Latest news with #companiesAct
Time of India
17-07-2025
- Business
- Time of India
HC nixes PIL against discoms' privatisation
Prayagraj: The Allahabad high court has dismissed a PIL challenging the proposed privatisation of electricity distribution companies of the state, saying 'the relief claimed and the challenge laid apparently is based on assumptions'. The PIL petitioner Vijay Pratap Singh had challenged the privatization of Dakshinanchal Vidyut Vitran Nigam Ltd and Purvanchal Vidyut Vitran Nigam Ltd by citing certain communications of Uttar Pradesh power corporation limited (UPPCL) in this connection. Dismissing the PIL, a division bench comprising Chief Justice Arun Bhansali and Justice Kshitij Shailendra observed, "The relief claimed and the challenge laid apparently is based on assumptions. The record does not indicate that the petitioner has, at any stage, even approached the respondents (UP govt and others)..." "In that view of the matter, at this stage, we do not find any reason to entertain the present petition. The same is, therefore, dismissed," added the court. However, the court in its decision made it clear that the petitioner is free to take appropriate proceedings in accordance with law. In the PIL, the petitioner had requested the court to issue a 'writ of certiorari' to terminate the proceeding initiated to dilute the stake of Purvanchal Vidyut Vitran Nigam in the company, as same is without the mandatory compliance of rules and without following the mandate of the Companies Act, 2013. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo In addition to it, the court also requested the court to issue a 'writ of mandamus' commanding respondents to adopt professional attitude to manage the UP Power Corporation Limited and its four companies and appoint only persons having technical qualification in board of the company and to abolish the post of chairman from the company as same is against the mandate of the companies Act, 2013. After hearing the counsel for the petitioner, the court in its decision dated July 11 dismissed the PIL, noting that from the material, which has been placed on record, it is apparent that at this stage, by communication dated March 20, 2025, the chief engineer has indicated that the technical evaluation committee of UPPCL has evaluated technical bids submitted by the bidders for privatization in Dakshinanchal Vidyut Vitran Nigam Limited and Purvanchal Vidyut Vitran Nigam limited and nothing more has been produced on record.
Mint
23-06-2025
- Business
- Mint
IT stock below ₹50 jumps despite weak trends on Dalal Street
Stock Market Today: IT stock below ₹ 50 gained during the intraday trades on Monday, despite weak trends on Dalal Street. Check for special business update clarifications provided by Blue Cloud Softech Solutions Ltd Blue Cloud Softech Solutions is to hold an extra Ordinary General Meeting on the 27th day of June 2025 at 4 PM through OAVM/VC. In the context of the same, company submitted a Corrigendum to the Notice of the Extraordinary General Meeting. In its release on the Exchanges it said that the Notice dated 23RD MAY, 2025, for convening the Extra Ordinary General Meeting has been sent to the shareholders. Blue Cloud Softech Solutions giving certain clarifications said that certain Resolutions are to be considered to be part of the Notice of EGM served and to be numbered as mentioned herein below and item no. 6 and its explanation in explanatory statement of the original be considered and treated as 8. Under the special resolutions company said that Item No 6. is to approve borrowing limits of the company under section 180 (1)(C) Of the companies Act. Further Item No.7 is to approve creation of charge of movable and immovable properties of the company both present and the future, in respect of the borrowing under section 180(1)(A) of the companies Act, 2013. IT stock below ₹ 50- Blue Cloud Softech Solutions share price movement Blue Cloud Softech Solutions share price opened at ₹ 28.01 on the BSE on Monday. The Blue Cloud Softech Solutions share price at the time of opening was lower than the previous days closing price of ₹ 28.56. The Blue Cloud Softech Solutions share price thereafter gained and rose to intraday highs of ₹ 29.13 which meant about 2% gains during the intraday trades. Blue Cloud Softech Solutions share price continued trading at similar level since RS 29.13 was the upper price band of the Blue Cloud Softech Solutions share price. Thus Blue Cloud Softech Solutions share price was locked in the upper circuit and alco ended the day at same leve;. Meanwhile the BSE Sensex that was trading weak, dipped more than 1% during the intraday trades and closed with 0.6% losses.\
Mint
23-06-2025
- Business
- Mint
IT stock below ₹50 jumps despite weak trends on Dalal Street
Stock Market Today: IT stock below ₹ 50 gained during the intraday trades on Monday, despite weak trends on Dalal Street. Check for special business update clarifications provided by Blue Cloud Softech Solutions Ltd Blue Cloud Softech Solutions is to hold an extra Ordinary General Meeting on the 27th day of June 2025 at 4 PM through OAVM/VC. In the context of the same, company submitted a Corrigendum to the Notice of the Extraordinary General Meeting. In its release on the Exchanges it said that the Notice dated 23RD MAY, 2025, for convening the Extra Ordinary General Meeting has been sent to the shareholders. Blue Cloud Softech Solutions giving certain clarifications said that certain Resolutions are to be considered to be part of the Notice of EGM served and to be numbered as mentioned herein below and item no. 6 and its explanation in explanatory statement of the original be considered and treated as 8. Under the special resolutions company said that Item No 6. is to approve borrowing limits of the company under section 180 (1)(C) Of the companies Act. Further Item No.7 is to approve creation of charge of movable and immovable properties of the company both present and the future, in respect of the borrowing under section 180(1)(A) of the companies Act, 2013. IT stock below ₹ 50- Blue Cloud Softech Solutions Special business clarifications
Business Standard
30-05-2025
- Business
- Business Standard
SJVN slumps on reporting dismal Q4 PAT
SJVN dropped 5.34% to Rs 96.70 after the company reported consolidated net loss of Rs 127.60 crore in Q4 FY25 as against net profit of Rs 61.08 crore posted in Q4 FY24. However, revenue from operations rose by 4.45% year-over-year to Rs 504.40 crore during the period under review. The company reported pre-tax loss of Rs 146.48 crore during the quarter, compared to a profit before tax of Rs 71.39 crore in Q4 FY24. Total expenses rose 15.06% to Rs 697.96 crore in Q4 FY25 compared to Q4 FY24. During the quarter, electricity purchased for trading stood at Rs 18.58 crore, up 54.77% YoY, while employee benefits expense was Rs 26.06 crore, down 26.06% YoY. For the full year FY25, revenue from operations rose 19.09% to Rs 30,72.01 crore, while net profit fell 10.06% to Rs 819.66 crore. Meanwhile, the companys board has recommended a final dividend of Rs 0.31 per equity share for the financial year 2024-25, subject to the approval of shareholders at the ensuing Annual General Meeting. This final dividend is in addition to the interim dividend of Rs 1.15 per equity share declared in February 2025 for FY 2024-25 and will be paid within the statutory period prescribed under the companies Act, 2013. SJVN is principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.
