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Alok Sanghi, former promoter of Sanghi Industries, has withdrawn his plea before the appellate tribunal, NCLAT, against Ambuja Cements following the settlement of a dispute with the country's second-largest cement manufacturer.
The withdrawal has brought the litigation between the two over Sanghi's personal guarantee of Rs 84 crore to a close.
Ambuja Cements, which acquired Sanghi Industries in 2023 in a Rs 5,185 crore deal, has already withdrawn its plea against Alok Sanghi filed before the Ahmedabad bench of the National Company Law Tribunal (NCLT) on April 10, 2026.
Sanghi had moved the appellate tribunal, NCLAT, challenging an NCLT order passed in November 2025 on Ambuja Cements' insolvency plea regarding a personal guarantee of Rs 84 crore extended by him. The NCLT had appointed an interim resolution professional after the plea.
Earlier in April, the appellate tribunal was informed that a settlement had been arrived at between Sanghi and Ambuja Cements, following which the Ada

gavel law cases

Press Trust of India

Coffee Day Global Ltd, the operator of popular cafe chain Cafe Coffee Day, reported a profit after tax (PAT) of Rs 14 crore in FY26, while its revenue from operations grew 5.7 per cent to Rs 1,094 crore.
The company's operating profit or EBITDA rose 27 per cent to Rs 198 crore in FY26, according to an exchange filing by its parent entity, Coffee Day Enterprises Ltd (CDEL).
In FY25, Coffee Day Global had reported a net revenue of Rs 1,034.63 crore and a loss after tax of Rs 175.92 crore.
Coffee Day Global's Average Sales Per Day (ASPD) witnessed a marginal increase to Rs 21,101 in the financial year ended March 31, 2026, compared with Rs 21,016 in FY25.
However, the number of Cafe Coffee Day outlets declined to 424 at the end of FY26 from 435 a year earlier. Its Same Store Sales Growth (SSSG) stood at negative 1.72 per cent during the fiscal.
On the other hand, the company's vending machine business expanded, with the count rising to 55,802 by the end of the fourth quarter of FY26,

Rupee

Suzlon Energy Ltd said it will move the Securities Appellate Tribunal (SAT) against a Sebi order imposing penalty of Rs 28.95 crore on the company, its two promoters and ex-CFOs over alleged misrepresentation of financial statements.
In a BSE filing, the company stated that the Securities and Exchange Board of India (Sebi), through an order passed on May 29, 2026, set aside an earlier adjudication ruling on June 27, 2025.
The earlier ruling had exonerated Suzlon Energy and its promoter-directors Vinod R Tanti, Girish R Tanti and former CFOs Kirti J Vagadi and Amit Agarwal without imposing any penalty regarding allegations of misrepresentation in financial statements between FY14 and FY18.
"The company will be filing an appeal before the Securities Appellate Tribunal in respect of the SEBI order dated 29th May 2026," the renewable energy solutions provider said on Saturday.
Capital markets regulator Sebi imposed a penalty of Rs 15.95 crore on Suzlon Energy Ltd (SEL), Rs 5.75 crore o

gavel

The primary market will see some activity next week, with two companies - CMR Green Technologies and Hexagon Nutrition - slated to launch their initial public offerings (IPOs) collectively valued at nearly Rs 770 crore.
As both the issues are entirely offer for sale (OFS), the companies will not receive any proceeds from the public offerings, with the entire amount going to the selling shareholders.
The upcoming offerings come at a time when the primary market has witnessed subdued activity amid persistent market volatility and global uncertainties. Although several companies have received regulatory clearances in recent weeks, many have deferred their listing plans due to uncertain market conditions.
So far in 2026, around 20 companies, including Fractal Analytics, Shadowfax Technologies and Bharat Coking Coal, have tapped the capital markets through main-board initial public offerings.
The IPO of CMR Green Technologies, a non-ferrous metal recycler, will open for public subscript

Canadian and Indian officials have expressed optimism about ongoing negotiations on a proposed free trade agreement during a business summit in Regina, amid renewed engagement between the two countries after trade talks stalled in 2023, according to media reports.
Saskatchewan Premier Scott Moe, Canada's High Commissioner to India Chris Cooter and India's High Commissioner to Canada Dinesh Patnaik, on Friday, participated in the Western Canada-India Leaders Summit in Regina, capital city of the Saskatchewan province, where they discussed bilateral ties and negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA), and spoke with delegations.
According to Canadian broadcaster CBC News, Cooter said negotiations on the agreement were continuing and expressed confidence that a deal could be reached later this year. "The free trade agreement will happen. I have no doubt."
CBC also reported that Patnaik said negotiations were ongoing.
Moe described the relationship

Trade, ports, export

India's paint industry is witnessing an improvement in demand across urban and rural markets, raising hopes of healthy volume growth for leading players in FY27 even as they implement price hikes to offset rising input costs amid an intensely competitive market.
Paint manufacturers, which have already undertaken multiple rounds of price hikes amid rising crude-linked raw material costs, remain cautious and are expected to implement calibrated increases to pass on higher input costs to consumers while protecting margins.
Crude oil derivatives account for nearly 30-35 per cent of the paint industry's raw material costs, as key inputs such as solvents, binders and resins are closely linked to global oil prices. The sector remains exposed to geopolitical uncertainties, currency fluctuations and supply-chain disruptions that could further influence costs.
Listed players, such as Asian Paints, Kansai Nerolac, Berger and AkzoNobel India, in their latest earnings calls, said demand trends .

paint, JSW Paints

Prateek Boob, co-founder, in an interview with Udisha Srivastav, spoke about the company's FY27 priorities, narrowing losses, AI-driven efficiencies, and plans to build a personalised AI tutor

Prateek Boob, Cofounder, PhysicsWallah

Business Standard

PB Fintech co-founders Yashish Dahiya and Alok Bansal are set to sell shares worth up to Rs 654 crore through a block deal

PB Fintech

Madhya Pradesh purchased wheat from more than 1.34 million farmers, surpassing the Centre's revised procurement target of 10 million tonnes

Madhya Pradesh Chief Minister Mohan Yadav (Photo: X/@DrMohanYadav51)

Reserve Bank of India is considering a pilot project for polymer banknotes, citing longer shelf life, lower replacement costs and rising demand for cash despite the growth of digital payments

Rs, Rupee, Cash, Credit, Economy, Saving, Payment, Indian Currency

Pernod and Delhi authorities have been at loggerheads on whether the company can sell its products like Absolut vodka and Chivas Regal while being an accused in a liquor policy probe

Pernod Ricard

Reuters

Cooperation in areas like Open Radio Access Network (RAN), digital supply chain resilience, artificial intelligence, next-generation agriculture, and food security is also deepening its focus on geoec

Quad, Quad summit

The 15-year-old Vaibhav Sooryavashi surpassed Sai Sudharshan to become the fastest Indian batter to 1000 IPL runs in the Qualifier 2 match of IPL 2026 against the Gujarat Titans in Mullanpur

Watch the best moments and top performers from RCB vs GT IPL 2026 qualifier 1 match as Rajat Patidar delivers with a stunning half-century.

Vaibhav Sooryavanshi set IPL 2026 on fire with a stunning 97 off 29 balls against Sunrisers Hyderabad in the IPL Eliminator. Rajasthan Royals posted 243 and knocked SRH out.

The RBI is reportedly reviving its plan to introduce polymer banknotes that last longer, resist damage, and reduce replacement costs.

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