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Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine

Boiler blast at Vedanta plant in Chhattisgarh kills 11, injures 22 Madhya Pradesh CM says basmati rice from the State is exported to 47 nations IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy Sify data centre arm IPO on track and will be timed with market conditions, says CFO BALCO deploys AI humanoid agent for real-time training, operations and safety Funskool clocks $40 million revenue in FY26, despite tariff headwinds Val-Met Engineering secures ₹200 crore funding from Nuvama Crossover Opportunities Funds BEML secures $36.38 million export order from West Asia region Chitale Bandhu Mithaiwale to inaugurate new production facility near Pune NCLT allows personal guarantee case against Videocon promoter Dhoot No immediate impact of US blocking Iranian vessels on India’s crude cargoes Indian spacetech startups shift gears from R&D to scalable manufacturing Protest by factory workers in Noida, Faridabad turns violent Sharon Pais takes over as Head of Myntra Nadir Godrej to retire as chairperson, Pirojsha Godrej named successor APAC emerges as growth engine amid data sovereignty push: IBM’s Hans Dekkers Unicharm India expands Diabetes Care portfolio Sarovar Hotels sees traction in tier II cities, pilgrimage towns Motherson Sumi Wiring says no impact on operations amid Noida labour protests Aster DM Healthcare invests ₹96 cr to expand Aster Whitefield by 159 beds Ola Electric launches S1 X+ 5.2 kWh with 4680 Bharat Cells India’s active LED display market hits ₹2,000 crore China’s TCL is said to consider stake sale in India TV business Strengthening R&D, investment key for Indian drugmakers to lead globally: Nadda Piper Serica deploys ₹210 crore in 33 start-ups; to invest remaining ₹63 crore in 2-3 months NCLAT adjourns hearing on Vedanta plea against selection of Adani's bid for JAL GE Aerospace signs contract with Indian Air Force to help establish in-country depot for F404-IN20 engines RateGain launches AI-driven hotel marketing certification programme Q4 Results This Week: HDFC Bank, ICICI Bank, Wipro, Just Dial among 42 companies reporting GE Aerospace scales AI from pilots to production; India anchors global capability
Petitioner withdraws plea to stall Tata Trusts meeting af...
2026-05-13 · via Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine
Bombay High Court questions plea’s maintainability.

Bombay High Court questions plea’s maintainability.

Petitioner Suresh Tulsiram Patilkhede who was seeking a stay on the May 16 board meeting of the Sir Ratan Tata Trust (SRTT) withdrew his plea before the Bombay High Court on Wednesday after the court strongly criticised his conduct and questioned the basis of the petition.

A vacation bench of Justices Advait Sethna and Sandesh Patil said it was “shocked” to learn that the petitioner had not himself filed the representations before the Charity Commissioner on which his case was based. The court observed that the representations had instead been made by third parties.

The bench said, “We are constrained to observe that the proceedings bring out a shocking state of affairs. This is more so for the reason that certain representations are made to the charity commissioner with regards to violation of section 30(A) 2. On a query put to petitioner, I have been informed that the representations are pending. What is disturbing is that these representations aren’t made by the petitioner but by some other party whose particulars aren’t known to this court.”

The court observed that the lawyer had said that the petitioner admits it was a mistake and to condone it.

It also pointed out that the petition was moved on grounds of extreme urgency as the meeting was on May 16 and it would violate the section and the resolution passed should not be acted upon.

The court expressed prima facie displeasure in the manner the proceedings had been filed and said that the petitioner’s request to withdraw was granted. It added that if they wanted to apply somewhere else, they could, but strictly in accordance with law.

Patilkhede had challenged the composition of the SRTT board, contending that it violated amendments to the Maharashtra Public Trusts Act that came into force on September 1, 2025. The petitioner argued that three of the trust’s six trustees were perpetual trustees, exceeding the amended law’s 25 per cent cap unless specifically permitted by the trust deed.

The petition said that the board must first be reconstituted before any meeting could be held, claiming decisions taken at the May 16 meeting would otherwise be illegal. However, the bench questioned the plea’s maintainability, observing that the Charity Commissioner was already empowered to examine such issues.

“Do not pre-empt anything. This is too early for you to say all this,” Justice Patil remarked.

Senior advocates Abhishek Manu Singhvi and Janak Dwarkadas, appearing for some board members, argued that Patilkhede was neither a trustee nor a beneficiary of SRTT. They also contended that the amendment was prospective, not retrospective, and noted that the board had already held several meetings since September 2025 without objection.

Published on May 13, 2026