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May 4, 2026
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Supreme Court and NCLAT spotlight procedural discipline, transgender law challenge, and insolvency bid selection dispute.
The Supreme Court rebuked its Registry for failing to issue notice to the Enforcement Directorate and declined urgent hearing on a plea for continuation of central armed police forces in West Bengal, saying such decisions lie with the political executive. It also agreed to hear challenges to the Transgender Persons (Protection of Rights) Amendment Act, 2026, while the NCLAT dismissed Vedanta Ltd.'s petitions against selection of Adani Enterprises' bid for Jaiprakash Associates Ltd. in insolvency proceedings.
May 4, 2026
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FDI norms eased for foreign companies with limited Chinese or Hong Kong stake, subject to sectoral conditions and reporting.
India eased FDI norms to allow foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent, or a non-controlling stake, to invest under the automatic route in sectors where foreign investment is permitted, subject to applicable sectoral conditions. The revised framework retains reporting obligations and uses the beneficial ownership concept drawn from the Prevention of Money Laundering Rules, 2005. It also preserves expedited clearance for specified manufacturing activities while requiring majority Indian ownership and control.
May 4, 2026
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Section 80G donation deduction rules define eligible donees, deduction limits, cash restrictions, and verification requirements.
Section 80G allows deduction for donations to specified funds, charitable institutions, and approved bodies, subject to category-wise limits of 100% or 50% deduction, with or without a 10% adjusted gross total income cap. Eligibility depends on the donee being within the statutory list and, where required, meeting prescribed approval and compliance conditions. Cash donations above the prescribed amount are not deductible, the same donation cannot be claimed again under any other provision, and the donor must verify the donee's registration and reported information before claiming the benefit.
May 4, 2026
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Commercial wisdom in insolvency resolution plan selection shapes creditor choice over competing bids for Jaiprakash Associates.
Challenge to an insolvency resolution process for Jaiprakash Associates Ltd. centred on the Committee of Creditors' selection of Adani Enterprises' resolution plan over Vedanta's competing bid. The tribunal treated the CoC's decision as an exercise of commercial wisdom based on overall assessment of the resolution plans and found no material irregularity in the Resolution Professional's conduct of the process. The dispute arose in the CIRP context after approval of Adani Enterprises' resolution plan by the adjudicating authority.
May 4, 2026
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International trade education and policy research highlighted as IIFT marks its Foundation Day with new institutional initiatives.
The Indian Institute of Foreign Trade marked its 63rd Foundation Day with official appreciation of its role as an autonomous institution in advancing India's international trade, management education, policy research, and capacity building. The commemorations highlighted its expanding academic and institutional presence across New Delhi, Kolkata, Kakinada, and GIFT City, along with campus growth, alumni engagement, and new academic initiatives. The event also emphasized multilingual course offerings, a new website for improved accessibility and digital engagement, major conferences, research-led innovation, student recognition, and acknowledgment of retired employees and long-serving staff.
May 4, 2026
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Debt recovery tribunal reforms advance through e-filing, hybrid hearings, capacity building, and faster disposal measures.
Department of Financial Services convened a colloquium of DRAT Chairpersons and DRT Presiding Officers to strengthen the debt recovery framework through policy dialogue, reform, and performance enhancement. The discussion focused on reducing pendency, accelerating disposal of cases, capacity building, targeted training, and sharing of best practices across tribunals. Key measures included mandatory e-filing, hybrid hearings, e-DRT 2.0, stronger bank oversight, prioritisation of high-value cases, use of Lok Adalats and mediation, and the BAANKNET e-auction platform.
May 4, 2026
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GST taxpayer facilitation centre strengthens voluntary compliance, transparency, and cooperative tax administration in Itanagar.
GST administration in Itanagar was strengthened with the inauguration of a new GST Bhawan as a dedicated taxpayer facilitation centre for the Itanagar Commissionerate under CBIC. The facility is intended to improve service delivery, accessibility, taxpayer engagement, and ease of compliance, and to function as a centre for facilitation, dialogue, and mutual confidence between taxpayers and the administration. Officers were described as facilitators and partners in a cooperative compliance framework, with a focus on guiding taxpayers, supporting compliance, and simplifying administrative interactions.
May 3, 2026
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Money laundering probe linked to alleged liquor scam leads to fresh seizures of cash, gold and incriminating records.
Fresh searches in a money laundering probe linked to the alleged Chhattisgarh liquor scam led to seizure of cash, gold jewellery and bullion, along with incriminating documents and digital devices. The ED said the searched entities are suspected of receiving, handling, layering or concealing proceeds of crime, while the wider investigation concerns an alleged criminal syndicate that hijacked the excise department and caused a massive loss to the state exchequer.
May 3, 2026
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Aadhaar issuance guidelines face scrutiny over tighter age-based verification and concerns about identity misuse by infiltrators.
A public interest petition seeks directions to the Unique Identification Authority of India to restrict issuance of new Aadhaar cards to citizens up to six years of age and to frame stringent guidelines for issuance of Aadhaar to adolescents and adults. The plea raises concerns that looser issuance practices may enable infiltrators to obtain Aadhaar and masquerade as Indian citizens.
May 3, 2026
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Aadhaar issuance safeguards sought to ensure identity verification, curb misuse, and clarify that Aadhaar is not proof of citizenship.
A public interest petition seeks stricter Aadhaar issuance safeguards, including limiting new Aadhaar cards to children up to six years of age and framing rigorous guidelines for adolescents and adults. It also seeks display boards clarifying that Aadhaar is only a proof of identity and not proof of citizenship, address or date of birth. The petition alleges misuse of Aadhaar by infiltrators, weak verification procedures, and diversion of public resources through wrongful access to identity documents and welfare benefits.
May 3, 2026
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Airline wind-down and refunds follow repeated bankruptcy, as rising oil prices make continued operations unsustainable.
Spirit Airlines announced an immediate orderly wind-down of operations after 34 years, cancelling all flights and ending customer service, after repeated bankruptcy proceedings and continued financial distress. The company said rising operating costs, especially higher oil prices linked to the war with Iran, made continued operation unsustainable. Customers who bought directly from the airline were told to expect refunds through a reserve fund, while passengers who booked through third-party vendors would have to seek refunds from those sellers.
May 2, 2026
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Airline orderly wind-down ends flights and customer service, with refunds routed through direct bookings and third-party vendors.
Spirit Airlines announced an orderly wind-down of operations effective immediately, cancelling all flights and ending customer service. Customers who booked directly were told to look to a reserve fund for refunds, while those who used third-party vendors were directed to seek refunds from them. The airline also said it was repositioning crew to home bases as operations ceased after continued financial distress and failed bailout efforts.
May 2, 2026
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Goods and Services Tax collections in Punjab hit a record high, driven by stronger enforcement and improved compliance.
Punjab reported its highest-ever monthly Goods and Services Tax collection in April 2026, with gross and net collections at record levels and the State claiming the highest year-on-year GST revenue growth among the States. The comparison with the previous year was said to be affected by an abnormal IGST adjustment from April 2025, and adjusted growth figures were presented as evidence of continued organic improvement in tax administration and compliance. The performance was attributed to intensified enforcement activity and broader administrative measures under the State's GST regime.
May 2, 2026
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Foreign investment liberalisation expands automatic-route access for companies with limited Chinese shareholding and opens insurance sector to full FDI.
Foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent are eligible to invest in India under the automatic route in sectors where FDI is permitted, subject to sectoral conditions. The land-border restriction now applies to beneficial owners, with excluded coverage for entities registered in China, Hong Kong, or other land-border countries, and certain investments remain subject to Reserve Bank reporting requirements. The rules also allow 100 per cent FDI in the insurance sector under the automatic route, subject to a 20 per cent cap for Life Insurance Corporation.
May 2, 2026
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Anticipatory bail and custodial interrogation shape a Nashik harassment probe involving alleged coercion and multiple accused.
A Nashik court rejected the anticipatory bail application of a TCS employee accused in a case involving alleged sexual harassment and forcible religious conversion, after the prosecution said custodial interrogation was necessary. The case is part of a wider SIT investigation into multiple FIRs concerning alleged sexual harassment at the company's Nashik unit, while police custody of four other accused was extended for further investigation.
May 2, 2026
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Strategic buffers are needed to manage the West Asia energy shock, rising import dependence and inflationary pressure.
India should build strategic buffers to manage the impact of the West Asia energy shock, which is described as unusually severe because it affects both oil and gas and creates wider vulnerabilities in import-dependent inputs such as nickel, tin and copper. The shock is presented as primarily a price shock for India, with implications for energy costs, trade, logistics and remittances, while policymakers are urged to remain flexible and to strengthen resilience for manufacturing and supply security.
May 2, 2026
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Government equity stakes in private companies drive Trump's activist industrial policy and profit-focused intervention strategy.
Government equity stakes in private companies are being used by the Trump administration as an industrial and economic security tool, with the president treating such investments as potentially profit-making public transactions rather than traditional bailouts. The article describes the administration's willingness to take ownership interests in businesses such as Intel and its consideration of a stake in Spirit Airlines, subject to the deal being financially advantageous to the government. It also notes related interventions, including a golden share structure, limits on foreign buyers' conduct, and arrangements tied to chip sales and critical minerals.
May 2, 2026
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Anticipatory bail and custodial interrogation in alleged harassment and forced conversion case at a TCS unit.
Anticipatory bail was sought by an accused in a case involving alleged sexual harassment and forcible religious conversion at the Nashik unit of TCS. The prosecution opposed pre-arrest protection on the ground that the offence was serious and that custodial interrogation was necessary because the applicant was described as one of the prime accused. The FIR alleged that she advised women employees to dress and behave in accordance with Islamic traditions.
May 2, 2026
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Preferential trade pact and wider cooperation shape India-Ecuador ties across healthcare, trade, technology and medical regulation.
India and Ecuador explored a preferential trade pact alongside wider cooperation in healthcare, agriculture, digital technology, trade and investment. The talks also covered expansion of Indian pharmaceutical exports, critical mineral supply chain partnerships, Ecuador's decision to join the International Solar Alliance and the International Big Cat Alliance, and a grant assistance MoU for Quick Impact Projects in Ecuador. Health discussions focused on affordable healthcare solutions, medical systems, regulatory cooperation in medical products and recognition of the Indian Pharmacopoeia.
May 2, 2026
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Foreign currency financing in GIFT City expands Natixis CIB's India presence and client servicing capabilities.
Natixis Corporate & Investment Banking opened a branch in GIFT City to strengthen its presence in India and the Asia Pacific region and expand client servicing. The branch will offer foreign currency-denominated structured products and financing, including energy and commodities, infrastructure, aviation and export financing, and will cater to corporate and institutional clients. The expansion is described as aligned with operational requirements and the applicable regulatory framework governing activity in GIFT City, including External Commercial Borrowings.

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Customs & Trade

Maharashtra's Pollution Control Chief Takes India's Environmental Governance Case to Europe

May 8, 2026

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Siddhesh Kadam, Chairman of the Maharashtra Pollution Control Board, addresses Europe's largest plastic recycling summit in Amsterdam, becoming the first Maharashtra environmental official to represent India at the Plastic Recycling Show Europe, and places the country's traceability framework on the global map. Mumbai, Maharashtra, India & Amsterdam, Netherlands --- Business Wire India Siddhesh Kadam, Chairman of the Maharashtra Pollution Control Board (MPCB) and a Shiv Sena leader within Maharashtra's Mahayuti ruling alliance, appeared before a high-profile international panel at the Plastic Recycling Show Europe 2026 (PRSE 2026) in Amsterdam on 6 May, becoming the only serving Indian government official on the panel and the first Maharashtra regulator to address this global forum. The panel, titled 'Importance of Traceability for Global Plastic Trade,' brought together regulators, recycling industry leaders, and policymakers from across Europe and Asia at what is widely recognised as the continent's pre-eminent plastic industry event. For Mr. Kadam, the appearance was both a platform and a responsibility, to represent India's regulatory position at a moment when global plastic governance is in active and consequential flux. Central to Mr. Kadam's address was a fact that surprised several European delegates: India's national plastic packaging traceability system is already operational. Since 1 July 2025, every plastic packaging unit produced or sold in India must carry a machine-readable QR code or barcode linked in real time to the manufacturer's registration on the Central Pollution Control Board's EPR portal, a mandate that covers over twenty million tonnes of plastic annually, with no exemptions by industry sector or company size. Cross-referencing with GST registration data ensures the system has teeth. The European Union's comparable mechanism, the Digital Product Passport under the Ecodesign for Sustainable Products Regulation, is projected to extend to plastics and packaging only around 2028 to 2030. India's system is live today, at a national scale no single European country can match. Mr. Kadam placed this fact before the Amsterdam audience without triumphalism, framing it instead as the basis for a bilateral technical conversation between India and Europe on aligning their respective traceability architectures. "India is not asking to be written into the global plastic conversation. It is already in it with a framework, with enforcement data, and with the scale that makes its participation indispensable to any solution that actually works." — Siddhesh Kadam, Chairman, MPCB, at PRSE 2026, Amsterdam 1 Jul 2025 National QR traceability — live 20M+ T Plastic covered by the mandate 30%→60% Recycled content target, rigid packs ~$982M India EPR credit market, 2024 On Maharashtra's enforcement record, between June 2024 and January 2025, MPCB flying squads conducted over fifteen thousand retail inspections across the state's thirty-six districts, seized fourteen and a half tonnes of illegal single-use plastic, and imposed penalties on nine hundred retailers, a ground-level compliance exercise that gave his international audience a concrete measure of regulatory intent. He also offered European delegates an unfamiliar perspective on India's circular economy infrastructure: the four million informal waste workers, ragpickers, kabadiwalas, and scrap aggregators who recover approximately eighty percent of urban plastic in Indian cities, contributing nearly seventy percent of all PET recycling, at near-zero public expenditure. He noted that India's 2025 EPR amendments have begun formally integrating this workforce into the verified supply chain, enabling EPR credits to flow through recyclers who can document their sourcing from informal collectors. The argument drew a pointed response from European panellists accustomed to framing informality as a governance gap rather than a cost-effective circularity model. "Four million Indians collect, sort and channel plastic every single day — without a deposit-return scheme, without a government subsidy, without a fleet of collection trucks. Europe spends billions to do what they do organically. That is not a problem. That is a lesson." — Siddhesh Kadam, Chairman, MPCB, at PRSE 2026, Amsterdam Mr. Kadam also addressed the crisis gripping European plastic recycling, nearly one million tonnes of operational capacity lost between 2023 and 2025, with plant closures rising by fifty percent in the first half of 2025 alone, despite industry investment of five billion euros in the preceding three years. He attributed the collapse not to a failure of capital or technology but to an enforceable traceability gap: the inability of regulators to reliably distinguish verified recycled material from cheaper, mislabelled virgin plastic imports had made the market for genuine recyclates commercially untenable. On the European Commission's planned 2026 import controls, new customs codes to distinguish virgin from recycled plastic, and expanded audits of overseas processing facilities, Mr. Kadam offered India's position directly: traceability-based import requirements are legitimate regulatory instruments, provided they are applied on consistent terms to all market participants. India supports the principle; it reserves judgment on the implementation. He further proposed that MPCB and India's CPCB are ready to engage with European counterparts on technical alignment between India's QR architecture and the EU's Digital Product Passport, noting that the two frameworks are built on compatible international standards and that interoperability is achievable with political commitment on both sides. Speaking on the United Nations negotiations towards a global legally binding treaty on plastic pollution, Mr. Kadam called for the adoption of a universal plastic traceability data standard as a core treaty instrument, a single data language that would allow regulators across jurisdictions to verify material provenance and recycled content along the full supply chain. The proposal found visible traction among European delegates, several of whom engaged Mr. Kadam in further discussion on the sidelines of the session. "The global plastic crisis will not be resolved by one continent's regulations or one country's ambition. It will be resolved when the major economies agree on a common language for traceability — and then enforce it. India is ready to help write that language." — Siddhesh Kadam, Chairman, MPCB, at PRSE 2026, Amsterdam Mr. Kadam's participation at PRSE 2026 represents a significant step in India's engagement with the international environmental governance agenda at a practitioner level. His presence on the panel as a serving regulator responsible for enforcing plastic waste rules across a jurisdiction of one hundred and thirty million people, gave India's position a specificity and credibility that is often absent from high-level diplomatic statements on environmental matters. Officials in Mumbai indicated that follow-up bilateral conversations with European regulatory counterparts are now being explored. About MPCB The Maharashtra Pollution Control Board is the statutory environmental regulatory authority for Maharashtra, India’s most industrially significant state, with jurisdiction over 130 million people. It operates under the Water (Prevention and Control of Pollution) Act, 1974, and is the designated enforcement body for national plastic waste management rules within the state. All data cited in this release is drawn from official MPCB press releases, the CPCB public EPR portal, Plastics Recyclers Europe industry reports, and the OECD's May 2025 report on global plastic waste trade. This release may be reproduced with attribution to MPCB and IdeateLab. To View The Image, Click On The Link Below: Shri Siddhesh Kadam, Chairman MPCB in conversation at the PRSE 2026, Amsterdam (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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