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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
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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
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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.
August 28, 2026
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Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
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Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
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Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.

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Customs & Trade

Celebrities, politicians, corporate giants in Delhi HC in 2025 seeking relief

December 31, 2025

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New Delhi, Dec 31 (PTI) Several Bollywood stars, senior politicians and corporate giants approached the Delhi High Court in 2025 seeking relief in high-profile legal disputes ranging from protection of their personality to constitutional rights.

The entire judiciary was rocked after burnt wads of huge currency notes were found at the official residence of Justice Yashwant Varma, the then sitting Delhi High Court judge, on March 14. He is currently serving at Allahabad High Court sans judicial work and facing parliamentary inquiry ahead of probable impeachment motion for his removal.

The high court remained in news for suspending the life sentence of expelled BJP leader Kuldeep Sengar, who was convicted for raping a minor girl, and also for denying bail to 10 persons including Umar Khalid and Sharjeel Imam in the "larger conspiracy" case of February 2020 riots by ruling that "conspiratorial" violence under the garb of demonstrations or protests by citizens cannot be allowed.

However, the decision suspending the life term of Sengar was quickly stayed by the apex court amid huge public uproar over the high court order.

Big shots including Bollywood actors Aishwarya Rai Bachchan, her husband Abhishek Bachchan, her mother-in-law Jaya Bachchan, Salman Khan, Hrithik Roshan, R Madhavan and Ajay Devgn, filmmaker Karan Johar, singer Kumar Sanu, Telugu actor Akkineni Nagarjuna, 'Art of Living' founder Sri Sri Ravi Shankar, journalist Sudhir Chaudhary and podcaster Raj Shamani approached the high court seeking protection of their personality and publicity rights. The court granted them interim relief.

The list also includes Telugu actor NTR Junior and Andhra Pradesh Deputy Chief Minister Pawan Kalyan and former cricketer Sunil Gavaskar who urged the court to protect their personality rights by restraining unauthorised use of their name, image, likeness, persona and voice.

Bollywood actress Karisma Kapoor's two children also hotly contested their suit in the high court challenging the authenticity of the purported will of their late father Sunjay Kapur with the kids accusing his wife Priya Kapur of being "greedy" and terming her "Cinderella stepmother".

Priya Kapur also left no stone unturned to defend herself and the will of her husband, who passed away in June after collapsing and reportedly suffering a cardiac arrest during a polo match in England, her husband's will and informing the court that the actress' children have already received Rs 1,900 crore from the family trust. Karisma's children are seeking share in the assets reportedly worth Rs 30,000 crore.

The year also saw challenge on release of several movies, including "Dhurandhar", "Udaipur Files", "2020 Delhi", in theatres and web series on OTT platforms with the high court either refusing to interfere or granting partial reliefs.

The high court also set aside the CIC orders directing disclosure of details related to Prime Minister Narendra Modi's bachelor degree and BJP leader Smriti Irani's class 10 and 12 records, saying just because they were holding a public office, it did not render all their "personal information" to public disclosure. An appeal against the single judge's order is pending before a division bench.

At the fag end of the year, the high court asked Congress leaders Sonia and Rahul Gandhi and others to respond to a plea by the Enforcement Directorate challenging the order of the trial court that refused to take cognisance of its charge sheet against them in the National Herald case.

Besides them, several other politicians like TMC leaders Mahua Moitra and Saket Gokhale, AAP leaders Arvind Kejriwal, Manish Sisodia and Atishi and Jammu and Kashmir MP Sheikh Abdul Rashid were also in the high court contesting their respective legal battles.

Taking student leaders to task, the high court pulled up the authorities and Delhi University Student Union candidates over the defacing of public and private property during campaigns and showing muscle and money power.

It highlighted that students’ suicides are becoming more frequent and emphasized that a proper, functional and effective anti-ragging helpline is an immediate and utmost necessity.

In a separate case related to the death of law student Sushant Rohilla by suicide in 2016 after allegedly being barred from sitting for the semester exams due to lack of requisite attendance, the high court passed a slew of directions including that no law college or university can bar students from taking examinations due to lack of minimum attendance and directed the Bar Council of India to re-evaluate the mandatory attendance norms.

It also held as maintainable and agreed to hear a plea by the Popular Front of India (PFI) against a tribunal order upholding the Centre's five-year ban on the group. Several accused in terror funding cases also failed to get any relief from the high court.

Corporates like Apple Inc, Indigo and Spicejet were also contesting their legal battles in the high court. While Tech giant Apple approached the high court challenging CCI’s direction to furnish its audited financial statements, interGlobe Aviation which operates the IndiGo airline sought refund of more than Rs 900 crore paid as customs duty on aircraft engines and parts re-imported into India after overseas repairs.

PILs were also filed against Indigo to compensate passengers affected by the cancellation of hundreds of its flights in November and December, citing changes in the pilots’ flight duty and regulatory norms.

In the case concerning SpiceJet, the high court dismissed an appeal of media baron Kalanithi Maran challenging a certain portion of a single judge's order upholding an arbitral award in relation to his dispute with the airlines and its promoter Ajay Singh. Though the arbitral tribunal had passed the award in favour of Maran and his company Kal Airways, it had rejected certain claims raised by him.

In a jolt to the hospitality industry, the high court dismissed the petitions of restaurant bodies against the Central Consumer Protection Authority (CCPA) guidelines prohibiting hotels and restaurants from mandatorily levying service charge on food bills. It held that this was against public interest and amounted to unfair trade practice.

Several COVID-19 related matters also saw closure in 2025 with the high court quashing a criminal case against Indian cricket team head coach Gautam Gambhir, his foundation and others for allegedly illegally stocking and distributing COVID-19 drugs during the pandemic.

The court also quashed 16 cases against 70 Indian nationals for housing foreign attendees of Tablighi Jamaat congregation in March 2020 allegedly in violation of COVID-19 norms.

The high court saw several fresh appointments of judges, transfers, retirements and elevations during the year, taking its current strength to 44 as against the sanctioned strength of 60. PTI SKV SJK ZMN

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