act, 2017, for the period covering April 2021 to March 2023. BDAL is required to respond to the Additional/Joint Commissioner of GST & Central Excise within 30 days of receiving the notice.

Specific Issues Raised

The notice identifies several issues, including:

• GST paid under the wrong head (IGST instead of CGST & SGST) amounting to Rs.365,58,01,534.
• Potentially ineligible Input Tax Credit (ITC) availed on invoices issued by other locations totaling Rs. 54,55,87,027.
• ITC/CENVAT credit involved in materials subsequently written off, amounting to Rs.64,98,000.

Company’s Response

Blue Dart is currently evaluating the matter and will submit its reply within the prescribed timeframe. At this stage, the company does not anticipate any significant impact on its financials, operations, or other activities.

Source: BSE

Varun Beverages Limited announced the resignation of Mr. Rajesh Kumar, Technical Head – India Operations, from his position as Senior Management Personnel. Mr. Kumar’s last working day was September 15, 2025. The company has officially acknowledged his departure. Details regarding this personnel change are enclosed as per regulatory requirements.

Senior Management Resignation

Varun Beverages Limited (VBL) has announced a change in its senior management team. Mr. Rajesh Kumar, previously the Technical Head – India Operations, has resigned from his position.

Details of Departure

Mr. Kumar’s resignation has been accepted, with his last working day being September 15, 2025. The company has acknowledged his contributions and released him from his duties effective that date.

Rajesh Kumar’s Resignation Letter Highlights

In his resignation letter dated July 1, 2025, Mr. Kumar expressed his gratitude to the management team for their support and guidance during his tenure. He noted his satisfaction with his contributions to the company.

Key Highlights from Resignation Letter:

• Expressed gratitude to management.
• Acknowledged support and guidance received.
• Satisfaction with his contributions to VBL.

Source: BSE

Union Bank of India announces the extension of the term of its Executive Director, Shri Ramasubramanian S., beyond his current term ending November 20, 2025. The extension will continue until his superannuation on June 30, 2027, or until further orders, whichever comes earlier. This decision ensures continuity in the bank’s leadership.

Executive Leadership Continuity

Union Bank of India has extended the tenure of Executive Director, Shri Ramasubramanian S., confirming leadership stability for the coming period. The extension was formalized on September 16, 2025.

Term Extension Details

The term of Shri Ramasubramanian S. has been extended beyond November 20, 2025, the date of his originally notified term. He will now serve until his superannuation, effective June 30, 2027. This extension remains valid unless superseded by further directives.

Source: BSE

Vishal Mega Mart has scheduled a store visit for investors and analysts on September 19, 2025. This visit will allow investors/analysts to gain firsthand insights into the company’s operations at a subsidiary store. The meeting is scheduled to commence at 11:00 AM (IST) onwards. The announcement specifies that unpublished price-sensitive information will not be disclosed during the interactions.

Store Visit for Investors

Vishal Mega Mart is hosting a store visit for investors and analysts. The visit is scheduled for September 19, 2025 and is designed to provide stakeholders with an opportunity to assess the company’s operations. This meeting allows investors and analysts to engage directly with the company’s operational environment.

Meeting Details

The store visit is scheduled to begin at 11:00 AM (IST) onwards. The nature of the meeting is described as a Group Meeting. It has been explicitly stated that no unpublished price-sensitive information will be shared during the visit.

Please note that the schedule for the meeting is subject to change based on the exigencies of the participants and the company. Investors and analysts are advised to consider this potential for alteration when planning their attendance.

Source: BSE

Union Bank of India has announced the extension of Shri Nitesh Ranjan’s term as Executive Director for a further period of three years beyond his current term. The extension, effective until 09.03.2026 or until further notice, was approved on September 15, 2025. This decision ensures continuity in leadership at the executive level for the bank.

Executive Leadership Continuity

Union Bank of India has officially extended the term of Shri Nitesh Ranjan as Executive Director. This extension ensures leadership stability at a crucial executive level within the organization.

Term Extension Details

The term of Shri Nitesh Ranjan has been extended for a period of three years beyond his currently notified term, which concludes on 09.03.2026. The extension is effective from September 15, 2025 and will continue until 09.03.2026, or until further orders are issued.

Source: BSE

India Ratings has upgraded Alivus Life Sciences’s long-term bank loan facilities rating to ‘IND AA’ from ‘IND AA-‘, with a Stable Outlook. The short-term rating is affirmed at ‘IND A1+’. This upgrade reflects Alivus’s healthy revenue visibility, strong EBITDA margins, and a net cash position in FY25. Capacity utilization remains high, benefiting from its association with Glenmark Pharmaceuticals and volume supply contracts extending to FY29.

Rating Upgrade Rationale

Alivus Life Sciences (ALS) has received an upgrade in its long-term rating to ‘IND AA’ with a Stable Outlook, reflecting the company’s strong financial performance and market position. The upgrade is driven by healthy revenue visibility and strong EBITDA margins in FY25. The company’s short-term rating has been affirmed at ‘IND A1+’.

Key Financial Highlights

During FY25-Q1FY26, ALS maintained strong operational performance despite pricing headwinds in the active pharmaceutical ingredient (API) market. The company has demonstrated high capacity utilization (above 95%) despite an 86% increase in capacity between FY22-FY25. Revenue for FY25 reached INR23,869 million.

Strategic Advantages

ALS benefits from its association with Glenmark Pharmaceuticals Limited, with supply contracts extending until FY29. The company is also a part of the Nirma Limited group, enhancing its financial flexibility. The company’s focus on niche and complex portfolios has allowed it to maintain healthy EBITDA margins. As of FY25, it has a portfolio of 165 molecules and a pipeline of 49 new products.

Future Outlook

Despite planned capital expenditures to almost double capacities, ALS is expected to maintain strong credit metrics due to minimal reliance on external funding. The company remains net cash positive and is strategically positioned to capitalize on the growing HPAPI market, which is expected to reach USD45.70 billion by 2030.

Financial Performance Details

In FY25, the company’s EBITDA margins remained healthy at 28.6%. The company’s research and development expenditure stood at INR805 million, accounting for 3.4% of total revenue. As of end-June 2025, ALS filed over 569 drug master filings (DMFs) across various markets. The company had healthy cash reserves of INR5,487 million at the end of FY25.

Source: BSE

Union Bank of India will conduct an Investor/Analyst Meet with Angel One Investment Managers & Advisors Private Limited on September 19, 2025. The meeting will be conducted in a one-on-one, virtual format. Presentation copy for the meeting will not be shared.

Investor/Analyst Meeting Announcement

Union Bank of India has announced an upcoming Investor/Analyst Meet scheduled for September 19, 2025.

Meeting Details

The meeting will be held with Angel One Investment Managers & Advisors Private Limited.

Key Information:

• Date: September 19, 2025
• Mode: One-to-one and Virtual

Additional Information

Details regarding registration and specific platform requirements for the meet will be provided virtually. A presentation copy for the meeting will not be available. Bank will be referring to publicly available documents for discussions during the meet.

Source: BSE

Officials from the Competition Commission of India (CCI) visited Jindal Saw’s Delhi offices between September 15, 2025, and September 16, 2025, concerning an ongoing investigation. Jindal Saw has stated it is extending full cooperation to the authorities during this process and will continue to update the Stock Exchange(s) on further developments. Certain media channels have also reported on this matter.

CCI Visit to Delhi Offices

Between September 15, 2025, and September 16, 2025, officials from the Competition Commission of India (CCI) visited the offices of Jindal Saw in Delhi. This visit is related to an investigation by the CCI.

Company’s Cooperation

Jindal Saw has stated that they have extended full cooperation to the authorities during this investigation. The company has also stated that it will continue to keep the Stock Exchange(s) updated on further developments.

Media Reporting

Certain media and news channels have reported on this matter.

Source: BSE

Life Insurance Corporation of India (LIC) has announced that representatives of the Corporation participated in an Investor Meet organized by Jefferies – 4th India Forum. During the meet, no unpublished price-sensitive information was shared or discussed. The event took place on September 16, 2025, at Hotel Oberoi, Gurugram, Haryana, involving group and one-on-one meetings.

Participation in Investor Meet

Life Insurance Corporation of India (LIC) representatives engaged in an Analyst/Institutional Investor Meet/Conference organized by Jefferies – 4th India Forum.

Details of the Investor Meet

The Investor Meet took place on September 16, 2025, at Hotel Oberoi, Gurugram, Haryana. The format included group and one-on-one meetings with investors.

Information Disclosure

During the Investors’ Meet, the representatives of LIC did not share or discuss any unpublished price-sensitive information. This communication follows their earlier filing dated September 10, 2025.

Source: BSE