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Customs & Trade
Dated:- 23-9-2026
PTI
Comprehensive trade agreement negotiations between Canada and India are progressing, with both governments aiming to conclude discussions by the mid-December G20 summit. Formal negotiations commenced in March, accompanied by a broader commitment to complete the agreement by the end of 2026. The proposed arrangement forms part of renewed bilateral economic engagement and Canada's strategy to diversify trade relationships, strengthen market access and reduce dependence on a single market.
Customs & Trade
Dated:- 23-9-2026
PTI
Possible restrictions on diesel exports are being considered to address rising domestic diesel prices amid disruption to global refining capacity. Oil industry representatives oppose an export ban, contending that it could aggravate refinery-sector constraints and worsen supply conditions. They advocate increased supply and operational flexibility instead of new export restrictions, while farm-state senators support a diesel export ban.
Customs & Trade
Dated:- 22-9-2026
PTI
The Uttar Pradesh Enabling District-Led Economic Growth project is proposed to convert district-specific resources into investment, employment, entrepreneurship and export opportunities. Its framework combines economic activity with stronger local administration and major investment proposals suited to local needs. Economic diversification is to expand manufacturing and services alongside agriculture, while local products are to receive improved design, packaging and access to global markets. Proposed measures also include enterprise development, women entrepreneurship, skills training, healthcare, agricultural processing and polyhouse development.
FEMA / RBI
Dated:- 22-9-2026
PTI
The partnership integrates SKIMS outpatient ticketing and appointment booking with J&K Bank's Banking Correspondent network on a six-month pilot basis, enabling local access for patients in rural and remote areas. J&K Bank serves as SKIMS's banking partner, offers customised employee banking benefits, supports hospital infrastructure through corporate social responsibility assistance, enables public contributions to the poor-patient endowment fund through a mobile application, and provides digital financial literacy and wealth-management programmes.
PMLA / Black Money
Dated:- 22-9-2026
PTI
Survey and search operations under the Prevention of Money Laundering Act covered 26 premises, including the Greater Mohali Area Development Authority office and the Principal Secretary for Housing and Urban Development. AAP alleged that the action was intended to create fear and pressure among government officers and impede welfare and development initiatives. It described GMADA as a revenue-generating authority whose resources support public welfare, urban infrastructure and planned development.
PMLA / Black Money
Dated:- 22-9-2026
PTI
Money-laundering proceedings concerning alleged irregularities in public-service recruitment examinations include a prosecution complaint against the former CGPSC chairman and others. Allegations concern payments to facilitate selections, access to examination papers for candidates, and collection of consideration. A former examination official is alleged to have aided a recruitment-rule amendment removing "nephew" from the definition of family, allegedly facilitating selection of relatives. The investigation is linked to an economic-offences FIR, a CBI complaint and related chargesheets.
Documentary proof of gold purchase must be examined before confiscation or penalties for alleged smuggling can stand.
Documentary evidence supporting the stated lawful purchase of seized gold must be verified and analysed before determining whether it is of foreign origin or smuggled. Acknowledgement of invoices without specific findings on their evidentiary value does not address the defence concerning the gold's source. Failure to examine material purchase evidence renders absolute confiscation and the related penalty determination unsustainable; no conclusion on the merits of the alleged smuggling follows without that assessment.
Additional evidence before the first appellate authority must be considered where necessary for a merits-based decision and fair adjudication.
Rule 46A(4) permits the first appellate authority to admit additional evidence where it is necessary for a merits-based disposal, even if no formal Rule 46A application has been made. Section 250(4) further requires that authority to conduct, or direct the Assessing Officer to conduct, further inquiry where circumstances warrant it. Refusing relevant material solely for want of a formal application and sustaining an unexplained-investment addition without deciding the merits is inconsistent with fair adjudication and natural justice. The matter requires fresh adjudication after adequate opportunity to furnish relevant evidence.
Regular bail assessment in CGST offences considers offence severity, investigative necessity, witness protection, antecedents, and protective conditions.
Regular bail in alleged CGST offences was considered where the offences were triable by a Magistrate and carried neither death nor life imprisonment. Absence of need for further custodial investigation, together with the complainant's public-servant status, reduced concerns of witness intimidation and evidence tampering. The gravity of the allegations and the petitioner's antecedents remained relevant to conditions designed to prevent interference with proceedings and recurrence of similar conduct.
FEMA / RBI
Dated:- 22-9-2026
PTI
Proposed nationwide three-day bank strike from 28-30 September 2026 follows an inconclusive conciliation meeting. The strike is linked principally to the demand for five-day banking, with reconsideration contingent on concrete and positive progress toward its implementation. Other demands cover pension upgradation, a uniform dearness allowance formula for pensioners, and an option for National Pension System-covered employees to switch to the old pension scheme.
PMLA / Black Money
Dated:- 22-9-2026
PTI
Maintainability of PMLA proceedings is contested where the alleged scheduled offence originates in a private complaint rather than an FIR. Respondents contend that a private complaint cannot form the basis for an Enforcement Case Information Report, money-laundering investigation, or prosecution, because the statutory framework recognises predicate-offence action through an FIR or a complaint by a person authorised to investigate.
Corp. Laws / SEBI / IBC
Dated:- 22-9-2026
PTI
Securities-market settlement proceedings concerning five Adani group companies addressed alleged non-compliance with listing-related disclosure and audit-report requirements. Allegations included failure to disclose certain related-party transactions and audit or limited-review reports signed by firms lacking a valid peer review certificate. While adjudication remained pending, the companies proposed settlement without admitting or denying the findings of fact or conclusions of law.
PMLA / Black Money
Dated:- 22-9-2026
PTI
Use of court-related affidavits in pending money-laundering proceedings must remain within the judicial process. The Bombay High Court cautioned Vijay Mallya against publishing on social media an Enforcement Directorate affidavit served on his legal team before its submission to the court, stating that parties should place their submissions before the court and that such publication undermines the efficacy of judicial proceedings.
The Central Government de-notifies 10.23 hectares from the IT/ITES Special Economic Zone at Kattigenahalli and Venkatala villages after statutory and related requirements were fulfilled. The removed land comprises specified survey numbers in Kattigenahalli village. The SEZ's notified area is consequently reduced from 12.14 hectares to 1.91 hectares, limiting its notified territorial extent accordingly.
Interim moratorium under the Insolvency and Bankruptcy Code no longer applies to personal guarantors of corporate debtors from 26 May 2026, including where insolvency applications were already pending before the Adjudicating Authority. The amendments inserting sub-sections (4) to sections 96 and 124 apply to pending applications: the phrase "is filed" includes applications filed before the effective date that remained under adjudication. Consequently, the moratorium previously protecting such guarantors ceased, and proceedings otherwise barred by section 96 may continue.
Recovery proceedings for fraudulently obtained duty-credit instruments under Section 28AAA must follow the nature of the alleged fraud. Where allegations concern misdeclaration in a shipping bill, Customs must investigate, adjudicate and, where warranted, amend the shipping bill before referring the matter for cancellation of the instrument. Policy interpretation, eligibility and entitlement issues must first be determined by the issuing trade authority, whose view governs Customs proceedings. Where cancellation is legally or technically unavailable, including because of a court order, adjudication must proceed on merits. In other cases where cancellation action has begun, adjudication must await cancellation of the instrument.
Corp. Laws / SEBI / IBC
Dated:- 22-9-2026
PTI
SEBI settled adjudication proceedings against five listed companies concerning alleged related-party transaction disclosure failures, corporate-governance compliance, and audit or limited-review reports signed without valid peer review certification. The companies sought settlement without admitting or denying the findings of fact or conclusions of law after a show-cause notice proposed inquiry and penalties. The settlement terms were recommended by the High Powered Advisory Committee, accepted by the Panel of Whole Time Members, and implemented upon receipt of the prescribed settlement amounts.
2026 (7) TMI 1153 - ITAT DELHI AT
Article 8 of the India-UK DTAA confines protection to profits derived from treaty-defined international aircraft operations and qualifying participation in air-transport pools. Engineering and ground-handling services supplied to other airlines are independently organised commercial services where they lack a direct nexus to the enterprise's own international transportation. A qualifying pool requires substantive evidence of its legal and commercial structure, including reciprocal arrangements and settlement mechanisms; industry arrangements or aviation-sector relevance alone are insufficient.
Regulation 14 of the International Financial Services Centres Authority (Payment and Settlement Syst...
The Reserve Bank of India's Payment and Settlement Systems Regulations, 2008 cease to apply in an International Financial Service Centre from commencement. Earlier actions, including guidelines, circulars and directions, are preserved and deemed taken under corresponding provisions. Applicable existing instructions are deemed issued under the current framework until superseded or modified by the Authority.
Regulation 13 of the International Financial Services Centres Authority (Payment and Settlement Syst...
Regulation 13 confers implementation and clarification powers to prescribe norms, procedures, processes and additional requirements through circulars, guidelines or directions. Directions may also be issued through guidance notes or circulars to remove difficulties in interpreting or applying regulatory provisions. These mechanisms permit administrative specification of operational requirements and interpretive guidance.