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September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
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.

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September 2, 2025

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New Delhi, Sep 2 (PTI) Following are the top stories at 9 pm: NATION CAL53 BH-PM-2NDLDALL MOTHER

I may forgive RJD-Cong but people of Bihar won't pardon them for insulting my dead mother: PM Patna: In his first reaction to the alleged abuses hurled at his mother during the 'Voter Adhikar Yatra' in Bihar, Prime Minister Narendra Modi on Tuesday said he was "deeply pained" by the incident, but asserted that while he might forgive the RJD and the Congress, the people of the state will never "pardon them".

DEL61 DL-KHERA-2NDLD NOTICE

Poll body's notice to Cong's Pawan Khera for name in 2 constituencies of Delhi New Delhi: Poll authorities in Delhi have issued a notice to Congress leader Pawan Khera for allegedly getting himself registered in the electoral roll of more than one constituency.

DEL75 BJP-CONG-KHERA-2NDLD VOTE THEFT

Cong is 'quintessential vote chor', alleges BJP; raises issue of Pawan Khera's 2 voter IDs New Delhi: The BJP on Tuesday alleged that Congress leader Pawan Khera had two voter IDs and Rahul Gandhi was running a campaign against voter-roll revision in Bihar to "protect and hide" his party's theft of votes.

DEL76 KHERA-BJP-LD EC

BJP conceded that EC failed to maintain integrity of electoral rolls: Khera on 2-voter cards charge New Delhi: Congress leader Pawan Khera hit back at the BJP on Tuesday after it alleged that he has two voter IDs, saying in a bid to target him and his party, it has ended up targeting the Election Commission (EC) and left the poll body "bleeding".

DEL73 HP-2NDLD WEATHER

Rains batter Himachal: 2 dead in house collapse, 1,337 roads closed, schools shut in Shimla Shimla: Two women were killed in house collapse incidents as torrential rains triggered landslides and flash floods across Himachal Pradesh on Tuesday, blocking 1,337 roads, including four national highways, officials said.

DEL71 INDIA-PAK-FLOOD ALERT

India warns Pakistan of likely flooding in Sutlej amid heavy rains: Sources New Delhi: India has warned Pakistan about the "high probability" of flooding in the Sutlej river, with incessant rainfall in the northern states forcing the release of excess water from major dams, sources said on Tuesday.

BOM50 MH-QUOTA-3RD LD JARANGE

We have won, says Jarange as govt accepts most of his demands on day 5 of fast; 'will leave Mumbai' Mumbai: Activist Manoj Jarange on Tuesday declared victory on the fifth day of his fast after the Maharashtra government's cabinet sub-committee on Maratha quota accepted most of his demands, including giving Kunbi caste certificates to eligible Marathas.

BOM67 MP-HOSPITAL-LD RATS

After rats gnaw on 2 newborns in MP hospital, 1 baby dies of pneumonia; action against 3 staffers Indore: After rats gnawed on two newborn babies at the government-run Maharaja Yashwantrao Hospital (MYH) in Madhya Pradesh's Indore, one of these two infants - a girl - died of pneumonia on Tuesday, an official said.

BUSINESS DEL74 BIZ-4THLD-INDIA-US-TRADE

India hopeful of concluding trade pact with US by 'Nov or so': Piyush Goyal New Delhi: Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year.

DEL62 BIZ-LD INDIA-US-WTO-COPPER

India seeks WTO consultations with US over 50 pc duty on copper New Delhi: India on Tuesday sought consultations with the US under the World Trade Organisation's (WTO) safeguard agreement over 50 per cent tariffs imposed on certain copper products by America.

DEL54 BIZ-LD GOYAL-AI

AI big opportunity; going to increase jobs: Goyal New Delhi: Commerce and Industry Minister Piyush Goyal on Tuesday said Artificial Intelligence (AI) offers huge opportunities, and it is only going to increase jobs in the country.

DEL52 BIZ-FINMIN-BUDGET

Finance ministry to kick-start FY27 Budget making exercise from October 9 New Delhi: The finance ministry will kick-start the exercise to prepare the annual budget for 2026-27 from October 9 in the backdrop of geopolitical uncertainties and the steep US tariff of 50 per cent imposed on shipments from India.

LEGAL LGD29 DL-HC-3RDLD RIOTS-BAIL ORDER

Feb 2020 riots bail verdict: Conspiratorial violence under garb of protest not allowed, says HC New Delhi: Denying bail to nine persons including Umar Khalid and Sharjeel Imam in the "larger conspiracy" case of February 2020 riots, the Delhi High Court on Tuesday ruled "conspiratorial" violence under the garb of demonstrations or protests by citizens cannot be allowed.

LGD26 DL-HC-2NDLD RIOTS-BAIL ORDER

2020 riots: Delhi HC denies bail to Sharjeel Imam, Umar Khalid, 8 others New Delhi: Activists Umar Khalid, Sharjeel Imam and eight others, who are behind bars for last five years, were on Tuesday denied bail by the Delhi High Court in an anti-terror law case linked to the alleged conspiracy behind the February 2020 riots in the national capital.

LGD25 SC-ASSENT-LD BILLS

Prez reference: Court can't refuse to answer constitutional question even if row political, says SC New Delhi: The Supreme Court on Tuesday said the power of judicial review forms part of the basic structure and courts cannot decline an answer to constitutional questions even if the controversy was political in nature.

LGD22 HR-COURT-YOUTUBER

Espionage case: Court extends YouTuber Jyoti Malhotra's judicial custody till Sep 10 Hisar: A court here on Tuesday extended till September 10 the judicial custody of YouTuber Jyoti Malhotra who was arrested in May on suspicion of espionage.

FOREIGN FGN44 US-BOLTON-INDIA-TRUMP

Trump sent India back toward Russia, closer to China, 'shredded' decades of efforts: US' former NSA New York: President Donald Trump has “shredded” decades of Western efforts to wean India away from Russia and caution it on the threat posed by China, US' former National Security Adviser John Bolton has said, noting that the American leader's tariff policies and claims of ending the recent India-Pakistan military conflict worsened the situation. By Yoshita Singh

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