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    Dissenting creditors alleged family-linked entities cast 61.78 pc votes that cleared Chandra's insolvency plan
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August 30, 2026
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Related-party creditor voting in personal insolvency turned on whether the debtor held majority ownership or direct board control.
Dissenting lenders challenged the admission and voting rights of five creditors alleged to be family-linked associate or related entities, contending that their voting share enabled approval of a personal insolvency repayment plan. They alleged invalid post-moratorium guarantee invocations, undisclosed liabilities, inadequate claim scrutiny and incorrect voting-share computation. The third member rejected the voting-rights challenge, treating associate status as requiring the debtor's personal majority shareholding or direct board control, and accepted the repayment plan.
August 30, 2026
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Examination continuity and candidate fairness require re-examination where power failures prevent completion, alongside review of infrastructure accountability.
NEET-PG 2026 examination continuity was disrupted for candidates at two Jaipur centres because of internal power-supply failures attributable to the technological partner and examination-conducting agency. A re-examination has been scheduled for the affected candidates, with the venue and revised admit cards to be communicated separately. Action against the entities responsible for ensuring adequate examination infrastructure is under consideration.
August 30, 2026
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Women's monthly assistance eligibility restricts benefits to qualifying households and channels payments through deposits or restricted digital wallets.
Delhi Lakshmi Yojana provides monthly financial assistance to eligible women through recurring deposits and restricted Central Bank Digital Currency wallets. Recurring deposits are locked until July 31, 2029, subject to possible review of the maturity period after two years from launch. Eligibility requires a qualifying woman to be the eldest female family member, meet income, residence and voter-registration requirements, and satisfy household restrictions. Income-tax payers, GST filers, government employees, higher-electricity-consuming households and four-wheeler-owning households are excluded.
August 30, 2026
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Gasoline trade amid refinery disruptions relies on sanctioned fleets and dark ship-to-ship transfers, alongside continuing fuel export restrictions.
Russian refinery disruption has increased gasoline imports and made India a significant supplier of gasoline to Russia. Indian supplies were principally linked to the Vadinar refinery, and increased Indian purchases of Russian crude may mean exported gasoline was produced from Russian crude. Russia has retained a gasoline export ban while domestic production remains disrupted. India-origin cargoes imported during August were carried on sanctioned fleets and involved dark ship-to-ship transfers, including transfers conducted with automatic identification system signals switched off.
August 30, 2026
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Digital arrest fraud: judicial responses seek a distinct offence while preserving due process and proportionality in economic-crime enforcement.
Suo motu consideration of digital-arrest fraud reflects a proactive judicial response to video-call scams involving impersonation of police, judicial officials or bureaucrats. The Union and the States have been directed to assess the problem, with a call for a distinct offence carrying proportionate penalties. Economic-crime enforcement remains subject to safeguards requiring written grounds of arrest and preventing pre-trial detention from becoming punishment. Due process, proportionality and the presumption of innocence remain central constraints.
August 29, 2026
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Natural justice in licensing enforcement requires meaningful hearing and reasoned orders before cancellation or suspension of regulated operations.
Natural justice in regulatory licensing enforcement requires a meaningful hearing, proper legal analysis, and a reasoned decision before licence cancellation or suspension. Maharashtra FDA withdrew cancellation of drug-sale licences after criticism of the procedure adopted. Food-safety enforcement against restaurants was also reconsidered where the premises were substantially compliant, despite licences being issued to one entity and operations being conducted by another. A fresh notice, hearing on the contractual arrangement, and reasoned order were required before further licensing action.
August 29, 2026
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Food-safety licensing compliance supports reopening while contractual operation requires notice, hearing, and a reasoned regulatory decision.
Food-safety licence suspension of five eateries was reconsidered after a fresh inspection recorded 88 per cent compliance. The suspension had continued because a third-party operator ran the eateries while licences remained in the association's name, despite no identified legal prohibition. The Food and Drug Administration proposed a fresh notice, hearing, and reasoned order on the contractual arrangement, while current compliance permitted services to resume.
August 29, 2026
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Market access and regulatory cooperation advance agricultural, pharmaceutical, digital, and trade integration priorities across the bilateral economic partnership.
India-Argentina cooperation focused on expanding bilateral trade, reducing non-tariff barriers, facilitating investment, and strengthening market access. Sanitary and phytosanitary discussions progressed for Indian agricultural products, while pharmaceutical engagement covered regulatory upgrading and reduced entry barriers. Mining and lithium-sector engagement, digital services, space technology, telecommunications, artificial intelligence and digital infrastructure were identified as priority areas. The India-MERCOSUR Preferential Trade Agreement, Terms of Reference and digital certificates of origin were considered mechanisms for trade facilitation and economic integration. Business discussions addressed commercial partnerships across agriculture, minerals, energy, pharmaceuticals, healthcare, banking and telecommunications.
August 29, 2026
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Shared digital infrastructure for professional services aims to expand technology access, interoperability, capability development and secure adoption across firms.
MCA and IICA are developing a government-backed digital public good ecosystem for domestic professional services, particularly small and medium practices. The framework proposes curated technology access, learning and capability development, and knowledge and practice infrastructure. It is intended to improve access to technology and professional knowledge while complementing existing institutional and market-based systems. Consultations address interoperability, common standards, cybersecurity, affordable access, implementation, change management, openness, competition and technology adoption suited to differing levels of digital readiness.
August 29, 2026
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Methamphetamine trafficking enforcement targets concealed cross-border transport, with seizures, vehicle confiscation, arrests and stringent penalties under narcotics law.
Methamphetamine trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985 involved intelligence-led seizures of tablets in Assam and Mizoram, along with the vehicles allegedly used for transportation and arrests of two vehicle occupants. Field testing indicated the presence of amphetamine. The tablets were concealed in fabricated cavities within a truck and car, with preliminary investigation indicating alleged cross-border smuggling into Mizoram. Methamphetamine is a notified psychotropic substance, and illicit manufacture, possession, transportation and trafficking attract stringent penal consequences.
August 29, 2026
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IPO disclosure integrity triggers one-year market access bar for issuer and promoter-directors over fabricated quotation and misleading financial disclosures.
SEBI restrained Trafiksol ITS Technologies Ltd. and its promoter-directors from accessing or dealing in the securities market for one year and imposed monetary penalties over irregularities in its SME IPO. The action concerned overstated financial disclosures, inadequate disclosure of issue expenditure and a potential merchant-banker conflict, and proposed use of IPO proceeds based on a fabricated software-vendor quotation. The listing was deferred and IPO proceeds were placed in an interest-bearing escrow account. One promoter was directly involved in procuring the quotation, while the other failed to exercise due diligence.
August 29, 2026
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Securities market fraud involving fictitious transactions triggered market bans, disgorgement, fund restoration, and governance restrictions.
SEBI imposed securities-market restrictions, disgorgement directions and monetary penalties in relation to alleged accounting fraud involving fictitious sales, purchases, circular transactions and fraudulent ledger entries. The alleged inflation of financial results facilitated migration to the NSE main board and was followed by fraudulent preferential allotments, a bonus issue and a rights issue. Rights issue proceeds were found to have been diverted, requiring restoration with applicable interest. The company and its managing director received seven-year market prohibitions, with additional governance restrictions applying to the managing director.
August 28, 2026
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Insolvency debt settlements: political criticism alleges severe creditor haircuts favour influential corporate borrowers over ordinary debtors.
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August 28, 2026
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Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
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August 28, 2026
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Proceeds-of-crime tracing prompts freezing of deposits linked to structured disposal of foreign property in a bank-loan fraud investigation.
Money-laundering investigation into alleged bank-loan fraud involving DHFL has resulted in the freezing of bank deposits held by Al Jalore Trading FZE under the Prevention of Money Laundering Act. A United Kingdom property was allegedly disposed of through a purported loan arrangement that created an encumbrance to settle an Indian liability. Sale proceeds were credited to Al Jalore Trading FZE's Indian bank account rather than to the registered owner, indicating alleged dissipation of proceeds of crime through a structured foreign-property transaction.
August 28, 2026
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Defence export authorisation reform streamlines consultations, expands unified licences, and facilitates eligible exporters' access to international markets.
Open General Export Licence arrangements permit eligible exporters to self-generate authorisations for multiple consignments of specified defence items without obtaining separate authorisation for each consignment. Three existing licence procedures are consolidated into a unified framework. Licence validity is extended to three years, and territorial coverage is expanded to all countries other than negative or sensitive nations and destinations subject to United Nations Security Council sanctions or arms embargoes. Eligible companies with long-term foreign original equipment manufacturer agreements may obtain licences aligned with the underlying contract, subject to prescribed conditions.
August 28, 2026
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IPO approval enables Jio Platforms to issue fresh equity shares, with proceeds earmarked for subsidiary debt repayment and corporate purposes.
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August 28, 2026
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Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
August 28, 2026
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Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
August 28, 2026
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Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.

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Corp. Laws, SEBI & IBC

Government Approves Fifteen (15) Proposals of Foreign Direct Investment Amounting to About Rs. 2000.49 Crore

September 27, 2013

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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 27, 2013, the Central Government has approved 15 proposals of Foreign Direct Investment (FDI) amounting to Rs. 2000.49 crore approximately.

In addition, two proposals viz., M/s IDFC Trustee Company Ltd., as proposed Trustee for India Infrastructure Fund II, Mumbai and M/s Mylan Inc. USA amounting to Rs.10668.00 crore, have been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).

Details of proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 27th August, 2013 :

Following 15 (Fifteen) proposals have been approved :

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. In crore)

1

M/s Grupo Massimo Dutti, S.A.

M/s Grupo Massimo Dutti S.A., Spain proposes to form a JV in India to engage in retail trading of Massimo Dutti brand clothing, apparel, footwear, accessories, fragrances and cosmetic products.

2.13

2

M/s Michelin India Tamil Nadu Tyres Pvt. Ltd., Tamil Nadu

An LLP with 99% FDI is proposed to be set up in tyre-related R&D and testing by a Swiss Company investing in Michelin tyre companies.

0.049

3

M/s Universal Salvage Limited, England

M/s Universal Salvage Ltd., proposes to set up an LLP with 99.999% FDI in its own business domain of provision of auctioneering services of total loss/ used/damaged vehicles.

6.38

($ 9,99,990)

4

M/s Deep Care Health Pvt. Ltd., Gujarat

Fresh issue of 40% equity shares in an existing Pharma Company, M/s Deep Care Health Private Limited to a foreign investor, M/s Rohto Pharmaceutical Company Limited, Japan for product diversification.

15.33

5

M/s Jubilant Pharma Pte Ltd., Singapore

M/s Jubilant Pharma Pte Ltd, Singapore has sought approval for setting up a wholly owned subsidiary in India, which will engage in brownfield pharma activities.

1145.10

6

M/s Laurus Labs Pvt. Ltd., Hyderabad

M/s Laurus Labs Private Limited, Hyderabad, a foreign owned and controlled Indian company proposes to acquire shares held by two non-resident entities in an existing pharma company, M/s Viziphar Biosciences Private Limited.

0.45

7

M/s Premier Medical Corporation Limited, Mumbai

A brownfield Pharma company proposes infusion of further capital from its existing foreign investor.

90.00

8

M/s Advanced Enzyme Technologies Ltd., Mumbai

M/s Advanced Enzymes Technologies Limited, an existing Pharma Company, proposes to receive foreign investment pursuant to an IPO and an offer for sale.

200.00

9

M/s Ferring Pharmaceuticals Pvt. Ltd.

M/s Ferring BV (Foreign company) proposes to infuse additional capital into M/s Ferring Therapeutics Pvt. Ltd. through its 100 % subsidiary M/s Ferring Pharmaceuticals Pvt. Ltd.

48.90

10

M/s Pama Machine Tools India Pvt. Ltd., New Delhi

M/s PAMA Machine Tools India Pvt. Ltd., a heavy engineering sector company, has sought post facto approval for issuance of partly paid up shares to its foreign parent, M/s PAMA Spa, Italy.

0.77

11

M/s Axiom Consulting Pvt. Ltd.

Approval has been sought for issue of shares at a pre-agreed priceof an IT company to a director who is a foreign national.

0.19

12

M/s Endeka Ceramics India Pvt. Ltd., Bangalore

M/s Endeka Ceramics India Private Limited, Karnataka is a WOS of M/s Endeka Ceramics Holding 1 SLU, Spain. It proposes to issue Compulsory Convertible Preference Shares (CCPS) in lieu of its parent meeting the expenses of its offshore bank guarantees being invoked.

Nil

13

M/s Fresenius Kabi India Private Limited

M/s Fresenius Kabi India Private Limited, an existing pharma company proposes to issue equity shares to Fresenius Kabi AG, Germany, its parent company.

35.00

14

M/s Symbiotec Pharmalab Limited, Madhya Pradesh

An existing pharma sector company proposes to transfer and issue equity shares upto a maximum of 70.86% to a foreign company.

306.19

15

M/s Lotus Surgical Specialities Private Limited, Mumbai

M/s Lotus Surgical Specialities Private Limited, an investing company proposed to issue/transfer of shares to M/s Samara Capital Partners Fund II Limited (foreign investor) and make downstream investment in M/s Lotus Surgical Private Limited.

150.00

The following10 (Ten) proposals have been deferred :

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s XeoInfosoft Pvt. Ltd., Bangalore

A software consultancy Company proposes to grant 50% ownership of equity to a Bangladeshi IT professional in order to tap his expertise.

2

M/s Australia Asia Resources LLP, USA

M/s Australia Asia Resources LLC, USA proposes to set up an LLP to carry out marketing and technical support services for sale of thermal and metallurgical coals and related commodities.

3

M/s Marketvistas Consumer Insights Pvt. Ltd., (SoniyaMahajani), Mumbai

M/s Marketvistas Consumer Insights Private Limited, Mumbai, the Investee company, engaged in market research has sought post-facto approval for issuance of partly paid up shares to M/s Rewhyer Limited, UK.

4

M/s JM Financial Limited, Mumbai

M/s JM Financial Limited, an Indian Core Investment company proposes to issue warrants to Mr. Vikram Shankar Pandit, an NRI, on a preferential basis.

5

M/s OriflameIndia Pvt Ltd

Post facto approval has been sought by M/s Oriflame India Pvt Ltd for amalgamation with its own group company M/s Silver Oak Laboratories Pvt Ltd, both involved in direct marketing of cosmetics and toiletries.

6

M/s P5 Asia Holding Investments (Mauritius) Limited, Mauritius

The applicant, a NR entity proposes to purchase 50% of the shares in an existing broadcasting company with 100% FDI, from another existing NR investor.

7

M/s HBO India Pvt. Ltd., New Delhi

An Indian company, viz., M/s HBO India Pvt. Ltd, New Delhi having foreign investment proposes to engage in the activities of down-linking non-news and current affairs television channels.

8

M/s INX Music Pvt. Ltd., Mumbai

M/s INX Music Private Limited, a company which aggregates and distributes music content for TV channels, having 70.85% indirect foreign investment proposes to undertake the additional activity of broadcasting of non-news and current affairs channels.

9

M/s Hindustan Coca-Cola Holdings Pvt. Ltd.

The Coca-Cola Holding company in India, which is fully foreign owned, is seeking post-facto approval for FDI inducted in the holding company during 2010-2011.

10

M/s Dhanlaxmi Infrastructure Pvt. Ltd., Gujarat

A NR company proposes to transfer its holding in an Indian Infrastructure company to its own group company before the completion of the 3 year lock-in-period.

 The following 3 (Three) proposals have been rejected :

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Rational Resources Ltd., Malta

M/s Rational Resources Ltd., Malta proposes to set up a WoS in India to support adapting and localising land-based, mobile and online poker game.

2

M/s India- Pacific Alliance Pvt. Ltd., Mumbai

M/s India- Pacific Alliance Pvt Ltd has sought post facto approval for issuance of shares to Pacific Alliance Capital Group, USA against pre-operative expenses borne by its erstwhile group company, M/s Pacific Alliance International.

3

M/s Financial software and Systems Pvt. Ltd., Chennai

M/s Financial Software and Systems Private Limited, an Indian financial software transaction processing solutions company, having 43.56% FDI proposes to engage in the additional activity of setting up, owning and operating White Label ATMs.

The following 3 (Three) 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 Quest Global Defence Engineering Services Pvt. Ltd., Bengaluru

M/s Quest Global Defence Engineering Services Pvt Ltd, Bengaluru (Investee Company) proposes to issue 26% equity to M/s Quest Global Services Pte Ltd. (foreign investor) to engage in defence-related IT and ITES engineering services.

0.26

2

M/s Boeing Cyprus Holdings Ltd., Cyprus

M/s Boeing Cyprus Holdings Ltd, Cyprus proposes to form a WoS in India, to engage in technical and consultancy services in the defence sector.

2.5

3

M/s Eurocopter India Pvt. Ltd. (FC.II: 86/2012)

M/s Eurocopter India Private Limited, a WoS of the French helicopter manufacturer, having obtained FC approval for 100% FDI in helicopter-related IT services, requests for deletion of two of the conditions mentioned in FC approval which were imposed as their clients included defence sector clients.

Nil

The following 02 (Two) proposals were withdrawn:

Sl. No.

Name of the applicant

1

M/s Aluchem Inc., USA

2

M/s Metalsa India Pvt. Ltd., New Delhi

The following 02 (Two) proposals have been recommended for the consideration of CCEA, as the investment involved in the proposals is above Rs.1200.00 crore:        

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s IDFC Trustee Company Ltd. As Proposed Trustee for India Infrastructure Fund II, Mumbai

An Indian company (M/s IDFC Trustee Company Ltd.) has sought approval to set up an AIF category I and for receiving contributions from international investors.

5500.00

2

M/s Mylan Inc. USA

A major US pharma group having Indian subsidiaries proposes to acquire another Indian pharma company engaged in manufacture of generic pharmaceutical products.

5168.00

Decision in the following 1 (One) proposal has been kept in abeyance :

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Cardolite Specialty Chemicals India Pvt. Ltd., Chennai

Conversion of a wholly foreign owned Indian Company into an LLP to be engaged in making industrial products using cashew nutshell liquid technology, followed by further infusion of capital.

 

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