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    After HC rap, FDA withdraws licence cancellation and suspension orders against Cipla, MCA eateries
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    Commerce Secretary Shri Rajesh Agrawal Leads 4th India–Argentina JTC Meeting; Both Sides Reaffirm Commitment to Deepen Strategic and Economic Partne...
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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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Customs & Trade

Trump threatens Canada with 100 per cent tariffs over its new trade deal with China

January 24, 2026

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Washington, Jan 24 (AP) President Donald Trump on Saturday threatened to impose a 100 per cent tariff on goods imported from Canada if America's northern neighbour went ahead with its China trade deal, intensifying a feud with Prime Minister Mark Carney, a rising voice in the West's pushback to Trump new world order.

Trump said in a social media post that if Carney “thinks he is going to make Canada a Drop Off Port' for China to send goods and products into the United States, he is sorely mistaken.” While Trump has waged a trade war over the past year, Canada this month negotiated a deal to lower tariffs on Chinese electric vehicles in return for lower import taxes on Canadian farm products.

Trump initially had said that agreement was what Carney “should be doing and it's a good thing for him to sign a trade deal.” Carney's office did not immediately respond to a request for comment.

Trump's threat came amid an escalating war of words with Carney as the Republican president's push to acquire Greenland strained the NATO alliance. Trump had commented while in Davos, Switzerland, this week that “Canada lives because of the United States.” Carney shot back that his nation can be an example that the world does not have to bend toward autocratic tendencies. “Canada doesn't live because of the United States. Canada thrives because we are Canadian,” he said.

Trump later revoked his invitation to Carney to join the president's “Board of Peace” that he is forming to try to resolve global conflicts.

Trump's push to acquire Greenland has come after he has repeatedly needled Canada over its sovereignty and suggested it also be absorbed the United States as a 51st state. He posted an altered image on social media this week showing a map of the United States that included Canada, Venezuela, Greenland and Cuba as part of its territory.

In his message Saturday, Trump continued his provocations by calling Canada's leader “Governor Carney.” Trump had used the same nickname for Carney's predecessor, Justin Trudeau, and his first use of it toward Carney was the latest mark of their soured relationship.

Carney has emerged as a leader of a movement for countries to find ways to link up and counter the US under Trump. Speaking in Davos before Trump, Carney said, “Middle powers must act together because if you are not at the table, you are on the menu” and he warned about coercion by great powers — without mentioning Trump's name. The prime minister received widespread praise and attention for his remarks, upstaging Trump at the World Economic Forum.

The prime minister even spoke of a “rupture” between the US under Trump and its Western allies that would never be repaired.

Trump, in his Truth Social post Saturday, also said that “China will eat Canada alive, completely devour it, including the destruction of their businesses, social fabric, and general way of life.” Carney has not yet reached a deal with Trump to reduce some of the tariffs that he has imposed on key sectors of the Canadian economy. But Canada has been protected by the heaviest impact of Trump's tariffs by the Canada-US-Mexico Agreement. That trade agreement is up for a review this year.

In the fall, the Canadian province of Ontario aired an anti-tariff ad in the US that prompted Trump to end trade talks with Canada. The television ad used the words of former President Ronald Reagan to criticize US tariffs. Trump pledged to increase tariffs on imports of Canadian goods by an extra 10 per cent. He did not follow through.

As for China, Canada had initially mirrored the United States by putting a 100 per cent tariff on electric vehicles from Beijing and a 25 per cent tariff on steel and aluminum. China had responded by imposing 100 per cent import taxes on Canadian canola oil and meal and 25 per cent on pork and seafood.

But as Trump's pursued pressure tactics, Canada's foreign policy has been less aligned with the US, creating an opening for an improved relationship with China. Carney made the tariff announcement earlier this month during a visit to Beijing.

“The China trade deal is quite limited as is the US deal with China on (semiconductor) chips. The China deal may grow, however. I expect Chinese interest in funding a pipeline to northern British Columbia,” said Nelson Wiseman, professor emeritus of political science at the University of Toronto.

Carney has said that Canada's relationship with the US is complex and deeper and that Canada and China disagree on issues such as human rights.

Canada is the top export destination for 36 US states. Nearly USD 3.6 billion worth of goods and services cross the border each day. About 60 per cent of US crude oil imports are from Canada, as are 85 per cent of US electricity imports.

Canada is also the largest foreign supplier of steel, aluminum and uranium to the US and has 34 critical minerals and metals that the Pentagon is eager for and investing in for national security. (AP) NPK NPK NPK

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