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    September 1, 2026
    DGFT Enables Automated Issuance of Free Sale and Commerce Certificates to Promote Ease of Doing Business
    Show AI Summary
    Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
    DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
    September 1, 2026
    Bank unions to go on nationwide strike on Sep 11 over 5-day banking, other issues
    Show AI Summary
    Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
    United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
    September 1, 2026
    Stock markets close marginally lower amid higher oil prices, fresh US-Iran tensions
    Show AI Summary
    Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
    Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
    September 1, 2026
    Gross and Net GST revenue collections for the month of August, 2026
    Show AI Summary
    GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
    GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
    September 1, 2026
    A Quarter-Century of Trade. One Unbroken Connection.
    Show AI Summary
    Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
    AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
    September 1, 2026
    NCLT bars Subhash Chandra from alienating assets, stays Rs 6.5-cr repayment plan
    Show AI Summary
    Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
    Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
    September 1, 2026
    Rupee gains 28 paise to close at 94.94 against US dollar
    Show AI Summary
    Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
    Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
    September 1, 2026
    ED raids in Chhattisgarh PSC 'scam' case; Baghel's ex-PA raided
    Show AI Summary
    Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
    Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
    September 1, 2026
    NCLT bars Subhash Chandra from selling assets as lenders challenge Rs 6.5 cr settlement
    Show AI Summary
    Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
    A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
    September 1, 2026
    HIGHLIGHTS
    Show AI Summary
    Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
    A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
    September 1, 2026
    Loan waiver scheme: Special Aadhaar verification process for farmers in Latur
    Show AI Summary
    Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
    Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
    September 1, 2026
    Gross GST mop-up grows 15 pc to Rs 2 lakh cr in Aug
    Show AI Summary
    GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
    GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
    September 1, 2026
    NCLT issues notices in Subhash Chandra insolvency matter, directs not to dispose of property
    Show AI Summary
    Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
    Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
    September 1, 2026
    Markets drift lower in early trade amid higher oil prices, fresh US-Iran tensions
    Show AI Summary
    Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
    Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
    September 1, 2026
    ED raids in Chhattisgarh PSC 'scam' case; ex CM Baghel's PA raided
    Show AI Summary
    Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
    A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
    September 1, 2026
    ITR filing for AY27 touches record 7.8 cr
    Show AI Summary
    Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
    August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
    September 1, 2026
    DRI seizes over 42 kg foreign-origin gold worth more than RS. 65 crore in crackdown on gold smuggling
    Show AI Summary
    Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
    Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
    September 1, 2026
    MoSPI signs MoU with Thapar Institute of Engineering & Technology, Punjab for undertaking a Research Study
    Show AI Summary
    Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
    MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
    August 31, 2026
    NCLT forms historic 5-member bench to decide on Subhash Chandra's Rs 6.5 cr repayment plan
    Show AI Summary
    Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
    National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
    August 31, 2026
    NCLT fails to arrive majority decision on Subhash Chandra's Rs 6.5 cr repayment plan
    Show AI Summary
    Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
    Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.

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    Corp. Laws, SEBI & IBC

    Ministry of Corporate Affairs (MCA) has filed prosecution against 780 listed companies under various sections of Companies Act, 2013 due to non-filing of Financial Statements and Annual Returns

    March 24, 2018

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    The Government has taken any steps against listed companies which are not functioning. Ministry of Corporate Affairs (MCA) has filed prosecution against 780 listed companies under various sections of Companies Act, 2013 due to non-filing of Financial Statements and Annual Returns.

    As on 31st December 2015, there were 15.19 lakh registered companies in India. Of these, 10.7 lakh companies were active in which 7,269 were listed companies. There were only 7,270 active listed companies out of 17.21 lakh registered companies as on December 2017 whereas in December 2014 there were 7,261 active listed companies out of 14.39 lakh registered companies in India.

    This was stated by Union Minister of State for Law & Justice and Corporate Affairs Shri P.P. Chaudhary in Lok Sabha.

    The Registrar of Companies (RoCs)–wise number of registered and closed companies (under section 248(2), CA 2013) during the last two (2) financial years is as under:

    Sl.No

    Name of RoCs

    FY 2015-16

    FY 2016-17

    Companies registered

     Closed Companies

    Companies registered

     Closed Companies

    1

    AHMEDABAD

               3,692

                     1,253

                        4,645

                   1,097

    2

    ANDAMAN

                    -  

                          -  

                             38

                        -  

    3

    BANGALORE

               7,554

                       716

                        8,905

                     263

    4

    CHANDIGARH

               1,344

                       447

                        1,496

                     365

    5

    CHENNAI

               4,975

                     1,165

                        5,433

                     798

    6

    CHHATTISGARH

                  420

                         56

                           537

                       84

    7

    COIMBATORE

               1,148

                       210

                        1,227

                     185

    8

    CUTTACK

               1,247

                         61

                        1,523

                       62

    9

    DELHI

              17,525

                     4,566

                       20,274

                   3,684

    10

    ERNAKULAM

               2,202

                       467

                        3,067

                     358

    11

    GOA

                  236

                         12

                           304

                     149

    12

    GWALIOR

               1,544

                       507

                        2,172

                     401

    13

    HIMACHAL PRADESH

                  263

                       113

                           340

                       81

    14

    HYDERABAD

               7,938

                       235

                        8,895

                     217

    15

    JAIPUR

               2,330

                       854

                        2,695

                     605

    16

    JAMMU

                  273

                         10

                           274

                       37

    17

    JHARKHAND

                  866

                       151

                        1,029

                       55

    18

    KANPUR

               7,527

                     1,062

                        8,682

                     242

    19

    KOLKATA

               4,473

                     2,089

                        4,754

                   2,628

    20

    MUMBAI

              11,183

                     2,276

                       12,345

                   3,750

    21

    PATNA

               2,394

                       229

                        2,711

                     101

    22

    PONDICHERRY

                    99

                         20

                             93

                       15

    23

    PUNE

               4,331

                       730

                        5,159

                     786

    24

    SHILLONG

                  395

                         82

                           572

                       78

    25

    UTTARAKHAND

                  522

                         37

                           678

                       19

    TOTAL

              84,481

                   17,348

                       97,848

                 16,060

    Section 248(1)(c) of the Companies Act, 2013 provides for removal of name of company from the register of companies if it is not carrying on any business or operation for a period of 2 (two) immediately preceding financial years and has not made any application within such period for obtaining the status of dormant company u/s 455.  Based on the above mentioned provision, 2.97 lakh companies were identified under this category as on 31.03.2017 and after following due process names of 2,26,166 companies were struck off from the register of companies as on 31.12.2017. The States/UTs-wise details of such 2,26,166 companies is:

    Sl.No

    States/UTs

     Removed from Register of companies

    1

    Andaman & Nicobar

                                        76

    2

    Andhra Pradesh

                                   3,633

    3

    Arunachal Pradesh

                                      14

    4

    Assam

                                   172

    5

    Bihar

                                   1,557

    6

    Chandigarh

                                   1,453

    7

    Chhattisgarh

                                   906

    8

    Dadra & Nagar Haveli

                                        46

    9

    Daman and Diu

                                       13

    10

    Delhi

                                 43,925

    11

    Goa

                                   1,744

    12

    Gujarat

                                 11,389

    13

    Haryana

                                   3,882

    14

    Himachal Pradesh

                                   754

    15

    Jammu & Kashmir

                                   1,394

    16

    Jharkhand

                                   636

    17

    Karnataka

                                 18,165

    18

    Kerala

                                 4,059

    19

    Lakshadweep

                                          3

    20

    Madhya Pradesh

                                 4,702

    21

    Maharashtra

                                 59,849

    22

    Manipur

                                     9

    23

    Meghalaya

                                    30

    24

    Mizoram

                                        2

    25

    Nagaland

                                     6

    26

    Odisha

                                   1,824

    27

    Puducherry

                                   571

    28

    Punjab

                                 2,928

    29

    Rajasthan

                                 5,178

    30

    Sikkim

    -

    31

    Tamil Nadu

                                 24,723

    32

    Telangana

                                 16,817

    33

    Tripura

                                      14

    34

    Uttar Pradesh

                                 6,822

    35

    Uttarakhand

                               792

    36

    West Bengal

                                 8,078

    Total

                              2,26,166

    Topics

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