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    CBI FIR against Subhash Chandra for 'inflation' of net worth to secure nearly Rs 1,000-cr in loans
    Union Minister of Commerce & Industry Shri Piyush Goyal Calls for Nationwide FTA Utilisation Drive to Expand India’s Global Trade Footprint
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September 5, 2026
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Alleged inflation of personal net worth underpins fraud and breach-of-trust accusations over secured corporate lending.
CBI registration of an FIR concerns allegations that inflated personal net-worth certificates were used to secure corporate loan facilities from Life Insurance Corporation Housing Finance Ltd. The lender alleges that the certificates influenced lending decisions, the facilities subsequently defaulted, and later insolvency proceedings disclosed inconsistency between the represented and asserted net-worth figures. Allegations include collusion with borrower entities, false documentation, cheating, misappropriation of loan funds, and breach of lender trust.
September 5, 2026
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Free trade agreement utilisation requires district-level exporter support, rules-of-origin assistance, standards compliance, and coordinated market-access outreach nationwide.
Free Trade Agreement utilisation is to be advanced through coordinated action by central and state governments, sectoral ministries, Export Promotion Councils, industry associations and local export-support institutions. Preferential treatment is assessed against tariff rates faced by competing countries, while export competitiveness depends on scale, quality, customer trust and timely delivery. The Export Promotion Mission supports export credit, digitised compliance and FTA documentation, including rules-of-origin certification. District-level identification of products, clusters, new exporters and practical constraints, supported by workshops and rapid online facilitation, is intended to deepen market access.
September 5, 2026
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Automotive localisation and export competitiveness are prioritised through global-standard manufacturing, technology partnerships, sustainable mobility, and government infrastructure support.
Automotive-sector localisation, export expansion and global-standard manufacturing are prioritised to strengthen India's role in global production and trade. Companies are urged to invest in technology, innovation, research and development, use domestic scale for overseas markets, and avoid supplying inferior products domestically. Trade agreements are positioned as channels for market access, technology absorption and exports. Greater indigenisation is encouraged through component localisation, technology collaborations and expanded exports, supported by critical minerals, batteries, indigenous energy sources, research funding, plug-and-play infrastructure and industrial ecosystems.
September 5, 2026
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Circular textile procurement integrates certification, product categories and seller support to expand government markets for recycled materials.
Memorandum of Understanding for circular textile procurement links certification, standardisation and public-market access for recycled and upcycled products made from textile waste, scrap and second-hand clothes. The Textiles Committee will identify, verify, certify and recognise eligible producers and support specifications, catalogues and capacity building. Government e Marketplace will create dedicated product categories, onboard sellers, facilitate online market linkages, promote products to government buyers, and provide training and handholding to recyclers and upcyclers.
September 5, 2026
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India-EU Free Trade Agreement promotes tariff reduction, market access, investment resilience, and India-Belgium industrial and skills cooperation.
India-EU Free Trade Agreement is presented as reducing or removing tariffs on more than 95 per cent of Indian and European goods exports while protecting sensitive sectors on both sides. It is intended to expand trade, investment and economic resilience, with the Port of Antwerp-Bruges serving as a major gateway for Indian exports into European markets. India-Belgium cooperation is identified in gems and jewellery, semiconductors, green hydrogen, advanced manufacturing, agriculture and food processing, supported by mutual recognition, workforce mobility, skills development and technology collaboration.
September 5, 2026
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MSME compliance capacity-building programme launches structured learning and workplace training to develop certified paraprofessional support.
Corporate Mitra Course has commenced to develop trained and certified paraprofessionals capable of providing affordable business and regulatory compliance support to Micro, Small and Medium Enterprises. The 12-month programme includes six months of structured academic learning and six months of on-the-job training in professional firms. Its digital learning system offers recorded lectures, reference materials, assessments and learner-support facilities. The programme aims to strengthen MSME formalisation, ease of doing business, trust, transparency, accountability and orderly growth.
September 5, 2026
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Audit quality advisory committee broadens expert input on assurance, technology, and stakeholder perspectives in oversight.
NFRA has constituted an Advisory Committee on Audit Quality, Assurance and Technology under Rules 15 and 16 of the National Financial Reporting Authority Rules, 2018. The Committee will provide expert inputs and suggestions on matters significantly affecting audit quality, while supporting functions relating to awareness of auditing and accounting standards. Its members represent professionals, chief financial officers, audit committees, independent directors, technology experts, regulators and industry.
September 4, 2026
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Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
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Money-laundering allegations: discharge plea attributes airline's financial collapse to macroeconomic conditions and denies loan siphoning through sales agents.
Money-laundering proceedings arising from alleged bank fraud concern claims that loans advanced to an airline were siphoned off. The discharge application attributes the airline's financial collapse to adverse macroeconomic conditions rather than fraudulent conduct or laundering, denies diversion through General Sales Agents, and maintains that related payments were board-approved and disclosed. It also contests the treatment of the bank's outstanding claim as funds received by the founder, while the investigating agency alleges systemic fraud, loan diversion and laundering.
September 4, 2026
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Foreign exchange market conditions supported rupee appreciation, while oil prices and geopolitical tensions limited potential gains.
Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
September 4, 2026
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Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
September 4, 2026
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Equity market resilience was tempered by profit booking, geopolitical tensions, global rate expectations and domestic liquidity.
Equity markets registered a recovery after four consecutive losing sessions, led by buying in metal, private banking, oil and gas, housing finance, telecommunication, insurance, commodities and financial services shares. The benchmark equity index closed higher, while the broader index recorded a modest gain after retreating from an intraday level above the psychological threshold during the newly introduced Closing Auction Session. Investor sentiment was supported by easing interest-rate concerns, strong earnings momentum, resilient economic growth and domestic demand, but was constrained by profit booking, geopolitical tensions and crude-oil price risks.
September 4, 2026
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Forex reserve management reflects rising foreign currency assets and gold holdings, alongside marginal declines in SDRs and IMF reserve position.
India's foreign exchange reserves increased to a fresh all-time high, supported principally by higher foreign currency assets and gold reserves. Reserve accumulation has continued after concessional foreign-exchange swap initiatives introduced amid local-currency depreciation. Foreign currency assets, expressed in United States dollar terms, also reflect valuation effects from movements in currencies such as the euro, pound and yen. Special drawing rights and the reserve position with the International Monetary Fund declined marginally.
September 4, 2026
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IPO regulatory clearance enables further public issue preparations, with existing shareholders proposing a complete offer for sale.
SEBI's final observations on the proposed initial public offering enable the National Stock Exchange to undertake further public-issue preparations, subject to applicable regulatory requirements. The proposed issue is structured entirely as an offer for sale, under which existing shareholders would divest a portion of their holdings rather than the exchange issuing new shares. The draft red herring prospectus contemplates sale of 14.89 crore shares, representing nearly 6 per cent of the exchange's stake.
September 4, 2026
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Personal security frameworks evolved from elite guards into intelligence-led protection systems, while VIP culture can distort their necessity.
Personal security evolved from elite guards into structured systems combining physical protection, intelligence, technology and specialised protocols. Prime Ministerial security in India was reorganised after the 1984 assassination of Prime Minister Indira Gandhi by her bodyguards. A commission recommended a single protective agency, leading to the formation of the Special Protection Group in 1985. Statutory parameters introduced in 1988 sought to rationalise and scientifically streamline protection arrangements. Advanced technology, training, intelligence and protocols do not eliminate personal-protection vulnerabilities, and security is characterised as a necessity rather than a status symbol.
September 4, 2026
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Rupee exchange-rate movement reflects foreign-currency deposit inflows, central-bank intervention, oil-price risks and changing market risk appetite.
Foreign-exchange liquidity measures, including a special central-bank programme for foreign-currency deposits, generated substantial inflows that supported the rupee. Inflows from foreign-currency deposits, overseas foreign-currency borrowings and external commercial borrowings strengthened market conditions. Rupee appreciation was also supported by foreign equity inflows and risk appetite, but remained vulnerable to higher crude-oil prices, US-Iran tensions, safe-haven demand for the US dollar and possible disruption to oil flows through the Strait of Hormuz.
September 3, 2026
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Trade agreement consultations safeguard farmer, worker, MSME and sectoral sensitivities while phased bilateral tariff negotiations continue.
India-US bilateral trade agreement negotiations are being pursued on the stated basis that Indian sensitivities will not be compromised. The agreement's text remains non-public, while the government position identifies farmers, fishers, micro, small and medium enterprises, workers, handloom and handicrafts sectors, and the automobile industry as protected considerations. The arrangement is described as a first tranche, with further engagement contemplated following changes in the United States tariff landscape.
September 3, 2026
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Unauthorised toll collection apps allegedly generated fake receipts, concealed non-FASTag collections, and triggered a money-laundering investigation.
Unauthorised digital applications allegedly enabled toll collection from vehicles without FASTag stickers outside the official reporting system. Mobdata and Any were allegedly used to generate unauthorised or fake toll receipts, conceal collections from NHAI, and monitor such collections through dedicated portals. A PMLA investigation followed an FIR alleging fraudulent toll collection, with digital forensic material indicating use of the mechanism across around 100 toll plazas. Searches resulted in seizure of financial and digital records and freezing of bank accounts.
September 3, 2026
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Economic offence investigations: cross-border training strengthens officers' practical skills in investigation, prosecution, procedures, and handling complex financial crimes.
Capacity-building training under the Indian Technical and Economic Cooperation programme equipped officers from member countries with practical skills for investigating economic offences. It covered varied forms of financial and economic crime, cross-border impact, challenges in investigation and prosecution, standard operating procedures, and investigative best practices. The specialised law-enforcement engagement aims to strengthen international cooperation and investigative capacity in economic-offence matters.
September 3, 2026
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Unauthorised Aadhaar credential use triggers blacklisting and procurement debarment following alleged post-termination enrolment and update transactions.
Alleged unauthorised use of Aadhaar Registrar/EA Code credentials after termination of an operational engagement led the Delhi Construction and Other Workers Welfare Board to blacklist MDS Solution Pvt Ltd. UIDAI communication indicated that Aadhaar-related activity allegedly continued after cancellation through the Board's credentials. The Board lodged a police complaint, barred the firm from its tenders, procurement processes, empanelment and contract awards, and recommended consideration of action under applicable rules and policies.

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Customs & Trade

New Supreme Court term confronts justices with Trump's aggressive assertion of presidential power

October 5, 2025

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Washington, Oct 5 (AP) A monumental Supreme Court term begins Monday with major tests of presidential power on the agenda along with pivotal cases on voting and the rights of LGBTQ people.

The court's conservative majority has so far been receptive, at least in preliminary rulings, to many of President Donald Trump's aggressive assertions of authority. Liberal Justice Ketanji Brown Jackson invoked the Calvin and Hobbes comic strip after one such decision allowing the cut of USD 783 million in research funding.

"This is Calvinball jurisprudence with a twist,” Jackson wrote. “Calvinball has only one rule: There are no fixed rules. We seem to have two: that one, and this administration always wins.” The conservative justices could be more sceptical when they conduct an in-depth examination of some Trump policies, including the president's imposition of tariffs and his desired restrictions on birthright citizenship.

If the same conservative-liberal split that has marked so many of Trump's emergency appeals endures, "we are in for one of the most polarising terms yet,” said Irv Gornstein, executive director of the Supreme Court Institute at Georgetown University's law school.

The justices will pass judgment in the next 10 months on some of Trump's most controversial efforts.

Three major cases on presidential power are on the docket The justices are hearing a pivotal case for Trump's economic agenda in early November as they consider the legality of many of his sweeping tariffs. Two lower courts have found the Republican president does not have the power to unilaterally impose wide-ranging tariffs under an emergency powers law.

States and small businesses argue Trump cannot usurp Congress' taxation powers by declaring national emergencies and using tariffs to address them.

The administration, though, says the law does give the president the power to regulate importation, and that includes tariffs. Four dissenting judges on a federal appeals court in Washington bought that argument, mapping out a possible legal path at the high court.

In December, the justices will take up Trump's power to fire independent agency members at will, a case that probably will lead the court to overturn, or drastically narrow, a 90-year-old decision. It required a cause, like neglect of duty, before a president could remove the Senate-confirmed officials from their jobs.

The outcome appears to be in little doubt because the conservatives have allowed the firings to take effect while the case plays out, even after lower-court judges found the firings illegal. The three liberal justices have dissented each time.

Another case that has arrived at the court but has yet to be considered involves Trump's executive order denying birthright citizenship to children born in the United States to parents who are in the country illegally or temporarily.

The administration has appealed lower-court rulings blocking the order as unconstitutional, or likely so, flouting more than 125 years of general understanding and an 1898 Supreme Court ruling. The case could be argued in the late winter or early spring.

The court could hand Republicans significant victories on voting rights and campaign finance The future of electoral districts with majorities of Black, Hispanic or Native American voters hangs in the balance in a case about congressional redistricting in Louisiana that will be argued in mid-October.

The Republican-led state has abandoned its defence of a political map that elected two Black members of Congress. Instead, Louisiana wants the court to reject any consideration of race in redistricting in a case that could bring major changes to the Voting Rights Act.

Chief Justice John Roberts and the other five conservative justices have been sceptical of the consideration of race in public life, including a decision in 2023 that ended affirmative action in college admissions.

Louisiana's position would allow it and other Republican-controlled states in the South to draw new political maps that eliminate virtually all majority Black House districts, which have been Democratic strongholds, voting rights experts say.

The justices failed to decide the case in June after hearing arguments during its last term. The court does not need to go as far as Louisiana wants to reject the congressional map.

But a second round of arguments is a rare occurrence at the Supreme Court, and sometimes presages a major change by the justices. The Citizens United decision in 2010 that led to dramatic increases in independent spending in US elections came after it was argued a second time.

Republicans, including the Trump administration, also are behind a drive to wipe away limits on how much political parties can spend in coordination with candidates for Congress and president.

The justices are reviewing an appellate ruling that upheld a provision of federal election law that is more than 50 years old. Democrats had asked the court to leave the law in place, and the Supreme Court upheld it in 2001.

But Roberts, who just marked his 20th anniversary as chief justice, has led a court that has struck down one campaign finance regulation after another.

No date for arguments has been set.

Transgender women and girls face a test over their participation on school sports teams More than two dozen states have enacted laws barring transgender women and girls from participating in certain sports competitions.

The justices are hearing cases from Idaho and West Virginia, where transgender athletes won lower court rulings.

The Supreme Court in June upheld a ban on gender-affirming care for transgender youth, but pointedly did not decide any broader issues about transgender rights.

They quickly agreed to take up the state appeals, which raised questions under the Constitution's guarantee of equal treatment and the federal law known as Title IX that dramatically expanded the participation of girls and women in sports in public schools and colleges.

The court has yet to set an argument date.

Justice Samuel Alito is most likely possible retirement in 2026 Alito turns 76 in April, young by Supreme Court standards. But he might not want to stay around and gamble on the possibility of Democrats flipping the Senate in next year's elections and seeing a Democrat capture the White House two years later.

Retiring next summer would allow Trump to name a similarly conservative but much younger replacement who would almost certainly win confirmation from the Republican-led Senate.

For close watchers of the court, Alito has done only one thing out of the ordinary: signed a contract to write a book that is expected out next year. Even as his junior colleagues have moved quickly to sign book deals. Alito, by contrast, waited nearly 20 years.

He did not respond to a request for comment for this story.

Alito is not the oldest justice. Clarence Thomas is 77, but he has shown no signs of leaving, certainly not before he is set to become the longest-serving justice in US history in 2028. (AP) MPL MPL

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