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September 1, 2026
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Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
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.

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Customs & Trade

Trump flies in for UK state visit where trade, tech talks mix with royal pomp

September 16, 2025

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London, Sep 16 (AP) US President Donald Trump arrives in the United Kingdom on Tuesday for a state visit during which the British government hopes a multibillion-dollar technology deal will show the transatlantic bond remains strong despite differences over Ukraine, the Middle East and the future of the Western alliance.

State visits in Britain blend 21st-century diplomacy with royal pageantry. Trump's two-day trip comes complete with horse-drawn carriages, military honour guards and a glittering banquet inside a 1,000-year-old castle — all tailored to a president with a fondness for gilded splendour.

King Charles III will host Trump at Windsor Castle before the president holds talks with Prime Minister Keir Starmer at Chequers, the British leader's rural retreat.

Starmer's office said the visit will demonstrate that “the UK-US relationship is the strongest in the world, built on 250 years of history” — after that awkward rupture in 1776 — and bound by shared values of “belief in the rule of law and open markets.” There was no mention of Trump's market-crimping fondness for sweeping tariffs.

The White House expects the two countries will strengthen their relationship during the trip as well as celebrate the upcoming 250th anniversary of the founding of the United States, according to a senior White House official who was not authorised to speak publicly and spoke on condition of anonymity. It was not clear how the UK was planning to mark that chapter in their shared history.

“The trip to the UK is going to be incredible," Trump told reporters on Sunday. He said Windsor Castle is “supposed to be amazing” and added: “It's going to be very exciting.” Trump's second state visit Trump is the first US president to get a second state visit to the UK.

The unprecedented nature of the invitation, along with the expectation of lavish pomp and pageantry, holds dual appeal to Trump. The president has glowingly praised the king's late mother, Queen Elizabeth II, and spoken about how his own Scotland-born mother loved the queen and the monarchy.

The president is also royally flattered by exceptional attention and has embraced the grandeur of his office in his second term. He has adorned the normally more austere Oval Office with gold accents, is constructing an expansive ballroom at the White House and has sought to refurbish other Washington buildings to his liking.

Foreign officials have shown they're attuned to his tastes. During a visit to the Middle East this year, leaders of Saudi Arabia and Qatar didn't just roll out a red carpet but dispatched fighter jets to escort Trump's plane.

Starmer has already shown he's adept at charming Trump. Visiting Washington in February, he noted the president's Oval Office decorating choices and decision to display a bust of Winston Churchill. During Trump's private trip to Scotland in July, Starmer visited and praised Trump's golf courses.

Efforts to woo the president make some members of Starmer's Labour Party uneasy, and Trump will not address Parliament during his visit, like French President Emmanuel Macron did in July. Lawmakers will be on their annual autumn recess, sparing the government an awkward decision.

The itinerary in Windsor and at Chequers, both well outside London, also keeps Trump away from a planned mass protest against his visit.

Troubles for Starmer Preparations for the visit have been ruffled by political turmoil in Starmer's centre-left government. Last week, Starmer sacked Britain's ambassador to Washington, Peter Mandelson, over his past friendship with convicted sex offender Jeffrey Epstein.

Mandelson had good relations with the Trump administration and played a key role in securing a UK-US trade agreement in May. His firing has put Epstein back in British headlines as Trump tries to swerve questions about his own relationship with the disgraced financier.

Mandelson's exit came just a week after Deputy Prime Minister Angela Rayner quit over a tax error on a home purchase. Fourteen months after winning a landslide election victory, Starmer's position is fragile and his poll ratings are in the dumps.

But he has found a somewhat unexpected supporter in Trump, who in June said that Starmer is a friend, despite being “slightly more liberal than I am.” Starmer's government has cultivated that warmth and tried to use it to get favourable trade terms with the US, the UK's largest single economic partner, accounting for 18 per cent of total British trade.

The May trade agreement reduces US tariffs on Britain's key auto and aerospace industries. But a final deal has not been reached over other sectors, including pharmaceuticals, steel and aluminum.

Labour lawmaker Liam Byrne, who heads the House of Commons' Business and Trade Committee, said it's vital “to turn paper promises into a binding bargain that ends the tariff tempest that is battering British exporters and investors.” Nvidia chief executive Jensen Huang and OpenAI CEO Sam Altman are expected to be among the business leaders in the US delegation. Trump and Starmer are set to sign a technology partnership – which Mandelson was key to striking – accompanied by major investments in nuclear energy, life sciences and Artificial Intelligence data centres.

The leaders are also expected to sign nuclear energy deals, expand cooperation in regards to their nations' defence technology and explore ways to bolster ties between their financial hubs, according to the White House official.

Ukraine on the agenda Starmer has also tried to use his influence to maintain US support for Ukraine, with limited results. Trump has expressed frustration with Russian President Vladimir Putin but has not made good on threats to impose new sanctions on Russia for shunning peace negotiations.

Last week's Russian drone incursion into NATO member Poland drew strong condemnation from European NATO allies, and pledges of more planes and troops for the bloc's eastern flank. Trump played down the incident's severity, musing that it “ could have been a mistake. ” Starmer also departs from Trump over Israel's war in Gaza, and has said the UK will formally recognise a Palestinian state at the United Nations later this month. (AP) GRS GRS

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