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News
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February 14, 2026
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Tribunal leadership change: president demits office amid administrative reforms credited with substantially improved case resolution.
Chief Justice (Retd.) Ramalingam Sudhakar demitted office as President of the National Company Law Tribunal after a tenure that advanced administrative and infrastructural reforms; during this period the Tribunal disposed of over 48,000 of approximately 54,800 instituted matters, yielding a reported resolution rate exceeding eighty five percent and reflecting improved case management in corporate and insolvency proceedings.
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India-US interim trade agreement and the unpublished memoir dispute triggered disruptions in the first leg of the Budget session, leading to eight MPs being suspended, a notice to remove the Speaker and the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.

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First leg of Budget session witnessing uproar over India-US trade deal, Naravane's book ends

February 13, 2026

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New Delhi, Feb 13 (PTI) The stormy first leg of the Budget session of Parliament that saw heated exchanges between the opposition and the treasury benches over the India-US interim trade deal and unpublished memoir of former Army chief M M Naravane concluded on Friday.

The Lok Sabha and the Rajya Sabha will both reassemble on March 9 and the session will conclude on April 2.

The first part of the session also saw the opposition give a notice to remove Speaker Om Birla from his chair after expressing no-confidence in him and accusing him of abusing his position.

This is the fourth such notice to remove the speaker so far, with the earlier ones either being defeated or not being taken up due to lack of numbers. The notice would now be taken up during the second part of the session.

Meanwhile, the speaker also said that he will not occupy the chair on moral grounds until the notice for his removal is disposed of.

The three-week recess period will allow the standing committees of Parliament to examine allocations made in the Union Budget to various central ministries.

While the Lok Sabha saw lower productivity, that of the Rajya Sabha was nearly 100 per cent, as members participated in the discussion on both the Motion of Thanks to the President's Address and the Union Budget.

The Lok Sabha witnessed acrimonious exchanges from both sides after Leader of Opposition Rahul Gandhi was not allowed to quote excerpts from Narawane's unpublished memoir. Its fallout was that the prime minister could not reply to the discussion on the Motion of Thanks.

The Lok Sabha witnessed dramatic scenes and repeated adjournments from February 2 afternoon after the chair disallowed Gandhi to quote excerpts from Naravane's unpublished memoir relating to the India-China conflict of 2020.

This led to the suspension of eight MPs, including seven of the Congress and one of the CPI(M), for the remainder of the Budget session for unruly behaviour.

The opposition finally moved a notice to move a resolution against Birla for removing him from his chair.

An anguished Birla said he had "concrete information" that many Congress members might move towards the PM's seat and carry out "some unexpected act" as a result of which he had requested him not to come to the House to reply to the discussion on the Motion of Thanks.

In an unprecedented development, the Lok Sabha passed the Motion of Thanks on February 5 without the prime minister's customary reply in the face of relentless sloganeering by opposition members.

In the Rajya Sabha, Prime Minister Modi, in his nearly 100-minute reply to the debate on the Motion of Thanks on February 5, took on the opposition and accused them of insulting not just a tribal woman President Droupadi Murmu but also the high office of the President of India as well as the Constitution. He said the opposition has no right to talk about the Constitution anymore.

He also launched a scathing attack on the Congress saying the opposition party is unable to digest its successive electoral defeats and his rise, and asserted that it will never be able to "dig his grave" as the blessings of crores of Indians are his "protective shield". He also accused the Congress' "first family" of "stealing" Mahatma Gandhi's surname, alleging that stealing was their ancestral profession.

The Motion of Thanks was adopted by the Rajya Sabha by a voice vote in the absence of opposition members, who staged a walkout.

Later, the discussion on the Union Budget took place and Finance Minister Nirmala Sitharaman replied to the discussion in both Houses.

Participating in the debate in the Lok Sabha, Rahul Gandhi accused the government of failing to protect India's interests while signing an interim trade agreement with the United States, a charge that Sitharaman countered, saying it was the Congress government that sold the country at the World Trade Organisation (WTO).

A Bill to amend the Industrial Relations Code aiming to bring legal clarity was passed by Parliament in the first part of the session.

In the Rajya Sabha, Sitharaman asserted that India is on a robust growth trajectory with low unemployment, dismissing concerns of "jobless growth" as a relic of the UPA era. She said the middle class is expanding, not being suppressed, and emphasised that higher taxes paid by individuals compared to corporates do not mean they are being burdened.

According to PRS Legislative, while the productivity of the Lok Sabha was only 43 per cent, that of the Rajya Sabha was 97 per cent. It also said that the Lok Sabha functioned for 26.6 hours while the Rajya Sabha functioned for 58.2 hours.

On Friday, Rajya Sabha proceedings were also adjourned at 1 pm after Zero Hour and Question Hour.

On Friday, Leader of Opposition in Rajya Sabha Mallikarjun Kharge raised the issue of large portions of his speech during the debate on Motion of Thanks being expunged and demanded that they be restored. He urged the chair to reconsider his decision, saying otherwise, he will release them to the public.

Chairman C P Radhakrishnan, however, said Kharge cannot question the chair, and what he was saying was not correct as whatever has been expunged from the records cannot be released outside.

The Lok Sabha saw adjournments before the House was adjourned till March 9. Earlier, the House was adjourned for one hour after opposition members raised slogans demanding the resignation of Union minister Hardeep Puri. The opposition members were also protesting against the India-US interim trade agreement. PTI SKC GJS NAB SKC KSS KSS

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