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    CGST Delhi South officials arrest one company director in fraudulent availing ITC of ₹6.53 crore
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February 14, 2026
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Input tax credit fraud exposed; director arrested after probe finds bogus suppliers and inadmissible credits used to discharge tax liabilities.
Investigation by the Anti Evasion Branch found that the company availed inadmissible Input Tax Credit on the basis of invoices from bogus or non functional suppliers, and without actual receipt of goods, using those credits to discharge GST liabilities in contravention of the Central Goods and Services Tax Act, 2017; a company director was arrested and remanded while the probe to trace fund flows and other beneficiaries continues.
February 13, 2026
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India-US interim trade deal provoked uproar; Speaker faced removal notice and MPs were suspended during Budget session.
India-US interim trade agreement and the unpublished memoir dispute triggered disruptions in the first leg of the Budget session, leading to eight MPs being suspended, a notice to remove the Speaker and the Speaker's refusal to occupy the chair until that notice is disposed of; the Lok Sabha adopted the Motion of Thanks without the prime minister's reply while the Rajya Sabha completed debate and adopted the Motion amid an opposition walkout, and Parliament passed an amendment to the Industrial Relations Code.
February 13, 2026
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Retail liquor prices to rise as Uttar Pradesh raises licence fees, reforms MRP and launches an excise export policy.
The excise policy raises the minimum guaranteed revenue (MGR)/licence fee for retail liquor shops and bhang shops, adjusts special additional excise duty on IMFL, and reforms MRP by rounding most country liquor and UPML to the next multiple of Rs 10 while introducing a new 100 ml UPML pack; it also creates a standalone excise export policy to promote distilling and logistics investment and requires retail allotments primarily by renewal with district collectors authorised to approve relocations.
February 13, 2026
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Iridium scam network using fake central bank IDs defrauded investors of crores; six arrested, investigation ongoing.
An inter-state fraud operation used a fake commodity investment scheme claiming funds held with the central bank to obtain payments via staged interviews, counterfeit identity cards, biometric collection and forged documents. The facts give rise to allegations of impersonation, forgery, cheating and criminal conspiracy. Law enforcement conducted coordinated arrests across jurisdictions, seized mobile phones and laptops, and is investigating further victims and participants while advising potential victims to file complaints to assist evidence collection and tracing.
February 13, 2026
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Spectrum allocation ruled not an asset and therefore not subject to insolvency proceedings under applicable insolvency rules.
Allocation of electromagnetic spectrum to telecom service providers was held not to constitute an asset capable of being brought into insolvency proceedings, limiting the scope of creditor remedies under the insolvency regime. The NIA was granted an additional 45 days to continue its probe into a blast, and an individual was released on bail in a decades-old criminal case, illustrating ongoing judicial oversight of investigations and pretrial liberty decisions.
February 13, 2026
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Lodha Developers ex-director accused of laundering over Rs 85 crore using front entities, forged MOUs and benami land deals.
Allegations state a former director exceeded limited authority to orchestrate unauthorized transactions that generated, concealed and laundered proceeds of crime exceeding Rs 85 crore by using front entities, benami arrangements, forged MOUs, diversion of company funds through controlled entities, cash withdrawals, undervalued alienation of company land and Transferable Development Rights, and fraudulent allotment of residential units to benefit associates.
February 13, 2026
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Rupee falls to 90.66 as forex reserves decline and a new CPI series is introduced, weighing on markets.
The rupee weakened to 90.66 per US dollar amid a firmer dollar, weak domestic equities, and foreign institutional investor outflows, while RBI data showed a notable weekly decline in forex reserves. Authorities introduced a new Consumer Price Index series with expanded coverage and re-weighted constituents to better inform monetary and fiscal policy.
February 13, 2026
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Supreme Court updates: spectrum ruled non IBC asset; Himachal local polls deadline extended; directions on probes and enforcement.
The Court extended the Himachal Pradesh deadline for local body elections to May 31, required an investigative agency to file a status report on multiple FIRs arising from ethnic violence, ordered a rusticated minor be permitted to sit Class 10 exams with the examination council issuing an admit card, signalled that substantial security may be required in enforcement of a foreign civil judgment if contested, and held that telecom spectrum allocations are not assets subject to proceedings under the Insolvency and Bankruptcy Code.
February 13, 2026
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Spectrum allocated to telecom providers is not an IBC asset; licensing rights do not create proprietary title for insolvency.
Spectrum allocated to telecom service providers is not susceptible to IBC proceedings because the Union retains ownership and the telecommunications statutes and regulatory framework govern administration, use, transfer, and licensing; recognition of spectrum licensing rights as an intangible asset in financial statements does not create proprietary title, and absent transfer of title such licensing rights are not part of the insolvency asset pool.
February 13, 2026
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Priority sector lending potential estimated at Rs 4.88 lakh crore for FY27, with major allocations to agriculture and MSMEs.
NABARD's State Focus Paper projects a priority sector credit potential of Rs 4.88 lakh crore for FY27, allocating Rs 2.24 lakh crore to agriculture and allied activities and Rs 2.27 lakh crore to MSMEs, with block level sub sector estimates to inform the annual credit plan and align financial institutions with development priorities.
February 13, 2026
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Andaman bank fraud: Enforcement Directorate attaches Rs 200 crore in properties under PMLA, linking assets to shell companies.
The Enforcement Directorate, by a provisional order under the Prevention of Money Laundering Act, attached 51 immovable properties worth Rs 200.02 crore allegedly derived from a Rs 500 crore fraud at the Andaman and Nicobar State Cooperative Bank; assets are held in names of accused persons, relatives, associates and controlled firms. The ED alleges use of 23 shell companies, dummy directors and powers of attorney to conceal consideration and that over 100 high-value loans were sanctioned in violation of NABARD, RBI and internal bank directives; a chargesheet against 39 entities was filed in November 2025.
February 13, 2026
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Startup India expands funding, tax reliefs and compliance relaxations to boost venture financing, ESOP flexibility and GST ease.
Startup India recognises over 2.07 lakh startups and deploys three principal funding mechanisms-Fund of Funds for Startups (FFS) via SIDBI backed AIFs (Rs. 25,547.98 crore invested), Startup India Seed Fund Scheme (SISFS) providing grants/convertible/debt through incubators (Rs. 590.93 crore approved), and a Credit Guarantee Scheme for Startups (CGSS) guaranteeing loans (circa Rs. 808.18 crore). Concurrent regulatory and tax easements include profit linked tax deductions, ESOP TDS deferral, carry forward/set off relaxations, GST procedural reforms (simplified registration, QRMP, provisional refunds, interest/penalty waivers, reduced pre deposits) and Companies Act compliance relaxations (optional cash flow, deposit exemptions, reduced board meeting frequency, ESOP and convertible note flexibilities).
February 13, 2026
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Greenfield industrial cities: SPVs formed for 12 projects, EPCs appointed for nine, environment clearances for eleven.
All twelve greenfield industrial city projects have incorporated Special Purpose Vehicles; equity released to nine SPVs; Programme Managers for New Cities appointed for nine projects; EPC contractors appointed for nine projects with one additional contractor finalised; eight EPC contracts had been awarded for internal trunk infrastructure as of January 2026 with one further award thereafter; environment clearances secured for eleven projects and foundation stones laid at two projects.
February 13, 2026
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Lead Bank Scheme draft revises governance, roles, and committee structures; public comments invited by March 6, 2026.
Draft circular revising the Lead Bank Scheme aims to refine Scheme objectives, clarify governance by specifying structure, membership and agenda of fora, and delineate roles and responsibilities of key functionaries. It also proposes measures to strengthen the State Level Bankers' Committee and Lead District Manager offices. Public comments are invited by email using a prescribed subject line within the stated deadline.
February 13, 2026
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RBI draft directions on loan recovery require fair treatment, due diligence, training, and codes for recovery agents.
The Reserve Bank of India has issued draft Amendment Directions extending responsible business conduct requirements on loan recovery and engagement of recovery agents to all regulated entities, specifying safeguards on fair treatment of borrowers, conduct of lender employees and agents, due diligence, training, and a code of conduct for recovery agents, and inviting public comments through prescribed channels.
February 13, 2026
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India's forex reserves fell $6.7bn to $717.06bn; foreign currency assets rose while gold and SDRs declined.
India's foreign exchange reserves fell USD 6.711 billion to USD 717.064 billion for the week ended February 6. Foreign currency assets increased by USD 7.661 billion to USD 570.053 billion, gold reserves dropped by USD 14.208 billion to USD 123.476 billion, SDRs declined by USD 132 million to USD 18.821 billion, and the reserve position with the IMF fell by USD 32 million to USD 4.715 billion.
February 13, 2026
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Gold and silver ETFs see increased investor flows as platforms use open ONDC infrastructure to offer SEBI-regulated products.
Record transaction volumes in gold and silver ETFs reflect investor shifts from physical holdings to SEBI-regulated products; Stable Money's early integration with the Open Network for Digital Commerce enables distribution of regulated mutual funds and ETFs via an open, interoperable infrastructure, increasing reach without closed ecosystems and concentrating mutual fund transactions on the network.
February 13, 2026
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Electoral trusts disbursed Rs 3,826 crore in FY25, with one party receiving 82.5%-report calls for greater transparency.
Electoral trusts received Rs 3,826.34 crore in FY2024-25 and disbursed Rs 3,826.35 crore, with one party receiving 82.52% of distributed funds; ten of twenty trusts reported receipts, five trusts' reports were unavailable, and instances of nil reporting and accounting anomalies were noted. The report identified concentration among top donors and sectors, significant undisclosed donor addresses, and called for enhanced transparency and enforcement under the Electoral Trusts Scheme, 2013.
February 13, 2026
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Wheat and sugar exports authorised with pro-rata quotas for mills and a 70% export fulfilment condition by June 30, 2026.
The government authorised export of 25 lakh tonnes of wheat and an additional 5 lakh tonnes each of wheat products and sugar to manage domestic supply and prices, relying on current private-stock estimates and projected central-pool availability. Additional sugar exports will be allocated on a pro-rata basis to willing mills that declare willingness within 15 days and must export at least 70% of their allocation by June 30, 2026; allocated quotas are non-transferable.
February 13, 2026
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National Productivity Week highlights MSME cluster productivity, Industry 4.0 readiness assessment, and proposed productivity rating systems.
NPC advanced cluster-based strategies to boost MSME competitiveness and global integration, advocating shared infrastructure and knowledge exchange. It proposed an Industry 4.0 Readiness Assessment Framework, an Indian Productivity Rating System, a 5S Assessment Framework for export readiness, sector-specific benchmarks, and a Learning & Development Centre to embed productivity tools. Energy efficiency, sustainable production, youth engagement, and international collaboration were presented as complementary measures to translate productivity gains into cost efficiency and competitiveness.

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CGI looks ahead after 50 years: 'Building what's next' for an evolving world

February 11, 2026

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BENGALURU, India, Feb. 11, 2026 /PRNewswire/ -- In 2026, CGI (NYSE: GIB) (TSX: GIB.A), one of the largest independent IT and business consulting services firms in the world, is marking 50 years of combining human ingenuity with the power of technology to achieve meaningful outcomes for its clients. Under the theme 'Building what's next', the company's milestone looks to the future, reinforcing its role as a trusted partner as the pace of change accelerates. It reflects a company built to grow and last, and one that helps clients succeed in an environment defined by rapid transformations. For five decades, CGI has anticipated trends, embraced and led change, and grown alongside its clients, guided by a long-term vision and a shared commitment to building a company its people are proud to own and grow. Today, with 94,000 CGI Partners worldwide, and an expanding global footprint, the company empowers businesses to harness the latest technology and navigate increasingly complex challenges with confidence. "For 50 years, we have lived by a Dream: creating an environment in which we enjoy working together and, as owners, contribute to building a company we can be proud of," said Serge Godin, Founder and Co-Chair of the Board of Directors, CGI. "This Dream carries us through every technological shift, geopolitical cycle, and economic transformation, connecting us across generations and geographies. Our success reflects the trust we earn every day from our clients as well as the passion, hard work, and expertise of the best team in the world." CGI's approach, grounded in proximity to its clients, accountability and ownership, combines a global delivery model with deep local insight, enabling trusted, long-term relationships and disciplined execution across economic cycles. This framework underpins its work across AI, digital transformation, data, cloud modernization, cybersecurity and business process optimization. As technology increasingly shapes economies, industries and communities, CGI remains focused on delivering success for its clients, providing a supportive environment to build careers for CGI Partners, and creating value for shareholders. "We are thankful for the deep relationships with our clients and remain focused on creating value as they navigate what lies ahead. We thank our CGI Partners for their dedication as owners of the business, whose collaboration brings that commitment to life every day, and we acknowledge our shareholders for their continued confidence in us," said Julie Godin, Executive Chair of the Board of Directors, CGI. "I feel immense pride in carrying forward the values and vision of this company. As we celebrate 50 years, we look ahead, continuing to invest in innovation — including advanced AI — and to deepen our expertise and deliver the outcomes that matter most to our clients. Together, we are building what's next — not just for today, but for decades to come." Built on long-standing values, CGI continues to act as a committed local partner in the communities where it operates. Working with clients, CGI Partners, and shareholders, the company supports education, opportunity and digital access to help build stronger communities for generations to come. "For 50 years, our purpose has been clear: to help our clients succeed by delivering measurable and lasting outcomes," said François Boulanger, President and Chief Executive Officer, CGI. "As the pace of transformation accelerates, our focus remains firmly on the future, anticipating what's next, applying deep industry and technology expertise, and helping our clients move forward with confidence. The role of technology in shaping a better world has never been more powerful or more human. And for CGI, this is only the beginning." "With 22,000 CGI Partners across Asia Pacific, we play a critical role in delivering IT services and driving digital transformation globally. As we celebrate 50 years of helping our clients scale across geographies, we look ahead with confidence, focused on building what's next," said Rakesh Aerath, President, CGI Asia Pacific Global Delivery Centers of Excellence. He added, "We have a highly committed talent base that contributes to CGI's long-term success. Asia Pacific continues to strengthen its position as a strategic hub by developing future-ready talent, deepening technology expertise, and advancing AI capabilities. Through this focus, CGI Partners will continue to deliver high-impact, innovative solutions for our clients." CGI in Asia Pacific supports more than 300 clients globally by delivering transformation projects, and providing IT and business solutions and services. In the region, CGI has established and helped transform Global Capability Centers (GCCs) for clients across the globe. Today, it is expanding the GCC business by scaling capabilities across digital engineering, cloud, and AI. Throughout 2026, CGI will highlight a series of initiatives, stories and events that demonstrate how the company continues to evolve alongside those it serves, reinforcing the foundations that will support the next 50 years of growth. Watch the CGI at 50 years video to see how the company is 'building what's next'. To learn more about CGI's foundation, evolution and growth, please visit the company's history page. About CGI Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2025 reported revenue is CA$15.91 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com | cgi.com/newsroom Logo: https://mma.prnewswire.com/media/2890945/CGI_50_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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