Karur Vysya Bank Launches Capital Gains Account Scheme

14 Jan 2026 CW Team

Karur Vysya Bank has recently announced the launch of its Capital Gains Account Scheme (CGAS) after receiving official authorisation from the Ministry of Finance, Government of India. The service is available with immediate effect across the bank’s branch network, excluding rural markets. The Capital Gains Account is designed for individuals and Hindu Undivided Families who have sold assets such as property, land or securities and require a secure mechanism to park proceeds while remaining eligible for capital gains tax exemptions under the Income Tax Act, 1961. The scheme allows customers to earn interest on parked funds while providing flexibility to complete reinvestment within the prescribed timeframe. Under Indian tax regulations, capital gains are exempt if reinvested within a specified period, though identifying suitable assets often extends beyond tax filing deadlines. The CGAS serves as a compliant interim solution, enabling customers to avoid rushed investment decisions while maintaining regulatory compliance. The scheme is available at KVB’s non-rural branches and supports fund transfers through UPI, NEFT and RTGS. Customers can opt for Type A accounts, structured as savings accounts for phased withdrawals, or Type B accounts, structured as term deposits with cumulative or non-cumulative interest options, in line with applicable regulatory requirements.

Infrastructure Energy

14 Jan 2026

ONGC Caps Mori-5 Well in Five Days After Blowout

Oil and Natural Gas Corporation Limited (ONGC) has successfully established well control at the Mori-5 well, completing the capping operation within a record five days. The achievement underscores ONGC’s strong blowout response capability and operational discipline in managing critical field incidents.The blowout occurred on 5 January 2026 during service operations at the well being carried out by PEC contractor M/s Deep Industries Limited. ONGC immediately activated its in-house Crisis Management framework and mobilised specialised manpower and equipment to ensure rapid, safe and controlled..

NIIT MTS Acquires SweetRush for Up to $26 Million

NIIT Learning Systems Limited, through its NIIT Managed Training Services (NIIT MTS) arm, has recently acquired 100 per cent of US-based SweetRush, Inc for an aggregate consideration of up to USD 26 million. The transaction was completed via NIIT MTS’ wholly owned subsidiary, NIIT (USA), Inc., and includes performance-linked earnouts over the next five years, subject to customary adjustments.Headquartered in San Francisco, SweetRush was founded in 2001 by Arturo Schwartzberg and Andrei Hedstrom. The company employs over 100 professionals, supported by an extended network of learning experts ..

Lemon Tree–Fleur Restructuring to Create Two Focused Platforms

Lemon Tree Hotels Limited and Fleur Hotels Limited have recently announced that their Boards have approved a Composite Scheme of Arrangement to simplify group structure, sharpen strategic focus and unlock long-term shareholder value, subject to regulatory and shareholder approvals.The reorganisation will result in two distinct yet complementary platforms. Lemon Tree Hotels will operate as a pure-play, asset-light hotel management and brand platform, while Fleur Hotels, a subsidiary of Lemon Tree, will emerge as a large-scale hotel ownership and development platform with a strong growth pipelin..