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Eris had acquired the rights from Novartis AG, Switzerland, through an assignment deed dated November 27, 2019.

According to its audited accounts, MCIL posted revenue of ₹182.15 crore in FY25. This is up from ₹174.03 crore in FY24 and ₹159.42 crore in FY23.

The notice, issued on August 21, 2025, directs the steelmaker to clear the dues within 15 days.

Novigo’s revenue grew at a compound annual growth rate of 44% for over 3 years with 25% EBITDA margin and healthy cash flow, stated the company in its filing.

The move is subject to shareholder approval and regulatory clearances, including permission from the regional director under the Ministry of Corporate Affairs.

According to the company, the vessels are being built for GRSE and will be deployed by the Geological Survey of India (GSI) as research ships for coastal exploration.

Top gainers in Sensex include M&M, Bharat Elec, Maruti Suzuki, Sun Pharma.

The proposal is subject to shareholder approval and necessary regulatory clearances.

JNK India clarified that the transaction qualifies as a related-party deal but has been finalised on an arm’s-length basis.

Earlier this month, the company announced its results for the quarter ended June 2025. It posted a consolidated net profit of ₹217.30 Crore.