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July 24, 2026
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Cross-border commercial engagement supports Indian and Sri Lankan businesses in identifying partnerships and strengthening trade and investment relationships.
Cross-border trade and investment engagement between India and Sri Lanka is proposed through a commerce chamber delegation representing diverse Indian industry sectors. A networking session is intended to enable direct interactions between businesses, identify partnership opportunities, discuss commercial collaboration and develop new business connections. The engagement seeks to strengthen commercial relationships across participating industries within the established bilateral trade and investment relationship.
July 24, 2026
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Foreign exchange market intervention limited rupee depreciation amid elevated oil prices, importer dollar demand, capital outflows and equity market weakness.
Foreign exchange market conditions reflected an early appreciation of the rupee against the US dollar, with likely central bank intervention through state-owned banks reported as limiting sharper depreciation. Softer dollar conditions provided limited support, while elevated crude oil prices increased dollar demand from oil marketing companies and sustained importer buying pressure. Foreign institutional investor equity outflows, domestic equity weakness, and West Asia tensions affecting oil prices also influenced the rupee.
July 24, 2026
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Money-laundering investigation examines alleged bank-loan fund diversion through shell entities, accommodation entries, fake invoices and circular transactions.
A money-laundering investigation under the Prevention of Money Laundering Act concerns alleged bank-loan fraud involving Santosh Overseas Ltd., its promoters and linked entities. Searches were conducted at premises in Uttar Pradesh, Delhi and Punjab. The investigation, arising from a Central Bureau of Investigation case, alleges diversion and layering of loan funds through shell entities, accommodation-entry operators and related companies by means of purportedly fake invoices and circular financial transactions.
July 24, 2026
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July 24, 2026
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Integrated industrial city development promotes cross-learning on digital governance, investor facilitation, infrastructure planning and plug-and-play industrial parks.
Industrial corridor development is being supported through cross-learning on AURIC Smart City's integrated planning, infrastructure and governance practices. The programme addresses master planning, utility systems, digital monitoring, land utilisation, investor facilitation, project implementation and coordination among implementing agencies. It also considers application of these practices to the Bharat Audyogik Vikas Yojana for plug-and-play industrial parks, with emphasis on integrated utilities, digital land management, investor-friendly approvals, sustainable infrastructure and multimodal connectivity.
July 24, 2026
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WTO trade policy review highlights India's commitment to transparent trade rules, development policy space and multilateral engagement.
India reaffirmed an open, transparent, predictable and WTO-consistent trade and investment regime through tariff reform, customs simplification and free trade agreement initiatives. Its trade policy was presented as balancing developmental needs with WTO principles: agricultural tariffs protect vulnerable farmers, while industrial tariffs support supply-chain resilience and domestic manufacturing. India also committed to transparent, consultative and rules-compliant sanitary measures, technical regulations and trade remedies, with investigations based on objective evidence, due process and judicial oversight, including continued application of the Lesser Duty Rule in anti-dumping matters.
July 23, 2026
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Temporary Section 122 surcharge expiry may restore MFN treatment for Indian exports, while Section 301 tariff uncertainty continues.
The US temporary Section 122 import surcharge on Indian goods is scheduled to expire unless extended or replaced, restoring affected imports to normal US MFN tariff treatment. Liability depends on entry for consumption or warehouse withdrawal. Section 232 national-security tariffs remain unchanged. Indian exports may still face fresh measures under Section 301 investigations into forced labour and excess manufacturing capacity, alongside potential country-specific or sectoral tariffs. The expiry may improve export competitiveness and market access, particularly for labour-intensive and MSME-driven sectors.
July 23, 2026
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Quantum finance innovation will advance secure digital banking through cybersecurity, fraud detection, collaborative research, workforce development and digital literacy.
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July 23, 2026
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July 23, 2026
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Bullion market pressure intensified as rising oil prices, inflation concerns and restrictive monetary policy expectations weakened gold and silver sentiment.
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July 23, 2026
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Quantum finance innovation will develop secure, AI-enabled banking solutions through collaborative research, startup incubation, cybersecurity enhancement and workforce development.
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July 23, 2026
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Foreign investment in inventory-based e-commerce is allowed only for exports of Indian-made goods, while domestic retail remains prohibited.
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Joint Home Loan Eligibility and Shared Repayment Liability Shape Borrowing Capacity, Tax Claims, Documentation, and Exit Planning.
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July 23, 2026
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Foreign investment in inventory-based e-commerce is permitted exclusively for exports of Indian-manufactured or produced goods under export compliance rules.
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July 23, 2026
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Women's leadership in credit expands through a Chennai community platform supporting mentorship, inclusive lending practices, and financial ecosystem collaboration.
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July 23, 2026
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July 23, 2026
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Homebuyer refund claims in developer insolvency proceed through pro-rata distribution of funds deposited for eligible buyers.
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July 23, 2026
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Free trade agreement tariff reductions create investment opportunities for Asia-Pacific manufacturers seeking UK and European market access.
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Corp. Laws / SEBI / IBC

Ajit Pawar's son 'lands' in trouble over Rs 300 cr Pune deal; govt orders probe, suspends official

November 6, 2025

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Pune, Nov 6 (PTI) A Rs 300-crore land deal in Pune involving a firm linked to Maharashtra Deputy Chief Minister Ajit Pawar's son Parth was embroiled in charges of irregularities and set off a political row on Thursday, prompting the government to order a high-level probe.

While Chief Minister Devendra Fadnavis said that the issue was "prima facie serious" and he had sought information from relevant departments, Ajit Pawar insisted he was in no way connected to the controversial deal.

The Opposition slammed the ruling Mahayuti comprising the BJP, Ajit Pawar's NCP and Eknath Shinde-led Shiv Sena, and demanded a judicial inquiry even as a First Information Report (FIR) was registered against three persons in the case.

The government has suspended a sub-registrar and set up a high-level committee to investigate alleged irregularities in the land deal.

Additional Chief Secretary (Revenue) Vikas Kharge will head the probe panel formed on Fadnavis's instructions, said officials.

Parth Pawar is yet to respond to the allegations.

The office of Inspector General of Registration (IGP) issued an order suspending R B Taru, Sub-Registrar attached to Haveli No. 4 office in Pune district, for alleged irregularities in document registration and allegedly causing a loss to the exchequer.

The action was based on a report submitted by the Joint District Registrar and Collector (Stamps), said the order.

According to an official, 40 acres of `Mahar Vatan' land belonging to the government in Pune's upmarket Mundhwa area was sold to a private firm, Amadea Enterprises LLP, represented by its partner Digvijay Amarsinh Patil, for Rs 300 crore, and the stamp duty on it was waived. Parth Pawar is also a partner in the firm, the official said.

The land was sold through one Shital Tejwani. The property had a total of 272 names and Tejwani was the power of attorney for the property. Being government land, the plot cannot be sold to a private firm, the official explained.

An FIR was registered at Bawdhan police station in Pimpri Chinchwad against Digvijay Patil, Shital Tejwani and Ravindra Taru on a complaint filed by joint district registrar Santosh Hingane under BNS sections 316 (5) (criminal breach of trust by public servant, etc) and 318 (2) (cheating) for allegedly causing a loss of Rs 6 crore to the government.

The accused allegedly colluded to execute a sale deed of land despite knowing it belonged to the government, the complaint said. Hingane's office had issued a written communication on May 9, informing that stamp duty of Rs 5.89 crore was payable and permission from the competent authority was mandatory, still the deed was executed without collecting the stamp duty, it added.

Inspector General of Registration Ravindra Binwade said the probe panel will find out how the government land was sold to a private firm and ascertain whether the exemption was given as per the norms.

"If it is government land, the registration (of its sale) should not have taken place," Binwade told PTI.

Sources in the revenue department claimed that on the `7/12 extract' (a key title document) the land is in the name of 'Mumbai Sarkar'. But the property card had names of 272 people.

Besides Parth Pawar, Digvijay Patil, in whose name the registration took place, has been shown as a co-partner in the private firm.

Amadea Enterprises LLP is registered at the address of a bungalow, located in Yashwant Ghadge Nagar in Pune, belonging to the Pawars.

According to the IGR office order, the sub-registrar (Taru) should have registered documents only after verifying that NOC from the competent authority was attached. In this case, the documents were registered without any NOC.

The document was registered with the payment of stamp duty of a mere Rs 500, availing exemption. However, though the exemption could have been allowed, there is a separate 2 per cent levy -- 1 per cent local body cess and 1 per cent metro cess - amounting to Rs 6 crore, which cannot be waived. Therefore, this resulted in a loss to the state exchequer, the order stated.

A senior official from the district collectorate said a tehsildar-rank officer, Suryakant Yewale, was suspended in another case on Thursday, though he was also under the scanner in the present land deal.

He said the district administration has initiated an inquiry against Yewale for allegedly allowing the transfer of Mahar Vatan land in the names of private individuals who subsequently sold it to Amadea LLP.

In the agreement, 272 individuals sold the Mundhwa land to Amadea through a power of attorney granted to Shital Tejwani.

Talking to reporters in Nagpur, CM Fadnavis said, "Prime facie, the issue looks serious. I've sought information concerning the case from relevant departments. Orders have been given to conduct a probe." Ajit Pawar separately told reporters he had nothing to do with the entire matter. "I am not even remotely connected to this. The chief minister should definitely probe this. It is his right," he said.

"Three-four months ago, I heard that some such things were going on. I had then clearly said that I won't tolerate any such wrongdoing. I had issued clear instructions that nobody should do such wrong things. I don't know what happened after that," the deputy CM claimed.

Ajit Pawar, who holds finance, planning and excise portfolios, also stated that he has never instructed any officer to ensure benefits for his relatives.

"When your children grow up, they do their own business," the NCP president stated.

Asked about the address in Pune where the company is registered, Pawar said the bungalow is owned by "Parth Ajit Pawar." State BJP minister Nitesh Rane, meanwhile, said, "Zero tolerance for corruption is the style of Chief Minister Fadnavis. Nobody will be spared." Industries Minister Uday Samant defended Parth Pawar, saying his documents were in order.

"He will respond to all the allegations. My department had nothing to do with the incentives and waivers given to the firm. Whether it belongs to the government or any other authority needs to be checked," Samant said.

The Opposition attacked the BJP-led government over the land deal.

Congress leader Vijay Wadettiwar demanded a judicial inquiry, alleging that the file related to the deal moved at "rocket speed".

Within hours, the Directorate of Industries not only approved the transfer of land to the company for an IT park and data centre but also waived stamp duty of Rs 21 crore, the Congress MLA claimed.

Shiv Sena (UBT) president Uddhav Thackeray said in Latur "nothing substantial will come out" of the probe, and the government will eventually give a "clean chit" to those involved. PTI SPK CLS AW MR ND COR NR NP VT RSY KRK

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