Patanjali Foods Ltd on Wednesday announced that the Supreme Court has quashed the Rs 186 crore tax demand imposed on the company. The move came as part of a Special Leave Petition (SLP) filed by the Principal Commissioner of Income Tax, Central 4. The SLP was filed against a ruling by the Bombay High Court. “The demands of Rs 186 crore for pre–Corporate Insolvency Resolution process (CIRP) period raised by Income Tax Deptt. has been quashed by Hon’ble Supreme Court of India,” Patanjali Foods said in a regulatory filing.
Kothari Industrial Corporation Ltd has earmarked about Rs 7,300 crore of investments spread over the next two-three year period to focus on fertiliser and footwear businesses in Tamil Nadu, a top official said. The investment would see the establishment of a fertiliser production unit in Tamil Nadu at about Rs 1,300 crore, footwear manufacturing facilities in Karur and Eraiyur in Kallakurichi district at around Rs 6,000 crore under the Phoenix Kothari Footwear Ltd, besides an industrial park for footwear and ancillaries in southern Tamil Nadu.
The Mahindra Group on Wednesday said it has tied up with US defence technology firm Anduril Industries to co-develop and produce autonomous maritime systems to counter drone threats, providing enhanced protection against unmanned aerial systems. The partners also plan to jointly come up with advanced AI-enabled Counter Unmanned Aerial System (CUAS) technologies and innovative Command and Control (C2) software.
Burmans’ open offer of Rs 2,116 crore for the acquisition of additional 26 per cent stake in Religare Enterprises Ltd (REL) has received tepid response. The tender price for open offer was fixed at Rs 235 per share. As per the data of open offer, against 90,042,541 shares (26 per cent), only 231,025 shares (0.07 per cent) were tendered. The open offer closed on February 13 and the date of payment of consideration was February 17, the data said.
Goldman Sachs on Wednesday bought shares of leading stock exchange BSE for Rs 401 crore through an open market transaction. According to the bulk deal data available on National Stock Exchange (NSE), US-based Goldman Sachs through its arm Goldman Sachs (Singapore) purchased 7.28 lakh shares of BSE Ltd. The shares of Mumbai-headquartered BSE were picked up at an average price of Rs 5,504.42 apiece, taking the deal value to Rs 401.19 crore.
Torrent Green Energy, subsidiar yof Torrent Power, has incorporated Torrent Urja 30 Pvt Ltd (TU30), a wholly-owned subsidiary, on February 19, 2025. TU30 is into electricity generation from renewable energy. It is incorporated in India and registered with the Registrar of Companies in Ahmedabad on February 12, 2025, a regulatory filing by Torrent Power said.
Kalyani Strategic Systems Ltd (KSSL), subsidiary of Bharat Forge, has inked a pact with AM General, USA to supply made-in-India advanced artillery cannons. KSSL has signed a Letter of Intent (LOI) at IDEX 2025 in AbuDhabi, the company said in a regulatory filing. This marks the first-ever supply of cannons from an Indian defence manufacturer to the US, a testament to the strengthening bilateral defence cooperation between our two nations, it added.
Travel brand Cox & Kings, which was acquired by Singapore-based private equity and venture capital firm Wilson & Hughes last year through insolvency proceedings, on Wednesday announced expansion of its India presence with the launch of 10 new franchisees in key cities. With growing interest from entrepreneurs and travel enthusiasts, Cox & Kings plans to establish 300 franchises, preferred agents, and holiday clubs across India and globally over the next two years, the company said in a statement.
JBM Auto Ltd’s subsidiary JBM Ecolife Mobility on Wednesday announced securing an order worth Rs 5,500 crore for supply of 1,021 electric buses under the PM e-Bus Sewa Scheme-2. These buses, which are to be delivered over a period of 18 months, will be deployed across 19 cities in Gujarat, Maharashtra and Haryana, JBM Ecolife Mobility said. The deployment period will, however, be for 12 years, it said.
Waaree Energies has bagged an order from a domestic entity to supply solar PV modules of 362.5 MWp capacity. The company did not disclose the name of the company which placed the order. The supply of modules is scheduled to commence in FY26. About the nature of contract, it said that it is a one-time order.
