Latest news with #Malappuram-based
Hindustan Times
6 days ago
- Politics
- Hindustan Times
Special NIA court revokes attachment orders of 10 properties linked to PFI
Kochi, A special NIA court has revoked the order of attachment in connection with 10 properties that were linked with Popular Front of India which was banned by the Centre in 2022 for its alleged links with global terrorist organisations. Special NIA court revokes attachment orders of 10 properties linked to PFI Special NIA court judge P K Mohandas revoked, for varying reasons, the attachment order passed in 2022 by the Designated Authority under the Unlawful Activities Act in respect of all the properties. In the case of properties owned by Malappuram-based Green Valley Foundation Trust which has been a major focus of the NIA investigation and the Karunya Foundation in Kollam, the court said that materials on record prima facie show "proceeds of terrorism". It, however, revoked the attachment orders in respect of those properties, saying that "the Designated Authority has decided the matter without giving reasonable opportunity of being heard to the appellant and there is no proper compliance of the principles of natural justice". In the other eight cases, including properties of private persons or trusts, the court found that the owners were not accused in the cases registered by the NIA and the materials before it were not enough to find that the properties were 'proceeds of terrorism'. It also held that the order passed by the Designated Authority, in each of those cases, was done without following the principles of natural justice. "... the impugned order of the Designated Authority is passed without following the principles of natural justice and is liable to be set aside on that ground alone. Further, building under attachment is not 'proceeds of terrorism' and the same is not liable to be attached under the UA," the court said in each of the eight cases. The special court's 10 separate orders came on the pleas by the owners of the attached properties. The Designated Authority had passed the attachment orders under the UA by holding that the properties were 'proceeds of terrorism'. This article was generated from an automated news agency feed without modifications to text.
Economic Times
01-07-2025
- Business
- Economic Times
AJC Jewel IPO shares to list today. GMP suggests moderate premium on debut
Kerala-based AJC Jewel Manufacturers is set to debut on the BSE SME platform today after successfully completing its Rs 15.39 crore IPO. Market analysts suggest a grey market premium (GMP) of Rs 4 ahead of its listing, indicating mild positive sentiment around the stock in the unofficial market. ADVERTISEMENT The book-built issue was open from June 23 to June 26, and saw healthy interest across investor categories, with the allotment completed on June 27. The IPO was priced at Rs 95 per share. The IPO comprised a fresh issue of 16.20 lakh shares, with no offer-for-sale component. Post-issue, the total share capital stands at 59.84 lakh shares, translating to a market capitalization of around Rs 56.85 crore at the issue price. The issue was managed by Smart Horizon Capital Advisors, with Bigshare Services acting as the registrar, and Rikhav Securities serving as market in 2018, AJC Jewel Manufacturers is involved in crafting a wide variety of gold jewelry including bangles, rings, earrings, and necklaces for men, women, and Malappuram-based 21,780 sq ft facility is fully equipped with advanced machinery such as 3D printers and casting machines, enabling a fully integrated design-to-delivery manufacturing flow. ADVERTISEMENT The company plans to use the IPO proceeds to fund capital expenditure for new equipment (Rs 2.63 crore), repay or prepay existing borrowings (Rs 8.9 crore), and for general corporate the company posted Rs 246.84 crore in revenue for FY24 with a PAT of Rs 3.32 crore. ADVERTISEMENT While the GMP suggests modest listing gains, market watchers caution that actual performance on debut will depend on broader market sentiment and retail interest. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
01-07-2025
- Business
- Time of India
AJC Jewel IPO shares to list today. GMP suggests moderate premium on debut
Kerala-based AJC Jewel Manufacturers is set to debut on the BSE SME platform today after successfully completing its Rs 15.39 crore IPO. Market analysts suggest a grey market premium (GMP) of Rs 4 ahead of its listing, indicating mild positive sentiment around the stock in the unofficial market. The book-built issue was open from June 23 to June 26, and saw healthy interest across investor categories, with the allotment completed on June 27. The IPO was priced at Rs 95 per share. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Xu hướng nhà container: Giải pháp nhà ở hiện đại và bền vững Visionary Echo Undo The IPO comprised a fresh issue of 16.20 lakh shares, with no offer-for-sale component. Post-issue, the total share capital stands at 59.84 lakh shares, translating to a market capitalization of around Rs 56.85 crore at the issue price. The issue was managed by Smart Horizon Capital Advisors, with Bigshare Services acting as the registrar, and Rikhav Securities serving as market maker. Founded in 2018, AJC Jewel Manufacturers is involved in crafting a wide variety of gold jewelry including bangles, rings, earrings, and necklaces for men, women, and children. Live Events Its Malappuram-based 21,780 sq ft facility is fully equipped with advanced machinery such as 3D printers and casting machines, enabling a fully integrated design-to-delivery manufacturing flow. The company plans to use the IPO proceeds to fund capital expenditure for new equipment (Rs 2.63 crore), repay or prepay existing borrowings (Rs 8.9 crore), and for general corporate purposes. Financially, the company posted Rs 246.84 crore in revenue for FY24 with a PAT of Rs 3.32 crore. While the GMP suggests modest listing gains, market watchers caution that actual performance on debut will depend on broader market sentiment and retail interest. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The Hindu
10-05-2025
- Business
- The Hindu
Work on Mananchira–Malapparamba Road to commence soon
The much-awaited development of the Mananchira–Vellimadukunnu Road is likely to begin soon, as the Public Works department has finalised the tender for the works. The department is planning to enter into a contract with Malappuram-based Midland Projects within two weeks, and the work will commence shortly after. In the first phase, the plan is to develop the stretch from the junction of Pavamani Road and Bank Road in Mananchira to the Malapparamba junction, where the road meets NH-66. The 5.32-km stretch is being developed at a cost of ₹80 crore. The road will be 8.5 metres wide, with a two-metre median at the centre and two-metre-wide footpaths on both sides. Additionally, there will be a half-metre-wide space on either side for gardening. The drainage and cable duct, both one metre in width, will run beneath the footpath. Around 350 streetlights will be installed on the median. The Malapparamba–Mananchira stretch is being developed under the City Road Improvement Project. Land acquisition for the project is mostly complete, except for a few small plots that remain under dispute. The project is the result of a long-pending public demand and nearly 15 years of persistent effort by the Mananchira–Vellimadukunnu Road Action Committee, headed by historian M.G.S. Narayanan, who passed away recently. The development of the Mananchira–Malapparamba stretch is expected to be completed by early 2026. However, the remaining portion from Malapparamba to Vellimadukunnu is to be developed by the National Highways Authority of India, as it forms part of National Highway 766 (Kozhikode–Kollegal).
