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August 11, 2026
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GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
August 11, 2026
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Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
August 11, 2026
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Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
August 11, 2026
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Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
August 11, 2026
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Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
August 11, 2026
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MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
August 11, 2026
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Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
August 11, 2026
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Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
August 11, 2026
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Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
August 11, 2026
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Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
August 11, 2026
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Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
August 11, 2026
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Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
August 11, 2026
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Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
August 11, 2026
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Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
August 11, 2026
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Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
August 10, 2026
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GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
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Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
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Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
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Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
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High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.

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Customs, DGFT & SEZ

Government Approves Eight (8) Proposals of Foreign Direct Investment Amounting to about Rs.1311.54 Crore

July 3, 2013

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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on June 14, 2013, the Government of India has approved eight (8) Proposals of Foreign Direct Investment amounting to Rs. 1311.54 crore approximately.

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 14.06.2013 are as follows:        

Following 8 (Eight) proposals have been approved:

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Euronet Services India Pvt. Ltd.

Company having FDI to set up White Label ATMs.

Nil

2

M/s Shaastra Securities Trading Pvt. Ltd., Gurgaon

To make downstream investment in the proposed Wholly Owned Subsidiary to undertake the activity of Commodity broking & trading in the commodity exchanges.

2.87

3

M/s Srei Infrastructure Finance Limited, Kolkata

To undertake an additional activity of setting up White Label ATMs (WLAs) in India.

No Fresh Inflow

4

M/s Mahle Holding India Pvt. Ltd.

Investing company having 100% FDI proposes to bring in more investment.

280.00

5

M/s Aveva Solutions Limited, UK

To set up a LLP to provide software development and IT enabled services.

8.39

6

M/s Flemingo Duty Free Shop Pvt. Ltd.

To operate Electronic Duty Free Shop at International Arrival and Departure Terminal at Cochin International Airport and also a Duty Free Shop at APM terminal at Pipavav Port.

Nil

7

Md. Rabiul Alam, Bangladesh

To set up a new company in India with 100 percent FDI to carry out the business of production of engineering products.

20.28

8

M/s Telenor Mobile Communication AS, Norway

To set up a JV company in telecom sector.

1000.00

        The following 10 (Ten) proposals have been deferred

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Indostar Capital Finance Pvt. Ltd., Mumbai

A Systemically Important Non-Deposit Taking Non-Banking Financial Company to set up a subsidiary company and sponsor a debt fund under SEBI (AIF) Regulations.

2

M/s Muthoot Finance Limited, Kerala

Company having FDI to set up White Label ATMs.

3

M/s Scripbox.com India Pvt. Ltd., Bangalore

Indian company acting as facilitator of investments into mutual funds (other financial Services not mentioned in the FDI policy) proposes to receive foreign investment.

4

M/s AU Housing Finance Limited, Jaipur

To increase direct and indirect foreign investment up to 95%, without meeting the minimum capitalization norm of USD 50 million. The company is engaged in the business of providing housing loans, primarily in the un-served, unreached and under-served market mainly in low income states of India.

5

M/s Soma Tollways Pvt. Ltd.

Post facto approval for increase in foreign equity in the investing company.

6

M/s Conrad Horler, Karnataka

A Foreign citizen (NR) proposes to set up a multimedia LLP.

7

Mr. Ramneek Singh, Amritsar

To set up an LLP with foreign equity to undertake agri-export business.

8

M/s Octania Aerostructure Group Pvt. Ltd., New Delhi

To issue equity shares in lieu of technology transfer/know how.

9

M/s Jaguar-Max Security Solutions Pvt. Ltd., New Delhi

Induction of foreign investment upto 49% in an Indian company engaged in Private Security Services.

10

M/s Jet Airways India Ltd.

An Indian Air Transport Service sector company to make a preferential allotment of 24% of equity shares to a foreign airline. The foreign airline proposes to subsequently transfer the same to its WoS.

         The following 6 (Six) proposals have been rejected: 

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Alliance Insurance Brokers Private Limited, Mumbai

Induction of foreign equity by way of issue and transfer of equity shares to carry out the business of insurance broking.

2

M/s Highdell Investment Ltd., Mauritius

Induction of foreign equity in an investment holding company.

3

M/s NREC Railway Equipments India Private Limited, Delhi

Post facto approval for issuance of equity shares against pre-operative expenses borne by the foreign collaborator. The company is engaged in the business of manufacturing locomotives and their parts.

4

M/s Snap Networks Pvt. Ltd., Karnataka

Post facto approval for issuance of partly paid up shares to an NRI. The company is engaged in the business of development of technology with respect to Wireless sound systems.

5

M/s Multi Commodity Exchange of India Pvt. Ltd.

Engaged in the business of trading in commodities.

6

M/s Marjan Motors Private Limited, Chennai

Post facto approval for allotment of shares against pre incorporation expenses remitted by foreign investor to the third party in India.

 The following 2 (Two) proposals have been advised to access automatic route

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Avis India Investments Pvt. Ltd.

A foreign owned (WoS) Indian company, engaged in renting or leasing (other than financial leasing) of motor vehicles proposes to increase its stake in a downstream, engaged in the same business, by acquisition of shares from the partner.

17.61

2

M/s Dewsoft Fabrication Private Limited, New Delhi

A defence sector company to transfer 26 % holdings to a foreign company against technology transfer fee payable to the foreign company.

Nil

The following 01 (One) proposal has been withdrawn from the Agenda:          

Sl. No

Name of the applicant

1

M/s ICICI Venture Funds Management Company Ltd., Mumbai

In respect of the following 1 (One) proposal, the applicant has been advised to apply for approval

Sl. No.

Name of the applicant

Particulars of the proposal

1

M/s Cable & Wireless Networks India Pvt. Ltd.

Intimation regarding overseas group restructuring in internet infrastructure Company without change in approved FDI/cap/investor.

In respect of the following 1 (One) proposal, the applicant has been advised that part (a) has been rejected and part (b) and (c) would not require post facto approval as the sector is on automatic route

5

M/s Abicor Binzel Production (India) Pvt. Ltd., Pune

(a) Conversion of overseas loan and interest thereon into share application money in FY 2003-04 and subsequently issuing of 30,000 equity shares of Rs. 1000/- each at par value in month of June 2008.

(b) Post facto approval for transfer from Resident to Non- residents of 36 equity shares of Rs. 1000 each at par during the year 1999 and 2000; and

(c) Post facto approval for issue of 4964 equity shares of ` 1000 each at par value on February 5, 2002 to non-residents.

Decision in case of the following 1 (One) proposal will be communicated separately: 

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Stemcor Holdings Limited

An International steel trading group having a majority owned mining and a WoS in manufacturing in India is restructuring its holdings and through a swap of shares proposing to hold its manufacturing activity as a downstream entity of its mining subsidiary.

Nil

  DSM/RS/ka

(Release ID :96989)

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