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Tata Trusts postpones crucial board meeting

Tata Trusts has postponed its key board meetings to May 16 amid ongoing legal challenges and governance concerns linked to Tata Sons.

The meetings of Sir Dorabji Tata Trust and Sir Ratan Tata Trust were earlier scheduled for May 8 and were expected to discuss important matters related to board representation and Tata Sons’ future structure.

The postponement follows petitions filed in the Bombay High Court challenging certain trustee decisions.

Although the court declined immediate intervention, the issue has intensified scrutiny around governance within the Trusts. Tata Trusts, chaired by Noel Tata, remains the largest shareholder in Tata Sons.

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Zee sues Reliance–Disney, Nykaa over music use

Alleges unauthorised use of songs in streaming and Instagram promotions.

Zee Entertainment has filed separate copyright cases against Reliance–Disney joint venture and Nykaa, alleging unauthorised use of its music without valid licences.

In the Reliance–Disney case, Zee claims its songs were used on streaming and broadcast platforms even after agreements expired. It is seeking damages of about $3 million for multiple alleged violations.

In a second case, Zee has accused Nykaa of using its songs in Instagram promotional reels without permission. It has sought around ₹2 crore in damages. Nykaa has removed the content, while both matters are pending in court.

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Rupee dips on rising oil, US–Iran talk uncertainty

The Indian rupee fell 28 paise to 94.77 against the US dollar in early trade on Thursday, pressured by rising crude oil prices and global uncertainty.

Traders said the currency weakened after a brief recovery in the previous session as Brent crude climbed back above the $100 per barrel mark. Market sentiment was also affected by ongoing US–Iran talks, which created volatility in oil prices.

Since India relies heavily on oil imports, higher crude prices increase dollar demand and weigh on the rupee. Foreign fund outflows and cautious global sentiment added further pressure on the currency’s movement.

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Coforge profit more than doubles to ₹612 cr in Q4

IT services firm Coforge posted a strong set of results for the fourth quarter, with its net profit more than doubling to ₹612 crore, marking a 144% jump compared to the same period last year. The company’s performance was supported by healthy deal wins and steady demand from global clients.

Revenue also grew 30% year-on-year to ₹4,450 crore, driven mainly by strong business in key international markets, especially the Americas. Coforge said new contracts and consistent execution helped boost overall momentum during the quarter.

The company remains optimistic as demand for digital transformation services continues to support growth.

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NSE posts 8% rise in Q4 profit to ₹2,871 cr

The National Stock Exchange (NSE) reported an 8% year-on-year rise in consolidated net profit to ₹2,871 crore for the March quarter, compared to ₹2,650 crore a year earlier. Revenue from operations jumped 32% to ₹4,968 crore, driven by higher trading volumes in equity and derivatives segments.

Transaction charges remained the biggest revenue source, supported by strong market activity. The board has recommended a dividend of ₹35 per share for FY26, subject to approval.

The results highlight steady growth in profitability and trading activity, reflecting continued investor participation in India’s capital markets.

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SC allows US lenders on Byju’s creditor panel

The Supreme Court of India has dismissed a plea by Byju Raveendran, allowing US lenders to be part of Byju’s’ creditor panel.

The ruling strengthens the position of lenders in the ongoing insolvency proceedings of the embattled edtech firm.

Raveendran had challenged the inclusion of these lenders, but the court rejected his arguments, paving the way for their participation in key decisions related to the company’s future.

The move is seen as a setback for the founder, as creditors gain greater influence over restructuring and recovery plans.

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OPEC plans small output increase amid gulf tensions

OPEC and its allies have decided to slightly increase oil production by around 188,000 barrels per day from June. This is the third straight month of output hikes, aimed at calming global markets.

However, the impact may be limited. Ongoing tensions in the Gulf region have disrupted shipments through the Strait of Hormuz, a key route for global oil trade.

As a result, even with higher production targets, actual supply remains tight. Oil prices continue to stay elevated, and analysts say stability will depend on easing geopolitical tensions and restoring normal shipping routes.

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Gautam Adani launches employee initiative on anniversary

Gautam Adani marked his 40th wedding anniversary by offering prayers at Kedarnath Temple along with his wife, Priti Adani.

The day was special as it coincided with both his anniversary and International Labour Day. The couple prayed for the country’s progress and well-being.

On the same occasion, Adani announced a new employee initiative called “Apni Baat, Apno Ke Saath”. The platform aims to connect with over four lakh employees across the Adani Group and encourage open communication.

In a message, he thanked his wife for her support over the years, calling her a key part of his journey.

The announcement reflects both a personal milestone and a step towards improving employee engagement within the group.

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JPMorgan executive sued over sexual assault allegations

A senior JPMorgan Chase executive has been accused in a lawsuit of sexually assaulting and harassing a junior employee, according to reports.

The case has been filed in a New York court by a male employee who alleges repeated sexual coercion and workplace harassment beginning in 2024. He claims he was also subjected to threatening behaviour and racially charged remarks during the period.

The complaint further states that after he raised concerns internally, he faced retaliation, including restricted system access and eventual termination from his role.

The accused executive, Lorna Hajdini, has denied all allegations. JPMorgan has also rejected the claims, stating that an internal investigation did not find evidence supporting the complaint.

The matter remains under legal review, with proceedings ongoing and no judicial findings yet.

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EPFO rolls out E-PRAAPTI as PF account tracker

The Employees’ Provident Fund Organisation (EPFO) is introducing a new online system called E-PRAAPTI to help people trace and manage old or inactive PF accounts.

Many workers change jobs over time and end up with multiple or forgotten provident fund accounts. This new portal will help them link and merge those accounts using Aadhaar and their Universal Account Number (UAN).

Officials say the system will also make it easier for subscribers to recover unclaimed money. Overall, the move is aimed at making PF account management simpler, faster, and more transparent for millions of employees.