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    Clarification on false claims on monetisation of temple gold holdings
    Adani settles alleged Iran sanctions violation case with US Treasury
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May 19, 2026
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Temple gold monetisation rumours denied; official communications confirm no approved scheme or strategic reserve classification.
False claims regarding a proposed monetisation scheme for temple gold holdings are expressly denied. Assertions that the Government plans to issue gold bonds to temples in exchange for temple gold reserves, or that any such proposal has been approved, are stated to be completely false, misleading, and without basis. Claims that gold plates on temple towers, doors, or other temple structures would be treated as Strategic Gold Reserves of India are also denied as baseless.
May 18, 2026
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Sanctions compliance settlement follows alleged Iran-linked LPG shipments, with cooperation, self-disclosure and remedial controls credited.
Civil sanctions liability arising from alleged Iran-related LPG shipments was settled with the U.S. Treasury Department's Office of Foreign Assets Control, without any admission of the allegations. The company's purchases from a Dubai-based trader were alleged to have involved LPG that originated from Iran, despite being represented as Omani and Iraqi supply. OFAC credited extensive cooperation, proactive self-disclosure, suspension of LPG imports, and strengthened sanctions compliance measures across the corporate group.
May 18, 2026
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Supply shock monitoring shapes RBI's data-dependent inflation stance as temporary price spikes may be looked through.
The Reserve Bank of India is monitoring whether supply shocks become embedded in the general price level and require monetary policy action. Temporary first-round effects may be looked through, but sustained increases that raise wages, production and transportation costs and generate broader inflation may call for tighter policy. A wide inflation tolerance band provides space to absorb short-run volatility while keeping the medium-term focus on price stability and data-dependent policy.
May 18, 2026
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Sanctions compliance and voluntary self-reporting led to a reduced OFAC settlement for Iranian-origin LPG import allegations.
Adani Enterprises settled an OFAC sanctions matter involving apparent violations linked to imports of Iranian-origin LPG through Mundra Port by agreeing to pay USD 275 million. The company said the resolution did not constitute a finding of guilt or wrongdoing and resolved all related liabilities. OFAC reduced the amount after voluntary self-reporting, proactive disclosure, cooperation, and corrective compliance steps, including strengthened sanctions controls and enhanced internal measures across the corporate group.
May 18, 2026
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Rupee pressure and forex controls intensify as rising oil prices, dollar strength, and import curbs weigh on currency stability.
The rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign investor outflows. Market participants noted that the exchange rate remained under pressure from global sentiment and elevated oil prices. The commentary also noted that RBI intervention and restrictions on imports of gold and silver could support the rupee at lower levels, while higher import duty and licensing controls on precious metals were intended to curb non-essential imports and reduce forex outflows.
May 18, 2026
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Raw jute shortage and trade restrictions push jute mills toward closure, prompting demands for stock release and import relief.
Raw jute shortages, steep price escalation, and trade restrictions have disrupted jute mill operations in West Bengal, leaving mills without a transparent reference price or workable procurement conditions. Millers seek release of residual stocks, easing or withdrawal of stock and trade restrictions, permission for emergency imports, and restoration of a viable price corridor for raw jute. They also urge abolition of agricultural marketing fees and improved payment discipline to suppliers to stabilise supplies and protect employment across the jute belt.
May 18, 2026
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Tribunal infrastructure and capacity need urgent strengthening to support the NCLT and NCLAT insolvency framework.
Institutional strengthening of the NCLT and NCLAT is urged because of their central role in India's company law and insolvency framework. The concerns include permanent and modern infrastructure, uninterrupted courtroom operations, reliable power backup, additional bench strength, permanent staffing, and better support for judicial and technical members. A review of the compulsory rotation policy is also requested to improve continuity and specialisation within the tribunal system.
May 18, 2026
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Industrial policy incentives drive investment, jobs, exports and sector-specific manufacturing growth across Haryana's new policy framework.
Haryana approved the Make in Haryana Industrial Policy 2026 as the State's principal industrial policy, replacing the 2020 framework and reclassifying industrial areas into core, intermediate, sub-prime and prime/focus categories. The policy is designed to attract large-scale investment, expand employment, increase exports and extend financial incentives across all blocks, including capital subsidy, R&D support, recruitment-linked incentives, export promotion measures and green-industry facilitation. It also provides for net SGST reimbursement, sector-linked assistance for large, mega and ultra mega units, and interest on delayed investor payments after 1 April 2026.
May 18, 2026
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Provisional attachment of properties under fugitive economic offender and money-laundering laws over alleged proceeds of crime linked to Mirchi family assets.
Provisional attachment of assets under the Fugitive Economic Offenders Act and money-laundering framework has been made in connection with the alleged proceeds of crime linked to late gangster Iqbal Mirchi and his family. The attached assets include three Worli properties in Mumbai and overseas properties in Dubai, with the investigation attributing ownership and control to Mirchi and his associates despite the properties standing in the name of a trust or other entities on paper. The enforcement action arises from multiple police FIRs concerning alleged organised criminal activity, including drug trafficking, extortion and illegal arms activity. The investigation states that the properties were allegedly acquired through laundering of proceeds generated from those activities.
May 18, 2026
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Russian crude sourcing remains driven by commercial viability and energy security despite the expiry of a sanctions waiver.
India continues to source Russian crude oil on the basis of commercial viability, adequate supply availability and energy security, and the expiry of a temporary US sanctions waiver does not change that approach. Procurement is described as continuing so long as it remains commercially sensible and supply is available. Russian oil remains a core part of India's import basket, with sourcing structured to avoid sanctioned sellers, intermediaries and vessels and to use compliant financial, insurance and trading channels.
May 18, 2026
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Money laundering investigation leads to judicial custody amid alleged GST fraud, shell companies, and benami property transactions.
Punjab minister Sanjeev Arora was placed in judicial custody in connection with an alleged money laundering investigation arising from claims of GST fraud, suspicious property purchases, shell company routing, and benami holdings. The Enforcement Directorate stated that its questioning had been completed and that it was preparing to file a charge sheet. The investigation also reportedly extended to family members through summons and notices, with some relatives questioned and released.
May 18, 2026
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Intensive audit of power discoms follows court directions on regulatory assets and limited audit scope.
The Delhi Electricity Regulatory Commission has initiated an intensive audit of Delhi distribution companies through a CAG-empanelled chartered accountancy firm after issuing a tender in line with Supreme Court directions. The audit is tied to the liquidation of accumulated regulatory assets and is confined to examining the circumstances in which the distribution companies continued without recovery of those assets, rather than a comprehensive financial audit. The process follows the Appellate Tribunal for Electricity's ruling that the earlier proposal for a CAG-conducted audit was not required by the Supreme Court and was contrary to the governing framework.
May 18, 2026
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Silver import restrictions lift domestic prices as gold stays flat amid rupee weakness and global bullion pressure.
Gold prices remained flat in the domestic bullion market, while silver prices edged higher after fresh restrictions were imposed on imports of silver in nearly all forms. The market reaction reflected expectations that tighter import availability could raise local premiums and support domestic silver prices, even as global bullion markets weakened. Domestic gold prices stayed resilient despite international softness because the rupee weakened to a record low, cushioning the decline in local rates.
May 18, 2026
Show AI Summary
Export growth strategy links free trade agreements, import substitution, and Swadeshi to strengthen India's domestic manufacturing base.
India has set an export target of USD 1 trillion for the current year and USD 2 trillion over the next five years, supported by free trade agreements with nearly 38 developed countries, import substitution efforts, and promotion of Swadeshi. The statement also stresses quality, productivity, domestic manufacturing, MSME growth, and wider use of UPI and RuPay to strengthen exports and reduce import dependence.
May 18, 2026
Show AI Summary
Bail as the norm in UAPA cases shapes liberty analysis even where drug trafficking and terror financing are alleged.
Bail continues to be treated as the norm and jail as the exception even in UAPA matters, including cases alleging drug trafficking and terror financing. The gravity of the accusation by itself does not displace the governing bail principle, and personal liberty remains a central consideration in criminal procedure despite the special statutory framework involved in such prosecutions.
May 18, 2026
Show AI Summary
Rupee weakness and forex pressure prompt tighter precious metal import controls to curb dollar outflows and support external stability.
The Indian rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign portfolio outflows. The government tightened controls on precious metal imports to reduce forex outflows and restrain non-essential imports by raising import duty on gold and silver and placing silver under a licensed import regime.
May 18, 2026
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Market resilience and domestic investor confidence help Indian markets absorb global shocks and recover after volatility eases.
Indian markets are described as resilient enough to absorb external shocks arising from global crises, including conflict-driven volatility, supply chain disruption, inflationary pressure, spillover effects and second-order effects. The market impact of international developments is presented as natural in an interconnected global system, while the domestic market is said to regain its normal trajectory after the shock subsides. The statement also notes foreign portfolio investment outflows since September 2024, alongside continued confidence among domestic investors.
May 18, 2026
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Money laundering summons challenge withdrawn as the petitioner exited the High Court plea, leaving contentions open for trial proceedings.
A petition challenging a trial court summons in a money laundering case arising from a Haryana land deal was unconditionally withdrawn before the Delhi High Court, with all rights and contentions kept open. The underlying dispute involved prosecution under the Prevention of Money Laundering Act, a chargesheet filed by the Enforcement Directorate, and an argument that the alleged predicate offences were not scheduled offences at the relevant time.
May 18, 2026
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Rupee pressure intensifies as oil prices, dollar strength and import curbs shape forex management measures.
The rupee weakened sharply amid elevated crude oil prices, a stronger US dollar, global uncertainty and geopolitical tensions. Market participants said the government and the RBI had begun proactive measures, while separate import curbs were reported for silver after higher customs duty on precious metals, with the stated aim of controlling forex outflows by curbing non-essential imports.
May 18, 2026
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Intra-BRICS trade and economic cooperation gain emphasis through calls for stronger value chains, services trade and MSME support.
BRICS trade and economic cooperation was highlighted as a growing platform for emerging markets and developing economies, with intra-BRICS merchandise trade described as having expanded sharply over time and still retaining significant untapped potential. The deliberations focused on strengthening the multilateral trading system, supporting the internationalisation of Micro, Small and Medium Enterprises, improving the resilience and diversification of global value chains, and expanding services trade.

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PMLA / Black Money

ED raids on Vijayan's residences 'politically motivated': CPI(M) gen secy M A Baby

May 27, 2026

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Thiruvananthapuram/New Delhi, May 27 (PTI) CPI(M) general secretary M A Baby on Wednesday alleged that the ED raids at the residences of former Kerala CM Pinarayi Vijayan and others were "politically motivated" and termed them as a "heinous attack".

Speaking to reporters in Delhi, Baby said the CPI(M) will prove before the people that the raids were "politically motivated".

Citing reports, he claimed that two ministers in the cabinet of current Chief Minister V D Satheesan also allegedly received money from the Cochin Minerals And Rutile Ltd (CMRL) and the same should have been investigated.

"That was the first thing which should have been investigated," he contended.

He said such moves will not intimidate the CPI(M) or Vijayan and "anyone who thought it would, did not know the party or its leader very well".

Recalling Vijayan's past experience as a Communist leader, CPI(M) leader Baby said that the former Kerala CM was arrested and faced brutal police assault when he was a young MLA during the emergency declared by Indira Gandhi.

"There have been many such bad experiences as far as he (Vijayan) and CPI(M) are concerned. The Congress government tried to target us by accusing us of being foreign spies.

"Now, the neo-fascist government under Narendra Modi is trying to eliminate (opposition) political parties through intimidation," he alleged, referring to the action taken against AAP leaders Arvind Kejriwal and Manish Sisodia.

Baby also contended that prominent leaders of the Congress and the UDF had been publicly questioning why no action was being taken against Vijayan by central agencies.

"I don't know if they are satisfied now, following these raids," he added.

The CPI(M) general secretary also claimed that the allegations against Vijayan's daughter Veena were "fabricated".

In a post on X, Baby raised questions over the political context of the raid.

"Is the Congress-led UDF in Kerala complicit in this raid?" he asked, suggesting that the episode warranted scrutiny over possible political coordination.

In his reaction, Senior CPI(M) leader P Jayarajan alleged that the ED raids at the residence of Vijayan and others were part of a "joint Congress-BJP operation" and their "grand design".

Speaking to reporters outside Vijayan's home in Kannur, he said the searches followed the meeting between Kerala CM V D Satheesan and Prime Minister Narendra Modi.

"Menon Satheesan and Modi had a meeting. Right after that, raids were carried out at the permanent and rented homes of Vijayan and the house of his son-in-law P A Mohamed Riyas." "This is all part of a clear planning, a grand design. I believe the people will see it for what it truly is," he added.

As the ED raids continued, CPI(M) leader Muhammad Riyas said his party would not "bow before the Sangh Parivar".

In a Facebook post, Riyas, who is also Veena's husband and a CPI(M) state secretariat member, said, "You may surround and attack us however you want. But we will not bow before the Sangh Parivar. We will continue fighting until our final breath." CPI(M) state secretary M V Govindan told reporters in Thiruvananathapuram that the case against Vijayan was “deliberately fabricated” and asserted that there was no evidence against either the former chief minister or anyone associated with him.

“What is happening against Pinarayi Vijayan now is a politically motivated attack and an exercise in imagination,” he said.

According to him, even the Delhi High Court had earlier “thrown the allegations into the dustbin” by observing that there was no substance in them.

There was not even an FIR in the matter, and the Kerala High Court had only permitted further probe into the allegations.

The CPI(M) leader said the raids were the latest example of attempts to politically attack the party in Kerala through investigations against Vijayan.

Defending Veena Vijayan, the Left leader said the payments made by Cochin Minerals and Rutile Ltd (CMRL) to her company were towards services rendered by the firm and not illegal transactions.

A total of 10 premises in Kerala, including the rental house of the 81-year-old former CM in the state capital here, a location in Kannur and houses of key persons of CMRL, a private entity, are being raided by ED as part of its investigation against his daughter, Veena, in the CMRL money laundering case.

The action was taken a day after the Kerala High Court dismissed a writ petition filed by CMRL seeking to quash the ED proceedings in the case, thereby allowing the central agency to continue its probe.

As per the ED's case, registered under the Prevention of Money Laundering Act (PMLA) in 2024, CMRL made an illegal payment of Rs 1.72 crore to Veena's company, Exalogic Solutions, during 2017 to 2020, even though the IT firm had not provided any service to the company.

The ED probe stems from a complaint filed by the Serious Fraud Investigation Office (SFIO), an investigative arm of the Ministry of Corporate Affairs.

The SFIO followed after the interim board for settlement of the Income Tax Department questioned the legitimacy of certain transactions undertaken by CMRL with Veena's now-defunct firm.

Baby claimed that the raids were carried out despite Veena cooperating with the SFIO and ED probes. PTI HMP AO LGK TGB HMP ROH

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