NSE Secures SEBI Approval to Invest in India’s First Physical Coal Exchange

The National Stock Exchange of India Limited (NSE) has received approval from the Securities and Exchange Board of India (SEBI) under Regulation 38(2) of the SECC Regulations, 2018, to invest in the proposed National Coal Exchange of India Limited. This approval marks a key regulatory milestone towards the establishment of a structured market platform for physical coal trading in India.

Company will soon apply to Coal Controller Organization to secure license for setting up Coal Exchange under relevant regulatory provisions.

The proposed exchange is intended to facilitate electronic spot trading of coal through standardized contracts, enabling transparent price discovery and defined settlement mechanisms for market participants including producers, consumers and traders. The initiative is aligned with the Government of India’s coal sector reforms, including commercial mining and liberalised coal sales, and is expected to support the development of a formal, transparent and efficient market structure for coal transactions, subject to incorporation of the entity and receipt of applicable approvals.

About National Stock Exchange of India Limited (NSE):

National Stock Exchange of India (NSE) was the first exchange in India to implement electronic or screen-based trading. It began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data. NSE has a fully integrated business model comprising exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. NSE also oversees compliance by trading, clearing members and listed companies with the rules and regulations of SEBI and the exchange. NSE is a pioneer in technology and ensures the reliability and performance of its systems through a culture of innovation and investment in technology. NSE is the world’s largest derivatives exchange by trading volume (contracts) for calendar year 2025 as per the statistics maintained by Futures Industry Association (FIA). NSE is ranked third in the world in equity segment by number of trades (electronic order book) in 2025, as per the statistics maintained by World Federation of Exchanges (WFE).

Starlink’s India Liftoff Stalled by FDI Rules and Security Concerns

Starlink’s India launch remains stalled as the government weighs foreign direct investment (FDI) approvals and national security clearances. While the company has reportedly cleared some security hurdles, final authorization from the Digital Communications Commission (DCC) and the Union Cabinet is still pending, leaving its commercial rollout uncertain.

Starlink, the satellite broadband arm of Elon Musk’s SpaceX, has been seeking entry into the Indian market to provide high-speed internet services, particularly in rural and underserved regions. The company already holds a global license but cannot operate in India without spectrum allocation and FDI approval.

According to The Hindu BusinessLine, Starlink has recently met the security requirements set by law enforcement agencies. The next step involves review by the Digital Communications Commission (DCC), which is expected to convene soon. If approved, the proposal will move to the Union Cabinet for final clearance before Starlink can begin operations.

Reports from The Economic Times highlight that India’s government is scrutinizing Starlink’s investment proposal under FDI rules, citing national security concerns amplified by global geopolitical tensions. Authorities are cautious about foreign satellite operators due to risks of data interception, misuse of equipment, and vulnerabilities in emergency communications. India’s FDI policy for the space sector has been liberalized since 2024, allowing up to 100% foreign investment in satellite operations through the government approval route. However, sensitive sectors like telecom and space remain subject to strict compliance with guidelines from ISRO and the Department of Space.

In September 2025, Starlink received its trial spectrum clearance from India’s Department of Telecommunications (DoT) to launch satellite internet services trials. 

However, the license alone wasn’t enough to begin operations. Starlink still needed:

• Spectrum allocation for satellite communications, which is a separate regulatory process.
• FDI and security clearances, since satellite internet falls under sensitive telecom and space sectors.
• Cabinet-level approval after review by the Digital Communications Commission (DCC).

So while the DoT trial license was granted, the government continued to scrutinize Starlink’s ownership structure and compliance with India’s FDI rules. Security agencies also raised concerns about potential misuse of equipment and risks to data sovereignty.

Starlink’s entry was expected to accelerate rural broadband expansion, bridging connectivity gaps in remote areas. The delay, however, benefits domestic competitors such as OneWeb (Bharti-backed) and Reliance Jio’s satellite ventures, which are positioning themselves to capture market share while Starlink awaits clearance. The case also sets a precedent for how India will regulate foreign satellite internet providers, balancing the promise of advanced technology with concerns over sovereignty and security.

In summary, while Starlink has made progress on the security front, its India launch hinges on FDI approval and Cabinet-level clearance. The government’s careful approach underscores the strategic importance of satellite communications in India’s national security framework.

Zoho Slaps ₹10 Crore Suit on Flexype Over Defamatory Posts

Zoho Corporation has filed a ₹10 crore defamation suit in the Madras High Court against Flexype Technologies and its co‑founder Azeem Hussain, alleging that social media posts about its accounting software Zoho Books were defamatory and harmed its reputation. The court has granted Zoho leave to proceed with the civil damages claim.

The matter has only been reported through legal filings and first covered by Bar & Bench and thereafter media outlets such as The Times of India and Business Today. 

Key Facts:

• Court: Madras High Court, Chennai
• Plaintiff: Zoho Corporation
• Defendant: Flexype Technologies Pvt Ltd and co‑founder Azeem Hussain
• Damages Sought: ₹10 crore
• Issue: Allegedly defamatory social media posts criticizing Zoho Books’ reliability
• Relief Sought: Damages plus injunctive relief

Court Proceedings:

• Justice Senthilkumar Ramamoorthy initially questioned jurisdiction but accepted Zoho’s affidavit.
• The court granted leave for Zoho to initiate the civil damages suit.

Context of Dispute:

• Posts by Flexype’s co‑founder alleged serious issues with Zoho Books.
• Zoho clarified a payment gateway error caused confusion, not flaws in its software.

Implications:

• For Zoho: Protecting brand reputation in India’s SaaS market.
• For Flexype: Potential liability and reputational risk.
• For Industry: Highlights legal sensitivity around social media commentary.

Comparative Snapshot:

Aspect	Zoho Corporation	Flexype Technologies
Allegation	Defamation via social media posts	Criticism of Zoho Books’ reliability
Legal Action	₹10 crore damages + injunction	Defense pending
Court Involvement	Madras High Court	Respondent in suit
Broader Impact	Protecting SaaS reputation	Risk of liability & credibility loss

Risks & Takeaways:

• Social media liability can trigger defamation suits.
• Case may set precedent for Indian tech defamation disputes.
• Companies must balance transparency with caution in public commentary.

MeitY’s IndiaAI Mission Picks 10 Cutting‑Edge Startups for International Scale‑Up in Paris

In a continued push to strengthen India’s position in artificial intelligence on the global stage, the IndiaAI Mission under the Ministry of Electronics and Information Technology (MeitY) has announced the selection of ten cutting‑edge AI startups for the second cohort of the IndiaAI Startups Global Acceleration Programme. The initiative is being run in partnership with Station F, Paris, the world’s largest startup campus, and HEC Paris, one of Europe’s premier business schools.

Launched under the Startup Financing Pillar of the IndiaAI Mission, the programme equips selected startups with resources, mentorship, and strategic connections to scale internationally. Cohort II aligns with India’s National AI Strategy, emphasizing cross‑border knowledge exchange, exposure to advanced entrepreneurial ecosystems, and integration into global markets.

1. AI Health Highway India Pvt. Ltd. – AI‑enabled smart stethoscope for cardio‑respiratory screening
2. Awiros – Vision AI platform for agentic, context‑aware intelligence
3. Cognecto – AI infrastructure intelligence platform
4. Flaunt – Multimodal AI agents for fashion trends and video marketing
5. GreenFi.ai (Climateforce Technologies Pvt. Ltd.) – AI‑enabled ESG risk management software
6. Infiheal Healthtech Pvt. Ltd. – Healo, a multilingual AI mental health companion
7. InLustro Learning Pvt. Ltd. – AI‑powered job simulation platform
8. PredCo – AI‑driven compliance for modern manufacturing
9. SkyServe (Hyspace Technologies Pvt. Ltd.) – AI infrastructure for Earth & Space monitoring
10. TestAIng Solutions Pvt. Ltd. – QA and compliance suite for trusted AI

The startups were chosen through a rigorous multi‑stage selection process and will represent India’s dynamic AI innovation ecosystem at Station F. The programme includes a three‑week online preparation module, followed by a three‑month immersive residency in Paris, designed by HEC Paris to provide unparalleled access to resources, mentorship, and networking opportunities with leading French and European ecosystem players.

By facilitating access to international markets, fostering innovation, and attracting global investments, the initiative supports India’s vision of becoming a leader in responsible, scalable, and inclusive AI solutions.

Shyam Metalics Expands CRM Facility, Targets Solar, Auto & Consumer Durables Segments

Shyam Metalics and Energy Limited, one of India’s leading integrated metal producers, today announced the successful commissioning of Phase II of its Cold Rolling Mill (CRM) facility for colour coated sheets at its Jamuria plant in West Bengal. The facility, operated by its wholly owned subsidiary, Shyam Sel and Power Limited (SSPL), has commenced commercial production effective 16th April 2026.

Phase II comprises an advanced processing Dual Pot GI cum Galvalume (GL) line with a capacity of 0.15 million tonnes per annum (MTPA), significantly enhancing the Company’s product range and technical capabilities. This expansion marks a critical step towards catering to more demanding and precision-driven applications across industries. With this incremental capacity, the total installed capacity of the CRM facility reached to 0.40 MTPA. This includes the existing Phase I capacity of 0.25 MTPA and the newly commissioned Phase II capacity, further strengthening the Company’s footprint in the value-added steel segment.

With this development, Shyam Metalics is now strategically positioned to cater the solar energy sector, particularly in the manufacturing of mounting structures for solar panels, an area that was previously heavily dependent on imports. By addressing this gap, the Company is actively contributing to India’s vision of self-reliance and domestic manufacturing excellence.

The Phase II expansion also aligns with the Government of India’s Production Linked Incentive (PLI) Scheme – PLI 2, reinforcing Shyam Metalics’ commitment to national initiatives aimed at boosting advanced manufacturing and reducing import dependency.

In addition to renewable energy applications, the enhanced facility will cater to a broader spectrum of high-growth sectors, including automotive and consumer durables/appliances, where demand for high-quality, precision-engineered steel continues to rise and has been primarily import-dependent.

This strategic expansion not only deepens Shyam Metalics’ presence in downstream value-added products but also strengthens its integrated manufacturing ecosystem. With improved product diversification and market reach, the Company is well-positioned to unlock new revenue streams while supporting India’s industrial and infrastructure growth trajectory.

The expanded facility, strategically located in the eastern region of India, offers significant logistical advantages, enabling Shyam Metalics to efficiently serve key demand centres while addressing the region’s supply gap in value-added flat steel products. This Phase II expansion further strengthens the Company’s downstream capabilities and reinforces its position as a leading player in the steel value chain.

Commenting on the expansion, Mr. Brij Bhushan Aggarwal, Chairman and Managing Director, of Shyam Metalics and Energy Ltd., stated, “The commissioning of Phase II of our Flat Products project is a strategic step towards strengthening our value-added product portfolio and improving overall realizations. With this expansion, we are further strengthening our ability to cater to high-growth, high-margin segments such as solar, automotive and consumer durables.

This phase is expected to drive a better product mix, support margin expansion, and contribute meaningfully to incremental EBITDA over the medium term. Our inclusion under the Government’s PLI Scheme further enhances the overall return profile of the project.

We remain focused on disciplined capital allocation, with a strong pipeline of value-accretive expansions under evaluation and expect optimal ramp-up within the next 10–12 months.”

About Shyam Metalics and Energy Limited

Shyam Metalics is a leading and fastest-growing integrated metal-producing company based in India primarily in the steel Industry in West Bengal, Odisha, Jharkhand and Madhya Pradesh with a focus on Long Steel Products, Ferro Alloys, Aluminium and Stainless Steel. The company got listed itself on the exchanges in 2021 and as on date of this press release possesses a market capitalization of more than ₹ 24,500 Cr. Spearheaded by Mr. B. Bhushan Agarwal, Chairman and Managing Director, the company strives to deliver unparalleled quality through their customised value-added solutions to meet business requirements. Headquartered in Kolkata, West Bengal, the company is amongst the largest producers of ferro alloys in terms of installed capacity in India (Source: CRISIL Report).

The company has the ability to sell intermediate and final products across the steel value chain. Shyam Metalics is one of the leading players in terms of pellet capacity and the largest coal fired player in the sponge iron industry in terms of sponge iron capacity in India. As on date, the aggregate installed metal capacity of its manufacturing plants is 16.78 MTPA (comprising intermediate and final products) and having 467 MW aggregated installed capacity captive power plants.