The partnership will be implemented through two strategic JVs focusing on high-voltage liquid-cooled traction inverters, traction motors and generators for electric and hybrid four-wheelers and larger vehicle applications and the other one on air-cooled traction inverters, traction motors and generators, and e-Axles for electric and hybrid two-wheelers and three-wheelers, the company said.

By combining DENSO’s technology leadership in electrification, advanced product engineering and R&D capabilities with Sona Comstar’s proven engineering excellence and deep understanding of the Indian automotive ecosystem, the partners aim to build scalable and cost-efficient advanced electric and hybrid powertrain solutions, it said.

The transaction is subject to receipt of relevant regulatory approvals and customary closing conditions mutually agreed between the parties in the definitive agreements, it said.

The global automotive industry is undergoing a significant shift towards electrification, and similar trends are also playing out in India across vehicle segments. This transition is creating the need for advanced, reliable and cost-effective electric and hybrid powertrain systems, Sona Comstar said.

Leveraging India’s growing position as a global automotive manufacturing and innovation hub, the proposed joint ventures will be anchored in India and will develop products that meet global standards of quality and performance, it added.

“We have partnered with DENSO to bring together the complementary strengths of both companies and build advanced electric and hybrid powertrain solutions for four-wheelers and larger vehicle applications,” said Vivek Vikram Singh, MD and Group CEO of Sona Comstar.

For the electric and hybrid powertrain systems for four-wheeler and more than four-wheeler applications JV, Sona Comstar and DENSO have entered into a Joint Development Agreement (JDA) to develop high-efficiency liquid-cooled traction inverters, traction motors and generators for electric and hybrid passenger vehicles, commercial vehicles and other high-voltage applications.

To commercialize these products, the partners will establish a joint venture to manufacture them in India with DENSO holding 51 per cent equity stake and assume management control, while Sona Comstar will hold the remaining 49 per cent and contribute its engineering capabilities, manufacturing expertise and established supply chain ecosystem, it said.

In the electric and hybrid powertrain systems for two and three-wheeler applications JV, Sona Comstar will transfer its existing electric traction motor and controller business for two-wheelers and three-wheelers, into its wholly owned subsidiary through slump sale.

Subsequent to this transfer, DENSO, directly or through its affiliates, will acquire a 49 per cent equity stake in that entity at an enterprise value of Rs 1,750 crore, while Sona Comstar will retain the balance 51 per cent and management control, the company said.

This joint venture will engage in the business of air-cooled traction inverters, traction motors and generators and e-Axles for electric and hybrid two- and three-wheelers, Sona Comstar said and added this partnership aims to expand product offerings through accelerated innovation and create opportunities to serve a broader customer base.

Both DENSO and Sona Comstar shall license intellectual property and know-how to their respective majority-owned joint ventures against payment of royalty.

“The electrification of mobility represents a major transformation that will continue to evolve in response to the diverse needs of customers and society across the world. India, in particular, is an important region where diverse forms of mobility coexist and electrification is advancing at significant scale.

“Through this partnership, we will bring together the respective strengths that both companies have built over the years to provide electrification solutions that address the diverse needs of customers in India,” said Tsuneo Maebara, Head of Powertrain Systems Business Group at DENSO Corporation.

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The corporate insolvency resolution process (CIRP) was initiated following the admission of an insolvency petition filed by IDBI Trusteeship Services. Claims of over Rs 3,255.82 crore were admitted, with IDBI Trusteeship Services accounting for the entire voting share in the CoC.

The resolution plan, which received 100% approval from the sole committee of creditors (CoC), represented by IDBI Trusteeship Services, envisages a total resolution value of Rs 352.50 crore.

“The resolution plan, which received 100% approval from the sole CoC, represented by IDBI Trusteeship Services, includes a total resolution value of Rs 352.50 crore, against the Maximum Fair Value as obtained by the COC of the Assets being 132.98 crores, and the Maximum Liquidation Value being 86.15 crores,” said Sukumar Shetty, MD & Group COO, Aspect Group.

He further added that such offers are accepted by the CoC based on the existing valuation of assets as provided under the Insolvency and Bankruptcy Code, 2016 and not proportionate to the claim.

Instead of a cash payout, the secured financial creditor will receive up to 100,000 sq ft of constructed free-sale area in the company’s slum rehabilitation project at Teenmurti in Mumbai’s Magathane area in Borivali.

The resolution professional, through counsel Nausher Kohli, informed the tribunal that in the successful bidder, 50% capital is held by Aspect Infrastructure & Construction (AICPL), an Aspect Group company with over 15 years realty and infrastructure projects execution experience and the balance 50% of the capital is held by Karmas Buildcon LLP.

The resolution process witnessed multiple rounds of invitations for expressions of interest and repeated attempts to attract bidders after earlier plans either failed eligibility requirements or were rejected on commercial grounds. Bharadvaja Buildcon emerged as the successful resolution applicant after its proposal secured unanimous approval from the CoC in April 2025.

According to the resolution plan, project funding will be supported through promoter contributions, internal accruals and, if required, external borrowings. The successful resolution applicant has already deposited the required Rs 1 crore performance security following the issuance of the letter of intent.

As per the plan, construction of the free-sale component would commence within 25 months of plan approval and the secured creditor’s entitlement would be delivered within the following 24 months, taking the overall outer timeline to 49 months. The NCLT observed that the resolution plan complied with the mandatory provisions of the Insolvency and Bankruptcy Code and the CIRP regulations.

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The maiden acquisition by the company is aimed at strengthening its presence in the consumer finance segment, according to an official statement.

The company said the acquisition aligns with its ambition to build a Rs 1 lakh crore assets under management (AUM) franchise and serve more than one million customers by 2031.

Kanakadurga Finance’s gold loan business has Rs 280 crore AUM with nearly 12,000 customers, 54 operational branches across Andhra Pradesh and an experienced team of around 250 employees, which will help Godrej Capital scale up operations in this vertical.

Currently, the company is primarily engaged in MSME lending and housing finance. It has also established a consumer finance platform focused on long-term growth.

The company said it has built a strong foundation over the past five years through investments in technology, risk management and customer-centric operations and the acquisition will help create a more diversified lending institution.

“The acquisition of Kanakadurga Finance’s gold loan business marks an important milestone in Godrej Capital’s journey and represents our first strategic acquisition as we continue building a larger and more diversified financial services franchise with a five-year ambition of achieving Rs 1 lakh crore AUM,” Manish Shah, managing director and chief executive officer, Godrej Capital, said.

The gold loans segment has been witnessing very high growth in the past few months amid the increase in prices of the precious commodity and also lenders’ comfort because of the secured nature of the product.

Outstanding loans against gold jewellery stood at Rs 3.29 lakh crore at the end of May 2026, up 69.9 per cent from Rs 1.94 lakh crore a year earlier.

This has led to jostling among financiers to enter the fray, with new operations and acquisitions of existing entities.

On July 13, Tata Capital acquired a majority stake in Kerala-based Yogakshemam Loans (Yogloans), marking the Tata Group financial services company’s entry into the gold loan business.

In June, Godrej Capital had launched its wealth management business and set a target of Rs 1 lakh crore over the next five years. The wealth management business will initially focus on eight key cities before expanding to 35 locations over the next three years.

Last month, Shah told PTI that Godrej Capital is targeting assets under management (AUM) of Rs 38,000 crore by the end of the current financial year and plans to take the business public in the next five years.

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Private equity firm CX Partners has begun the process of exiting its seven-year-old majority stake in Tamil Nadu-based restaurant chain Thalappakatti Hotels Pvt. Ltd, according to three people familiar with the development.

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A share purchase agreement to this end was signed on Friday.

The bank’s ownership in the insurance company will now come down to 2.5%.

It will divest 10.25 million equity shares in PNB MetLife at Rs 117.20 apiece, taking the total deal value to Rs 120.1 crore.

The bank board approved the sale on January 20, 2026.

The share sale will not result in a change in control of PNB MetLife, which ranked 10th among the life insurers in terms of new business premium at the end of March.

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“We will go through the process internally in terms of weighing the pros and cons of increasing the stake, and then go back to the regulator and check if they are open to this idea,” Axis Bank executive director Subrat Mohanty said.

“There is an opportunity based on the clarification the RBI came up with in December last year,” he said, in a post-earnings analyst call Saturday.

The third-largest private sector lender in terms of business has long wanted a larger holding in the insurance company but had been constrained by regulation.

“As you know, in the past we were always keen on having a higher stake. At that point in time, the regulations didn’t allow us,” Mohanty said, adding that the evaluation is now underway. “This particular evaluation will happen, and we will let you know based on our internal conversations and board approvals.”

India’s private lenders bet on corporate loan revival for growth

Axis Bank’s push to raise its stake in Max Life is not new-it has been building its position steadily for over a decade.

In June 2026, Axis Bank announced a further investment of up to Rs 381 crore in Axis Max Life Insurance, taking the combined shareholding of Axis Bank and its subsidiaries-Axis Capital and Axis Securities-from 19.02% to 19.99%. Max Financial Services holds 80.01%.

Based on the last round of stake purchase, it would cost Axis about Rs 3,900 crore for the additional 10.01% to take its stake to 30%. However, valuation could change by the time the plan takes a shape.

The possibility of raising stakes comes from the RBI’s December 2025 master directions, which set out a tiered framework for bank ownership in insurance companies. Under these rules, banks must secure prior regulatory approval to hold a 20% or higher equity stake in an insurer.

Trade, NBFC credit to remain fastest-growing lending segments: Report

Stakes between 20% and 30% require the bank to submit a time-bound restructuring plan, while any investment up to 50% is capped at 10% of the bank’s paid-up capital and reserves. The framework is designed to keep a check on how much capital banks can deploy into underwriting risk via their insurance holdings.

The life insurer, which is not publicly listed, earned a Rs 54 crore net profit in FY26. According to the company website, it has secured 1.01 crore lives so far and manages total assets of Rs 1.75 lakh crore.

In April 2020, Axis Bank had agreed to acquire a total holding of 30% and made Max Life a 70:30 joint venture with Max Financial Services. That deal was scaled back in August 2020 to a 17% stake purchase, taking total ownership to 18% instead-a reflection of the regulatory constraints in place at the time.

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In tandem with the acquisition, the company announced that MTRPL has been awarded the AS9100D Certification for Precision Machined Components and Bearings for Aerospace & Defense, the gold standard for aviation manufacturing excellence.

This acquisition extends NRB’s capabilities well beyond its core automotive and industrial verticals. It positions the Group to capture a meaningful share of the estimated $14.5B-$16.5B global aerospace ecosystem for critical components, including landing gear parts, fuel injection systems, emergency doors, and plain spherical bearings.

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The creation of NaBFID in 2021 came with the ambition to merge it with its older cousin IIFCL, but the plan never took off. Momentum from the ongoing merger of REC and PFC has given the plan a new life. The idea is to create a stronger DFI that can aid India’s rapidly growing infra financing needs.

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The company also signed a fresh seven-year technology services agreement with the insurer. The acquisition is expected to close on August 1 and is not subject to regulatory approvals.

HCLTech will acquire a 100% stake in Guardian India Operations, which provides technology, engineering and operations support across Guardian’s group benefits, retirement, and wealth management businesses. Following the transaction, around 2,000 employees of the GCC will transition to HCLTech and operate through a dedicated strategic business unit focused exclusively on serving Guardian.

The acquisition is part of an expanded partnership between the two companies under which HCLTech will continue to support Guardian’s technology and operations transformation, including deploying artificial intelligence-led capabilities across its business.

In its regulatory filing, HCLTech said the acquisition would strengthen its capabilities in insurance technology and operations services by adding specialised expertise across insurance, retirement, wealth management, and employee benefits. Guardian India reported revenue of Rs 578.8 crore in FY26, according to unaudited financial statements.

“This expanded partnership reflects the strength of our relationship with Guardian and our shared focus on scaling AI and modernizing operations,” said Srinivasan Seshadri, chief growth officer, HCLTech. He added that the two companies will co-create products and intellectual property for the insurance industry.

Earlier this week, HCLTech reported a 20% year-on-year increase in consolidated net profit to Rs 4,624 crore for the first quarter of FY27, while revenue from operations rose 13% to Rs 34,579 crore. Additionally, the company’s board approved an investment of up to Rs 3,500 crore to set up AI data centres in India as part of its expansion into the full-stack AI market.

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