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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.
CPI(M) criticised approval of a repayment plan involving Zee Group founder Subhash Chandra, asserting that repayment of Rs 6.5 crore against creditor claims of Rs 22,006.57 crore undermines fairness in insolvency debt settlement. It alleged severe creditor haircuts and bias favouring influential corporate borrowers. The party linked the settlement to an alleged pattern of large borrowers resolving liabilities at steep discounts, shifting the burden to taxpayers and small depositors while smaller borrowers face coercive recovery measures.
August 28, 2026
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Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
Good corporate governance is central to development and depends on responsible governance, ethical practices, transparency, institutional accountability and professional excellence. Company Secretaries have an expanding role in strengthening governance practices through professional expertise. Professional institutions should promote governance standards, support institutional excellence, and evolve their practices in response to changing requirements. Their wider contribution lies in fostering a culture of ethical entrepreneurship, responsibility, transparency and sound governance.
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.
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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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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.
August 28, 2026
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August 28, 2026
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Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
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August 28, 2026
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Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
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August 28, 2026
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Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
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August 28, 2026
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Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.

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Customs, DGFT & SEZ

Import of Scrap

August 8, 2014

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The import of any form of metallic waste, scrap is  permitted subject to the condition that it will not contain hazardous, toxic waste, radioactive contaminated waste / scrap containing radioactive material, any type of arms, ammunition, mines, shells, live or used cartridge or any other explosive material in any form either used or otherwise. The Import Policy for import of metallic waste and scrap as listed in Annex-I is ‘free’ subject to the condition that the consignment is accompanied by valid pre-shipment inspection certificate (PSIC), issued by recognized Pre-Shipment Inspection Agency (PSIA) certifying that the metallic scrap is free from explosive and radioactive contamination. Import of any form of metallic waste from Hodaideh, Yemen and Bandar Abbas, Iran can only be in shredded form. While import of shredded scrap is allowed through all ports, import of unshredded scrap can only take place through the following designated ports:

“1.Chennai,     2.Cochin,     3.Ennore,     4.JNPT,     5.Kandla,   6.Mormugao,   7.Mumbai,  8.New Mangalore,  9. Paradip, 10.Tuticorin,   11.Vishakhapatnam,   12. ICD Loni, Ghaziabad, 13.Pipava, 14.Mundra, 15.Kolkata,  16.ICD Ludhiana,  17.ICD  Dadri  (Greater  Noida),  18.ICD  Nagpur,19.ICD  Jodhpur,  20.ICD  Jaipur,  21.ICD  Udaipur,  22.CFS Mulund, 23. ICD Kanpur,  24.ICD Ahmedabad, 25.ICD Pitampur  and 26. ICD Malanpur”.

The details of quantum and value of metallic waste and scrap imported from various countries during each of the last three years and the current year, country and item-wise are at Annex- II.

In view of the risk to human life, property and national security, import of metal scrap in unshredded compressed and loose form is permitted only through 26 designated ports as in (a) above. Government has decided and has taken necessary steps for installing portal monitors, X-rays scanners or radiological scanners to handle metallic scraps, semi-finished products and finished products. Further eight coastal state authorities/maritime boards have been requested for installation of portal monitors at additional ports where metal scraps are handled. Atomic Energy Regulatory Board (AERB) has sensitized concerned Ministries on various aspects of issued related to radioactive contamination in imported metal scrap. Further, AERB in association with other organizations such as National Institute of Secondary Steel Technology (NISST), scrap associations, furnace associations etc  is conducting awareness programmes to sensitize various stake holders of metal recycling industry about the issue.

Annex-I

Import of Metallic Waste and Scrap

Import of following types of metallic waste and scrap are free subject to conditions of Port restrictions and PSIC and other conditions of Foreign Trade Policy/Handbook of  Procedure (2009-2014):

Sl.No.

Exim Code

Item description

1.

720410 00

Waste and scrap of cast iron

2.

72042190

Other

3.

72042920

Of High speed steel

4.

72042990

Other

5.

72043000

Waste and scrap of tinned iron or Steel

6.

72044100

Turnings,      shavings,      chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles

7.

72044900

Other

8.

72045000

Remelting scrap ingots

9.

74040010

Copper scrap

10.

74040022

Brass scrap

11.

75030010

Nickel scrap

12.

76020010

Aluminium scrap

13.

79020010

Zinc scrap

14.

80020010

Tin scrap

15.

81042010

Magnesium scrap

 

Annex-II

Item-Wise Import Of Metallic Waste And Scrap

Item Description

2011-12

2012-13

2013-14

2014-15(Apr to May)

 

QTY(MT)

VAL

(Rs  in Crore)

QTY(MT)

VAL

(Rs in Crore)

QTY(MT)

VAL

(Rs in Crore)

QTY(MT)

VAL

(Rs in Crore)

 

Ferrous Waste And Scrap; Remelting Scrap  Ingots

6962720

18893.82

8197924

24356.5

4779781

16454.93

930891

3061.78

 

Copper Waste And Scrap

161942

4702.3

204262

6433.33

143735

4945.93

30864

992.36

 

Nickel Waste And Scrap

1128

39.17

668

29.02

2790

138.81

534

23.07

 

Aluminium Waste And Scrap

627672

6072.23

738470

7384.62

721630

7568.9

144700

1506.92

 

Lead Waste And Scrap

66653

652.49

51494

518.92

58834

660.33

9398

106.52

 

Zinc Waste And Scrap

48581

410.91

61219

549.78

69496

683.12

12844

135.45

 

Other Base Metals Waste & Scrap

216

2.79

294

6.56

148

4.43

42

0.47

 

Grand Total

7868912

30773.71

9254331

39278.73

5776414

30456.45

1129273

5826.57

 

 

Country-Wise Import Of Metallic Waste And Scrap

COUNTRY

2011-12

2012-13

2013-14

2014-15(Apr to May)

QTY(MT)

VAL

(Rs in Core)

QTY(MT)

VAL

(Rs in Core)

QTY(MT)

VAL

(Rs in Core)

QTY(MT)

VAL

(Rs in Core)

U ARAB EMTS

1076874

4132.16

1066360

4990.02

933296

4903.35

205647

986.36

U K

1317377

4657.64

1433017

5105.39

832394

3663.02

174910

784

U S A

1116613

3418.54

1207141

4151.17

482399

2323.58

50640

309.75

SAUDI ARAB

164208

1485.39

186664

2009.91

153312

2276.54

28633

406.65

SOUTH AFRICA

672203

1724.64

1243536

3385.12

712757

2199.88

164719

479.95

NETHERLAND

257754

1794.91

327453

2058.51

167979

1356.52

33434

231.82

GERMANY

292544

1585.25

302237

1420.14

177371

1046.84

30143

198.99

AUSTRALIA

112225

568.35

166386

704.87

188006

879.46

40084

197.51

MALAYSIA

128737

691.68

153084

887.6

134414

871.39

36042

195.21

KUWAIT

232614

724.4

238398

951.94

142162

809.15

37319

152.63

SINGAPORE

113376

575.88

180169

787.01

126787

685.16

40602

183.99

THAILAND

32776

240.04

72932

417.96

83653

658.93

17634

172.36

BELGIUM

167269

559.19

152874

652.56

75648

487.35

22711

135.98

BAHARAIN IS

109263

400.67

113123

447.35

93804

411.78

24288

93.13

POLAND

57457

218.22

143105

450.2

80763

329.37

11465

54.32

SWEDEN

156036

519.61

107603

418.95

65514

301.54

6717

36.33

ANGOLA

168266

367.54

121234

346.31

86423

300.95

12548

40.7

SPAIN

14764

122.65

32915

270.15

24316

271.76

2384

41.42

CANADA

51664

142.05

154741

432.7

76986

253.1

8889

32.29

KOREA RP

30407

293.72

32199

260.88

29439

244.65

6996

65.01

OTHER COUNTRIES

1596485

6551.18

1819160

9129.99

1108991

6182.13

173468

1028.17

GRAND TOTAL

7868912

30773.71

9254331

39278.73

5776414

30456.45

1129273

5826.57

The information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.

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