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    Latur CA booked for issuing certificates to facilitate remittance of hundreds of crores abroad
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August 22, 2026
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Form 15CB certification faces scrutiny where inadequate verification allegedly enables foreign remittances through shell companies and false certificates.
Alleged misuse of Form 15CB certification has resulted in criminal proceedings concerning certificates issued for foreign remittances without verification of underlying documents. Form 15CB requires certification of applicable taxability and tax-deduction particulars for specified remittances to non-residents before processing by an authorised dealer. The allegations concern certificates that potentially enabled cross-border transfers through shell or non-existent companies, involving cheating, false certification, false evidence and common intention.
August 22, 2026
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Beginner stock market investing requires regulated accounts, risk-aware financial planning, diversification and informed company assessment before purchasing securities.
Beginner stock market investing requires a bank account, a trading or broking account with a SEBI-registered broker, and a Demat account for electronic holding of securities. Investments involve risk of loss and should align with financial goals, time horizon and loss-bearing capacity. Investors should understand primary and secondary markets, distinguish long-term investing from short-term trading, assess companies before purchase, diversify holdings, consider charges, maintain records and avoid borrowed-money investing, rumours and momentum-driven decisions.
August 22, 2026
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Capacity-based tobacco taxation targets undeclared packing machinery used for clandestine production and clearance without indirect tax payment.
Clandestine manufacture and clearance of pan masala, scented jarda and tobacco products without registration or payment of GST, HSNS Cess and central excise duty was detected through an intelligence-led search. Undeclared Form-Fill-Seal packing machines, workers, finished goods, raw materials, transport vehicles, packing materials and records indicated unaccounted production and clearance. Capacity-based monthly HSNS Cess for pan masala is computed according to the number, type and capacity of installed packing machines, while a corresponding capacity-based central excise levy applies to chewing tobacco, jarda and gutkha.
August 22, 2026
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Trade exhibition connects Korean exporters with Indian buyers through sector-specific consultations and certification guidance for market entry.
KoINDEX 2026 is a business-to-business trade exhibition bringing Korean manufacturers and exporters together with buyers in India and South Asia. It focuses on beauty and personal-care products, processed and functional foods, and construction, building and safety products. Commercial engagement includes pre-matched export consultations with project owners, contractors, distributors, wholesalers, e-commerce platforms and food distribution businesses. A seminar addresses Bureau of Indian Standards certification and market-entry requirements for Korean products entering the Indian market.
August 22, 2026
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Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
August 22, 2026
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Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
August 22, 2026
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Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
August 22, 2026
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Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
August 22, 2026
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Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
August 22, 2026
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Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
August 22, 2026
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
August 21, 2026
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Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
August 21, 2026
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Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
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Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
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Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
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Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.

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Corp. Laws, SEBI & IBC

Assessment of States/UTs based on implementation of Business Reforms Action Plan for the year 2020 declared

June 30, 2022

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Assessment of States/UTs based on implementation of Business Reforms Action Plan for the year 2020 declared

Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Tamil Nadu and Telangana are the Top Achievers

Himachal Pradesh, Madhya Pradesh, Maharashtra, Odisha, Uttarakhand and Uttar Pradesh figure under the Achievers category.

We are implementing responsive reforms by nudging the states and UTs: Smt. Nirmala Sitharaman

Ease of Doing Business now being seen across the country in spirit of competitive and collaborative federalism: Shri Piyush Goyal

Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Tamil Nadu and Telangana are the Top Achievers based on implementation of Business Reforms Action Plan. Himachal Pradesh, Madhya Pradesh, Maharashtra, Odisha, Uttarakhand and Uttar Pradesh figure under the Achievers category. While Assam, Chhattisgarh, Goa, Jharkhand, Kerala, Rajasthan and West Bengal have been placed in the Aspirers category, Andaman & Nicobar, Bihar, Chandigarh, Daman & Diu, Dadra & Nagar Haveli,

Delhi, Jammu & Kashmir, Manipur, Meghalaya, Nagaland, Puducherry and Tripura have been clubbed under the Emerging Business Ecosystems category.

Smt. Nirmala Sitharaman, Hon’ble Minister of Finance and Corporate Affairs, announced the assessment of States/UTs under Business Reforms Action Plan (BRAP) 2020, the 5th edition of the BRAP exercise in New Delhi today.The announcements were made in the august presence of Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Anurag Jain, Secretary, DPIIT and Senior Government officials of State and UT administration.

Speaking after release of assessment report, Smt. Sitharaman said that the nature of reforms had undergone change since 1991. “The reforms now taking place are responsive reforms. Unlike the reforms of 1991, which were given to us for implementation, there is no compulsion now. The objective is to see what will bring out improvement in systems and ensure better lives for us. An element of nudge has been brought into every layer of the government. Nudging can not be by the government only and the industry has a big role to play there,’, the Finance Minister said. The Finance Minister appreciated the changes brought in the assessment framework of implementation under the Business Reforms Action Plan over years.

Speaking at the event, Shri Piyush Goyal, Hon’ble Minister for Commerce & Industry said that the assessment has evolved from evidence-based to 100% feedback in multilingual format. He said that the purpose of this BRAP exercise is to infuse a culture of learning from each other’s best practices and improve upon the business climate in each State/UT with a unified objective for India to emerge as a most favoured Investment Destination across the globe

“When Hon’ble Prime Minister gave the thrust in 2014 to improving the ease of doing business, one of his major thrust areas was that while we are working at the international level for improving our ranking, we must involve all the stakeholders including the States and UTs in our effort to get them on board so that people really feel the difference and change in their ecosystem, which will lead to ease of living,” Shri Goyal said.

“The process started in 2014 has started bearing fruit as we go along. Rather than ease of doing business being limited to a few areas, few cities and few businesses, we are seeing it being reflected across the country through the spirit of competitive federalism and also of collaboration”, the Commerce & Industry minister added.

Secretary, DPIIT Shri Anurag Jain said that the difference between various states/UTs was so small that it did not make sense to rank them but rather put them in various categories.

The BRAP 2020 includes 301 reform points covering 15 business regulatory areas such as Access to Information, Single Window System, Labour, Environment, Land Administration & Transfer of Land and Property, Utility Permits and others. 118 new reforms were included to further augment the reform process. Sectoral reforms with 72 action points spread across 9 sectors namely Trade License, Healthcare, Legal Metrology, Cinema Halls, Hospitality, Fire NOC, Telecom, Movie Shooting and Tourism were introduced for the first time to expand the scope of reform agenda.

The broader aim is to boost investor confidence, foster business friendly climate and augment Ease of Doing Business across the country by introducing an element of healthy competition through a system of assessing states based on their performance in the implementation of Business Reforms Action Plan. In a departure from the previous years, where States/UTs were ranked, this year they have been placed under the four categories viz. Top Achievers, Achievers, Aspirers and Emerging Business Ecosystems. The objective of assessing the States/UTs is not to create a hierarchy amongst States/UTs but to rather create an enabling framework wherein learnings can be shared amongst States/UTs which in turn will lead to a nationwide spill over of good practices.The assessment gives full weightage to the feedback obtained from actual users/respondents at the ground level, who provided their feedback about the effective implementation of reforms.

DPIIT since 2014 has been assessing States/UTs based on their performance in implementation of prescribed reforms in Business Reforms Action Plan (BRAP) exercise. Till date, assessment of States/UTs have been released for the years 2015, 2016, 2017-18 and 2019.

It is commendable to note the endeavour of the States/UTs in implementing the reforms and with that spirit, DPIIT has assessed and grouped States/UTs into broad category-wise segmentation to recognize and identify the exemplary reform measures undertaken by the States/UTs to improve business environment.

(All names in Alphabetical Order)

The States/UTs under the Top Achievers category in BRAP 2020 are:

Andhra Pradesh

Gujarat

Haryana

Karnataka

Punjab

Tamil Nadu

Telangana

The States/UTs under the Achievers category in BRAP 2020 are:

Himachal Pradesh

Madhya Pradesh

Maharashtra

Odisha

Uttarakhand

Uttar Pradesh

The States under the Aspirers category in BRAP 2020 are:

Assam

Chhattisgarh

Goa

Jharkhand

Kerala

Rajasthan

West Bengal

The States under the Emerging Business Ecosystems category in BRAP 2020 are:

Andaman & Nicobar

Bihar

Chandigarh

Daman & Diu, Dadra & Nagar Haveli

Delhi

Jammu & Kashmir

Manipur

Meghalaya

Nagaland

Puducherry

Tripura

Feedback could not be obtained for Sikkim, Mizoram, Arunachal Pradesh, Lakshadweep and Ladakh due to insufficient User Data

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