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    September 1, 2026
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September 1, 2026
DRI seizes over 42 kg foreign-origin gold worth more than RS. 65 crore in crackdown on gold smuggling
Show AI Summary
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.
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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.
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Show AI Summary
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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.
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Show AI Summary
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.
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Show AI Summary
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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.
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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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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.
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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.
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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.
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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.
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
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PMLA, Black Money & ED

Financial Intelligence Unit (FIU IND) issues notices for non-compliance to 25 offshore Virtual Digital Assets Service providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act (PML) Act, 2002

October 1, 2025

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As part of recent part of compliance action against the such entities, Financial Intelligence Unit India (FIU IND) has issued notices for non-compliance to the following 25 offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering (PML) Act, 2002:

S. No

Name of the Offshore VDA service provider

Name and address details

1

Huione

Huione Group

Haowang Guarantee (Formerly Known as Huione Guarantee) ;

 Huione Pay PLC; and

 Huione Crypto

– 62, Norodom Blvd, Phnom Penh, Cambodia

2

BC.game

BlockDance B.V.- 158182, located at Emancipatie Boulevard Dominico F. "Don" Martina 31, Curaçao)

3

Paxful

Paxful Inc. - 3422 Old Capitol Trail, PMP #989, Wilmington, Delaware, 19808, United States

4

Changelly

Changelly Ltd - 18/F East Town, No.41 Lockhart Road, Wan Chai, Hong Kong.

5

CEX.IO

CEX.IO Ltd - 100 SE 2nd St, Suite 3852 Miami, Florida, 33131, USA

CEX.IO Ltd-2nd Floor, 1-5 Clerkenwell Road, London, EC1M 5PA, United Kingdom,

6

LBank

LBK Blockchain Co. Limited - Meadow House, P.O. Box 116, Road Town, Tortola, British Virgin Islands

7

Youhodler

YouHodler SA - St. Vincent and the Grenadines, specifically at Hinds Building, Kingstown / Lausanne, Switzerland. Specifically, it's located at Avenue du Théâtre 7, Lausanne, 1005

8

BingX

BingX Limited - Johnson's Ghut, Road Town, British Virgin Islands

9

PrimeXBT

PrimeXBT Trading Services LLC - 1st Floor, Meridian Place Choc Estate, Castries, Saint Lucia

10

BTCC

BTCC UK Limited - Wisteria Grange Barn, Pikes End, Pinner, London, HA5 2EX, England, UK

11

Coinex

CoinEx Exchange - Unit 3A, 12/F, Kaiser Centre, No. 18 Centre Street, Sai Ying Pun, Hong Kong

12

Remitano

Babylon Solutions Limited - 391A Orchard Road #12-02 Ngee Ann City, Singapore

13

Poloniex

Polo Digital Assets Ltd - 99 High Street, Suite 1701, Boston, MA 02110

14

BitMex

HDR Global Trading Ltd - Global Gateway 8, Rue de la Perle, Providence Mahé, Seychelles

15

Bitrue

Bitrue Ltd - Centro Bianco, 73 Upper Paya Lebar Road, Suite 06-01C, Singapore, 534818

16

LCX

LCX AG - Herrengasse 6, 9490 Vaduz, Liechtenstein

17

Probit Global

ProBit Global Services Limited - Suite 9, Ansuya Estate, Revolution Avenue, Victoria, Mahé, Seychelles

18

BTSE

BTSE Holdings Limited - V. Nagevidiaus g. 3, Vilnius, Lithuania

Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands.

19

HIT BTC

Hit Solution Limited - Unit 19, 7/F., One Midtown No.11 Hoi Shing Road, Tsuen Wan Hong Kong

20

LocalCoinSwap

LocalCoinSwap - Wan Chai, Hong Kong Island, Hong Kong

21

AscendEx

AscendEX Ltd - 114 Lavender Street, #09-88, Court Hub 2, Singapore

22

Phemex

PMX International Limited - 1 Irving Place, #08-11, The Commerze@Irving, Singapore

23

ZooMex

Zoomex Pte Ltd - Vistra Cayman Trust Limited, Grand Pavilion, Hibiscus Way, 802 West Bay Road, Cayman Islands

24

CoinCola

CoinCola Limited - Rm D 16/F One Capital Place 18 Luard RD,Hong Kong

25

CoinW

CoinW Pte Ltd.- 33 UBI Avenue 3 #08-43 Vertex, Singapore

Further, the Director FIU IND, in exercise of powers under Section 79(3)(b) of the Information Technology Act, 2000, has also issued notices to the aforesaid entities with respect to takedown of the application/URLs for public access which have been found to be operating illegally without complying with the relevant provisions of the PML Act, 2002 in India.

Till date 50 VDA SPs have registered with FIU IND. However, from time to time the entities which are catering to Indian users but not getting registered and thus remain outside the AML/CFT framework are identified by the FIU IND.

Virtual Digital Assets Service Providers (VDA SPs) were brought into the ambit of Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) framework under the provisions of the Prevention of Money Laundering Act (PML) Act, 2002 in March 2023.

The Virtual Digital Asset Service Providers (VDA SPs) operating in India (whether offshore or onshore) and engaged in activities like exchange between virtual digital assets and fiat currencies, transfer of virtual digital assets, safekeeping or administration of virtual digital assets or instruments enabling control over virtual digital assets etc. are required to be registered with FIU IND as Reporting Entity and comply with the set of obligations as mandated under Prevention of Money Laundering Act (PMLA) 2002. These obligations are activity-based and are not contingent on physical presence of the entity in India. The regulation casts reporting, record keeping, and other obligations on the VDA SPs under the PML Act which also includes registration with the FIU IND.

It must be mentioned that the Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

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