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    Lodha Developers ex-director remanded to ED custody till Feb 20 in money laundering case
    Rupee falls 5 paise to close at 90.66 against US dollar
    SUPREME COURT-HIGHLIGHTS
    Spectrum allocated to telcos not asset, can't be subjected to insolvency process: SC
    Rajasthan has Rs 4.88 lakh crore of priority sector lending potential in FY27: NABARD
    ED attaches Rs 200 crore worth assets in Andaman bank fraud case
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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.
February 13, 2026
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Technology sector urged to pursue trillion-dollar ambition by 2035 with tax incentives, clean energy and AI focus.
The minister urged the technology sector to pursue a trillion-dollar ambition by 2035 through applied AI, a 10 GW data centre capacity target by 2030, and strengthened clean energy integration, backed by income tax benefits for qualifying investments through 2047 to boost FDI, jobs and the data centre ecosystem, while emphasizing cybersecurity, data integrity, AI education, industry-led engagement with government facilitation, and coordinated action with states to streamline approvals and electricity access.
February 13, 2026
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Customs reforms introduce trust-based governance and an integrated digital ecosystem to simplify clearances and aid trade.
Reforms introduced in the Union Budget 2026-27 emphasise trust-based governance, simplification of customs procedures, and implementation through staff sensitisation across Mumbai Customs operations; a single integrated digital ecosystem connecting export-import stakeholders and participating agencies is being pursued to accelerate clearances, strengthen business planning, and improve ease of doing business, with FAQs released for public facilitation and ongoing stakeholder consultations to address industry queries.
February 13, 2026
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Low voltage motor business acquisition approved; Innomotics to acquire Siemens' unit in India through a slump sale.
The Competition Commission of India approved a proposed combination for the slump sale of the low voltage motor business of Siemens Limited to Innomotics India Private Limited. The Target Business sells low voltage motors for industrial applications in India and exports under an outsourced manufacturing model. Innomotics, part of KPS Capital Partners, is an industrial motors manufacturer supplying high and medium voltage motors and large drive systems to sectors including oil and gas, metals, cement, power and marine. A detailed order will follow.
February 13, 2026
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Acquisition of ~6.63% stake in Valuedrive by Fidelity Funds via CCPS subscription and secondary purchase.
The proposed transaction involves acquisition of approximately 6.63% minority shareholding in Valuedrive Technologies Private Limited by Fidelity group investment funds through a mix of primary subscription and secondary acquisition of compulsory convertible preference shares, with Fidelity Funds acting as diversified investment vehicles. Valuedrive is an operating-cum-holding company in the Spinny Group operating an electronic wholesale motor-vehicle platform and owning subsidiaries in lending, insurance broking, automotive publishing/events, and ancillary services.
February 13, 2026
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Amundi ICG proposed combination approved: Acquirer to buy 4.64% voting shares, nominate a director and subscribe to non voting instruments.
CCI approved Amundi's acquisition of 4.64% voting share capital of ICG via on-market purchases, a right to nominate a director, and subsequent subscription to non voting instruments up to 5.26% of ICG's capital. The Acquirer lacks direct Indian operations but is indirectly present through a minority joint venture that offers asset management services in India. The Target operates globally as an alternative asset manager across structured capital, private equity, real assets, private debt, and credit markets.

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THE LEELA CONCLUDES THE FOURTH SEASON OF #POLOINTHEPINKCITY WITH A CELEBRATION OF THE ROYAL SPORT, CULTURE AND REFINED LUXURY

February 11, 2026

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The tournament featured a pre-finale gala at the newly unveiled Amber Terrace and an exhibition victory by The Leela Polo Team, bringing together gracious hospitality and Rajasthan's enduring polo heritage JAIPUR, India, Feb. 11, 2026 /PRNewswire/ -- The Leela Palaces, Hotels and Resorts marked the successful conclusion of #PoloInThePinkCity, as the fourth season of The Leela Maharaja Sawai Man Singh Polo Cup reaffirmed the brand's commitment to preserving and celebrating the royal sport of polo through thoughtfully curated experiences that blend heritage with contemporary luxury. L-R: Kr Vikramaditya Singh Barkan, Team Optiemus Achievers, Mr. Digvijay Singh, HH Sawai Padmanabh Singh of Jaipur, Mr. Anuraag Bhatnagar, Parul Rai, Maharaj Narendra Singh, Mr. Anoop Pandey, Mrs. Anjali Mehra, Team V Polo, IV Singh The season commenced on February 7 with an elegant pre-finale gala dinner at The Amber Terrace, the newly launched rooftop destination at The Leela Palace Jaipur. Overlooking the Aravalli Hills, the evening unfolded against the backdrop of the terrace's distinctive 'root-to-fruit' cocktail and culinary philosophy, offering guests an immersive introduction to the palace's newest social address. The gathering brought together visionaries from Jaipur's cultural landscape alongside leading voices from fashion and the arts, including singer Manasi Scott, designer Nikhil Mehra, director Prahlad Kakkar, actor and creator Monica Vaswani and actor Chayan Chopra, setting the tone for a weekend defined by elegance and anticipation - hallmarks of #PoloInThePinkCity. On February 8, the focus shifted to the polo field at the Rajasthan Polo Club. Ahead of the final, an exhibition match saw The Leela Polo Team take on the Jindal Polo Team, with The Leela Polo Team emerging victorious with a score of 4–3. Sawai Padmanabh Singh - Icon of India by The Leela and captain of The Leela Polo Team - delivered a standout performance, scoring two goals, alongside two goals by Rao Himmat Singh Bedla. The highlight of the day was the grand finale of the 4-chukker The Leela Maharaja Sawai Man Singh Polo Cup 2026, contested between Team Optiemus Achievers and Team V Polo. In a closely fought match, Team Optiemus Achievers claimed the title with a final score of 7–5, bringing the fourth season of #PoloInThePinkCity to a thrilling close. Speaking on the occasion, Mr. Anuraag Bhatnagar, Chief Executive Officer, The Leela Palaces, Hotels and Resorts, said, "The Leela Maharaja Sawai Man Singh Polo Cup reflects our enduring commitment to honouring India's royal sporting heritage through experiences that embody true Indian luxury. As we conclude the fourth season of this association with the Rajasthan Polo Club, it is especially meaningful to see this journey unfold alongside the unveiling of the reimagined The Leela Palace Jaipur and The Amber Terrace - spaces that represent how we continue to evolve while remaining deeply rooted in culture, craftsmanship and gracious hospitality." The event was further elevated by the association of BMW Excellence Club, as Luxury Mobility Partner, and Hibiki Whisky, as Celebrations Partner, whose shared values of craftsmanship, precision and refined experiences resonated seamlessly with The Leela's philosophy. Mr. Vitesh Barar, Director Marketing BMW India , said, "We are proud to partner with the Leela Maharaja Sawai Man Singh Polo Cup through BMW Excellence Club, an experience that perfectly aligns with BMW's ethos of precision, craftsmanship, and refined luxury. Polo, much like BMW, is a sport that embodies heritage, elegance, and performance, qualities that resonate deeply with our brand. The seamless blend of tradition and modernity showcased at Polo Cup mirrors BMW's commitment to delivering driving experiences that combine cutting-edge technology with timeless sophistication. We celebrate this unique convergence of sport, culture, and luxury, and look forward to creating unforgettable moments for connoisseurs of excellence." "The Maharaja Polo Cup is a rare convergence of heritage and modern luxury - an environment where Hibiki feels instinctively at home. Through this association, Hibiki is experienced not merely as a whisky, but as an expression of balance, craftsmanship, and time. These are moments that cannot be bought, only experienced - true to the spirit of Hibiki, The Masterpiece of Japanese Artistry" commented Rohini Menezes, Category Manager, The House of Suntory, Suntory Global Spirits . As the curtain falls on its fourth season, this event stands as a testament to The Leela's role as a custodian of the royal sport - creating moments where heritage, sport and modern luxury converge with effortless grace. About The Leela Palaces, Hotels and Resorts The Leela Palaces, Hotels and Resorts is India's largest institutionally owned and managed pure-play luxury hospitality brand. Backed by the Brookfield Group, The Leela operates 14 award-winning properties across India's premier leisure and business destinations. Recognized globally for architectural excellence and bespoke services, The Leela has been ranked the #1 hospitality brand globally by Travel + Leisure World's Best Awards in 2020 and 2021, and among the top three in 2023 and 2024. The brand remains committed to delivering timeless Indian hospitality through world-class luxury experiences. For more information, please visit our website www.theleela.com and connect with us on Facebook , Twitter and Instagram . About The Leela Palace Jaipur Set against the Aravalli Hills, The Leela Palace Jaipur is a modern palace that blends Rajasthan's regal heritage with contemporary luxury. Spread across eight acres of landscaped gardens, the palace features 194 elegant rooms and suites, immersive cultural experiences, and Aujasya Spa by The Leela, rooted in ancient Indian wellness traditions. The palace's signature dining destinations include Jamavar, a fine-dining homage to India's royal kitchens; The Aravalli Dining Room, an elegant all-day restaurant inspired by Jaipur's regal heritage; The Peacock Lounge, an exclusive lounge offering refined Mediterranean cuisine; The Jharokha Bar, celebrating the spirited essence of Royal Rajasthan; and The Amber Terrace, overlooking the Aravalli Hills, offering root-to-fruit inspired cocktails paired with modern Asian cuisine. Celebrated as a preferred address for iconic celebrations and discerning travellers, The Leela Palace Jaipur has been recognised with Two Michelin Keys (2025), ranked among the Top Hotels in India by Condé Nast Traveller UK Readers' Choice Awards 2025, and named Favourite Indian Leisure Hotel at the Condé Nast Traveller India Readers' Travel Awards 2025. Photo: Embedded Media Logo: 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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