Kiran Mazumdar-Shaw said the combined entity would position Biocon among the few global players with scale in both generics and biologics

NEW DELHI: Biocon will fully integrate its biosimilars arm, Biocon Biologics, into the parent in a deal valuing the unit at $5.5 billion. The move is aimed at creating a unified biopharma powerhouse, and strengthening its global position to lead in diabetes, oncology, and immunology

— therapeutic areas that together account for nearly 40% of global pharma revenues, Kiran Mazumdar-Shaw, executive chairperson of Biocon, said on Saturday. Biocon will acquire the remaining stake in Biocon Biologics from Serum Institute Life Sciences (Serum), Tata Capital and Activ Pine through a share swap of 70.28 Biocon shares for every 100 Biocon Biologics shares, at a price of Rs 405.78 per Biocon share.

Further, Biocon will acquire the residual stake held by Mylan (Viatris) for $815 million, split between $400 million in cash and $415 million through a share swap of 61.7 Biocon shares for every 100 Biocon Biologics shares at a price of Rs 405.78 per Biocon share. “The combined entity will offer a unique portfolio spanning biosimilars,

insulins, GLP-1 peptides and complex generics, positioning Biocon among the few global players with scale in both generics and biologics. Further, we will combine the synergies in oncology and immunology with the products in biosimilars and generics,” said Mazumdar-Shaw. As the only company operating globally with both biosimilar insulins and generic versions of complex peptides, including GLP-1s, Biocon is poised to address the rapidly expanding ‘diabesity’ market.

according to a company statement. The company’s board also approved raising additional capital of up to Rs 4,500 crore ($500 million) through Qualified Institutional Placement (QIP), subject to shareholder approval. The cash component payable to Viatris will primarily use the proceeds of the QIP.

After the transaction and planned fundraiser, the promoters’ stake in Biocon is expected to drop to around 44.4%. Biocon Biologics chief executive Shreehas Tambe will become CEO and managing director of the combined entity post-integration, and Kedar Upadhye will be the chief financial officer.

Biocon CEO Siddharth Mittal will transition to a group leadership role, the statement added. The swap ratios have been approved by the board based on independent valuations by EY. Explaining the move,

Mazumdar-Shaw said, “We had created Biocon Biologics as a separate entity to attract investments and for a strategic global focus on biosimilars. Over the years, we did that successfully, even acquiring Viatris’ biosimilars business for $3 billion.

But markets kept devaluing both Biocon and Biocon Biologics because of debt overhang and holding company discount. Now the board feels it’s a better decision to stay together and consolidate, as it provides us a much stronger balance sheet.”

Salman Khan surprised fans with a refreshing transformation on Saturday as he stepped out in a clean-shaven look, just a day after completing the shoot of his upcoming war drama ‘Battle of Galwan’.

The actor, who had been seen with a thick moustache for months, finally switched back to his classic smooth style, instantly grabbing attention at the Mumbai airport.

Salman unveils his post-shoot makeover

The actor was spotted at the Kalina airport surrounded by heavy security, where he greeted the paparazzi with a wave before heading inside for the security check. His new look stood out because he had maintained the moustache not only for ‘Galwan’ but also throughout the ongoing season of ‘Bigg Boss’ and during his Dabangg Tour performances.

After months of shooting and back-to-back commitments, Salman appears to be entering a calmer phase. With ‘Bigg Boss’ gearing up for its grand finale on Sunday and his milestone 60th birthday approaching on December 27, fans are thrilled to see him looking refreshed.

A glimpse into Salman’s intense ‘Galwan’ avatar

Before wrapping the film, Salman had shared a behind-the-scenes photo on Instagram that immediately went viral. In the picture, he is seen peeking from behind a clapperboard marked “Scene 86 Close Up Shot 1 Take 1”, dressed in army combat fatigues complete with insignia and older camouflage patterns. A prominent wound mark on his face teased the film’s gritty, battle-heavy storyline. He captioned it “#BattleOfGalwan”.

About ‘Battle of Galwan’

‘Battle of Galwan’ is inspired by the book ‘India’s Most Fearless 3’ and brings to the screen the tense 2020 clash between Indian soldiers and Chinese troops in the Galwan Valley. The incident, which turned brutally physical, saw forces engage in hand-to-hand combat using sticks and stones.

The film recreates this high-stakes confrontation with Salman Khan leading the narrative in a rugged, intense avatar. Fans see this as a powerful comeback for the superstar, who is expected to headline one of his most hard-hitting roles in recent years.

Alongside Salman and Chitrangda Singh, the film features Zeyn Shaw, Heera Sohail, Abhilash Chaudhary, Vipin Bhardwaj, and Ankur Bhatia. Directed by Apoorva Lakhia with music by Himesh Reshammiya, the film is reportedly eyeing a mid-2026 theatrical release, although the official date is yet to be announced.

NEW DELHI: More than 20 years after her marriage, Rousanara Begum finally heard the words she had waited for when the Supreme Court recently ruled that a divorced Muslim woman can reclaim the wedding gifts her parents gave her at the time of marriage.

Now nearly 45, she told TOI on Saturday: “It started two decades ago. I had to fight a lot for the victory.” For her, the SC’s decision is not just a legal victory. It is the closing of a wound she has carried since 2005. Rousanara was barely married when her marital life collapsed.

According to her case records, she was married in 2005, but the relationship fell apart almost immediately. By late 2005, the first cracks had appeared. In 2008, she faced allegations of dowry harassment, mental cruelty, and being forced out of her marital home.

She returned to her parents. The talaq eventually came in 2011. She never received back the gifts her father had given her, which included 7 lakh rupees in cash and some gold from her wedding. “(Rs) Seven lakh is a lot of money for folks like us,” she said in broken Urdu. Her parents stood rock-solid behind her, unlike many families who fear the social judgement that comes with a daughter’s divorce.

However, Rousanara’s fight faced a setback at Calcutta HC, which in Jan 2024 reversed the earlier orders and denied her the right to reclaim the cash and gold her parents had given her when she married. HC ruled in favour of his divorced husband, SK Salahuddin. This prompted Rousanara to move the SC.

Through the years of litigation, Rousanara rebuilt her life even as she walked in and out of courtrooms. Today she works as a primary school teacher in a govt school, is remarried, and has two sons. For her lawyer,

Syed Mehdi Imam, it is one of the most meaningful victories he has seen. “This was a grey area. Until today, no clear judgement existed on whether the money and gold given to a bride at marriage, but kept with the groom, must be returned after divorce,” he told TOI. “I urged the court: decide this issue once and for all.” The Imam said there was hesitation in some quarters because the matter could have been misread as a religious flashpoint.

“There could potentially have been pushback from some corners,” he said. “Some feared it could flare into a religious controversy since this issue had never been adjudicated before. The sensitive nature of the issue could have led to its exaggeration. Then, finally, on Dec 2, SC placed equality and dignity at the heart of its interpretation of the Muslim Women (Protection of Rights on Divorce) Act.

observing that law must be read in light of the lived experiences of women, especially in rural and small-town India, where patriarchal discrimination remains embedded. Muslim bodies have welcomed the ruling. Maulana Raziul Islam Nadwi,

national secretary of JIH and its Shari’ah Council, said, “Husband’s gifts to the wife, even if the marriage does not last, cannot be taken back under Islamic law. Women’s gifts have a different status. Shari’at gives the wife this right, unless she or her family willingly relinquishes it. There is no contradiction in the SC order.

” When the verdict came, Imam typed three words to her during the court lunch break: “Won the matter.” That night, his phone rang. She was in tears. “I am pleased,” she said. “This win is for all Muslim women like me.” For many divorced Muslim women across India, this case from rural Bengal is a precedent: one that finally clarifies that what is given to a bride at marriage is hers alone.

Deliveries of Russian oil to India are projected to decrease to around 600,000 barrels per day next month. (AI image)

 

Donald Trump’s sanctions on Russian crude majors may have the effect of India’s oil imports from Russia dropping to a four-year low in January 2026. The Trump administration has been piling pressure on India to stop procuring crude oil from the country.

Of the 50% tariffs that the US has imposed on India, 25% are for its crude oil imports from Russia, which the Trump government claims indirectly helps fund the war against Ukraine. While the 50% tariffs don’t seem to have impacted India’s imports of Russian crude,

The sanctions on Rosneft and Lukoil announced in October have forced Indian refiners to look for alternative sources, though the option to purchase non-sanctioned Russian oil remains open.

India’s crude oil imports from Russia are set to drop.

While the crude oil imports are set to drop, the important question is, for how long will this be the case? According to a Bloomberg report, Russia is cranking up its own charm offensive, and alternative channels of procurement may emerge.

India’s Russian crude imports are set to fall in January.

Deliveries of Russian oil to India are projected to decrease to around 600,000 barrels per day next month, individuals involved in the transactions told Bloomberg. They may reach the lowest point since early 2022, when the Russia-Ukraine war began. Nevertheless, these oil import projections remain higher than pre-conflict levels.

What’s next? Will India completely stop Russian crude imports?

In the past, India has benefitted substantially from global restrictions on Russian crude sales, emerging as the main purchaser of Russian seaborne crude amidst price reductions due to sanctions.

Indian imports peaked at approximately 2.1 million barrels daily in June, making up about 45% of total crude imports. Refiners and traders suggest volumes could go up as non-sanctioned suppliers enter the market and new trading intermediaries emerge.

Additionally, Russian President Vladimir Putin visited Delhi this week to discuss trade relations, offering assurances of “uninterrupted shipments of fuel”.

Russia Quickly Became India’s Biggest Crude Supplier

India’s negotiations for a US trade agreement have progressed slowly, reducing the pressure to align with Washington’s positions, the Bloomberg report said. US President Donald Trump recently indicated a potential reduction in punitive tariffs on India. Elisabeth Braw, a senior fellow at the Atlantic Council, told Bloomberg, “While US sanctions create obstacles,

They cannot completely halt the trade. She noted that purchasing decisions are based on product suitability and pricing, rather than ideological alignment with Russia, and hence would likely continue. Restrictions on India’s imports of Russian oil have intensified since July, starting with the European Union sanctions imposed on Nayara Energy Ltd.

which has Rosneft backing. This marked the EU’s first such measure. The Trump administration subsequently shifted from its previous acceptance of purchases under a Group of Seven price cap, openly criticising the trade and implementing a 50% tariff to enhance its exports and apply pressure on Putin.

The implementation of the levy and subsequent sanctions on Rosneft and Lukoil have not completely halted oil flows, despite significantly impacting trade. Concerns about potential future disruptions led to increased November imports of 1.8 million barrels daily, as transactions were expedited. Also read: Message for Trump?

Putin says Russia ready to continue ‘uninterrupted shipments of fuel’ to India; pitches reliable supply of oil According to Sumit Ritolia, lead analyst for refining and modeling at Kpler, December volumes are expected to range between 1 and 1.2 million barrels per day, reflecting the surge in bookings by refiners prior to the sanctions’

implementation. Although the government has not provided official directives regarding Russian crude, state refiners have adopted a cautious approach towards sanctions. Mangalore Refinery and Petrochemicals Ltd, and HPCL-Mittal Energy have stopped purchases entirely, whilst Indian Oil Corp and Bharat Petroleum Corp are accepting only restricted, non-sanctioned quantities.

the report said. The extended timeline for Trump to finalise the agreement creates additional opportunities to evaluate the economic and political implications of reducing discounted oil purchases. “If the deal drags on, then more and more people will find ways or more pathways will be made, to enable such non-sanctioned barrels to still be bought legitimately by the Indian purchasers,” said June Goh.

senior oil market analyst at Sparta Commodities. Indian refiners have shifted to costlier Middle Eastern crude oil varieties to compensate for Russian supplies. They’ve increased their US oil purchases whilst checking sources in Guyana and Brazil to offset the shortfall. The sudden change led to higher shipping costs and vessel scarcity. Meanwhile, Russia faces financial pressure, with their crude selling at merely $40-$45 per barrel after discounts.

industry sources report. A decline is expected in January, raising concerns about whether China, the other significant purchaser, can absorb the excess supply. Future trends will be influenced by various factors, including Trump’s flexibility on tariffs, alongside the swift development of alternative arrangements as supply networks are restructured and price reductions become more

substantial. Over the past few weeks, several new entities have emerged in port documentation as suppliers of Russian crude to Vadinar, including Eastimplex Stream FZE, Grewale Hub FZE and Tyndale Solutions FZE. “Indian refiners may also gradually find ways to shift towards non-sanctioned Russian entities,

‘National crush’ Girija Oak has once again captured the internet’s attention with her stunning saree collection while currently winning praise for her performance in the web show Perfect Family. A photograph of the actress wearing a blue saree paired with a sleek white blouse recently went viral, and fans are applauding her gracefulness.

traditional style. In a conversation with Hauterrfly, Girija opened up about her love for sarees and revealed that she owns more than 400 pieces.

‘It is a hand-painted chiffon saree.’

Girija showcased some of her most cherished sarees, including heirlooms passed down from her mother and grandmothers. She shared that she has sourced sarees from across India, often purchasing directly from weavers or through people who buy exclusively from artisans.

She began the tour with her grandmother’s vintage saree from the 1960s–70s, saying, “It is a hand-painted chiffon saree.” The creamy-coloured piece exuded old-world elegance.

‘This saree is worth a few kidneys.’

Girija then revealed the most expensive saree in her wardrobe — a Banarasi Jamawar from Raw Mango. Calling it her prized possession, she said, “This is my favourite saree. This saree is truly exquisite. This saree is worth a few kidneys.

The price of this saree is between one lakh and more. I only have one Raw Mango saree; I can’t afford more sarees from them. But it is a very pretty colour.” Discussing sarees as long-term investments, Girija added, “If you keep them maintained nicely, their life is forever. A saree can fit any size; it is very versatile.” Girija went on to present several other pieces from her collection—leheriya sarees, block-printed designs, kalamkari drapes, and a classic Maharashtrian Paithani.

Among the highlights was a pure georgette leheriya saree that arrived in a compact box. “This is a pure georgette leheriya saree that came in a tiny box. I bought it from Gujarat,” she explained. She also showed a saree that she had block-printed herself and admitted that it was a challenging process.

“It is uneven because I have blockprinted it myself, but it is special.” Another standout was a quirky Audrey Hepburn–print saree, which immediately drew attention for its unique visual charm.

Girija Oak’s journey in Marathi and Hindi cinema

Girija Oak, active since 2004, has built a solid career across Marathi and Hindi entertainment. She earned widespread acclaim for her performance in the short film Quarter (2020), directed by Navjyot Bandiwadekar.

She has also appeared in Bollywood films such as Aamir Khan’s Taare Zameen Par (2007) and Krishna D K’s Shor in the City (2010). Recently, she featured in Shah Rukh Khan’s blockbuster Jawan (2023) and the 2025 Netflix film Inspector Zende alongside Manoj Bajpayee.

The airline recorded the largest number of flight cancellations by an Indian carrier in the nation’s aviation history. (ANI photo)

IndiGo flight cancellations latest news: IndiGo has said that it expects to operate more than 1500 flights by day’s end on Saturday, having restored over 95% of network connectivity by serving 135 out of 138 operational destinations.

IndiGo typically operates 2300 flights daily. IndiGo has said that its personnel are working to normalise operations, minimise flight delays, and assist passengers during this challenging period. IndiGo operated merely 700 flights on Friday, indicating 1,600 flight cancellations.

IndiGo’s CEO Pieter Elbers acknowledged the extensive cancellations, confirming “over 1,000 flights” were cancelled on Friday.

IndiGo recorded the highest number of flight cancellations by an Indian carrier in the nation’s aviation history. Additionally, IndiGo’s on-time performance plummeted to 3.7 per cent on Friday due to operational disruptions caused by the implementation of new pilot duty and rest period regulations, according to the Civil Aviation Ministry website.

Starting November 1, the second phase of these regulations redefined night hours from 12am to 6am, altered from the previous 12am to 5am, and reduced permitted night landings from six to two. These changes affect all domestic airlines in India. The Gurugram-based carrier IndiGo, partly owned by Rahul Bhatia, has obtained temporary relief from DGCA.

allowing them to revert to the previous night duty definition of 12am to 5am and permitting pilots to perform six night landings. “ Addressing the recent disruptions in our network, we had cancelled a significant number of flights and operated a little above 700 flights yesterday, connecting 113 destinations.

The main objective was to reboot the network, systems, and rosters so that we could start afresh today with more flights and improved stability, and there are some early signs of improvement. Despite acknowledging the challenges ahead, we remain dedicated to restoring our customers’ trust. We apologise once again,” the airline said in a statement today.

How to Track IndiGo Flight Status?

If you are planning to fly on an IndiGo flight over the coming days, it is important to check the flight status before heading to the airport.

Here is a step-by-step guide to check IndiGo flight status: 1. Go to goindigo.in/check-flight-status.html 2. Enter your PNR details and travel date, click on ‘Search Flight’ to get the latest flight status

How to Track IndiGo Refund Status?

The airline issued a statement confirming that it is handling all passenger refund requests with urgency. Here is a step-by-step guide on how you can track your refund status on the IndiGo website: 1. Go to goindigo.in/refund.html

2. Enter PNR details—insert your PNR or booking reference number and your email ID or last name. 3. Click to view the “Refund Summary.”.

This will show you the current status of your refund — whether it’s still processing, completed, etc. According to the civil aviation ministry’s directive, all refunds for cancelled or disrupted flights must be processed by 8 pm on Sunday.

The ministry has said, “Airlines have also been instructed not to levy any rescheduling charges for passengers whose travel plans were affected by cancellations.” The ministry has directed IndiGo to establish dedicated units for passenger assistance and refund processing.

statement noted, “These cells have been tasked to contact affected passengers proactively and ensure that refunds and alternative travel arrangements are processed without the need for multiple follow-ups.

The system of automatic refunds will remain active until operations stabilise completely.” Additionally, the ministry has mandated that the airline must locate and return any misplaced luggage resulting from flight cancellations or delays to passengers within 48 hours.

Airfares capped

The aviation ministry has issued a two-page directive implementing fare restrictions due to capacity limitations and unjustified price increases across various routes. The civil aviation ministry’s order clarifies that business class and UDAN flights are exempt from these fare restrictions. The directive lacks specificity regarding the application of these limits to economy class tickets exclusively or their extension to premium economy seats as well.

The prescribed fare structure sets maximum limits of Rs 7,500 for flights covering distances up to 500 km, Rs 12,000 for 500–1,000 km, Rs 15,000 for 1,000–1,500 km, and Rs 18,000 for flights exceeding 1,500 km.

For illustration, on the Delhi-Mumbai route, spanning over 1,300 kilometres, economy- class fares cannot exceed Rs 18,000. The minister’s statement indicates these restrictions will remain effective until conditions normalise. These caps exclude additional costs such as the User Development Fee (UDF), Passenger Service Fee (PSF), and air ticket taxes.

‘Dhurandhar’, directed by Aditya Dhar and starring Ranveer Singh, has finally debuted on the big screen today. After months of waiting, fans wasted no time rushing to theatres to catch the first day’s show and tweeting all about it. Amid all the hype and drama surrounding the film, trade reports state that the film may just open to an average response at the box office. However, this was just by taking into consideration the film’s advance bookings, which are estimated to be between Rs 15-20 crore net. Now, as per the latest reports online, the film seems to be picking up its pace at the box office, with trade reports showing a spike in numbers. As per Sacnilk, the early shows have already collected around Rs 66 lakh, with numbers expected to rise further during the day. As per the latest reports, the film has sold over 2.55 lakh tickets across 14,549 shows in 2D format, playing at the national theatre chains. The IMAX 2D formats playing at top theatre chains in the country have reported a collection of Rs 45.22 lakh for around 123 shows. The current data estimates that the film’s total advance collections now stand at an estimated Rs 9.23 crore from the sale of 2.62 lakh tickets sold across 14K shows in the country. It must be noted that these numbers are without blocked seats.

Taking into account the blocked seats, the total advance booking collection has risen to an estimated Rs 14 crore. State-wise, Maharashtra continues to lead with the highest collection of Rs 3.02 crore in advance earnings with blocked seats.

Delhi follows closely with Rs 2.98 crore. Karnataka and Gujarat follow with collections of Rs 1.41 crore and Rs 1.01 crore, respectively. Uttar Pradesh rounds up the top five with an advance collection of Rs 79.39 lakh. Trade projections suggest that ‘Dhurandhar’ is likely to open in the Rs 15 crore to Rs 20 crore range on Friday.

With a reported budget of Rs 250 crore, ‘Dhurandhar’, a large-scale action entertainer, will face significant challenges before achieving box office success. To attain these numbers, the film would rely heavily on word-of-mouth to drive weekend growth and keep the footfall consistent all through the working week.

Without a holiday to support it, the film will rely heavily on positive buzz and quality content to sustain its success at the box office. The current trend puts the film on par with the Dhanush and Kriti Sanon romantic drama, ‘Tere Ishk Mein’, which opened to similar numbers at the box office last week. However,

The film will have only 2 weeks to enjoy its run at the box office before it faces added competition at the ticket windows with the release of the Hollywood film ‘Avatar: Fire and Ash’. The James Cameron film is already tracking a blockbuster opening in the country, considering that it is a part of a franchise release and already commands a huge fan base.