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    NCLT fails to arrive majority decision on Subhash Chandra's Rs 6.5 cr repayment plan
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August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
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Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
Synthetic-drug trafficking enforcement involved two intelligence-led railway-station operations targeting amphetamine and MDMA transportation and receipt. Baggage intercepted at Bengaluru contained a crystalline substance preliminarily indicating amphetamine, while a separate Pune interception recovered substances purported to be amphetamine and MDMA tablets. The contraband and related packing material were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Follow-up delivery action identified alleged receivers, and the carriers and alleged receivers were arrested under that statutory framework.
August 31, 2026
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India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
India-Chile CEPA negotiations are being advanced toward conclusion by the end of the year through a balanced and commercially meaningful framework. The proposed partnership is intended to strengthen bilateral economic ties, expand trade and investment, and create equitable opportunities for businesses and people in both countries. Cooperation is envisaged in technology, talent and resilient supply chains, alongside enhanced engagement in healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.

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One-Day Workshop on “Capacity Building of Coastal States on Development of Ocean Accounts” held on August 29, 2025 in Kochi, Kerala

August 30, 2025

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The Ministry of Statistics and Programme Implementation (MoSPI), Government of India, in collaboration with the Directorate of Economics and Statistics (DES), Government of Kerala, organised a one-day workshop on Capacity Building of Coastal States on Development of Ocean Accounts” in Kochi, Kerala on 29th August 2025. The workshop brought together officers from Ministry of Earth Sciences, Directorates of Economics and Statistics, coastal States/UTs, members of the Expert Group on Ocean Ecosystem Accounts, experts from Central Marine Fisheries Research Institute, Indian National Centre for Ocean Information Services, National Remote Sensing Centre, National Centre for Coastal Research, Centre for Marine Living Resources & Ecology, and Indian Maritime University.

Delivering the Welcome Address, Shri Subash Chandra Malik, Additional Director General (SSD), MoSPI, extended a warm welcome to all participants and underscored the workshop’s role for improving the process of compiling Ocean Accounts in line with the SEEA framework.

In his Keynote Address, Shri N.K. Santoshi, Director General (Central Statistics), MoSPI, underscored the Ministry’s commitment to enriching India’s economic indicators by integrating Ocean Ecosystem Accounts alongside traditional measures. He highlighted how these accounts complement GDP by illuminating the dynamics of our marine resources-tracking the extent, condition, services, and assets of coastal ecosystems.

In his Inaugural Address, Dr. Saurabh Garg, Secretary, MoSPI, emphasized the urgent need to incorporate ocean ecosystem data into India’s national accounting systems, in alignment with the upcoming UN System of National Accounts (SNA-2025), which stresses accountability for natural assets like oceans, water and forests. He noted that such integration enhances transparency in GDP estimates, promotes fair distribution of ecosystem benefits, and strengthens data-driven policymaking for disaster risk reduction and sustainable development. He placed special emphasis on global initiatives:

  • The Chennai High-Level Principles for Sustainable Blue Economy-adopted during India’s G-20 presidency in 2023-serve as an international framework to promote ocean conservation, resilience, and responsible economic growth based on marine resources.
  • SDG 14: Life Below Water is central to the agenda, aiming to protect oceans and marine resources through sustainable management, pollution reduction, biodiversity conservation, and climate change adaptation, key for the well-being of millions and the health of the planet.
  • The Blue Economy Policy of the Ministry of Earth Sciences, highlighting seven thematic areas, was referenced as a foundation for effective ocean accounts and sustainable marine planning.

Dr. Garg also commended Kerala’s Directorate of Economics and Statistics for its large and skilled workforce, urging cross-state learning and the vital role of robust statistics for India’s goal of becoming a developed nation by 2047 (Viksit Bharat). He reinforced the ministry’s support for coastal states and underlined the need for evidence-based decision-making not just in ocean accounts, but across all sectors- so that India’s development rests solidly on reliable, up-to-date data.

Delivering the Vote of Thanks, Sri. G.S. Rajath, Director, DES, Kerala, expressed gratitude to the Secretary MoSPI, Expert Group members, partner institutions, and officers from coastal States/UTs. He acknowledged their valuable contributions and reiterated that the success of ocean accounting depends on translating discussions into concrete action at the sub-national level.

The workshop featured two Technical Sessions. The following expert presented their views on the concept related to ocean accounting:

Ms. Anita Baghel, Deputy Director General (DDG), SSD, MoSPI gave an overview of the System of Environmental Accounting (SEEA) and Ocean Accounting frameworks and highlighted MoSPI’s initiatives and progress towards environmental accounting SEEA and Ocean Accounting in India.

Dr. Aswathy. N, Principal Scientist, Central Marine Fisheries Research Institute (CMFRI), Kochi presented on Using Fisheries Data for Ocean Accounting Challenges and Opportunities, Evolving data and Technological advancements in fisheries data collection.  Dr. Venkat Shesu Reddem, Scientist-F, Indian National Centre for Ocean Information Services (INCOIS), Hyderabad suggested for ocean condition accounts with the standardization and normalisation with other parameters of ocean ecosystem accounting. Dr. P V Nagamani, Group Head, Ocean Sciences Group, National Remote Sensing Centre (NRSC), Hyderabad, presented on Satellite Remote Sensing plays a vital role in Ocean Accounting. Remote Sensing and Geospatial Technologies together can provide more robust and effective tools / solutions for Ocean Accounts.

From National Centre for Coastal Research (NCCR), Chennai Dr. U.S. Panda, Scientist-F, told that, NCCR along with world bank has prepared a preliminary Ocean Accounts for Tamil Nadu state informed that as per their estimation Ocean Natural Accounts approximately has 1% share (Rs 43000 cr) of Tamil Nadu GSDP.  Dr. Smitha B.R., Scientist-E, Centre for Marine Living Resources & Ecology (CMLRE), Kochi, presented on Climate Change and Ocean Accounting: Assessing Impacts on Marine Living Resources. She mentioned that Ocean Accounting is vital to track the health of the marine ecosystems, variation in the resource potential, ecosystem services, and resilience of marine ecosystems. Dr. KVK Rama Krishna Patnaik, Faculty, Physical, Oceanography, Indian Maritime University, Visakhapatnam spoken about the innovative methods in modern Oceanography, highlighted the need for sustainable ocean development through proper data collection methods. He emphasised that the ocean energy is one of the important sector of blue economy which need immediate focus.

The day ended with the development of a roadmap aimed at strengthening institutional coordination, building state-level capacity, and creating credible, policy-relevant ocean accounts. The workshop reaffirmed MoSPI’s commitment to work closely with States/UTs, line ministries, and scientific institutions to establish a national framework of Ocean Accounts, thereby advancing India’s vision to sustainable ocean governance.

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