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    CCI approves acquisition by CPPIB India Pvt Holdings Inc. of certain shareholding in Ctrl S Datacenters Ltd.
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May 13, 2026
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Competition approval for CPPIB India's acquisition of shareholding in Ctrl S Datacenters advances a proposed investment combination.
Competition approval was granted for the acquisition by CPPIB India Private Holdings Inc., a Canadian investment holding company and wholly owned subsidiary of CPPIB, of certain shareholding in Ctrl S Datacenters Limited. The transaction concerns a proposed combination involving investment by CPPIB through CIPH in Ctrl S, which provides data centre and colocation services and related managed services in India.
May 13, 2026
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Merger and stake acquisition in Lloyds Engineering Works approved under competition law review.
Competition Commission of India approved a proposed combination involving acquisition of a 7.14% shareholding in Lloyds Engineering Works Limited by Thriveni Earthmovers Private Limited through a block deal, and merger by absorption of Lloyds Infrastructure & Construction Limited, Metalfab Hightech Private Limited and Techno Industries Private Limited into Lloyds Engineering Works Limited as the surviving entity. The parties are described by their respective businesses in contract mining, engineering, construction, manufacturing of heavy equipment, lightweight engineering structures, and manufacture of elevators, escalators, motors and pumps.
May 13, 2026
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Competition clearance for Kimberly-Clark's acquisition of Kenvue covers consumer health, hygiene and personal care businesses.
Competition Commission of India approved the acquisition of sole control over Kenvue Inc. by Kimberly-Clark Corporation pursuant to an agreement and plan of merger. The transaction concerns consumer products groups active in personal care, health, hygiene and related product lines, including fibre-based absorbency products, baby care, feminine hygiene, consumer health, oral care, skin care, sun protection, baby toiletries and baby wipes.
May 13, 2026
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Competition Commission approval of acquisition and control of GVK Energy by Adani Power under insolvency resolution.
Competition Commission of India approved the acquisition of 100% share capital and control of GVK Energy Limited by Adani Power Limited pursuant to the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The proposed combination relates to change in ownership and control of the Target in the context of insolvency resolution. Adani Power Limited is a listed thermal power producer, while GVK Energy Limited is engaged in hydroelectric power generation through its subsidiary AHPL and provides operation and maintenance services to AHPL.
May 13, 2026
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User Development Fee structure at Noida International Airport set for domestic and international passengers with gradual tariff increases ahead.
AERA fixed the User Development Fee for Noida International Airport for the 2026-27 period at Rs 490 for departing domestic passengers, Rs 980 for departing international passengers, Rs 210 for arriving domestic passengers and Rs 420 for arriving international passengers, and approved gradual increases over the first control period. It also allowed a Variable Tariff Plan for landing and parking charges to support early route development, with charges to rise progressively over the concession period. AERA said the tariff structure reflects the characteristics of a greenfield airport, including higher upfront investment, statutory compliance requirements and phased capacity expansion.
May 13, 2026
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Rupee recovery supported by higher gold and silver import tariffs aimed at easing foreign exchange pressure.
The rupee recovered in early trade after higher import tariffs on gold and silver were expected to curb overseas purchases and reduce pressure on foreign exchange reserves. The currency's gains were moderated by elevated crude oil prices and the strength of the US dollar, while market participants also linked the move to a possible narrowing of the current account deficit through lower precious-metal imports.
May 13, 2026
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Illegal constructions and municipal membership scrutiny follow notice, failed stay request and demolition at AIMIM corporator's properties.
Municipal action targeted alleged illegal constructions at the residence, office and shops of an AIMIM corporator after a notice called for a reply within 72 hours on the status of the properties. The corporator sought a stay, but no stay was granted, and the civic body proceeded with demolition under police protection while indicating that the property's fate could be decided if no satisfactory response was received. The matter was also linked to proposed action regarding the corporator's membership in the municipal body, subject to verification of property documents and alleged nondisclosure in the nomination process.
May 13, 2026
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Import duty on gold and silver raised to curb non-essential imports and conserve foreign exchange amid balance of payments stress.
Import duty on gold and silver was increased to 15 per cent by raising the social welfare surcharge and agriculture infrastructure and development cess, effective 13 May 2026. The measure was intended to curb non-essential imports of precious metals and conserve foreign exchange amid a rising import bill and balance of payments stress. It reversed the earlier reduction in customs duty on gold to 6 per cent and was aimed at moderating inbound shipments driven largely by the jewellery industry.
May 12, 2026
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User Development Fee fixed for Noida International Airport, with a Variable Tariff Plan allowed for early route expansion.
Airports tariff regulation for Noida International Airport fixed the User Development Fee for the 2026-27 period at Rs 490 for departing domestic passengers, Rs 980 for departing international passengers, Rs 210 for arriving domestic passengers and Rs 420 for arriving international passengers. A Variable Tariff Plan was also permitted, mainly for landing and parking charges, to encourage airlines to open new routes, increase flights and expand their network in the early operational years.
May 12, 2026
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Stamp duty exemption claim rejected, with recovery of deficit duty and penalty sustained on a high-value land sale deed.
Stamp duty exemption claims for a high-value land sale deed in Mundhwa were rejected, and the recovery of deficit duty and penalty was sustained after appellate review by the Maharashtra State Chief Controlling Revenue Authority. After issuance of show-cause notices and consideration of the company's written reply, the Collector of Stamps assessed duty liability at about Rs 21 crore, including duty under the Maharashtra Stamp Act and additional municipal levies. The authority held that the exemption claim was untenable and affirmed the earlier order directing payment of the stamp duty and penalty.
May 12, 2026
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Transparent income tax compliance gets a tech-driven push with simpler language, digital assistance and automated refund processing.
Income tax administration is being repositioned around a simplified, transparent and technology-driven compliance framework under the Income Tax Act, 2025, with emphasis on reducing litigation, improving voluntary compliance and aligning taxpayers and tax authorities through clearer language. The department is promoting digital assistance and taxpayer outreach through initiatives such as an AI-powered chatbot, educational FAQs and brochures, and printed guidance on exemptions and TDS in regional language.
May 12, 2026
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Rupee weakness amid global risk aversion, crude price surge and expectations of possible RBI support
The rupee fell to a fresh record low against the US dollar amid global risk aversion, stronger dollar trends and a sharp rise in Brent crude prices. Traders linked the weakness to concerns over India's trade deficit and balance-of-payments pressures if oil prices remain elevated, while noting that any RBI intervention could support the currency at lower levels. The report also notes foreign institutional selling and weakness in domestic equity markets.
May 12, 2026
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Export growth, self-reliance and quality manufacturing drive India's push toward higher competitiveness and global market expansion.
India's economic resilience, export performance and external-sector strength were highlighted alongside the need for greater efficiency, productivity, self-reliance and import reduction. Free trade agreements with developed economies were presented as tools to expand exports and attract investment, while artificial intelligence, robotics and quantum computing were described as force multipliers for competitiveness. The text also urged a shift from assembled to designed, engineered and manufactured goods, with non-negotiable quality, deeper localisation, stronger R&D and alignment with global standards.
May 12, 2026
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AI-first banking trust positioning emphasizes compliant by design transformation, core-system integration, and measurable operational outcomes.
Maveric Systems announced a new brand positioning, "Engineering Trust in AI-First Banking," for financial institutions shifting from digital-first to AI-first operating models. The positioning emphasizes embedding AI into core banking systems, applying fairness, explainability, reliability, privacy and regulatory compliance by design, and delivering measurable outcomes through a proprietary AI @ Scale framework, supported by platforms for quality intelligence, data integrity, customer intelligence and intelligent operations.
May 12, 2026
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Foreign-exchange conservation measures prompt ICAI to curb overseas travel and promote virtual meetings among members and officers.
ICAI proposed foreign-exchange saving measures for members, officers and families amid the West Asia conflict and higher oil prices. The institute said it would issue an advisory to curb foreign travel and encourage other ways of conserving foreign exchange, including using virtual meetings where possible. Foreign travel by office-bearers and officers would be restricted to cases of absolute necessity, and the measures would be implemented mandatorily within ICAI.
May 12, 2026
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Public Sector Banks show stronger asset quality, record profitability and healthier capital position amid broad-based credit growth.
Public Sector Banks recorded strong financial performance during FY 2025-26, marked by sustained business growth, improved asset quality, record profitability and a healthy capital position. Aggregate business, deposits and advances expanded sharply, with broad-based credit growth in the retail, agriculture and MSME segments. Asset quality improved significantly as gross and net NPA ratios fell to historically low levels, while provisioning coverage remained above 90% across all PSBs.
May 12, 2026
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Rupee depreciation under geopolitical as US-Iran tensions and surging crude prices pressure foreign exchange markets.
Rupee depreciation in the foreign exchange market was driven to a record closing low against the US dollar amid renewed US-Iran tensions, heightened global risk aversion, and concerns over tighter global supply conditions. Market sentiment was also affected by expectations that elevated crude prices could worsen India's trade deficit and balance-of-payments position, while the dollar remained firm against major currencies. Brent crude rose sharply, reinforcing fears of supply disruption and higher energy costs.
May 12, 2026
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Balance of payments stress test from West Asia crisis raises inflation, current account and rupee pressure for India.
West Asia crisis is described as a live balance of payments stress test for India, with direct implications for inflation, the current account and the exchange rate. Heavy dependence on imported crude, imported LPG and remittance inflows from Gulf countries makes India exposed to disruption in energy supplies and external earnings, while higher global crude prices are expected to enlarge the import bill, weaken foreign exchange reserves, widen the current account deficit and put pressure on the rupee.
May 12, 2026
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Fuel supply stability and under-recoveries shape India's energy response as the government weighs long-term conservation and storage reforms.
India's fuel supply remains stable despite global energy disruptions, with about two months of crude stock, LNG inventories and LPG reserves available and no immediate supply-side shortage reported. State-owned oil marketing companies continue to supply petrol, diesel and cooking gas below cost, and retail prices have remained unchanged for several years despite elevated input costs. The government is reviewing the strain from under-recoveries, promoting fuel conservation, a shift to piped natural gas, larger strategic reserves, expanded refining capacity and wider domestic exploration.
May 12, 2026
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False suicide note on bridge triggers police search, as young man later returns home safely.
A handwritten suicide note, slippers and an Aadhaar card found on a bridge over the Saryu river led police to believe a young man had jumped into the water, prompting a six-hour search. The man was later found safe at home and told police he had staged the scene because of family tensions and mental stress, but later returned home after reconsidering. His statement was recorded and further investigation was underway.

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SMMARUN and ByteVerity Announce Global Partnership to Operationalise Responsible AI Governance - Made in India, Built for the World

May 21, 2026

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Gurugram, Haryana, India – Business Wire India • RAIGDRG™© + Defensible AI Counter™ — a deterministic runtime substrate that turns AI Governance from policy promise into examiner-ready, signed, offline-verifiable evidence.

• Built for Governments and Regulators, Public and Private Enterprise, Education Institutions, and Consulting and IT Partners across India, the Gulf, the European Union and the United States.

SMMARUN Management Consortium Associates LLP (LLPIN: ACT-2625), headquartered in Gurugram, today announced a global strategic partnership with ByteVerity, a runtime AI compliance platform with 121 patents filed. Branded RAIGDRG™© + Defensible AI Counter™, the partnership unites SMMARUN’s Responsible AI Governance and Digital Risk Governance consulting and Masterclass franchise with ByteVerity’s deterministic spine — designed, engineered and proven in India, and built to serve every regulated buyer of AI, anywhere in the world.

The here and now fact is that AI is moving faster than the governance that holds it accountable. The Stanford HAI 2025 AI Index recorded 233 AI-related incidents in 2024 — a 56.4% increase year-on-year. The EU AI Act (Regulation 2024/1689, Article 99) carries fines of up to €35 million or 7% of global annual turnover, with high-risk obligations from 2 August 2026. India’s DPDP Rules 2025 (MeitY, Gazette G.S.R. 846(E), notified 13 November 2025) layer penalties of up to ₹250 crore. RBI FREE-AI (13 August 2025) and MeitY’s India AI Governance Guidelines (5 November 2025) extend the perimeter to every regulated Indian entity. Across SMMARUN’s enterprise sample, 88% of organisations have adopted AI; only 23% can defend that adoption to a regulator.

We are bridging the gap between AI Promise and Reality, ‘Policy to Practice’, by providing ‘Defensible AI’, A Deterministic Substrate Under a Three-Pillar Practice. SMMARUN’s three pillars — (1) AI Governance, Fairness & Risk Management; (2) Masterclass in AI Governance; (3) AI-Driven Platform & Solutions — now carry a deterministic spine. ByteVerity sits under Pillar 3 and gives Pillars 1 and 2 something measurable to deliver against. ByteVerity’s Five Planes — Kernel, Compositor, Governor, Sovereign, Vault — map directly onto the Puneet Mohan 5P Model FrameWorkx™ (Predict, Prepare, Propose, Plan, Prevent) within the 4A InDoctrine™©. The result is not another policy document; it is signed, append-only, offline-verifiable evidence that a regulator, an internal auditor or an examiner can replay.

Three Buy-Tomorrow Engagements. The partnership goes to market with three productised offers: 1. 90-Day AI-Governance Readiness with Deterministic Spine — a fixed-scope sprint that stands up an AI Governance Operating Model, board-approved policy, Policy Packs and the ByteVerity runtime kernel against DPDPA 2023, RBI FREE-AI, MeitY’s India AI Governance Guidelines, IRDAI and SEBI — with global cross-walks to NIST AI RMF, ISO/IEC 42001, EU AI Act, SR 11-7 and 21 CFR Part 11.

2. Sovereign Data & National-Boundary IP Unlock — a Sovereign-plane deployment that locks data residency, model lineage and IP attribution inside national boundaries — purpose-built for Governments, Public Sector Enterprises, regulated private operators and the wider Indian and international technology ecosystem that needs provable digital sovereignty as the precondition for trustworthy AI.

3. Examiner-Ready Evidence Compression for SR 11-7 / 21 CFR Part 11 — a Vault-and-Governor stack that compresses SR 11-7 model risk documentation, 21 CFR Part 11 audit trails, ICH E6(R3) GCP records and CDSCO/ICMR submissions into signed bundles that survive offline verification — designed for banks, insurers, life-sciences operators and any examiner-facing function in any jurisdiction.

Built for Six Buyer Constituencies. RAIGDRG™© + Defensible AI Counter™ is engineered for six buyer constituencies: Governments and Regulators (RBI, MeitY, SEBI, IRDAI, the EU AI Office, SAMA, CBUAE and counterparts); Public Sector Enterprise; Private Enterprise across BFSI, Healthcare, Insurance and Life Sciences; Education Institutions — including IIT and IIM faculties partnering on Masterclass cohorts and joint research; Consulting and IT Partners working alongside SMMARUN’s platform-partner network; and the global Indian-led delivery ecosystem, including Global Capability Centres. One substrate. Six buyers. One signed page of evidence.

Global. Made in India. The partnership crystallises a doctrine that has been quietly building: that the world’s most rigorous AI governance fabric can be designed, built and proven in India — and then exported as Best-In-Class engineering to global regulators, global enterprises and global auditors. Global. Made in India. Governable everywhere.

QUOTES 1. Arjun Malhotra | Chairman, SMMARUN Global Advisory Board | Co-founder, HCL Group “In 1976, the question was whether Indians could build computers. In 2026, the question is whether Indians can build the governance fabric that makes the world’s AI trustworthy. SMMARUN and ByteVerity, together, give that question an Indian answer — humble in tone, world-class in engineering, and Best-In-Class in defensibility. Global. Made in India.” 2. Ravi Balwada | Advisor & Board Member, ByteVerity “With 121 patents filed across the sidecar, signing kernel, contract layer and Policy Pack catalogue, ByteVerity was built to be the deterministic spine of Responsible AI. SMMARUN brings the consulting depth, the Masterclass pedagogy and the regulator-grade frameworks; we bring the substrate that makes all of it measurable. Together, we are not selling another platform — we are giving CIOs, CROs, Chief AI Officers, regulators and auditors a Defensible AI Counter™ they can put in front of any examiner, anywhere.” 3. Preeti Mohan | Co-founder & Chief Responsible AI Governance, SMMARUN “Responsible AI cannot live only in slide decks and steering committees. It has to live in the runtime, in the evidence and in the everyday decisions of the people who build and operate these systems. With ByteVerity under our third pillar, SMMARUN can finally deliver Responsible AI Governance, Fairness and Risk Compliance as a measurable outcome — not an aspiration. Our 90-Day Readiness sprint, our Masterclass and our Sovereign Data offer are all now anchored to signed, replayable proof.” 4. Mohit Mahajan | Founder & CEO, ByteVerity “Prompts alone have never stopped a model from misbehaving in production. ByteVerity’s model agnostic substrate — Kernel, Compositor, Governor, Sovereign, Vault — was engineered so that every consequential AI action across any model operate within the organisational and team guardrails and carries a signed, tamper-proof, offline-verifiable receipt. Bringing this together with SMMARUN’s RAIGDRG™© practice and the Puneet Mohan 5P Model FrameWorkx™ closes the loop the industry has tolerated for too long: the gap between what companies write in their prompts and policies and what their models actually do at 3:47 a.m. on a Tuesday." About SMMARUN SMMARUN Management Consortium Associates LLP (LLPIN: ACT-2625), headquartered in Gurugram, India, is an AI Governance consultancy positioned around Responsible AI: Governance, Fairness & Risk Compliance, with the brand promise “Transforming Business. Bridging the gap between AI Promise & AI Reality.” SMMARUN delivers across three pillars — AI Governance, Fairness & Risk Management; Masterclass in AI Governance; and AI-Driven Platform & Solutions — anchored in the proprietary 4A InDoctrine™© and the Puneet Mohan 5P Model FrameWorkx™ (Predict, Prepare, Propose, Plan, Prevent). SMMARUN is led by Puneet Mohan, Founder – CEO & MD, Preeti Mohan, Co-founder & Chief Responsible AI Governance, with Arjun Malhotra serving as Chairman, SMMARUN Global Advisory Board.

SMMARUN Headquarters: Gurugram, Haryana, India • LLPIN: ACT-2625 About ByteVerity ByteVerity is a runtime AI compliance platform purpose-built as the deterministic substrate — the “Defensible AI Counter™” — for Responsible AI. Its architecture combines a sidecar, signing kernel, contract layer, Policy Pack catalogue and offline verification engine across five planes: Kernel, Compositor, Governor, Sovereign and Vault, with 121 patents filed. ByteVerity is founded and led by Mohit Mahajan as Founder & CEO, with Ravi Balwada serving as Advisor & Board Member, and is headquartered in Noida, India.

(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 PWR

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