19 Jun 2025

The Mumbai Metro Rail Corporation Limited (MMRCL) has released long-pending payments to contractors working on Metro Line 3, resolving a standstill caused by a property tax dispute with the BMC. The issue revolved around BMC's tax claims on casting yards, which contractors like Dogus Soma JV, CEC-ITD JV, L&T STEC JV, and HCC argued were exempt under Section 184 of the Railways Act, 1989. The Bombay High Court provided interim relief in April 2024, halting any forceful tax recovery. With no new recovery notices issued and undertakings now secured, MMRCL has resumed disbursing funds to maintain construction progress.Read more

18 Jun 2025

Delhi's government has launched a fresh initiative to revise circle rates across residential, commercial, and industrial zones. A committee, headed by the divisional commissioner, has been constituted to study the wide discrepancies between notified and prevailing market rates. The circle rates have remained static since 2014, barring a brief reduction during the pandemic. This review is part of a broader push to streamline construction approvals, boost green infrastructure, and regularise unauthorised colonies. The move is expected to improve transparency in transactions and strengthen non-GST revenue channels for the state.Read more

18 Jun 2025

In a bid to boost revenue, the Municipal Corporation of Gurugram (MCG) has issued recovery notices to 35 major defaulters owing INR 3.6 crore, as part of a wider drive covering 69 defaulters with total dues of INR 18.2 crore. So far, MCG has collected INR 232.9 crore of its INR 275 crore property tax target for FY 2025-26. A 10% rebate is being offered for full payments made by July-end, along with a No-Dues Certificate. Delays may attract 18% annual interest, sealing, or even auction of properties. Help desks have been set up to address issues like fake receipts, ID mismatches, and data verification.Read more

18 Jun 2025

Cornerstone has secured a INR 1,700 crore term sheet from Kotak Alternate Asset Managers via structured non-convertible debentures to fund Bengaluru-based projects. The capital will support six residential projects in East Bengaluru, two commercial ventures centrally, and land consolidation in the north. This funding move helps Cornerstone manage its ongoing dispute with L&T Finance, which had disbursed INR 835 crore of a INR 1,285 crore sanction, yet recovered around INR 1,400 crore. A recent ARCIL notice triggered legal action, with the Karnataka High Court granting interim relief. With court protection and negotiations underway, Cornerstone is progressing on title clearances and project execution.Read more

18 Jun 2025

Jio BlackRock Mutual Fund, a joint venture between Jio Financial Services Ltd (JFSL) and US-based BlackRock, has officially introduced BlackRock's proprietary Aladdin platform in India. Aladdin, a globally used investment analytics and risk management system, is being made available to Indian investors for the first time. The platform's launch follows the company's receipt of SEBI's asset management licence in the past few weeks. Positioned to blend Jio's digital-first philosophy with BlackRock's global investment prowess, the venture aims to simplify, democratise, and transform investment practices for Indian retail investors.Read more

17 Jun 2025

Raymond Ltd has announced that Raymond Realty Ltd, its real estate arm, will be listed on Indian stock exchanges in Q2 of the current financial year. The move follows a completed demerger, effective from May, which grants Raymond shareholders one share in Raymond Realty for each share held. With property sales reaching INR 2,310 crore last year, the realty division now operates as a standalone entity. This follows a similar listing of Raymond's lifestyle business in 2024. Backed by strong profits and a strategic focus on core sectors, the group aims to unlock value and strengthen its position in India's growing property market.Read more

17 Jun 2025

ArisInfra Solutions Ltd, a tech-driven B2B firm in construction material procurement, is launching its IPO next week with a price band of INR 210-INR 222 per share. The issue, comprising only fresh equity shares worth INR 499.6 crore, values the company at nearly INR 1,800 crore. Funds will be used to boost working capital, invest in subsidiary Buildmex-Infra, acquire partial stakes in ArisUnitern Re Solutions, repay debt, and meet general expenses. The company has delivered over 10.35 million metric tonnes of materials through 1,458 vendors across 963 pin codes. Shares will list shortly after the issue, with JM Financial, IIFL Securities, and Nuvama as lead managers.Read more

16 Jun 2025

SEBI is planning a digital framework to safeguard investors from rising cyber frauds, introducing a centralised investor risk reduction access system. This initiative, revealed during a public consultation, aims to limit exposure to fraudulent online activities, particularly those related to depositories and brokers. It proposes blocking compromised accounts, securing investor credentials, and preventing simultaneous login attempts. SEBI's draft outlines how the system will respond in case of a breach, and feedback from stakeholders has been invited to finalise its structure.Read more

13 Jun 2025

Indian Renewable Energy Development Agency (IREDA), a state-owned financial institution under the Ministry of New and Renewable Energy, has successfully raised over INR 2,000 crore through a Qualified Institutional Placement (QIP). The issue was open for subscription from domestic and foreign institutional investors, including banks, insurers, and foreign portfolio investors, and received bids worth INR 2,005.90 crore, overshooting the base size of INR 1,500 crore. The capital raised will boost IREDA's tier-I capital and improve its capital adequacy ratio, enhancing its ability to fund renewable energy initiatives nationwide.Read more

13 Jun 2025

Invest UP recently held a high-profile Global Capability Centres (GCC) conclave in Lucknow, unveiling its GCC Policy-2024 aimed at transforming Uttar Pradesh into a top destination for international GCCs. The one-day event attracted around 20 major firms including Microsoft, TCS, HCL, Standard Chartered Bank, and Trident who committed to expanding operations and new centres. Officials underscored UP's advantages: skilled young workforce, competitive costs (living and business), robust infrastructure and digital ecosystem, and incentive-rich policies. Investment roadmaps were discussed, including future conclaves in Bengaluru, Chennai, and Hyderabad, plus international roadshows to attract global capital.Read more