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May 9, 2026
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Prevention of Money Laundering Act action draws political vendetta allegations over raid and arrest of Punjab minister
Enforcement Directorate action under the Prevention of Money Laundering Act was reported against Punjab industries minister Sanjeev Arora in connection with an alleged GST fraud-related money laundering case involving linked entities. Officials said he was arrested after raids at his residence, while Aam Aadmi Party leaders alleged the action was politically motivated, reflected misuse of central investigative agencies, and amounted to intimidation and harassment rather than genuine investigation.
May 9, 2026
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Money laundering probe alleges diversion of loan repayments through shell entities and fake RTGS instructions in Sravanthi Group case.
Money laundering allegations arose from an ED probe into the Sravanthi Group and entities controlled by D V Rao, including DJW Electric Power Projects Private Ltd and Sravanthi Energy Private Limited. The investigation alleged misuse of RTGS repayment instructions, diversion of loan repayments to shell entities, and routing of funds through fake lender details. The ED stated that the probe had identified proceeds of crime of about Rs 284 crore across the connected transactions, with a separate component of alleged loan fraud of about Rs 58 crore.
May 9, 2026
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Money laundering probe under PMLA draws political accusations of agency misuse after arrest and multi-location searches.
The Enforcement Directorate arrested a Punjab industries minister in a money laundering case under the Prevention of Money Laundering Act after raids at multiple locations. The investigation was linked to alleged fraudulent GST transactions and entities associated with the accused, while officials said he was non-cooperative during questioning. Congress leaders alleged that central and state agencies were being used to intimidate political opponents.
May 9, 2026
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Money laundering probe over alleged fake GST invoices and round-tripping leads to arrest of Punjab minister.
The Enforcement Directorate arrested Punjab industries minister Sanjeev Arora in a fresh Prevention of Money Laundering Act case linked to alleged GST fraud-related laundering. The probe concerns fake GST purchases, false input tax credit claims through non-existing firms, and alleged round-tripping of illegitimate funds through exports, following earlier FEMA searches, asset attachment, and related investigations involving entities linked to him.
May 9, 2026
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EU-India partnership deepens through free trade, security and mobility ties, with peace and stability central to cooperation.
The European Union and India have deepened their partnership through a joint strategic agenda, a concluded free trade agreement, a security and defence pact, and a mobility framework. The relationship is presented as strategically significant, with both sides described as trusted partners promoting global stability, prosperity and cooperation. The free trade agreement is expected to strengthen two-way trade, while the broader partnership is linked to peace, stability and support for Ukraine.
May 9, 2026
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Comprehensive Economic Partnership Agreement negotiations advance as India and Canada conclude the second round of talks.
India and Canada concluded the second round of negotiations on the proposed Comprehensive Economic Partnership Agreement under the agreed Terms of Reference, with discussions aimed at a balanced, ambitious, and mutually beneficial framework to strengthen bilateral trade and economic ties. The talks covered trade in goods, trade in services, intellectual property, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade, with further negotiations and intersessional engagements to continue.
May 9, 2026
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Trade and investment cooperation under TEPA gains momentum as India and Switzerland deepen regulatory engagement and business linkages.
India-EFTA TEPA implementation was advanced through discussions in Switzerland on trade, investment and business utilisation, with emphasis on resolving implementation issues early, reducing non-tariff barriers and strengthening regulatory cooperation. TEPA was presented as India's first trade agreement with the EFTA economies and its first operational trade arrangement with a European economic bloc, offering market access on 92.2% of tariff lines covering 99.6% of India's exports while safeguarding sensitive sectors. The engagement also targeted investment and technology partnerships in key industrial sectors.
May 9, 2026
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Affordable social security protection through Jan Suraksha schemes expands low-cost insurance and pension coverage for eligible account holders.
Affordable social security protection is extended through the Jan Suraksha framework comprising Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana, each designed to provide low-cost insurance or pension support through banks, post offices and participating institutions. PMJJBY provides life insurance cover for death due to any cause, PMSBY provides accidental death and disability cover, and APY provides guaranteed minimum monthly pension support for eligible bank account holders under the National Pension System architecture.
May 8, 2026
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Critical currency shortage strains rural cash access as banks limit withdrawals and face shortage of higher denomination notes.
Critical currency shortage in Nanded and parts of Marathwada prompted a letter to the RBI over limited cash availability during the wedding season and pre-sowing period. Banks reportedly imposed restrictions on high-value withdrawals, advised digital transactions, and dispensed smaller denomination notes because RBI cash supply was only a fraction of local demand, with Rs 500 notes in short supply.
May 8, 2026
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Rupee volatility strengthens as West Asia tensions, crude price movement, and foreign outflows weigh on currency sentiment.
The rupee recovered sharply against the US dollar and closed higher amid heightened geopolitical tension in West Asia, with market sentiment affected by renewed concern over energy supplies, movements in Brent crude, global risk aversion, and weakness in domestic equities. Forex traders also noted foreign institutional investor outflows and expected near-term volatility in the USD-INR range, while the dollar index eased, Brent crude traded near the USD 100 level, and India's foreign exchange reserves declined in the latest reporting week.
May 8, 2026
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Anticipatory bail in alleged GST refund fraud denied after suspicious fund transfers and need for custodial interrogation.
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May 8, 2026
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Workplace harassment and conversion allegations trigger POSH compliance push, with mandatory complaints committees and She-Box registration.
Allegations of religious conversion, sexual harassment, molestation and mental harassment at a private workplace led to police investigation, multiple FIRs and arrest of an absconding employee. The prosecution said the inquiry covered messaging platforms, online content and alleged conversion-linked conduct, while separate directions were issued for strict implementation of the POSH framework, including Internal Complaints Committees and She-Box registration for establishments employing 10 or more persons.
May 8, 2026
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Foreign exchange reserves decline as foreign currency assets and gold holdings fall while SDRs edge higher.
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May 8, 2026
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Fuel price stability drives heavy under-recoveries for oil companies as government shields consumers from global energy shock.
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May 8, 2026
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Financial inclusion expands in Bastar as new bank branches improve access to banking, welfare transfers and digital payments.
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May 8, 2026
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Fuel price stability amid global energy shock left oil companies absorbing heavy under-recoveries and higher input costs.
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May 8, 2026
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Plastic traceability rules drive India's circular economy, linking QR-coded packaging, verified recycling, and cross-border regulatory alignment.
India's plastic packaging traceability framework is described as operational, requiring every plastic packaging unit produced or sold in India to carry a machine-readable QR code or barcode linked to the manufacturer's registration on the Central Pollution Control Board's EPR portal, with cross-referencing to GST registration data. The text also describes Maharashtra enforcement activity, integration of informal waste workers into the verified supply chain under 2025 EPR amendments, and support for traceability-based import controls, technical alignment with the EU's Digital Product Passport, and a universal plastic traceability data standard.
May 8, 2026
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Tariff authority limits under trade law challenge the legality of global import surcharges imposed beyond statutory conditions.
US federal court decision examined the legality of a 10 per cent global tariff imposed under the Trade Act of 1974 and held that the statutory provisions invoked for the import surcharges were limited to a balance-of-payments crisis. The majority found that the government's reading of Section 122 would confer an impermissibly expansive tariff power and that the President's proclamation did not assert the conditions required by the statute for lawfully imposing the surcharge.
May 7, 2026
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Money laundering probes over forged land-use approvals, investor duping, and real estate proceeds of crime in Punjab searches.
Enforcement Directorate searches were conducted under the Prevention of Money Laundering Act in probes linked to two real estate groups accused of fraudulent change of land use, forged consent documents, and duping investors. The Suntec City matter concerns alleged fabricated landowner consents, collection of money without sale deeds, and subsequent projects based on the disputed land-use approval. The Altus matter concerns alleged misrepresentation of land-use approval, cancellation of the approval, and undervaluation in a later purchase of the project.

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Delhi Gymkhana seeks alternate land amid takeover row; nearly Rs 48 cr ground rent dues unpaid

May 26, 2026

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New Delhi, May 25 (PTI) The general committee overseeing Delhi Gymkhana Club on Monday urged the Centre not to disrupt the functioning of the institution, even as it emerged that three notices were sent to the club management since September last year over pending ground rent dues of around Rs 48 crore.

Sources in the Union Housing and Urban Affairs Ministry said that the last notice was sent in April, just weeks before the the eviction order issued on May 22.

Some members of the club on Monday alleged that they had not been informed in advance about the unpaid dues.

According to sources aware of the developments, the Land and Development Office (L&DO) had asked the club several times to deposit the pending ground rent through notices sent in September last year, March 2026 and April 2026.

In April this year, the L&DO cautioned that if the dues were not cleared within a week, it would proceed with steps to reclaim the property and resume possession of the club premises.

Meanwhile, in the letter to the L&DO on Monday, the general committee overseeing the club, constituted by the Government of India, requested the Ministry of Housing and Urban Affairs and the L&DO to consider allotting an alternative plot of land for relocation of the club in case the takeover proceeds.

One of the committee members said the interests of members, employees and other stakeholders should be protected before any decision affecting the club's operations is implemented.

The general committee said it had been working for over four years to improve the club's administration and financial condition after taking charge under the National Company Law Tribunal (NCLT) order of April 1, 2022.

It said the club had witnessed a financial turnaround under its tenure, with the projected profit and loss statement for 2023-24 showing a profit of Rs 9.25 crore against a loss of Rs 12.39 crore in 2021-22.

It said the turnaround was achieved without adding new memberships, which had earlier been a major source of revenue for the club.

It had streamlined administrative processes, introduced standard operating procedures across departments and reduced pending litigation, including labour disputes, the committee further said.

It also claimed that efforts had been made to digitise and update membership records, noting that nearly 43 per cent of such records were unavailable in 2022.

According to the letter, the committee members appointed by the Ministry of Corporate Affairs (MCA) were professionals working in an honorary capacity without any sitting fee, financial benefit or reimbursement of expenses.

The committee also said relocation of the club would require substantial expenditure for rebuilding infrastructure and facilities developed over several decades.

Meanwhile, members of the club held a meeting on Monday and termed the proposed takeover "illegal", while also raising concerns over what they described as selective action against the institution.

The members said "similar clubs should get similar treatment" and argued that the perception of the club as an illegitimate user of public land was "misleading", stating that the premises are actively used for sports, recreation and cultural activities by thousands of members and their families.

A member of the general committee said discussions were underway with officials of the L&DO and the Ministry of Housing and Urban Affairs to prevent the takeover.

"We are in regular conversation with the L&DO and officials in the Urban Development Ministry. We are trying our best to ensure that the club continues at its present location," he said.

The committee is also seeking protection for around 600 employees associated with the club in the event of relocation, the member added.

Members also said long waiting lists for membership reflected demand rather than illegitimacy and called for reforms in governance instead of the closure of the institution.

Established in 1913, the Delhi Gymkhana Club was described by members as one of the capital's oldest sporting and social institutions with heritage value beyond its commercial land worth. PTI SHB BUN SKY SKY

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