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    Net direct tax collection rises 13 pc to Rs 12.12 lakh cr till Sept 17 on higher advance tax mop-up
    SP Group backs Tata Sons listing, bolstering board's push despite Trusts' opposition
    Shapoor Mistry backs Tata Sons listing, calls it opportunity for greater accountability
    India Welcomes Passage of New Zealand Legislation to Give Effect to India-New Zealand FTA
    CCI approves acquisition of certain additional shareholding in Azure Power Global Limited by OMERS Infrastructure Asia Holdings Pte. Ltd.
    CCI approves acquisition of certain equity share capital of Great White Global Pvt Ltd by ISAF III Onshore Fund, India Special Assets Fund III, Specia...
    CCI approves acquisition of three professional cricket franchises: Rajasthan Royals (India), Paarl Royals (South Africa) and Barbados Royals (Barbados...
    India warns that Washington's Russia sanctions bill holds implications for bilateral ties, energy market
    Tata Sons in open revolt: Board reappoints Chandrasekaran, Trusts call it illegal
    Tata Trusts puts Rs 25,000 cr SP Group liquidity plan before Tata Sons board
    Tata turf war spills over: Board reappoints Chandrasekaran, Trusts call it illegal
    Scale up fishing capacity in EEZ, target high-value species for export: Minister to fishermen
    FinMin allays fears of increase in cash transactions post UPI MDR levy: Sources
    Tata Sons reappoints Chandrasekaran, but Tata Trusts call the vote 'illegal', setting up boardroom battle
    International Hardware Fair India 2026 to Bring the Tools and Hardware Industry Together from 23–25 October in New Delhi
    86400 Expands Financial Services Technology Portfolio with Three New Launches
    Ministry of Finance to organise a Conference of State Finance Ministers and Finance Secretaries on “Financing India’s Journey towards Viksit Bhara...
    Diwali 2026 Is Late 26 Things Every Clothing Business Must Fix Now
    '84 rules changed': Cong accuses Uttarakhand CM of handing power project meant for PSUs to Adani
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September 18, 2026
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Direct tax collections reflect stronger advance tax payments, alongside increased corporate tax, securities transaction tax, and refund issuance.
Net direct-tax collections exceeded Rs 12.12 lakh crore through 17 September, reflecting 13 per cent growth following increased advance-tax receipts. Gross direct-tax collections exceeded Rs 14.32 lakh crore, while refunds exceeded Rs 2.20 lakh crore. Corporate-tax and non-corporate tax collections increased, as did Securities Transaction Tax collections. Advance-tax receipts exceeded Rs 5.22 lakh crore, comprising increased corporate advance tax and non-corporate advance tax payments.
September 18, 2026
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Upper-layer NBFC listing compliance sharpens corporate governance conflict over public accountability, shareholder liquidity, and preservation of private ownership.
Tata Sons' status as an upper-layer non-banking financial company has brought its proposed public listing into focus after the Reserve Bank of India rejected its application to voluntarily surrender core investment company registration. Tata Sons is required to take steps to comply with the enhanced regulatory framework applicable to upper-layer NBFCs, which includes stock-market listing. Classified in 2022, Tata Sons did not meet the original listing deadline and had pursued deregistration after repaying debt.
September 18, 2026
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Upper-layer NBFC compliance places Tata Sons on a listing-oriented path emphasising transparency, governance, shareholder visibility, and philanthropic continuity.
Reserve Bank of India rejection of Tata Sons' application to surrender its core investment company registration requires compliance with the upper-layer non-banking financial company regulatory framework. The resulting regulatory path is associated with public listing. Shapoor Mistry supports listing as a means to enhance transparency, shareholder visibility, and corporate governance accountability, while potentially clarifying the holding company's value and supporting a durable flow of value towards charitable activities without compromising Tata's philanthropic mission.
September 18, 2026
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Duty-free market access will cover all covered exports upon entry into force under the bilateral free trade agreement.
Upon entry into force, the India-New Zealand Free Trade Agreement grants duty-free access in New Zealand for 100 per cent of Indian exports, including textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture, and processed food products. It also provides enhanced preferential access to the Indian market for specified New Zealand exports. The Agreement further covers services, investment, professional, student and youth mobility, and cooperation in agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology, and trade facilitation.
September 18, 2026
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Competition clearance for additional shareholding acquisition facilitates increased investment in Azure Power's renewable energy business by OMERS Infrastructure.
Competition approval has been granted for a proposed combination involving OMERS Infrastructure Asia Holdings Pte. Ltd.'s acquisition of certain additional shareholding in Azure Power Global Limited from CDPQ Infrastructures Asia Pte. Ltd. Azure Power Global Limited is the parent entity of the Azure group, which establishes and operates renewable energy plants and sells solar power in India.
September 18, 2026
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Competition approval for interconnected acquisitions enables shared equity acquisition in Great White and sole control acquisition in ITVIS.
Competition-law approval covers an interconnected combination involving acquisition of 50% of Great White Global Private Limited's issued and paid-up equity share capital by EAAA Acquiring Entities and the Continuing Promoter group, through inter-connected steps using an acquisition special purpose vehicle that will merge into Great White. The combination also includes Mr. Mehul Shah's acquisition of sole control over ITVIS Innovations Private Limited.
September 18, 2026
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Competition approval for acquiring three Royals franchises covers cross-border professional cricket franchise ownership interests and related transaction arrangements.
Competition Commission of India granted competition approval for the proposed combination involving Westview Cricket Limited and Poonawalla Sports and Fitness Private Limited acquiring the Rajasthan Royals, Paarl Royals and Barbados Royals professional cricket franchises. The franchises operate respectively in India, South Africa and Barbados, with Rajasthan Royals participating in the Indian Premier League T20 cricket tournament organised by the Board of Control for Cricket in India.
September 17, 2026
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Sanctions bill permits punitive tariffs on oil and gas trading partners, raising energy-market and bilateral relationship concerns.
United States sanctions bill concerning Russia would authorize the President to impose sanctions on Russia and punitive tariffs of up to 100 per cent on nations importing Russian crude oil. The tariff mechanism may affect oil and gas trading partners, bilateral relations and global energy markets, with concern expressed over its implications for energy trade.
September 17, 2026
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Secondary sanctions on Russian energy trade could expose major crude importers to punitive tariffs and economic pressure.
Congressional legislation targeting Russia and Iran would authorise sanctions against Russia's leadership, energy sector, and vessels facilitating evasion of oil-delivery restrictions. It would also permit punitive tariffs of up to 100 per cent on leading trading partners continuing to import Russian oil and gas. India has identified possible effects on bilateral economic relations and the international energy market, while maintaining that diversified sourcing is necessary for energy security and that its trade and economic interests will be protected.
September 17, 2026
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Trust-nominated director consent shapes the contested chairmanship reappointment as regulatory classification renews pressure to consider a stock-market listing.
Validity of the reappointment is therefore contested under the company's internal governance framework despite the majority board vote, and the appointment is expected to be considered for ratification at the annual general meeting. The dispute also concerns the distinction between shareholder influence and directors' decision-making duties. A Trust sought to direct its nominee director to oppose a listing, but the director declined on the basis of independent director duties.
September 17, 2026
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Selective capital reduction offers a proposed shareholder-liquidity route while preserving private-company status, subject to valuation and approval scrutiny.
Tata Trusts has placed before the Tata Sons board a framework for the Shapoorji Pallonji Group to monetise part of its Tata Sons shareholding without requiring a public listing. The transaction would be valued under Rule 11UA principles, completed in two tranches over 18 months, and require Tata Sons to commence a selective capital reduction process before the National Company Law Tribunal. Completion remains contingent on financing capacity, regulatory and tribunal approvals, and scrutiny of valuation, shareholder treatment, and the legal validity of the capital-reduction structure.
September 17, 2026
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Board chair reappointment validity turns on mandatory nominee-director approval, amid separate listing-compliance and succession disputes.
Tata Sons' board reappointed its executive chairman by majority vote, but Tata Trusts contend that the resolution is void under the Articles of Association because both Trust-nominated directors must approve a chairmanship resolution. The dispute also concerns the effect of the chairman's earlier decision to step aside, an ongoing successor-selection process, and uncertainty over a nominee director's status following a failed general meeting. Separately, the rejection of Tata Sons' deregistration request has revived questions over compliance with the listing requirement applicable to an upper-layer non-banking financial company.
September 17, 2026
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Deep-sea fishing access supports export-oriented harvesting of high-value species, with foreign-port high-seas landings recognised as exports.
Deep-sea fishing policy promotes expansion of fishing operations within India's Exclusive Economic Zone (EEZ) and on the high seas to increase fisherfolk income through exports of high-value species. High-seas catch classification has been altered so that fish caught on the high seas and offloaded at a foreign port are treated as exports rather than imports.
September 17, 2026
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Merchant discount rate on eligible UPI payments places charges on merchants while preserving consumer protections and small merchant exemptions.
Merchant Discount Rate at 0.4 per cent will apply from October 15 to person-to-merchant UPI payments above Rs 2,000, payable by merchants and subject to a cap for high-value transactions. Individual transfers and most everyday merchant payments remain free, while eligible small QR-code merchants are exempt. Essential-service payments and capital-market transactions receive separate fee treatment, and a portion of MDR collections will support small-merchant UPI adoption.
September 17, 2026
Show AI Summary
Board reappointment validity depends on shareholder-nominated director consent, directorship quorum concerns, and leadership continuity amid listing compliance.
Tata Sons' board approved by majority vote the Executive Chairman's reappointment for a further five-year term after he reconsidered an earlier decision not to seek renewal. Tata Trusts contest the validity of the resolution, maintaining that the Articles of Association require affirmative votes from both Trust-nominated directors and that a dissenting vote renders a chairmanship resolution legally void. They also cite the accepted succession process and unresolved directorship status arising from a general meeting lacking quorum.
September 17, 2026
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Buyer-seller engagement supports sourcing and export-market opportunities for tools and hardware businesses through an international trade fair.
International Hardware Fair India 2026 is scheduled for 23-25 October 2026 at Bharat Mandapam, New Delhi, as a trade platform for the tools and hardware sector. Organised by Koelnmesse in association with the Federation of Indian Export Organisations, it is intended to facilitate product discovery, sourcing activity and exploration of domestic and international markets. Its Reverse Buyer-Seller Meet will bring hosted international buyers together with Indian manufacturers and suppliers for direct discussions on product presentations, buyer requirements and export-market opportunities.
September 17, 2026
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Financial services technology interoperability drives new card, digital banking and UPI platforms for banks, fintechs and consumers.
86400 has expanded its financial-services technology portfolio through CardsXT as a Service, a UPI app experience and IBMB, extending its activities across card-programme infrastructure, consumer-facing digital payments and digital banking. CardsXT is intended to let banks and fintechs build, launch and manage card programmes through an integrated offering, with flexibility to develop and scale card products while reducing card-lifecycle technology complexity. The UPI app experience provides a platform developed by 86400 for a more seamless consumer UPI payments experience.
September 17, 2026
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Intergovernmental fiscal coordination will guide deliberations on macroeconomic priorities, agricultural transformation, energy transition, growth measurement, and technology-enabled governance.
The thematic programme covers the macroeconomic outlook, financing agricultural transformation, and financing the energy transition. Background material addresses macroeconomic pathways, private financing, implications of GST 2.0 for States, agricultural markets and marketing, agricultural resilience and sustainable resource use, renewable energy and transmission assets, and carbon capture, utilisation and storage. Further sessions address measurement of growth outcomes and the contribution of new-age technology to good governance.
September 17, 2026
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GST-compliant festive planning helps apparel businesses protect input tax credit, manage price thresholds, inventory, cash flow and peak-season operations.
GST-sensitive festive planning for apparel businesses requires early procurement, phased inventory, supplier reorder commitments and separate stock strategies for the post-Diwali wedding season. Pricing and costing require assessment of the revised GST structure for readymade garments and GST-rate reductions affecting man-made fibres and yarns. Proper purchase documentation is important for protecting input tax credit during high-volume festive transactions. Cash-flow planning, credit limits, return policies, retail staffing, digital campaigns and weekly sell-through monitoring support replenishment and pricing decisions.
September 17, 2026
Show AI Summary
Competitive Tender Conditions: allegations question replacement of a public-sector power project with terms allegedly favouring a single supplier.
Allegations of tender tailoring concern the replacement of a proposed UJVN-THDC public-sector thermal project with long-term procurement of 1,320 MW from a private generating plant. Congress alleges that 84 of 86 tender conditions were revised after the public-sector venture was abandoned, producing terms suited to an existing Korba expansion acquired by Adani Power through insolvency proceedings. The objections include plant-location flexibility, transmission costs for supply to Uttarakhand, and a 75% fixed-charge ceiling, which are alleged to narrow competition and shift long-term costs to consumers.

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Customs & Trade

HIGHLIGHTS AT 9 PM

April 21, 2025

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New Delhi, Apr 21 (PTI) Following are the top stories at 9 pm: NATION DEL98 PM-VANCE-LD TALKS

PM Modi holds talks with US Vice President Vance New Delhi: Prime Minister Narendra Modi on Monday held talks with US Vice President JD Vance against the backdrop of ongoing negotiations for a bilateral trade pact.

DEL46 PM-GOVERNANCE

'Nagrik Devo Bhava': PM Modi's good governance mantra to bureaucrats New Delhi: Prime Minister Narendra Modi on Monday asked civil servants to follow the principle of "Nagrik Devo Bhava" while redressal of issues of underprivileged people, and emphasised last-mile delivery to ensure inclusivity in development.

DEL27 JH-NAXALS-4TH LD KILLED

Eight Naxals killed in Jharkhand encounter New Delhi: Eight Naxals, including a top rung central committee member of the extremists carrying a bounty of Rs 1 crore on his head, were killed in an encounter with CoBRA commandos of the CRPF and police in Bokaro district of Jharkhand on Monday, officials said.

DEL100 CONG-LD HERALD

ED 'vendetta' at behest of 'political masters': Congress leaders hold pressers on Herald case New Delhi/Mumbai: Holding press conferences around the country, top Congress leaders on Monday launched a strong defence of Sonia Gandhi and Rahul Gandhi in the National Herald case, with former Union minister P Chidambaram alleging the ED was carrying out "vendetta" at the behest of its "political masters".

DEL71 JK-FLASH FLOODS-RAMBAN

About dozen villages severely hit by flash floods, landslides: Jammu divisional commissioner Ramban (J-K): The flash-floods and landslides triggered by heavy rain and cloudbursts severely affected nearly a dozen villages in Jammu and Kashmir's hilly Ramban district, a senior government officer said on Monday and added the authorities had mobilised resources to restore essential services and provide relief to the affected people.

CAL32 WB-SSC-LD PROTESTS

WB school job loss: Teachers on warpath after SSC fails to publish ‘deserving’ list within deadline Kolkata: Chaos erupted outside Acharya Sadan, the West Bengal School Service Commission (WBSSC) headquarters, on Monday evening after the recruitment body failed to release, by the 6 pm deadline set by the agitating teachers, the list of 2016 SSC qualifiers whose jobs were annulled by the Supreme Court.

MDS2 KA-EX-DGP-CHILLI

Ex-DGP murder case: Wife threw chilli powder before stabbing, say police Bengaluru: Police probing former Karnataka DGP Om Prakash's murder case have learnt that his wife Pallavi allegedly threw chilli powder on his face before stabbing him to death, police sources said.

LEGAL LGD42 SC-DEMOLITION

Demolition row: SC asks Rajasthan authority response on plea for contempt action New Delhi: The Supreme Court on Monday directed the Rajasthan authorities to respond to a plea for contempt action for allegedly razing a property in Jaisalmer in an illegal manner.

LGD36 SC-LD YEDDIYURAPPA

Corruption case: SC refers to larger bench issues over ex-CM B S Yediyurappa plea New Delhi: The Supreme Court on Monday referred to a larger bench the legal issues stemming from a plea of BJP leader B S Yediyurappa, including the question whether a prior sanction to prosecute is needed under the Prevention of Corruption Act after a magisterial court order of inquiry.

LGD35 DL-COURT-RANA FAMILY

2008 Mumbai attacks: Accused Tahawwur Rana wants to talk to family, moves court New Delhi: Jailed 26/11 Mumbai terror attacks accused Tahawwur Hussain Rana has moved a court seeking the permission to talk to his family members.

LGD25 SC-LD ALLAHBADIA

SC takes note of plea alleging Samay Raina ridiculed disabled New Delhi: In what could spell fresh trouble for "India's Got Latent" host Samay Raina, the Supreme Court on Monday said it would examine a plea alleging he ridiculed the disabled, including a person with visual disability and those suffering from a rare disorder like Spinal Muscular Atrophy (SMA).

FOREIGN FGN38 VATICAN-4THLD POPE FRANCIS

Pope Francis, Latin America's first pontiff who ministered with charm and humility, dies at 88 Vatican City: Pope Francis, history's first Latin American pontiff who charmed the world with his humility and concern for the poor but alienated conservatives over climate change and critiques of capitalism, died Monday. He was 88. (AP)

FGN45: BIZ-FM-TRADE PACT

India actively engaging with US; hopes to sign first phase of bilateral pact by Oct: FM San Francisco: Finance Minister Nirmala Sitharaman on Sunday said India is "actively engaging" with the new US administration and hopes to conclude the first tranche of the bilateral trade agreement "positively" by fall (September-October) this year.

FGN44: CHINA-TARIFFS-LD COUNTERMEASURES

China threatens to retaliate against countries striking trade deals with US at its expense Beijing: China on Monday threatened to impose countermeasures on countries seeking to strike trade deals with the US at its expense in order to get American tariff exemptions.

PTI HIG HIG

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