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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.
August 28, 2026
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Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.
August 28, 2026
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Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
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Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
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Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.

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Our Constitution has Stood the test of Time as it has Ensured Peaceful Reconstruction and National Renewal, Cooperative Federalism and inclusive Development - Dr. Ashwani Kumar The Law & Justice Minister Addresses The Law Day Function

November 26, 2012

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Government of India

Ministry of Law & Justice

26-November-2012 17:39 IST

Stating that the Constitution of India has stood the test of time, Dr. Ashwani Kumar, Minister of Law and Justice, has said that it has ensured peaceful reconstruction and national renewal, cooperative federalism and inclusive development. Addressing the Law Day function here today as the Guest of Honour, Dr. Kumar said that the Constitution of India has served as an “auxiliary precaution” against transient impulses, and has moderated the political discourse consistent with the non negotiable constitutional imperatives. Inaugurated by the Chief Justice of India, the function was organized by the Supreme Court Bar Association.

Following is the text of the Law and Justice Minister’s address at the Law Day function: “This is indeed, a special day in the life of our nation. This day, 63 years ago the people of India gave unto themselves their national charter to establish a sovereign, socialist, secular and democratic republic and a promise to ensure for all Indian citizens justice, liberty, equality and fraternity.

This is an occasion to offer tribute and pay our humble obeisance to the framers the Constitution who took nearly three years to give us this magnificent document, hailed as amongst the finest constitutions in the world. It draws on the models provided by the constitutions of the US, Canada, Australia, the Irish Free State, the British constitution and the Government of India Act 1935, and draws its legal authority from the Indian Independence Act of 1947. The Indian Independence Act was itself a result of the protracted struggle for India’s freedom. During the Indian Freedom movement, the Indian National Congress had pledged to provide guarantees for fundamental rights which remain the sheet anchor of our national charter.

Our Constitution has stood the test of time. It has ensured peaceful reconstruction and national renewal, cooperative federalism and inclusive development. It has served as an “auxiliary precaution” against transient impulses, and has moderated the political discourse consistent with the non negotiable constitutional imperatives.

It has subserved the twin objectives of a government limited by laws and committed to constitutionalisation. As a nation, we can be justly proud of our abiding commitment to the rule of law, free elections, fundamental rights of the people, directive principles of state policy, federalism, and decentralization of power as the bedrock of constitutional governance.

The task of ensuring that our republican charter remains a “living Constitution” stands entrusted to superior judiciary, more particularly to the Supreme Court. The great judges of this Court have not shirked from shifting their attention from word play to the facts of life. Through a balancing of pretending constitutional absolutes, the court has preserved the fine constitutional balance within which the three organs of the state are required to work. Our constitutional jurisprudence built on the edifice of path breaking judgments of this Court have enriched the functioning of democracy in action.

The Landmark judgments of the apex Court have indeed clothed the skeleton of the basic Law. I can recall path breaking judgments of the Court in - D.S. Nakara , Royappa, Dayanand Shetty, Indra Sawhney, S.R. Bommai , Kesavananda Bharati , Minerva Mills, Waman Rao , Bachchan Singh , Maneka Gandhi , I.R. Coelha , Chameli Singh, Khatri , Mohini Jain, Hussainara Khatun, Bandhua Mukti Morcha and many others all of which have vindicated the conscience of the Constitution.

The promise of the constitution would have remained a dead letter but for the higher judiciary which, as the final arbiter has given content to the spirit of the Constitution and by giving it meaning in “new settings as society changes.” We know that there is no such thing as a constitutional provision with a static meaning. Only when given life by the court can the law “rule”. Indeed, as Judge Cardozo reminded us , and I gook “the outstanding truths of life, the great and unquestioned phenomena of society are not to be argued away as myths and vagaries when they do not fit within our little moulds. If necessary, we must remake the moulds. We must seek a conception of law which realism can accept as true …….”

While arbitrating upon the often competing constitutional imperatives and leaning in favor of the justice of the cause before them, courts have refrained from becoming the third or a revising legislative chamber and the “ Laxman Rekha” in this regard has been drawn by the judges themselves.

The UPA government remains committed to and pledges itself to secure the foundations of the rule of law and judicial independence - integral components of the non-negotiable basic structure of the constitution. The promise of the Constitution in this regard cannot be fulfilled unless we can ensure affordable and speedy justice to all our citizens in larger freedom. A series of initiatives have been taken by the Government towards this in recent times. These include:

a. Establishing a National Mission for Justice Delivery and Legal Reforms

b. Notification of a National Court Management System by the Supreme Court for addressing the issues of case management, court management, setting measureable standards for performance of the courts and the National System of Judicial Statistics in the country

c. A Sub Group on improving the court procedure and court processes for better criminal justice system has been constituted under the Chairman, Law Commission to suggest necessary changes in this regard.

d. An amount of Rs.595 crore was released as central assistance to States / UTs for infrastructure development of subordinate judiciary during 2011-12.

e. The 13th Finance Commission has allocated a grant of Rs.5000 crore for the States over a period of 5 years between 2010-2015 for various initiatives such as increasing the number of court working hours using the existing infrastructure by holding morning / evening / shift courts; enhancing support to LokAdalats to reduce the pressure on regular courts; providing additional funds to State Legal Services Authorities to enable them to provide legal aid to the marginalized and empower them to access justice; and promoting the Alternative Dispute Resolution (ADR) mechanism to resolve some of the disputes outside the court system etc.

In conclusion, let us celebrate our venerated Constitution today and hereafter for not only does its spirit reflect our past, it defines our present and will determine our future as a nation committed to democracy and constitutionalism. We will need to summon our will and intellect to translate into action the promise of the Constitution for the vast multitude of our people to whose welfare our founding fathers were so passionately committed.

The defining moments of history often come without a warning. It is for us to ensure that our “living Constitution” can respond to these moments of history in an age of revolutionary global transformation. Indeed, all national histories, as Gurudev Tagore reminded us are only chapters of a bigger one. At a time when we aspire to play our rightful role on the world stage , India’s ascendancy must represent to the world the vindication of its high Constitutional ideals – the constant expansion of human freedoms, an embrace of diversity and multiculturalism, a repudiation of extremes and an irrevocable commitment to the ideals of a secular and liberal democracy.”

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