Supreme Court stays SASTRA eviction, orders Tamil Nadu Govt review

Supreme Court stays SASTRA eviction, orders Tamil Nadu Govt review


While noting that encroachment on public land cannot be encouraged, the bench emphasised that SASTRA performs a public welfare function and that its functioning should not be disrupted meanwhile. The dispute involves 31.37 acres integrated with the university’s campus.
| Photo Credit:
SHASHI SHEKHAR KASHYAP

The Supreme Court on Thursday stayed a Madras High Court direction ordering the eviction of Shanmugha Arts, Science, Technology & Research Academy (SASTRA) from government land in Thanjavur, saying the Tamil Nadu government should not make a dispute of a “prestige issue.”

A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vijay Bishnoi asked the state government, represented by senior advocate Rakesh Dwivedi, to set up a high-powered committee of three senior state officials to consider SASTRA’s representation and accord the institution a hearing before deciding the issue in four weeks.

Asking the state to act “sensitively” while dealing with public educational institutions, the bench said till the time the representation is decided by the panel, the functioning of the institution should not be hindered.

Notes encroachment, but emphasises welfare role

The bench, however, noted that the encroachment on public land cannot be encouraged.

The present case involved a public educational institution performing a welfare function and not a commercial enterprise, it said, adding that a welfare state must take into account the role played by such institutions in furthering public interest.

“The land has been utilised for decades by a university performing a public function. States must be sensitive in dealing with such institutions,” the bench said, granting interim relief to SASTRA.

The interim order came on an appeal filed by SASTRA challenging the Madras High Court judgment of January 9.

The high court had upheld the state’s decision rejecting the university’s request for assignment or exchange of government land and directed implementation of an eviction notice within four weeks.

Land dispute centres on 31.37 acres within campus

At the heart of the dispute is 31.37 acres of government land that is interspersed with and contiguous to SASTRA’s own patta land.

According to the university, the disputed land forms an inseparable part of its campus that houses academic buildings, hostels, utility infrastructure, and has access roads.

In its plea before the top court, SASTRA contended that enforcement of the high court’s eviction order would severely disrupt the functioning of the university and affect more than 12,000 students enrolled across disciplines, including law, engineering, sciences, management and liberal arts.

Long legal trail from 2018 to 2026 verdict

The top court had in 2018 had dismissed a plea of SASTRA.

The bench had, however, granted liberty to the university to submit representations to the state authorities seeking regularisation or alternative relief.

Pursuant to the order, SASTRA submitted several representations between 2018 and 2021, including proposals for the exchange of alternative land parcels.

Although the Tamil Nadu government constituted a committee to examine the issue, the representations were ultimately rejected in 2022.

The rejection was followed by an eviction notice on February 25, 2022, prompting SASTRA to approach the Madras High Court.

While those writ petitions were pending, the high court passed interim orders on August 8, 2022 and September 6, 2022, recording that classrooms and hostels were functioning on the disputed land.

The court placed the land under its own control pending final adjudication, restrained further construction, and clarified that students’ education would not be disrupted, though continued use was made subject to the outcome of the case.

High court eviction order triggers appeal

On January 9, 2026, the high court dismissed the writ petitions, upheld the state’s rejection of SASTRA’s representations and directed eviction.

The university has stated that government officials came to the campus the very next day to assert control over portions of the disputed land.

The SASTRA is a prominent private deemed university in Thanjavur’s Thirumalaisamudram.

Published on January 15, 2026



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Union Budget 2026: घरों का Gold बनेगा Growth Engine?|Digital Gold, SGB & Economy Impact | Paisa Live

Union Budget 2026: घरों का Gold बनेगा Growth Engine?|Digital Gold, SGB & Economy Impact | Paisa Live


Union Budget 2026 के साथ एक बड़ा सवाल सामने है—क्या India के घरों में पड़ा सोना economy को नई रफ्तार दे सकता है? Indian households के पास करीब 34,600 tonnes gold है, जिसकी value $2.5–3 trillion तक आंकी जाती है, लेकिन इसका बड़ा हिस्सा lockers और almariyon में idle पड़ा है। इस video में Digital Gold regulation, Sovereign Gold Bonds (SGBs) की possible वापसी और Gold Loan market के expansion पर चर्चा की गई है। अगर सिर्फ 5% idle gold भी financial system में आए, तो economy पर बड़ा impact पड़ सकता है। साथ ही record gold prices, jewellery demand slowdown और Union Budget 2026 के policy options को detail में समझाया गया है। यह video दिखाता है कि सोना सिर्फ investment नहीं, बल्कि India के growth engine का fuel बन सकता है।



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Bank Crash से Road Protests तक – Iran में क्या हुआ ?| Paisa Live

Bank Crash से Road Protests तक – Iran में क्या हुआ ?| Paisa Live


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HDFC Life Q3 net up 1.4% at ₹420.73 crore on ₹98-crore impact of new labour code

HDFC Life Q3 net up 1.4% at ₹420.73 crore on ₹98-crore impact of new labour code


Vibha Padalkar, Managing Director and CEO, HDFC Life Insurance

Private sector insurer HDFC Life Insurance on Thursday reported a 1.39 per cent year-on-year increase in its standalone net profit to ₹420.73 crore in the third quarter this fiscal, as its profitability was impacted by around ₹98 crore during the period, pursuant to the implementation of the new labour codes.

The insurer had registered a net profit of ₹414.94 crore in the third quarter last fiscal.

“The new labour codes are in place now, and we had to give effect to the labour codes in this period. In line with all companies which have taken a hit in this period, we have also done that. So the impact is about Rs 98 crore on this (Q3FY26) quarter’s profit. That is the reason why the net profit growth is 1.4 per cent. It would have been 15 per cent without looking at the labour codes impact. So, 15 per cent is a normalised number, and it is in line with what we would have wanted to generate and reflect for this period,” Niraj Shah, Executive Director & Chief Financial Officer, HDFC Life Insurance, told businessline.

During the third quarter of this fiscal, net premium income rose 8.77 per cent year-on-year at ₹18,242.39 crore compared to ₹16,771.26 crore in the corresponding period last fiscal.

The first-year premium increased 11.98 per cent y-o-y at ₹3,324.49 crore, whereas renewal premium rose 11.72 per cent y-o-y to ₹10,474.52 crore for the period under review. Single premium witnessed a 1.49 per cent y-o-y increase at ₹5,004.36 crore in Q3FY26, according to a stock exchange filing.

Notably, individual Annualised Premium Equivalent (APE) growth was 13 per cent y-o-y for the third quarter.

For the nine-month period of FY26, total APE grew 11 per cent y-o-y at ₹11,387 crore from ₹10,293 crore for the corresponding period of FY25. Annualised Premium Equivalent is the sum of annualized first year regular premiums and 10 per cent weighted single premiums and single premium top-ups.

Value of New Business (VNB), which is the measure of profitability for a life insurance company, witnessed around 7 per cent y-o-y growth at ₹2,770 crore for 9MFY26, as against ₹2,590 crore for the same period in thr last fiscal. The VNB margin stood at 24.4 per cent, compared to 25.1 per cent in the year-ago period.

“While a better product profile helped us expand margins by 110 basis points, there was an offset largely on account of the GST impact. Our margins ended at 24.4 per cent, translating into VNB growth of 7 per cent y-o-y and a two-year CAGR of 11 per cent for 9MFY26. On an adjusted basis, VNB growth excluding the impact of GST and surrender regulation change would have been 13 per cent for 9MFY26 and 11 per cent for Q3FY26.” said Vibha Padalkar, Managing Director and CEO, HDFC Life Insurance.

Padalkar said the life insurance sector saw an acceleration in momentum during the third quarter this fiscal, supported by recent policy reforms and a rising preference for protection-led solutions. The GST exemption acted as a meaningful catalyst, particularly for the protection segment, improving affordability and driving a pickup in demand.

“Against this backdrop, the industry reported year-on-year growth of around 10 per cent, with HDFC Life growing faster at 11 per cent on individual WRP. As expected, our growth in Q3 outpaced H1, leading to an acceleration in the nine-month growth. This improvement was largely volume-driven, with the number of policies recording double-digit growth during the quarter,” she said.

The company expects this momentum to sustain into the fourth quarter, supporting a balanced and healthy full-year outcome.

“Our product mix in 9MFY26 reflects evolving customer preferences and market trends, with ULIPs contributing 43 per cent, participating products at 27 per cent, non-par savings at 19 per cent, term at 7 per cent and annuity at 4 per cent,” Padalkar added.

Published on January 15, 2026



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Jio Finance Q3 consolidated PAT down marginally on higher expenses

Jio Finance Q3 consolidated PAT down marginally on higher expenses


Mukesh Ambani backed Jio Financial Services (JFS) on Thursday reported consolidated Q3FY26 net profit at ₹269 crore, slightly lower than ₹295 crore in the same period last fiscal, primarily on account of higher expenses. JFS’ Q2FY26 bottomline stood at ₹695 crore, largely led by dividend from subsidiaries. 

JFS’s total income grew to ₹901 crore in Q3FY26, from ₹449 crore a year ago. Total expenses rose sharply to ₹547 crore in Q3 from ₹119 crore in the last fiscal. Expense rose mainly because in Q3FY25 there was no consolidation of Jio Payments Bank (JPB) with JFS. Further, there were higher finance costs as Jio Credit relied more on market borrowings as opposed to using equity for earlier funding and higher processing charges on account of growing transaction processing volume in Jio Payment Solutions. 

The share of net income from business to consolidated total net income grew to 55 per cent in Q3FY26, from 20 per cent in Q3 FY25.

JFS’s business portfolio includes its NBFC Jio Credit, Jio Payments Bank, Jio Payment Solutions, Jio Insurance Broking and Asset Management; and those at an incubation stage include Wealth Management, Securities Broking, Reinsurance and proposed Primary (Life and General) Insurance.

Jio Credit’s total disbursements stood at ₹8,615 crore in Q3, up 2x YoY and 30 per cent sequentially. Jio Payments Bank’s total deposits, including current accounts, savings accounts, and wallets, stood at ₹507 crores as of December-end, up 94 per cent YoY. Jio Payments Solutions’ total Transaction Processing Volume (TPV) stood at ₹16,315 crore, up 2.6x YoY and 20 per cent QoQ, while Jio Insurance Broking facilitated premium of ₹212 crore in Q3FY26, up 23 per cent YoY. 

Says Hitesh Sethia, Managing Director and CEO, JFS, “We are witnessing a secular trend in business momentum across all our operating verticals, which has now gained significant velocity. At the same time, we continue to invest for growth across new businesses, positioning them for long-term success. As we continue to build depth, capability and market presence, we are well-positioned to shape the next phase of financial services in India, driven by intelligence, hyper-personalisation and enhanced accessibility, leveraging technology and data analytics”.

Published on January 15, 2026



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SEBI weighs oversight of unlisted share market as focus shifts to disclosure gaps

SEBI weighs oversight of unlisted share market as focus shifts to disclosure gaps


File picture: Tuhin Kanta Pandey, Chairman, SEBI
| Photo Credit:
SHASHANK PARADE

The Securities and Exchange Board of India (SEBI), is examining whether it should step in to regulate the fast-growing unlisted share market, which currently operates largely outside its direct oversight, Chairman Tuhin Kanta Pandey said on Thursday.

Speaking on the sidelines of the Association of Investment Bankers of India’s (AIBI) annual convention, Pandey said SEBI is discussing the issue with the Ministry of Corporate Affairs to assess whether the regulator has the legal authority to oversee companies that are not listed on stock exchanges, and if so, how far such regulation can extend. “SEBI first needs to examine whether it has the legal authority to regulate companies that are not listed on stock exchanges and how far such regulation can extend,” he said.

The unlisted share market comprises equity in companies that are not traded on recognised stock exchanges, with investors typically accessing these shares through private deals, employee stock option plans or intermediaries. Since these companies are outside the listed ecosystem, they are not subject to continuous disclosure norms, often leaving investors with limited, delayed or uneven information on financial performance and business risks.

Valuation concerns

A key concern for the regulator is the wide divergence often seen between prices discovered in the unlisted market and valuations that emerge when companies eventually tap public markets. “Prices agreed upon in private deals often do not match the prices discovered during the IPO book-building process, creating confusion and potential risks for investors,” he said.

Traditionally, SEBI’s regulatory role begins once a company prepares to list its shares. Any move to regulate unlisted markets would therefore mark a significant shift, especially as participation in pre-IPO and unlisted shares has risen sharply in recent years, driven by investor appetite for early-stage exposure.

Separately, on the National Stock Exchange’s long-pending initial public offering, Pandey said SEBI is currently examining the exchange’s settlement application. “In principle, we agree with the settlement,” he said, adding that the proposal is being reviewed by various internal committees.

IPO boom

Earlier in the day, in his address to the AIBI convention, Pandey said SEBI’s broader forward-looking agenda for capital markets, stressing that India’s next phase of growth will require patient capital for the deep-tech, biotechnology and clean energy sectors. He said the regulator’s priority will be to improve information accessibility and investor comprehension, while intervening firmly in cases of misrepresentation or regulatory breaches.

He said markets play an increasingly central role in funding economic expansion, with equity and debt mobilisation at elevated levels and a robust IPO pipeline still in place. SEBI, he said, has focused on faster processes and lower friction, citing measures such as shorter IPO listing timelines, quicker rights issues, eased listing norms for large issuers and a strengthened anchor investor framework.

At the same time, he flagged persistent disclosure gaps in offer documents, particularly around risk factors, valuation rationale and use of proceeds, placing the responsibility on merchant bankers to ensure rigorous, independent due diligence. Weak disclosures, he warned, not only undermine investor trust but also delay fund-raising through repeated regulatory queries.

On the debt side, Pandey said SEBI will continue efforts to deepen the corporate bond market, expand retail participation and improve liquidity, including through a pan-India awareness programme.

Published on January 15, 2026



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