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    Protection in predicate offence doesn't automatically extend to PMLA case: Delhi HC
    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
    National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a...
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    DGGI unearths clandestine pan masala and tobacco manufacturing network in Uttar Pradesh; 27 undeclared pouch-packing machines seized, evasion of about...
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    Bengaluru airport: AERA slashes user development fee to Rs 300 for domestic passengers
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    ED can't add old FIR to Enforcement Case Information Report to sustain PMLA proceedings: Delhi HC
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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.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export 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, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.

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News and Press Release

Union Minister Of Commerce & Industry Shri Piyush Goyal interacts with Industry Stakeholders and Associations at Auric, Chhatrapati Sambhaji Nagar, Maharashtra

February 21, 2025

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Union Government is committed towards creating a conducive environment for business growth and innovation: Shri Piyush Goyal

Maharashtra actively actively promoting investments across sectors, making it a favourable destination for businesses and investors: Shri Goyal

Shri Piyush Goyal endorses setting up of skill & job centre in AURIC Hall in collaboration with industry stakeholders

Union Minister undertakes aerial survey of upcoming Dighi Port Industrial Area

Union Minister of Commerce & Industry, Shri Piyush Goyal, visited the Aurangabad Industrial City (AURIC) Shendra developed under the National Industrial Corridor Development Programme (NICDP)  on the auspicious occasion of Chhatrapati Shivaji Jayanti on February 19, 2025. He also visited various operational industries at AURIC Shendra viz. Coatall Films Pvt Ltd, Inox Air Products, and Umasons Auto Compo Pvt. and appreciated the efforts being made by these units to achieve the vision of Viksit Bharat.

Highlighting AURIC’s global competitiveness, the Minister emphasized that Shendra-Bidkin Industrial Area stands as India’s premier large-scale greenfield industrial smart city, in terms of world-class infrastructure with plug-n-play infrastructure and futuristic urban planning with walk-to-work facilities. The Minister highlighted that 20 such Industrial Smart Cities are being developed by Govt of India under the NICDP which reaffirms the Modi government’s commitment to creating an advanced industrial ecosystem that caters to global investors and businesses.

Recognizing the critical need for a dedicated skill development center in AURIC, the Minister endorsed the establishment of a Skill & Job Centre in collaboration with industry stakeholders. The Confederation of Indian Industry (CII) has been urged to take the lead in setting up this center, which will be strategically housed within 20,000 sq. ft. of office space at AURIC Hall.

Shri Goyal appreciated Maharashtra for actively promoting investments across various sectors, making it a favourable destination for businesses and investors. Investors looking at Maharashtra can benefit from its proactive Government policies, strategic location, skilled workforce, and a strong Industrial base.

Shri Goyal further emphasized the Government's commitment towards fostering a robust Industrial ecosystem that supports innovation, sustainable growth, and global competitiveness. He highlighted the pivotal role of Industry stakeholders in achieving the nation's ambitious Vision of a Developed Nation @ 2047.

On the sidelines, the Minister Shri Piyush Goyal on 20th Feb 2025 also undertook an aerial survey of the upcoming Dighi Port Industrial Area (DPIA) under NICDP approved by GoI in Aug 2024 and nearby critical multimodal connectivity. The Minister was briefed on the advanced trunk infrastructure, integrated master planning, demand assessment, target sectors, and implementation timelines at DPIA by the officials. It was also highlighted that the project holds immense potential due to its strategic location on Mumbai-Goa Highway and proximity to Dighi Port. The Minister directed to create best-in-class infrastructure facilities for DPIA to create a benchmark for others to follow.

The interaction witnessed the participation of more than 100 stakeholders, including representatives from CII, FICCI, ASSOCHAM, CMIA, MASSIA, MAGIC, Marathwada Auto Cluster, Deogiri Electronic Cluster, Laghu Udyog Bharti, and other distinguished industry associations. Their continuous support and collaboration play a vital role in shaping Maharashtra into a premier global business destination. The event also provided a platform for industrialists focused on Maharashtra to share their views, innovative suggestions and success stories.

Officials from National Industrial Corridor Development Corporation (NICDC), Maharashtra Industrial Development Corporation (MIDC) and Maharashtra Industrial Township Limited (MITL) were also present during the event who were given necessary directions from the Hon’ble Minister for further facilitating Ease of Doing Business.

About AURIC:

Shendra and Bidkin Industrial Areas are being developed in two phases, covering 4,000 hectares (10,000 acres) to establish a modern industrial hub. Auric Smart City follows a balanced development model, with 60% of the land dedicated to industries and the remaining 40% allocated for commercial, residential, educational, and healthcare facilities. Essential infrastructure, including water supply, electricity, sewage systems, and high-speed internet, has been developed in Shendra (2,000 acres) and Bidkin Phase-1 (2,500 acres), with underground distribution reaching individual industrial plots. Notably, 42% of the water demand will be met through treated wastewater. The city is equipped with advanced SCADA systems, CCTV surveillance, air quality monitoring sensors, and traffic control mechanisms for effective governance. Additionally, the implementation of the e-Land Management system ensures a transparent process for industrial land allotment. With its electricity distribution license, Auric Smart City provides power at lower tariffs, enhancing its appeal to investors.

About Dighi Port Industrial Area:

The Dighi Port Industrial Area, spanning 6,056 acres across the Roha and Mangaon tehsils in Raigad district, is positioned as a key driver of industrial growth, leveraging its proximity to Mumbai and Pune. The project ensures seamless connectivity through major highways, including NH66 (Mumbai–Goa Highway), NH753F (Mangaon–Pune Highway), and Major State Highway 05, reinforcing its appeal for global and domestic investors.DPIA is strategically designed to accommodate key industries, including Engineering, Pharmaceuticals, Chemicals, Textiles, and Food & Beverages.

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