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Ankur Jain, the founder and Chief Executive Officer of Bira 91 parent B9 Beverages, has stepped down from the company's board and executive leadership following a full settlement with institutional investors and lenders. The agreement resolves a two-year corporate dispute involving nearly 30 stakeholders, paving the way for the debt-laden craft brewer to undergo a comprehensive recapitalization and management restructuring. As part of the deal, Jain and the promoter family will surrender their executive powers along with their 17.8% ownership stake in B9 Beverages. In return, lenders—including Anicut Capital and Hero Corporate Services—and key shareholders like Peak XV Partners and…

The Delhi High Court on Wednesday upheld the Centre’s decision to deny an extension of the Production Sharing Contract (PSC) for Vedanta Ltd’s offshore Suvali oil block in Gujarat and allow Oil and Natural Gas Corporation Ltd (ONGC) to take over operations. Justice Purushaindra Kumar Kaurav dismissed Vedanta’s petition challenging the Ministry of Petroleum and Natural Gas’s September 19, 2025 order, which rejected the company’s 2021 application seeking a 10-year extension of the PSC signed on June 20, 1998. Vedanta had requested an extension of the contract until June 29, 2033. The company had previously received five interim extensions, with…

TVS Motor Company reported its highest-ever quarterly financial performance for the first quarter of FY2026-27, posting a 38% year-on-year increase in revenue to Rs. 13,896 crore and a 51% jump in profit after tax (PAT) to Rs. 1,174 crore. The company's revenue stood at Rs. 10,081 crore in the corresponding quarter of the previous financial year, while PAT was Rs. 776 crore. The company also recorded its highest-ever quarterly EBITDA of Rs. 1,779 crore, up 41% from Rs. 1,260 crore a year earlier. Its EBITDA margin improved to 12.8% from 12.5%, despite rising commodity prices and global market uncertainties that…

IDBI Bank Ltd. on Saturday reported a 5 per cent year-on-year increase in net profit to ₹2,115 crore for the first quarter of FY2026-27, driven by higher net interest income, robust loan growth and continued improvement in asset quality. The bank had posted a net profit of ₹2,007 crore in the corresponding quarter of the previous financial year, while profit rose 9 per cent sequentially. The Board of Directors approved the financial results for the quarter ended June 30, 2026, at its meeting in Mumbai. Net Interest Income (NII) grew 10 per cent year-on-year to ₹3,486 crore from ₹3,166 crore,…

India needs a harmonised, evidence-based regulatory framework for bike taxis to reduce policy uncertainty, safeguard gig workers, improve commuter safety and strengthen affordable urban mobility, according to a new report released by CUTS International. The report, Harmonising Bike Taxi Regulations in India: An Evidence-Based Assessment and Suggested Pathways for Reform, was launched in New Delhi by Gopal Krishna Agarwal, National Spokesperson (Economic Affairs) of the BharatiyaJanata Party.The report highlights that India's bike taxi regulations currently vary widely across states, with policies ranging from enabling frameworks and conditional approvals to restrictions, EV-only mandates and legal ambiguities. According to CUTS International, this…

Rescue operations continued at the Samardung Tunnel (Teesta VI) project in North Sikkim after a suspected methane gas leak inside the tunnel on July 20 trapped 25 project personnel, resulting in casualties, according to Patel Engineering Limited (PEL). The company said the incident occurred at around 1 pm in the Adit-3, Face 4B section of the project. A sudden release of suspected methane gas trapped within the rock formation allegedly triggered a gas burst or explosion inside the tunnel, filling the area with dense fumes and toxic gases and hampering rescue efforts. PEL said its project team is working closely…