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    After HC rap, FDA withdraws licence cancellation and suspension orders against Cipla, MCA eateries
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August 29, 2026
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Natural justice in licensing enforcement requires meaningful hearing and reasoned orders before cancellation or suspension of regulated operations.
Natural justice in regulatory licensing enforcement requires a meaningful hearing, proper legal analysis, and a reasoned decision before licence cancellation or suspension. Maharashtra FDA withdrew cancellation of drug-sale licences after criticism of the procedure adopted. Food-safety enforcement against restaurants was also reconsidered where the premises were substantially compliant, despite licences being issued to one entity and operations being conducted by another. A fresh notice, hearing on the contractual arrangement, and reasoned order were required before further licensing action.
August 29, 2026
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Food-safety licensing compliance supports reopening while contractual operation requires notice, hearing, and a reasoned regulatory decision.
Food-safety licence suspension of five eateries was reconsidered after a fresh inspection recorded 88 per cent compliance. The suspension had continued because a third-party operator ran the eateries while licences remained in the association's name, despite no identified legal prohibition. The Food and Drug Administration proposed a fresh notice, hearing, and reasoned order on the contractual arrangement, while current compliance permitted services to resume.
August 29, 2026
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Market access and regulatory cooperation advance agricultural, pharmaceutical, digital, and trade integration priorities across the bilateral economic partnership.
India-Argentina cooperation focused on expanding bilateral trade, reducing non-tariff barriers, facilitating investment, and strengthening market access. Sanitary and phytosanitary discussions progressed for Indian agricultural products, while pharmaceutical engagement covered regulatory upgrading and reduced entry barriers. Mining and lithium-sector engagement, digital services, space technology, telecommunications, artificial intelligence and digital infrastructure were identified as priority areas. The India-MERCOSUR Preferential Trade Agreement, Terms of Reference and digital certificates of origin were considered mechanisms for trade facilitation and economic integration. Business discussions addressed commercial partnerships across agriculture, minerals, energy, pharmaceuticals, healthcare, banking and telecommunications.
August 29, 2026
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Shared digital infrastructure for professional services aims to expand technology access, interoperability, capability development and secure adoption across firms.
MCA and IICA are developing a government-backed digital public good ecosystem for domestic professional services, particularly small and medium practices. The framework proposes curated technology access, learning and capability development, and knowledge and practice infrastructure. It is intended to improve access to technology and professional knowledge while complementing existing institutional and market-based systems. Consultations address interoperability, common standards, cybersecurity, affordable access, implementation, change management, openness, competition and technology adoption suited to differing levels of digital readiness.
August 29, 2026
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Methamphetamine trafficking enforcement targets concealed cross-border transport, with seizures, vehicle confiscation, arrests and stringent penalties under narcotics law.
Methamphetamine trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985 involved intelligence-led seizures of tablets in Assam and Mizoram, along with the vehicles allegedly used for transportation and arrests of two vehicle occupants. Field testing indicated the presence of amphetamine. The tablets were concealed in fabricated cavities within a truck and car, with preliminary investigation indicating alleged cross-border smuggling into Mizoram. Methamphetamine is a notified psychotropic substance, and illicit manufacture, possession, transportation and trafficking attract stringent penal consequences.
August 29, 2026
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IPO disclosure integrity triggers one-year market access bar for issuer and promoter-directors over fabricated quotation and misleading financial disclosures.
SEBI restrained Trafiksol ITS Technologies Ltd. and its promoter-directors from accessing or dealing in the securities market for one year and imposed monetary penalties over irregularities in its SME IPO. The action concerned overstated financial disclosures, inadequate disclosure of issue expenditure and a potential merchant-banker conflict, and proposed use of IPO proceeds based on a fabricated software-vendor quotation. The listing was deferred and IPO proceeds were placed in an interest-bearing escrow account. One promoter was directly involved in procuring the quotation, while the other failed to exercise due diligence.
August 29, 2026
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Securities market fraud involving fictitious transactions triggered market bans, disgorgement, fund restoration, and governance restrictions.
SEBI imposed securities-market restrictions, disgorgement directions and monetary penalties in relation to alleged accounting fraud involving fictitious sales, purchases, circular transactions and fraudulent ledger entries. The alleged inflation of financial results facilitated migration to the NSE main board and was followed by fraudulent preferential allotments, a bonus issue and a rights issue. Rights issue proceeds were found to have been diverted, requiring restoration with applicable interest. The company and its managing director received seven-year market prohibitions, with additional governance restrictions applying to the managing director.
August 28, 2026
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Insolvency debt settlements: political criticism alleges severe creditor haircuts favour influential corporate borrowers over ordinary debtors.
CPI(M) criticised approval of a repayment plan involving Zee Group founder Subhash Chandra, asserting that repayment of Rs 6.5 crore against creditor claims of Rs 22,006.57 crore undermines fairness in insolvency debt settlement. It alleged severe creditor haircuts and bias favouring influential corporate borrowers. The party linked the settlement to an alleged pattern of large borrowers resolving liabilities at steep discounts, shifting the burden to taxpayers and small depositors while smaller borrowers face coercive recovery measures.
August 28, 2026
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Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
Good corporate governance is central to development and depends on responsible governance, ethical practices, transparency, institutional accountability and professional excellence. Company Secretaries have an expanding role in strengthening governance practices through professional expertise. Professional institutions should promote governance standards, support institutional excellence, and evolve their practices in response to changing requirements. Their wider contribution lies in fostering a culture of ethical entrepreneurship, responsibility, transparency and sound governance.
August 28, 2026
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Proceeds-of-crime tracing prompts freezing of deposits linked to structured disposal of foreign property in a bank-loan fraud investigation.
Money-laundering investigation into alleged bank-loan fraud involving DHFL has resulted in the freezing of bank deposits held by Al Jalore Trading FZE under the Prevention of Money Laundering Act. A United Kingdom property was allegedly disposed of through a purported loan arrangement that created an encumbrance to settle an Indian liability. Sale proceeds were credited to Al Jalore Trading FZE's Indian bank account rather than to the registered owner, indicating alleged dissipation of proceeds of crime through a structured foreign-property transaction.
August 28, 2026
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Defence export authorisation reform streamlines consultations, expands unified licences, and facilitates eligible exporters' access to international markets.
Open General Export Licence arrangements permit eligible exporters to self-generate authorisations for multiple consignments of specified defence items without obtaining separate authorisation for each consignment. Three existing licence procedures are consolidated into a unified framework. Licence validity is extended to three years, and territorial coverage is expanded to all countries other than negative or sensitive nations and destinations subject to United Nations Security Council sanctions or arms embargoes. Eligible companies with long-term foreign original equipment manufacturer agreements may obtain licences aligned with the underlying contract, subject to prescribed conditions.
August 28, 2026
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IPO approval enables Jio Platforms to issue fresh equity shares, with proceeds earmarked for subsidiary debt repayment and corporate purposes.
SEBI's final observations enable Jio Platforms Ltd to proceed with an initial public offering comprising up to 27 crore newly issued equity shares. The transaction is structured as a fresh issue of shares. Offer proceeds are primarily allocated towards repayment or prepayment of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms' material subsidiary, with the balance designated for general corporate purposes.
August 28, 2026
Show AI Summary
Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
August 28, 2026
Show AI Summary
Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
August 28, 2026
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Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
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IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
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Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
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Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
August 28, 2026
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Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.
August 28, 2026
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Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.

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Corp. Laws / SEBI / IBC

SC delivered key verdicts on presidential reference, Waqf law in 2025

December 27, 2025

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New Delhi, Dec 27 (PTI) Landmark verdicts on the powers of governors and the president on bills, staying few provisions of the Waqf law and a series of path-breaking judgements defined 2025 for the Supreme Court, a year which saw an unprecedented shoe attack on CJI B R Gavai and the discovery of huge cash at high court judge Yashwant Varma's bungalow here.

The apex judiciary saw a rare transition through three Chief Justices of India (CJIs) within a single year -- Sanjiv Khanna, Gavai, and the incumbent, Surya Kant.

In a move aimed at bolstering judicial independence, justices Khanna and Gavai publicly announced their decisions to not to take any post-retiral assignments, an issue which has been keenly debated.

This set the stage for further institutional transparency, as the court finally began uploading the asset statements of its judges to the public domain and introduced a first-of-its-kind reservation policy for SC/ST categories in its administrative staffing.

The judiciary was rocked after burnt wads of huge currency notes were found at the official residence of Justice Varma, the then sitting Delhi High Court judge, on March 14. This led to a series of decisions including administrative ones by the then CJI Khanna.

After an in-house inquiry panel indicted Justice Varma, he refused to resign even after being nudged by CJI Khanna, who was then compelled to write to President Droupadi Murmu and Prime Minister Narendra Modi for his impeachment.

Currently, a parliamentary panel is conducting its inquiry against Varma, a condition precedent before the impeachment.

On October 6, advocate Rakesh Kishore, now suspended, hurled a shoe towards then CJI Gavai during proceedings. He was apparently miffed over Gavai's alleged remarks on Hindu gods in an earlier proceeding.

As the incident sparked widespread condemnation, Modi spoke to the then CJI and said the attack was "reprehensible" and angered every Indian.

The year saw many path-breaking judgements on a range of issues related to public interest, politics, environment, business, crime and complex civil disputes, especially the challenges to the new Waqf (Amendment) Act, 2025 and the presidential reference.

In a boost to the Centre, the apex court said its deletion of the "waqf by user" provision in the waqf law was prima facie not arbitrary and the argument that waqf lands would be grabbed by governments held "no water".

It, however, put on hold a few provisions, including a clause that only those practising Islam for the last five years could create waqf.

The tug of war between governors and opposition-ruled states over delayed or non-grant of assent to bills passed by state assemblies culminated when President Murmu moved the SC seeking its opinion on a range of issues including whether a timeline of three months, as envisaged by a verdict penned by Justice J B Pardiwala, can be fixed for governors and the president.

Answering the reference, a five-judge bench on November 20 delivered unanimous opinion holding that the court cannot impose any timelines on governors and the president to grant assent to bills.

It, however, said governors do not have "unfettered" powers to sit on the bills for "perpetuity".

The stray dogs menace caught the apex court's attention as its two-judge bench took suo motu cognisance of a media report on canine bites leading to rabies, particularly among children, in Delhi.

A slew of directions, including permanent relocation of stray dogs from streets to shelters, created an uproar with several animal rights activists and organisations hitting the streets in protest leading to setting up of a three-judge bench to deal it afresh.

The larger bench modified on August 22 the direction prohibiting the release of vaccinated stray dogs from pounds in Delhi-NCR calling it "too harsh" and ordered the canines to be released post sterilisation and de-worming.

The spurt of cyber crime cases came under the top court's scanner as it took cognisance of the matter on December 1 asked the CBI to carry out a pan-India probe into digital arrest scam cases, especially where elderly people are duped of their hard earned monies.

The poll panel's decision to conduct special intensive revision (SIR) of electoral rolls in various states beginning from Bihar also came up for judicial scrutiny.

The issue relating to the horrific Air India Dreamliner crash in Ahmedabad that claimed 260 lives also came to the SC which said no one blamed the chief pilot of the flight for the incident.

Amid growing debate over apex court setting aside its own verdicts post retirement of the author judges, the top court on November 18 reversed its own judgement and paved the way for retrospective environmental clearance (EC) by the Centre and other authorities to projects found violating environmental norms on payment of heavy penalties.

Earlier on May 16, a Justice A S Oka-led bench had barred the Ministry of Environment, Forests and Climate Change and the authorities concerned from granting retrospective ECs to projects which are found in violation of green norms.

On September 26, the top court upheld JSW Steel's Rs 19,700-crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains to a prolonged legal battle that spanned nearly eight years.

However, in May, a two-judge bench had set aside a resolution plan of applicant JSW Steel Limited for BPSL and ordered its liquidation for violation of the Insolvency and Bankruptcy Code.

In another significant verdict, the SC struck down key provisions of the 2021 Tribunals Reforms law related to appointment, tenure, and service conditions of tribunal members and presiding officers, saying "Parliament cannot simply override judicial decision by reenacting" these with minor tweaks.

The SC also delivered a landmark verdict aimed at protecting lawyer-client privilege and issued a slew of directions to curb arbitrary summoning of advocates by probe agencies for rendering advice.

In a major blow to the West Bengal government, the SC invalidated the appointment of 25,753 teachers and staffers in the state-run and aided schools, calling the entire selection process "vitiated and tainted".

The cases pertaining to sensational Nithari killings, which came to light with the discovery of skeletal remains of eight children of poor background from a drain behind businessman Moninder Singh Pandher's house at Nithari in Noida on December 29, 2006, were finally closed by the SC with the rejection of CBI's appeals in 12 cases.

Surendra Koli, the only convict in one of the cases, finally walked free as the SC acquitted him of charges in the last such matter.

Former CJI Gavai led benches delivered a slew of verdicts on judiciary including the one in which it made three year experience as a lawyer mandatory for taking up entry-level judicial services exams.

In another verdict, the top court held that a judicial officer can take up exams for higher judiciary under bar quota.

Cracking its whip against social media influencers who were caught ridiculing persons with disabilities and rare genetic disorders, the SC asked the Centre to consider framing a statute to make such derogatory remarks a penal offence on the lines of the SC-ST Act.

It has also asked the Centre to frame guidelines to regulate such contents.

Vantara, Reliance Foundation's zoological rescue and rehabilitation centre, also came up under judicial scrutiny in SC which set up a probe team on August 25 headed by a former apex court judge to look into the allegations of irregularities.

It, however, got a clean chit on September 15 which was later accepted by the SC which said "no contravention of law" was found.

In a bid to enhance transparency, the SC uploaded statements of assets of judges on its website, in accordance with a full-court decision to place the relevant details in the public domain.

In a first, the apex court introduced a formal reservation policy for the direct appointment and promotion of its staffers belonging to Scheduled Castes and Scheduled Tribes categories.

In a notable development, it commenced contempt proceedings against Telangana Assembly speaker for not deciding within stipulated three-months time period the pleas seeking disqualification of some BRS MLAs who defected to the ruling Congress party.

CJI Khanna, in one of his last orders, gave a tongue lashing to BJP MP Nishikant Dubey who said that Justice Khanna was responsible for "civil wars" in the country.

"At the same time, we are of the firm opinion that courts are not as fragile as flowers to wither and wilt under such ludicrous statements," CJI Khanna said in his order. PTI ABA SJK PKS ZMN

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