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According to the notice dated March 14, 2026, Sunday Proptech Limited (formerly known as OYO Financial and Technology Services Private Limited) will hold its 1st Extraordinary General Meeting (EGM) on Monday, April 6, 2026. The meeting is scheduled for 5:00 P.M. IST and will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

Key Agenda Items for the EGM:

The company has proposed the following special businesses for shareholder consideration:

• Increase in Authorised Share Capital: To increase the capital from INR 200 Crore to INR 300 Crore, divided into 300 Crore equity shares of INR 1 each.
• Issuance of Bonus Shares: To issue bonus equity shares in a ratio of 3:1 (three new shares for every one held) to shareholders as of the April 17, 2026 record date.
• Private Placement of Equity Shares: To issue up to 8,69,56,521 equity shares of Rs 1 each, at a price of INR 23 per share, seeking to raise an aggregate consideration of up to INR 200 Crore.
• Alteration of Articles of Association (AOA): To adopt a new set of Articles of Association to incorporate provisions from a Shareholders' Agreement dated October 31, 2025.
  

​EGM Logistics and Voting Information

The IPO Committee of National Stock Exchange of India Limited (NSE) has approved the appointment of intermediaries for its proposed Initial Public Offering (IPO).

After a structured, transparent and competitive selection process, 20 merchant bankers have been selected, including Kotak Mahindra Capital, JM Financial, Axis Capital, IIFL Capital Services, Motilal Oswal Investment Advisors, ICICI Securities, SBI Capital Markets, Nuvama Wealth Management, HDFC Bank, Avendus Capital, Morgan Stanley India, Citigroup Global Markets India, J.P. Morgan India, HSBC Securities and Capital Markets (India), IDBI Capital Markets, 360 ONE WAM, Anand Rathi Advisors, DAM Capital Advisors, Pantomath Capital Advisors, and Equirus Capital.

Eight law firms have also been appointed, including Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP, Sidley Austin, AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas & Co, and Trilegal.

Other intermediaries selected include MUFG Intime India, Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication Ltd, and Redseer Strategy Consultants.

These intermediaries will assist NSE with regulatory filings, due diligence, documentation, marketing, and execution of the proposed IPO in accordance with applicable regulations.

With the completion of this process, the engagement of Rothschild & Co India as the process advisor for the selection and appointment of IPO intermediaries has concluded.

​Financial Performance (Q3 FY26 vs Q3 FY25): The National Stock Exchange of India (NSE) reported a mixed financial performance in Q3 FY26, with Total Income declining 8.6% year-on-year (YoY) to ₹4,394.84 crore, compared to ₹4,806.55 crore in Q3 FY25. The moderation in revenue reflects relatively lower trading activity and normalization of market volumes compared to the elevated levels witnessed in the previous year. Profitability declined on a YoY basis primarily due to the absence of significant exceptional gains recorded in the previous year. Profit Before Tax (PBT) stood at ₹3,185.97 crore, compared to ₹4,914.70 crore in Q3 FY25, while Profit After Tax (PAT) came in at ₹2,408.75 crore, down from ₹3,833.60 crore in the corresponding quarter last year. The higher base in Q3 FY25 was largely driven by a one-time gain of approximately ₹1,155 crore from the sale of investment in associates, which inflated profitability during that period. Excluding this exceptional item, the underlying earnings performance remains strong, reflecting NSE’s resilient business model and its dominant position in India’s capital market infrastructure.

Operational Metrics (Q3 FY26 vs Q3 FY25): ​NSE’s operational performance remained resilient, with trading services continuing to drive the majority of the exchange’s revenues. Revenue from operations stood at ₹3,924.68 crore in Q3 FY26, compared to ₹4,349.41 crore in Q3 FY25, reflecting moderation in transaction-related income.
Segment-wise, trading services generated revenue of ₹3,553.89 crore, compared to ₹3,975.28 crore in Q3 FY25, highlighting the strong contribution of equity and derivatives trading activity to overall income. The clearing services segment contributed ₹410.11 crore, down from ₹640.89 crore in the previous year, while the others segment (including market data, index licensing, and technology services) generated ₹165.60 crore, slightly higher than ₹153.55 crore in Q3 FY25, reflecting continued diversification of revenue streams. Despite the decline in revenue, NSE maintained operational efficiency with total expenses at ₹1,107.31 crore, compared to ₹1,015.15 crore in the corresponding quarter last year, indicating controlled cost expansion aligned with business growth and infrastructure investments.

Strategic Developments & Outlook: NSE continues to benefit from structural growth in India’s capital markets, driven by rising retail participation, increasing derivatives trading activity, and expanding institutional investor engagement. The exchange’s diversified revenue streams—including trading services, clearing services, indices, market data, and technology platforms—provide resilience and scalability to its business model.
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Looking ahead, NSE’s strong market leadership, robust technological infrastructure, and ongoing expansion across domestic and international market segments position it well to capitalize on the continued deepening of India’s financial markets. Sustained growth in trading volumes and the exchange’s strategic initiatives across data, analytics, and financial market services are expected to support long-term earnings visibility and value creation.

Financial Performance (Q3 FY26 vs Q3 FY25): Mohan Meakin Limited reported stable operating performance for the quarter ended 31 December 2025 (Q3 FY26). Total Revenue increased by 9.5% year-on-year (YoY) to ₹902.49 Crore, compared to ₹823.92 Crore in Q3 FY25. Profit After Tax (PAT) rose significantly by 71.5% YoY to ₹70.16 Crore, compared with ₹40.91 Crore in Q3 FY25. The strong improvement in profitability reflects better operational efficiency and cost management during the quarter. Earnings Per Share (EPS) for the quarter increased to ₹82.46, compared with ₹48.08 in the corresponding quarter of the previous year.

Operational Metrics (Q3 FY26 vs Q3 FY25): Operational performance during the quarter showed controlled cost growth alongside higher revenue. Total expenses increased to ₹808.19 Crore, compared with ₹769.05 Crore in Q3 FY25. Cost of raw materials and components consumed stood at ₹106.3 Crore, broadly in line with the ₹85.65 Crore reported in the same quarter last year. Employee benefit expenses rose to ₹16.5 Crore, compared with ₹13.3 Crore a year earlier, while finance costs increased to ₹0.21 Crore from ₹0.17 Crore in Q3 FY25. Despite these increases, the company maintained a healthy Profit Before Tax (PBT) of ₹93.9 Crore, reflecting strong operational performance and improved margins during the quarter.

Strategic Developments: Mohan Meakin Limited is strategically shifting towards premiumization to enhance its operating profit margins (OPM) and appeal to a younger, higher-spending demographic. Historically known for its mass-market, budget-friendly brands like Old Monk rum, the company is diversifying its portfolio by introducing premium brands in the gin, vodka, and whiskey segments.

India's logistics ecosystem is quietly expanding beyond trucking and warehouse operators. A new group of companies focused on global shipping, forwarding and air freight cargo logistics will become an important backbone of international trade. One such company that is poised and gearing up to tap the public markets is Skyways Air Services Limited, which is now decided and slated to go public on March 18, 2026.

Skyways Group founded by 𝗦.𝗟 𝗦𝗵𝗮𝗿𝗺𝗮 has consistently ranked among India’s top air-freight forwarders, handling large export volumes for industries like pharma, electronics, retail, and fast-moving manufacturing.  Mr. Yashpal Sharma is now the Chairman and Managing Director and has played a significant role in the company's growth.

Skyways Air Services began its journey as a custom agent (CHA), a service provider that handles customs clearance for importers and exporters. Over the decades, the company has expanded into a full-service freight forwarding and logistics platform, helping companies move goods across international borders. 

The company has reported a significant increase in revenue over the last two financial years.

• FY25 Revenue: ₹2,270 crore

• FY24 Revenue:  ₹1,316 crore

• FY25 Profit: ₹48 crore

• FY24 Profit: ₹34 crore

Export-oriented sectors such as pharmaceuticals, electronics, textiles, and engineering goods have increasingly relied on air cargo logistics to meet tight delivery schedules.

Today, the company operates in an emerging segment often referred to as "asset-light logistics".  And moreover, instead of owning planes aircrafts and ships, it manages the flow of cargo in coordination with airlines, shipping companies, freight and trucking networks and customs authorities.

Notice is hereby given that the Extra-Ordinary General Meeting (“EGM”) of the Members of Kineco Limited will be held on Monday, March 02, 2026 at 4:00 P.M. (IST) at Plot No. 41, Pilerne Industrial Estate, Pilerne, Bardez, Goa – 403511 and through Video Conferencing (“VC”)/Other Audio-Visual Means (“OAVM”), to transact the following businesses:

Special Business:

To consider and, if thought fit, to pass, with or without modification(s), the following resolutions:

• Appointment of Group Chief Executive Officer and Executive Director
  Approval for appointment of Mr. Vivek Srivastava (DIN: 09294944) as Group Chief Executive Officer and Executive Director of the Company for a period of five (5) years commencing from January 01, 2026 to December 31, 2031, not liable to retire by rotation, along with the remuneration and terms approved by the Board of Directors pursuant to Sections 196, 197, 203 and other applicable provisions of the Companies Act, 2013.
  
• Approval of Additional Corporate Guarantee
  Approval for providing an additional corporate guarantee of ₹7 crore (in addition to the existing guarantee of ₹5 crore) in favour of HDFC Bank Ltd. to secure the loan facility availed by Kineco Exel Composites India Private Limited, aggregating the total guarantee amount to ₹12 crore.
  
• Approval of Transactions under Section 185 of the Companies Act, 2013
  Approval for the Board of Directors to provide loans, guarantees, or securities up to an aggregate amount of ₹25 crore to subsidiaries, associate companies, joint ventures, or other entities in which directors are interested, subject to applicable provisions of the Companies Act, 2013.
• Alteration of Articles of Association
  Approval for alteration of the Articles of Association of the Company to enable issuance of sweat equity shares and Employee Stock Option Plans (ESOPs) subject to provisions of the Companies Act, 2013.
  
• Approval of ‘Kineco Employee Stock Option Plan 2026’ (ESOP 2026)
  Approval for introduction and implementation of the Kineco Employee Stock Option Plan 2026, authorizing the Board to grant up to 1,49,395 employee stock options, each convertible into one equity share of face value ₹10, to eligible employees of the Company.
  
• Approval for Office or Place of Profit
  Approval for Mr. Prashant Naik (DIN: 01866113), Non-Executive Director of the Company, to hold an office or place of profit as an employee of the Company under the terms and remuneration approved by the Board.

Instruction At Glance

Financial Performance (Q3 FY26 vs Q3 FY25): Parag Parikh Financial Advisory Services Ltd reported a robust financial performance in Q3 FY26, with Total Income increasing by 66.42% year-on-year (YoY) to ₹169.35 crore, compared to ₹101.8 crore in Q3 FY25. This strong top line growth reflects expansion in the company’s core asset management and advisory operations, supported by higher fee income and investment-related gains. The company delivered substantial profitability growth, with Profit Before Tax rising to ₹131.12 crore, up from ₹84.53 crore in the corresponding quarter last year. Profit After Tax (PAT) also increased significantly to ₹98.64 crore, compared to ₹50.98 crore in Q3 FY25, reflecting strong operating leverage and improved earnings momentum.

Operational Metrics (Q3 FY26 vs Q3 FY25): ​PPFAS’s revenue growth was primarily driven by strong performance across its fee-based income streams. Fee and commission income rose sharply to ₹151.62 crore in Q3 FY26, compared to ₹101.18 crore in Q3 FY25, highlighting sustained growth in assets under management and advisory mandates. Net gain on fair value changes also increased significantly to ₹17.59 crore, up from ₹0.54 crore in the previous year, further supporting overall income growth. Despite higher employee and operating expenses in line with business expansion, the company maintained strong profitability, reflecting the scalability and efficiency of its asset-light business model.

Strategic Developments & Outlook: PPFAS continues to benefit from structural tailwinds in the asset management industry, supported by rising investor participation and growth in managed assets. The company’s strong increase in fee-based income and fair value gains highlights improving operational momentum and earnings visibility. With its scalable platform, strong profitability profile, and consistent growth in core income streams, PPFAS remains well-positioned to sustain its financial performance. Continued expansion in its asset management and advisory businesses is expected to support long-term revenue growth and enhance shareholder value.

Financial Performance (Q3 FY26 vs Q3 FY25): ​Frick India Ltd reported a steady financial performance in Q3 FY26, with Total Income increasing by 7.64% year-on-year (YoY) to ₹136.97 crore, compared to ₹127.58 crore in Q3 FY25. This top line growth reflects stable demand for the company’s industrial refrigeration and air conditioning systems and continued execution across its core business segments. The company reported a Profit Before Exceptional Items and Tax of ₹14.36 crore, compared to ₹13.70 crore in the corresponding quarter last year. However, Profit After Tax (PAT) declined to ₹8.28 crore, compared to ₹10.49 crore in Q3 FY25, primarily due to the impact of an exceptional expense of ₹3.22 crore recorded during the quarter related to labour code provisions

Operational Metrics (Q3 FY26 vs Q3 FY25): ​Frick India’s revenue growth was driven by continued strength in its core manufacturing operations. Revenue from Operations increased to ₹133.91 crore in Q3 FY26, compared to ₹125.12 crore in Q3 FY25, reflecting stable order execution and demand momentum. Other Income also improved to ₹3.06 crore from ₹2.45 crore in the previous year, supporting overall income growth. On the cost front, total expenses increased to ₹122.62 crore, compared to ₹113.88 crore in Q3 FY25, primarily due to higher material consumption and employee-related costs in line with business expansion. Despite the exceptional expense impact, the company maintained operational profitability, highlighting the resilience of its core business model.

Strategic Developments & Outlook: Frick India continues to strengthen its operational capabilities while adapting to regulatory changes, including the implementation of new labour codes, which resulted in a one-time exceptional expense during the quarter. The company remains focused on improving efficiency, executing its order book, and enhancing profitability. With its established presence in industrial refrigeration and continued demand from core industrial sectors, Frick India remains well-positioned to sustain stable revenue growth over the long term. Its strong manufacturing capabilities and industry positioning are expected to support continued operational performance and shareholder value creation.

• ​Financial Performance (Q3FY26 vs Q3FY25): In Q3FY26, NCDEX reported a YoY improvement in total income, supported by higher operating revenue and a sharp increase in other income. Total income stood at ₹46.61 Cr, compared with ₹30.47 Cr in Q3FY25, reflecting improved treasury income and recovery in core operating revenues. Revenue from operations increased to ₹25.46 Cr, from ₹21.59 Cr in Q3FY25, while other income rose significantly to ₹21.15 Cr, compared with ₹8.88 Cr in the corresponding quarter last year.Despite the improvement in income, operating performance remained under pressure due to elevated cost structures. Total expenses increased to ₹59.54 Cr, compared with ₹49.00 Cr in Q3FY25, driven primarily by higher employee benefit expenses and other operating costs.As a result, Profit Before Tax (PBT) stood at a loss of ₹(13.59) Cr, compared with a loss of ₹(18.53) Cr in Q3FY25, reflecting a narrowing of losses on a YoY basis.After accounting for tax adjustments, NCDEX reported a Net Loss of ₹(6.41) Cr, significantly lower than the Net Loss of ₹(11.80) Cr in Q3FY25, indicating partial improvement in profitability. Consequently, Earnings Per Share (EPS) improved to ₹(0.89), from ₹(2.29) in the corresponding quarter last year.For 9MFY26, total income increased to ₹108.24 Cr, compared with ₹83.00 Cr in 9MFY25, reflecting improved overall income generation during the year. However, Net Loss widened to ₹(36.43) Cr, compared with ₹(34.83) Cr in 9MFY25, highlighting continued profitability challenges despite revenue improvement.
• Operational Metrics (Q3FY26 vs Q3FY25): Profitability metrics remained under stress, although losses narrowed meaningfully on a YoY basis due to higher income growth. The improvement in revenue from operations reflects some stabilisation in trading activity, while the sharp increase in other income provided additional support to overall earnings.However, cost pressures remained elevated, with total expenses rising 21.5% YoY, driven primarily by:
  • Higher employee benefit expenses
  • Increased administrative and operational costs

Total comprehensive loss improved to ₹(6.87) Cr, compared with ₹(12.16) Cr in Q3FY25, reflecting the overall improvement in earnings performance.The exchange’s reserves remained stable at ₹673.71 Cr, indicating a strong capital base to absorb ongoing losses.

• ​Strategic Developments: During 9MFY26, NCDEX continued to focus on strengthening its operating performance and market position through:
• Efforts to improve trading participation and liquidity
• Optimisation of cost structures
• Enhancing treasury income through efficient fund deployment
• While Q3FY26 reflected meaningful narrowing of losses and strong income growth, profitability remains constrained due to structural challenges in commodity derivatives trading and high fixed operating costs. However, improving revenue trends, stable reserves, and narrowing quarterly losses provide some comfort. Sustained recovery in trading volumes and operating leverage will be critical to restoring profitability over the medium term.

Financial Performance (Q3 FY26 vs Q3 FY25): Schneider Electric President Systems Limited reported a steady revenue performance in Q3 FY26, though bottom-line figures were impacted by a one-time regulatory charge. Total revenue from operations increased by 4.9% year-on-year (YoY) to ₹115.49 Crore, compared to ₹110.07 Crore in Q3 FY25. Total income (including other income) stood at ₹117.28 Crore for the quarter, slightly lower than the ₹120.73 Crore recorded in the corresponding period last year due to a dip in other income. Profit After Tax (PAT) declined by 13.2% YoY to ₹12.14 Crore, compared with ₹13.98 Crore in Q3 FY25. This decrease was primarily driven by a non-recurring exceptional item of ₹4.56 Crore related to new labor code provisions. Earnings Per Share (EPS), restated for the bonus issue, stood at ₹10.04 compared to ₹11.50 in the previous year's third quarter.

Operational Metrics (Q3 FY26 vs Q3 FY25): Operational results reflected significant shifts in cost structures and capital base during the quarter. Total expenses (excluding tax and exceptional items) were optimized at ₹96.09 Crore, down from ₹101.01 Crore a year ago, largely aided by a ₹7.50 Crore credit from changes in inventories. Cost of raw materials and components consumed rose to ₹80.10 Crore from ₹76.11 Crore YoY. The company's paid-up equity share capital doubled to ₹12.10 Crore from ₹6.05 Crore following a 1:1 bonus share allotment. Despite the exceptional charge, the company maintained a healthy Profit Before Tax (PBT) margin (before exceptional items) of approximately 18.3% of revenue from operations. 

Strategic Developments: During the quarter, Schneider Electric President Systems Limited reached a major corporate milestone by completing a 1:1 bonus issue, allotting 6,048,000 equity shares to eligible members. This move, funded through the Securities Premium Account, increased the total paid-up equity capital to ₹12.10 Crore. A significant strategic impact was the recognition of ₹4.56 Crore as an exceptional item. This charge represents the estimated incremental impact on gratuity following the Government of India's notification of four new Labour Codes on November 21, 2025. The management continues to monitor the finalization of state rules regarding these codes to provide further accounting treatments as required. Furthermore, the company maintains its focus on a single primary business segment involving products and systems for electricity distribution.

Financial Performance (Q3 FY26 vs Q3 FY25): NCL Buildtek Ltd reported a steady financial performance in Q3 FY26, with Revenue from Operations increasing by 9.54% year-on-year (YoY) to ₹106.17 crore, compared to ₹96.92 crore in Q3 FY25. This topline growth reflects continued demand in its core segments. The company achieved a significant operational turnaround, reporting a Profit Before Exceptional Items of ₹2.14 crore, recovering from a loss of ₹0.60 crore in the corresponding quarter last year. However, reported Profit After Tax (PAT) stood at ₹1.69 crore, a decline from the ₹57 crore reported in Q3 FY25, primarily because the previous year's figure was boosted by a one-time exceptional gain of ₹39.97 crore which was absent in the current quarter.

Operational Metrics (Q3 FY26 vs Q3 FY25): The Windoors segment anchored the growth momentum with revenue climbing 12.7% YoY to ₹53.14 crore (up from ₹47.15 crore), accompanied by a sharp rise in segment profit to ₹2.67 crore from ₹0.78 crore in the prior year. The Coatings segment also delivered strong growth, expanding 16.1% YoY to ₹28.83 crore. While the Walls segment saw a marginal revenue dip to ₹24.20 crore, it successfully turned operationally profitable, posting a segment profit of ₹0.99 crore compared to a loss of ₹0.39 crore in Q3 FY25.

Strategic Developments & Outlook: NCL Buildtek’s focus on financial discipline is evident in its improved solvency ratios. The Consolidated Debt-Equity Ratio improved to 0.16 in Q3 FY26 from 0.27 in the corresponding quarter of the previous year. Additionally, the Debt Service Coverage Ratio strengthened significantly to 0.97 (up from 0.41), and the Interest Coverage Ratio rose to 1.56 (up from 1.42), signaling enhanced capability to service obligations and a stronger balance sheet structure. The company continues to optimize its segment mix, with Windoors and Coatings now driving the bulk of operational profitability.

Financial Performance (Q3 FY26 vs Q3 FY25): Midland Microfin Limited reported a strong improvement in profitability in Q3 FY26, supported by higher operational revenue and fee income. Total revenue from operations increased by 10.3% year-on-year (YoY) to ₹1,657.43 million, compared to ₹1,503.14 million in Q3 FY25, driven by growth in interest income and fees. Total income (including other income) also improved during the quarter, aided by an increase in other income sources. Profit After Tax (PAT) rose significantly by 74.5% YoY to ₹83.22 million, compared with ₹47.68 million in the corresponding quarter last year, reflecting better operational performance despite increased impairment costs. Earnings Per Share (EPS) increased to ₹1.59 from ₹0.77 in Q3 FY25, indicating improved shareholder profitability.

Operational Metrics (Q3 FY26 vs Q3 FY25): Operational performance remained resilient during the quarter. The net profit margin stood at 4.94%, reflecting the company's ability to maintain margins amidst operational costs. The impairment on financial instruments remained elevated at ₹323.77 million, compared to ₹138.61 million a year ago, indicating a cautious approach to provisioning for potential credit risks. Asset quality remained manageable, with the Gross Non-Performing Assets (GNPA) Ratio at 2.97% and the Net Non-Performing Assets (NNPA) Ratio at 0.73%. The company maintained a healthy buffer against defaults, with the Provision Coverage Ratio at 75.87%. The Debt-Equity Ratio stood at 3.58, while the company maintained a robust capital position with a Capital Adequacy Ratio of 30.05%, comfortably above regulatory requirements.

​Strategic Developments: During the quarter, Midland Microfin Limited continued to focus on expanding its lending activities, utilizing proceeds from the issuance of secured and unsecured Non-Convertible Debentures (NCDs) primarily for onward lending​​​​​​​​​. The company maintained a strong capital base, with net worth standing at ₹6,633.83 million, supported by retained earnings​. While impairment costs saw an increase, strong solvency buffers and stable liquidity provide resilience, evidenced by a security cover maintained at 1.11 times on secured listed debt​. Management remains focused on maintaining asset quality, complying with covenants, and optimizing its funding mix to support sustainable profitability over the medium term​.

InSolare Energy has been awarded a repeat Engineering, Procurement & Construction (EPC) contract for a 50 MW AC / 70 MWp DC utility-scale solar project in Jaitpur, Uttar Pradesh, by a leading renewable energy developer.

This new order underscores InSolare’s execution strength and deepening client trust, reflecting its ability to deliver large-scale solar infrastructure with consistency and quality in India’s competitive clean energy market.

The project’s 70 MWp DC capacity refers to the total solar panel generation potential, while 50 MW AC denotes the grid-export capacity after conversion — a structure that optimises energy yield and performance efficiency.

Securing a repeat mandate from an established developer highlights InSolare’s operational reliability, timely delivery, and strong on-ground execution capabilities — key differentiators in the EPC segment where trust and performance often drive future business.

The Jaitpur solar project also strengthens InSolare’s order pipeline and regional presence in northern India, contributing to its broader ambitions in utility-scale solar deployment. The award will support the company’s revenue visibility and backlog growth over the execution period.

This development aligns with India’s aggressive renewable energy goals and expanding solar capacity targets, as the country progresses toward a cleaner, low-carbon energy mix.

InSolare continues to build on its reputation as a trusted EPC partner, reinforcing its role in India’s energy transition and sustainable infrastructure growth.

Amid market reports regarding a potential initial public offering (IPO), the Chennai Bench of the National Company Law Tribunal (NCLT) has issued notice to Polymatech Electronics Limited over an insolvency petition alleging a default of Rs 157.20 crore.

The petition, filed under the Insolvency and Bankruptcy Code (IBC) by operational creditors, seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against the company. The creditors have alleged that Polymatech failed to clear advisory fees and honour certain equity commitments despite repeated assurances and partial payments. Submissions before the tribunal indicate that while portions of the outstanding amount were acknowledged and part-payments were made, the balance dues remain unpaid.

The petitioners were represented by Senior Advocate P.V. Balasubramaniam along with Advocates Aditya Bharat Manubarwala and Amogh Simha. They informed the tribunal that a statutory demand notice was issued in January 2025, and that no formal reply was received within the stipulated period. The petitioners further contended that the company’s partial payments constitute acknowledgment of liability under applicable law.

Advocate Roshan appeared on behalf of Polymatech Electronics Limited and accepted notice for the corporate debtor. Following preliminary submissions, the NCLT issued notice in the matter and listed it for further hearing on March 26, 2026.

If admitted, the plea could result in the appointment of an Interim Resolution Professional and the commencement of CIRP, potentially impacting management control, operational continuity, and stakeholder interests. The matter is now slated for further consideration on the scheduled date.

The recent Union Budget has made one thing clear — Battery Energy Storage Systems (BESS) are becoming a national priority. With customs duty benefits and policy support aimed at strengthening the domestic storage ecosystem, the government is actively encouraging large-scale adoption of energy storage solutions.

Against this strong policy backdrop, Sundrops Energia Pvt. Ltd. has secured a 120 MW / 240 MWh BESS project in GUVNL’s 670 MWh auction, as reported by Mercom India.

This is more than just a project win. It marks Sundrops Energia’s clear entry into large-scale battery storage — a segment expected to grow rapidly as India increases its renewable energy capacity.

As solar and wind installations expand, storage becomes essential to:

• Store excess power generated during peak hours

• Supply electricity when demand is high

• Improve grid stability

• Enable round-the-clock renewable energy

By securing this project at a time when policy support and market demand are both strengthening, Sundrops Energia is aligning itself with the next phase of India’s clean energy growth.

With supportive government measures and execution already underway, the company is positioning itself to participate meaningfully in India’s fast-evolving energy storage landscape.

For more details on the auction results, you can read the full coverage on Mercom India.
​Advait Energy, Equentia, Sun Drops Win GUVNL’s 670 MWh BESS Auction​