Latest news with #Regulation30
Business Upturn
2 days ago
- Automotive
- Business Upturn
SML Isuzu reports 6.3% YoY growth in June 2025 total vehicle sales; Q1 FY26 sales up 12.5%
By Aditya Bhagchandani Published on July 1, 2025, 11:53 IST SML Isuzu Limited has reported a 6.3% year-on-year increase in total vehicle sales for June 2025. According to the company's stock exchange filing on July 1, 2025, total sales for the month stood at 1,871 units, up from 1,760 units in June 2024. Cargo vehicle sales in June 2025 rose sharply by 41.6% to 480 units, compared to 339 units in the same month last year. However, passenger vehicle sales declined marginally by 2.1% to 1,391 units, down from 1,421 units reported in June 2024. For the April to June 2025 quarter (Q1 FY26), SML Isuzu's total vehicle sales grew 12.5% year-on-year to 4,926 units, compared to 4,379 units in the same period last year. This growth was driven by a 46.3% increase in cargo vehicle sales and a 4% rise in passenger vehicle sales for the quarter. The company shared this update in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
2 days ago
- Business
- Business Upturn
NHPC commissions 53.57 MW of Bikaner solar project's fourth phase, total operational capacity reaches 214.28 MW
By Aditya Bhagchandani Published on June 30, 2025, 21:26 IST NHPC Limited has announced the commissioning of 53.57 MW under the fourth phase of its 300 MW Grid Connected Solar PV Project at Karnisar, Bikaner in Rajasthan. The new capacity became commercially operational on June 30, 2025, following successful trial runs completed on June 29, 2025. With this addition, the total commercial operational capacity of the Bikaner solar project has now reached 214.28 MW out of the planned 300 MW. NHPC stated that the commissioning of the remaining capacity will be informed in due course. The company shared this update in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This milestone further strengthens NHPC's renewable energy portfolio as it continues expanding its solar power capacity across India. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
6 days ago
- Business
- Business Upturn
Aditya Vision opens three new showrooms in Bihar and Uttar Pradesh, total count reaches 179
By Aditya Bhagchandani Published on June 27, 2025, 13:10 IST Aditya Vision Limited has announced the opening of three new showrooms on June 27, 2025, expanding its retail footprint to 179 outlets across India. According to the company's exchange filing, the new showrooms are located in Sheikhpura (Bihar), and Rajajipuram and Raebareli (Uttar Pradesh). The showroom in Sheikhpura marks the company's 177th outlet, followed by the 178th in Lucknow and the 179th in Raebareli. This expansion aligns with Aditya Vision's ongoing strategy to strengthen its presence in Tier-II and Tier-III cities, focusing on providing a wide range of consumer electronics and appliances. The company stated that this development is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
6 days ago
- Business
- Business Upturn
Jio Financial Services announces SEBI stockbroker license approval for Jio BlackRock Broking
By Aditya Bhagchandani Published on June 27, 2025, 10:42 IST Jio Financial Services Limited has announced that its broking joint venture, Jio BlackRock Broking Private Limited (JBBPL), has received a certificate of registration from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member. In a regulatory filing on June 27, 2025, the company stated that the SEBI registration was granted on June 25, 2025. Jio Financial Services received the formal intimation from JBBPL on June 26, 2025, at 11:09 AM. This development follows earlier disclosures made by the company on April 15, 2024, and January 21, 2025, regarding the progress of its broking business partnership with BlackRock. Jio BlackRock Broking Private Limited will now be able to offer stockbroking and clearing services in India's capital markets, strengthening Jio Financial Services' position in the financial services sector. The company stated that this update is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Mint
7 days ago
- Business
- Mint
Kirloskar cos drag Sebi to court—say key disclosure rules are ‘unconstitutional'
Mumbai: In a dramatic escalation of the long-running Kirloskar family dispute, five listed Kirloskar Group companies have moved the Bombay High Court challenging the constitutional validity of a regulation that mandates disclosure of private agreements by promoters, directors, and other stakeholders. Kirloskar Oil Engines Ltd (KOEL),Kirloskar Ferrous Industries Ltd,Kirloskar Pneumatic Company Ltd,Kirloskar Industries Ltd, and GG Dandekar Properties Ltd have individually filed writ petitions challenging regulations laid down by the Securities and Exchange Board of India. Mint has seen a copy of the petitions. The companies said Sebi's disclosure rules were 'manifestly arbitrary', 'disproportionate', and 'impermissibly retrospective'. They argued that the regulator had overstepped its mandate by effectively compelling listed companies to treat third-party agreements—including those they may not have signed or ratified—as binding and material. The Bombay High Court has sought Sebi's response and is expected to hear the matter on 20 August. The outcome could have wide-ranging implications for corporate disclosures, particularly for companies with complex ownership or family-led structures. The petitioners have contested Regulation 30A and Clause 5A of Para A of Part A of Schedule III of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, as well as Sebi circulars dated 13 July 2023 and 11 November 2024, which operationalised these rules. Regulation 30A and Clause 5A require listed companies to disclose certain types of agreements even if the entity is not a direct party, if such agreements impact the company's management, control, or impose any restriction or liability. The petitioners have also challenged Regulation 30(13), which requires listed entities to promptly disclose significant communications received from regulatory, statutory, enforcement, or judicial authorities. 'The regulations run contrary to the basic principle of 'consent' or 'consensus ad idem'—a pre-condition to formation of a contract under the Indian Contract Act,' the companies have stated in their petitions. The legal actions come amid the ongoing Kirloskar family feud over a 2009 'Deed of Family Settlement' (DFS), a private arrangement that outlined the distribution of control, management, and ownership across various Kirloskar companies among family branches. Sanjay Kirloskar-led Kirloskar Brothers Ltd, a listed entity from the Kirloskar Group, has demanded that Kirloskar Oil Engines Ltd (KOEL) and other group firms disclose the DFS under Regulation 30A. KOEL maintains it is not a party to the DFS and therefore should not be compelled to disclose it. Sebi, in a communication issued in December 2024, had advised KOEL to disclose the DFS, stating that the document 'remains subsisting in nature and indirectly imposes restrictions' on the company. In their petitions, the listed Kirloskar Group companies have argued that Sebi's disclosure rules violated well-established principles of company law and contract law, including the doctrine of privity and a board's exclusive authority over decisions binding a company. Sebi's move also raised concerns over unintended consequences and unreasonable outcomes, such as being forced to disclose agreements made by unrelated or disgruntled individuals, they said. 'It envisages absurd and unreasonable circumstances where… any employee (at whatever post or even a disgruntled employee)… can bind a listed entity to an agreement… merely upon informing the listed entity of such agreement,' the petitioners stated. They also argued that Sebi was encroaching on the domain of civil courts. 'By interpreting disputed agreements which are in fact sub judice… Sebi is assuming the role of a civil court… and encroaches on the jurisdiction of the civil court,' the petitions state. Kirloskar Brothers Ltd (KBL) has filed an intervention application arguing that several other listed companies—such asHikal Ltd,DCM Ltd,TVS Motor Co. Ltd, andAdani Wilmar Ltd—have already complied with Sebi's disclosure requirements without challenging the regulation's legality. "Given that the regulation has already been acted upon and complied with by multiple listed entities… there exists no justifiable basis for the companies for challenging its constitutional validity at this belated stage apart from the petitioners' mala fide motives,' KBL's application states. Vishwanath Iyer, partner at law firm Anand Sharma and Associates, said calling Regulation 30A as 'unconstitutional' was a stretch. 'Courts have repeatedly affirmed Sebi's wide rule-making power over listed companies. Earlier precedents make it clear that a mere requirement to place a decades-old family deed on the stock exchange website is nowhere near a violation of fundamental rights,' Iyer said. 'It is unusual that a listed company is claiming Sebi's LODR guidelines as unconstitutional. The Bombay High Court is likely to ask why a company that benefits from public markets thinks it can opt out of the transparency bargain that every other issuer accepts,' he added.
