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    Judiciary proactively responded to emerging fraudulent schemes like digital arrest: CJI
    After HC rap, FDA withdraws licence cancellation and suspension orders against Cipla, MCA eateries
    HC slams FDA for ‘pedantic’ view, clears reopening of 5 eateries at MCA premises
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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.
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.
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.
SEBI's final observations enable Jio Platforms Ltd to proceed with an initial public offering comprising up to 27 crore newly issued equity shares. The transaction is structured as a fresh issue of shares. Offer proceeds are primarily allocated towards repayment or prepayment of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms' material subsidiary, with the balance designated for general corporate purposes.
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.
August 28, 2026
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IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
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.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
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.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
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.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.

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Shri Kapil Sibal’s Press Statement on 2G issues on behalf of the Government

December 12, 2011

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Press Information Bureau

Government of India

Ministry of Communications & Information Technology

10-December-2011 13:20 IST

Shri Kapil Sibal, the Union Minister for Communications and Information Technology held a press conference here today to make a statement on 2G issues on behalf of the Government. Following is the text of his press statement.

“Since the submission by the CAG of the Performance Audit Report on “Issue of Licences and Allocation of 2G spectrum”, there have been intense debate and criticism on the issue. The debate has taken a perverse turn and the NDA, besides some individuals, is making an attempt to malign and defame Shri P Chidambaram, Home Minister.

“We, in Government, categorically reject all such allegations. Shri P Chidambaram is a valued colleague and has discharged his responsibilities without fear or favour and with absolute integrity and devotion.

“Government is concerned that the public arena is being converted into a forum for a public trial of allegations and counter-allegations, many of which have no relation to facts. Government is, therefore, of the view that the matter must be put in perspective and the incontrovertible facts brought on record.

“The Telecom Sector was opened for private participation in 1994. Two licences were granted in each of the four major cities; the third licence was granted to MTNL/BSNL; and the fourth cellular operator was granted a licence in 2001 based on auction with ‘entry fee’ as the single bidding parameter. The entry fee was about Rs.1650 crore.

“Based on a Cabinet decision dated October 31, 2003, guidelines for the Unified Access Service Licences (UASL) were issued on November 11, 2003. On ‘entry fee’, the Cabinet decision of October 31, 2003 was that:

“The recommendation of TRAI with regard to implementation of Unified Access Licensing Regime for basic and cellular services may be accepted. DoT may be authorized to finalise the details of implementation with the approval of Minister of Communications & IT in this regard including the calculation of entry fee depending upon the date of payment based on the principles given by TRAI in its recommendations.” (para 2.4.6 of the note for Cabinet)

On ‘spectrum pricing, the decision was that “…the Department of Telecom and Ministry of Finance would also finalize spectrum pricing formula, which will include incentive for efficient use of spectrum as well as disincentive for sub-optimal usages…”. (para 2.1.3 of the note for Cabinet)

“All UAS licences given subsequently under the new regime were given after charging the same entry fee of about Rs.1650 crore on a first-come-first-served basis. There was no fresh auction. The licence had provisions for allocation of a certain amount of spectrum subject to availability.

“In 2007, the Ministry of Finance, in the context of issuance of permission for usage of dual technology spectrum, raised the issue of one-time fee and stated that the rate of Rs. 1600 crore, determined as far back in 2001, had been applied for a licence given in 2007 without any indexation, let alone current valuation. In response, DoT maintained that dual technology licences were issued based on TRAI’s recommendations which had not recommended any changes in the entry fee. The discussions between Ministry of Finance (MoF) and Department of Telecommunications (DoT) took place at the official level and through exchange of correspondence. DoT maintained that the initial entry fee should remain unchanged.

“On August 28, 2007, TRAI recommended that there should be no change in the policy in allotting 2G spectrum on the ground that there should be a level playing field for new entrants. DoT strongly relied on the said recommendation and reiterated the policy of no auction; no cap on number of licences; first-come-first-served basis; same entry fee; and licence bundled with spectrum.

“During the period up to the issue of Letters of Intent on January 10, 2008, Shri A Raja, then Minister of Communications, did not hold any meeting with Shri P Chidambaram, then Finance Minister. DoT turned down the suggestion of revision of entry fee and maintained that, based on TRAI’s recommendations, DoT would continue with the same policy that had been followed since 2003. Shri A Raja also assured the Prime Minister that the policy would be implemented in a fair and transparent manner.

“Letters of Intent were issued to new entrants on January 10, 2008. It is the validity of these LoIs that is now in issue.

“It will be clear from the foregoing sequence of events that Shri P Chidambaram was in no way responsible for the issue of LoIs on January 10, 2008 or the charging of entry fee of about Rs.1650 crore. In fact, the record will show that the Ministry of Finance had no knowledge that the LoIs would be issued on January 10, 2008.

“The LoIs issued on January 10, 2008 were issued on the basis of the same policy that had been followed since 2003. Government owns the policy. In fact, the Prime Minister is on record stating: “My own view has been that as far as the telecom policy that was sought to be implemented by the UPA government is concerned, in the basic policy, there was nothing wrong. It was consistent with the advice given by the TRAI; it was consistent with the need that we all felt to maximise teledensity.”

“Even while owning the policy, Government is aware that there may have been irregularities or misconduct in the implementation of the policy. Shri A Raja had categorically assured the Prime Minister that the policy would be implemented in a fair and transparent manner. Several irregularities and deviations have since been pointed out in the implementation of the policy. All these are matters that are being investigated and will be decided in accordance with law in the appropriate courts. Government wishes to emphasise that these are not matters which can be decided in a public debate. We should let the courts decide these matters.

“As Finance Minister, it was Shri P Chidambaram who raised the issue of revision of entry fee. However, the final view taken by DoT was that it would adopt the same policy that had been followed since 2003, including charging the same entry fee of about Rs.1650 crore. It is therefore preposterous to suggest that Shri P Chidambaram had any role to play in “fixing” the entry fee for the LoIs issued on January 10, 2008. It is pertinent to point out that CBI has submitted to the Supreme Court that it had looked into the matter thoroughly, recorded the statement of the then Finance Secretary, and had come to the conclusion that no official of the Ministry of Finance, including the then Finance Minister, had committed any irregularity or misconduct. Therefore, any attempt by the opposition to foist any culpability on Shri P Chidambaram is not only irresponsible but is yet another desperate attempt to make the institution of Parliamentary democracy dysfunctional.

“The opposition in Parliament has an important role to play and the Government is willing to cooperate with the opposition to ensure that all issues of importance are discussed in accordance with the rules. The opposition must also cooperate with the Government in ensuring that government business is transacted and crucial legislations are passed.”

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