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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India-US interim trade agreement and the unpublished memoir dispute triggered disruptions in the first leg of the Budget session, leading to eight MPs being suspended, a notice to remove the Speaker and the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.
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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.
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February 13, 2026
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Greenfield industrial cities: SPVs formed for 12 projects, EPCs appointed for nine, environment clearances for eleven.
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Lead Bank Scheme draft revises governance, roles, and committee structures; public comments invited by March 6, 2026.
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February 13, 2026
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RBI draft directions on loan recovery require fair treatment, due diligence, training, and codes for recovery agents.
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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.
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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.
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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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Andhra milk contamination case: No urea traces detected in suspected milk, says Health dept

February 24, 2026

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Rajamahendravaram/Amaravati (Andhra Pradesh), Feb 24 (PTI) The Andhra Pradesh government on Tuesday said no traces of urea have been detected so far in the suspected contaminated milk linked to the deaths and hospitalisations here in East Godavari district.

Recently, four people died and nearly 15 others were hospitalised after consuming contaminated milk here.

"No traces of urea have been found so far in the suspected contaminated milk linked to the deaths and hospitalisations reported in East Godavari district," Health and Family Welfare Commissioner G Veerapandian said, addressing a press conference in Amaravati.

Out of the hospitalised people, he said seven remain critical.

He said that if urea had been mixed in the milk, immediate kidney or liver failure would not occur as such complications arise only after prolonged consumption.

Medical experts have indicated that severe complications may arise three to four days after consumption of milk mixed with ethylene glycol, said Veerapandian.

No new cases were reported on Tuesday and continuous health monitoring was being carried out in the affected localities of Rajamundry, located by the Godavari river, he said.

Doctors have been made available round the clock in the identified areas and these measures will continue for another month, he added.

On the advice of senior doctors, special medicines not available locally are being procured from Chennai and Mumbai to improve kidney function of the affected persons, he said.

Meanwhile, samples of curd, ghee, paneer, vinegar and milk remnants collected from the affected houses were sent to National Food Safety Authority-recognised laboratories in Hyderabad and Kakinada for testing.

The milk sold by the vendor was not available, and clarity on the alleged adulteration will emerge based on the laboratory results expected in phases between Wednesday and Saturday, said Veerapandian.

Institute of Preventive Medicine (Food Safety Department) Director Neelakantha Reddy said a special inspection drive will begin from Wednesday at milk sale centres, manufacturers, storage units and wholesale traders across the state.

According to the commissioner, police have also questioned the mechanic who repaired the milk chilling machine as part of the ongoing investigation into the suspected coolant leakage.

According to preliminary epidemiological investigation, milk consumption was identified as the primary cause of the sudden kidney (renal) complications reported among affected persons.

East Godavari District Collector Keerthi Chekuri said milk was supplied to 106 families from a private dairy in Narasapuram village and the supply was immediately stopped.

According to the collector, seven of the 15 hospitalised persons are out of danger while the remaining are on ventilator and dialysis support.

Rapid response teams comprising the district surveillance officer, medical experts, microbiologists and nephrologists were immediately constituted and deployed in the affected areas, she said.

Chekuri said that 14 field surveillance teams visited nearly 680 houses and screened about 960 families. In 110 families, over 290 persons were identified and 315 blood samples collected for examination.

According to the district collector, of the 315 blood samples collected, 313 were found normal, while two persons showed elevated urea and creatinine levels.

Meanwhile, the Animal Husbandry Department (AHD) formed a team of four veterinary doctors and collected 41 milk samples along with cattle feed and water samples, which were sent to the Veterinary Biological Research Institute for testing.

"With all departments taking coordinated action, the situation is currently under control," Chekuri said.

Meanwhile, the police said that a chemical coolant leak from the freezer of a vendor may have resulted in the death of the four people.

The samples collected from the storage unit and the supplied milk have been sent to the Forensic Science Laboratory (FSL) in Vijayawada for detailed scientific examination.

"The milk was stored in a freezer at the accused person's residence and we suspect that coolant might have leaked into it. All necessary samples have been sent to the FSL," East Godavari Superintendent of Police (SP) D Narasimha Kishore told PTI.

The SP said the vendor stored milk at his house in a freezer with two containers, besides filling six cans from storage tanks for distribution.

A few cans were also filled with freshly collected milk before being supplied to customers in various localities of the city.

It is suspected that one can containing contaminated milk may have been delivered to the households where deaths were reported.

The accused vendor has been taken into custody and the dairy unit linked to the supply has been sealed.

A case was registered against the accused under Section 103(1) of the Bharatiya Nyaya Sanhita (BNS) on charges of murder.

Legal action will be taken based on forensic findings and post-mortem reports, the police official said. PTI MS GDK STH SA

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