Kajaria Ceramics informed the exchanges that Dilip Kumar Maliwal, Chief Financial Officer of Kajaria Bathware Pvt Ltd (KBPL), a wholly owned subsidiary of the Company found to have committed a fraud over a period of last two years by way of embezzlement and siphoning of funds of Kerovit Global, a wholly-owned subsidiary of KBPL, which is a step-down WoS of the Company.
The estimated amount of fraud is ₹20 crore. KBPL has filed a compliant with the police and terminated Dilip Kumar Maliwal from the service of KBPL.
Krishna Institute of Medical Sciences
Krishna Institute of Medical Sciences has entered into a Leave and License Agreement with Andhra Mahila Sabha for taking land admeasuring approximately 1.168 acres (equivalent to 21.19 Grounds) located at Dr. Durgabai Deshmukh Road, Raja Annamalai Puram, Chennai, Tamil Nadu-600028 on a long term lease for setting up a 300 beds (approx.) Super Speciality Hospital.
The investment in the project is expected to be around ₹300 crore.
UltraTech Cement
UltraTech Cement has received a GST demand notice for a total payment of ₹782.2 crore. The order has been passed in various matters on account of “alleged short payment of GST, improper utilisation of Input Tax Credit, etc” during the period 2018-19 to 2022-23, the company said. It plans to contest before the appropriate forum.
Shree Cement
Shree Cement has declared a lockout of a cement plant at Baloda Bazar in Chhattisgarh’s Raipur from December 18.
This is “due to non-co-operation of workmen,” Shree Cement said in a regulatory filing. On the estimated impact on the production/operations, the Kolkata-based company said, “Based on current operations, there will be an estimated loss of cement production of around 10,000 tonne per day.”
The company is monitoring the situation and will provide update on further developments in due course, it added.
“The company is in the process of ascertaining the loss caused by the lockout,” it said. Meanwhile in a PTI report quoting its top official said Shree Cement on Friday announced a ₹2,000 crore investment in Maharashtra’s Vidarbha region to set up a 2 million tonnes per annum (MTPA) cement manufacturing unit.
Ather Energy
Ather Energy, one of India’s leading electric two-wheeler manufacturers, today confirmed its plans to enter the auto insurance services space by incorporating a wholly owned subsidiary that will operate as a Corporate Agent.
In an effort to make the ownership experience more seamless, the new entity will focus on offering auto insurance policies, in partnership with multiple insurers, for its customers across the country.
Deccan Gold Mines Limited
Deccan Gold Mines Limited has announced that pre-commissioning trials have begun at our Altyn Tor Gold Project in Kyrgyzstan. Subject to weather conditions, trials will be done on a sequential basis over the next few months starting with the crushing, grinding, and gravity concentration circuits then followed by the leaching circuit.
The pre-production trials are a precursor to progressive commissioning of the process plant. During this period, we expect to process between 20,000 to 30,000 tonnes of ore with a grade slightly over 1.0 g/t Au.
Swiggy
Swiggy’s quick commerce arm Instamart has piloted a physical experiential store in Gurugram, as the company tests a limited offline format alongside its dark store led delivery operations.
The outlet, located at M3M 65th Avenue, operates as an Instamart branded experiential store and is separate from the company’s dark store network.
Consumers can visit the store to see select products, with purchases being made through walk-in transactions at the outlet rather than via the Instamart app.
Standard Capital Markets Limited
Standard Capital Markets Limited has received a Letter of Intent in relation to its participation in the Corporate Insolvency Resolution Process of Three C Infratech Private Limited, initiated under the provisions of the Insolvency and Bankruptcy Code, 2016.
The Letter of Intent was issued by the Resolution Professional on December 18, 2025, pursuant to the approval of the resolution plan submitted by the Company by the Committee of Creditors (”CoC”) of the Corporate Debtor. The Company has accepted the LoI on December 19.
Suraj Estate Developers
Suraj Estate Developers has strategically acquired two land parcels in the premium locality of Bandra (West), Mumbai, as disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The acquisition encompasses a total area of 2,666.37 square meters, positioning the company for future residential project developments.
GE Vernova T&D India Ltd
GE Vernova T&D India Ltd has been awarded a Contract on December 20. AESL Projects Limited has awarded a contract for design and establishment of 2500 MW, ± 500 kV High Voltage Direct Current (HVDC) VSC Terminal Station (2×1250 MW) for evacuation of renewable power from KPS 3 (Khavda) to South Olpad.
Kranti Industries
Kranti Industries has received additional purchase orders from Armoured Vehicles Nigam Ltd – Machine Tool Prototype Factory (AVNL-MTPF), a Defence Public Sector Undertaking (DPSU) under the Ministry of Defence, for machining of precision components for Defence applications, having an aggregate value of approx. ₹19.72 lakh.
Vishnu Prakash R Punglia Ltd, one of India’s leading Engineering, Procurement and Construction (EPC) companies with a diversified presence across Water & Municipal Services, Roads, Railways, Infrastructure, and Mining, has finalised a River Sand Mining Lease for a period of five (5) years in Village Kanana, Balotra District, Rajasthan. The lease permits river sand mining with an annual production ceiling of 1,54,350 metric tonnes per annum.
Archean Chemical Industries Ltd
Archean Chemical Industries Ltd has entered into a loan agreement with the Wholly Owned Subsidiary (WOS) Company, i.e. Neun Infra Private Limited for ₹150 crore.
The loan is intended to address immediate funding requirements of SiCSem Private Limited for commencement of procurement of long-lead machinery, equipment, and associated items, which are essential to maintain project timelines, pending execution of the Fiscal Support Agreement (FSA) with the Government of India under the India Semiconductor Mission (ISM) framework.
IIFL Finance Ltd
IIFL Finance Ltd, one of India’s leading Non-Banking Financial Companies, designates. Bibhu Prasad Kanungo as Chairperson of the Board, with immediate effect.
Kanungo brings with him over four decades of distinguished experience in central banking, monetary policy, and financial regulation. He served as Deputy Governor of the Reserve Bank of India from 2017 to 2021 and was a Member of the Monetary Policy Committee (MPC) during a pivotal phase of India’s financial-sector evolution.
His tenure was marked by a strong focus on supervisory strengthening, regulatory reforms, consumer protection, and institutional resilience.
Granules India
Granules India informed the exchanges that the USFDA has flagged five procedural observations against Granules Life Sciences, its subsidiary.
Granules Life Sciences, has completed a Good Manufacturing Practices and Prior Approval Inspection by the U.S. Food and Drug Administration. The inspection was conducted at the subsidiary’s Hyderabad facility between December 15 and December 19.
Fortis Healthcare Ltd
Fortis Healthcare Ltd has signed definitive agreements for the acquisition of the 125-bedded People Tree Hospital in Yeshwanthpur, Bengaluru by way of a 100% acquisition of TMI Healthcare Private Ltd.
The said acquisition would be undertaken by FHL’s wholly-owned subsidiary International Hospital Limited (IHL).
As part of the composite transaction, along with the acquisition of TMI Healthcare, IHL would also acquire the hospital building and the underlying land of PTHY from the promoters of TMI Healthcare and an adjacent land parcel from an independent third party; for a cumulative transaction value of ₹430 crore (including debt residing with TMI Healthcare).
The transaction shall be subject to customary closing adjustments as agreed in the definitive agreements.
RITES Ltd
RITES Ltd., a prime transport infrastructure consultancy, has signed a Memorandum of Understanding (MoU) with the Government of the Republic of Botswana, represented by its Ministry of Transport and Infrastructure, to collaborate on the development and modernisation of transport infrastructure in Botswana.
The partnership aims to accelerate the growth of Botswana’s railway and transport infrastructure by deploying advanced technologies, global best practices, and capacity-building initiatives to strengthen local capabilities and enhance efficiency, safety, and reliability across the sector.
Published on December 22, 2025
