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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
Show AI Summary
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.
May 2, 2026
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Airline insolvency and shutdown prompt immediate wind-down, flight cancellations, refunds, and major job and market impact.
Spirit Airlines announced an immediate orderly wind-down of operations, cancelling all flights and ending customer service. The shutdown followed the failure to secure a government bailout amid severe financial distress, including repeated bankruptcy proceedings, heavy debt, rising operating costs and higher jet fuel prices. The company said customers could expect refunds, while about 17,000 jobs and competition in the budget airline market could be affected.

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PMLA / Black Money

ED raids at Vijayan''s residence spark violence, statewide CPI(M) protests in Kerala

May 27, 2026

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Thiruvananthapuram, May 27 (PTI) ED raids linked to the financial dealings between former Kerala Chief Minister Pinarayi Vijayan’s daughter's firm and a sand mining company triggered attacks on central agency officials in the state capital and statewide protests by CPI(M) leaders and workers on Wednesday.

Severe violence broke out outside Vijayan's rented residence after ED officials completed the raid and were leaving the premises.

Suspected CPI(M) workers attacked at least three vehicles, including the one carrying ED officials, outside Vijayan’s residence, even as the police failed to prevent the violent mob. There were six ED officials in the vehicle, including a woman.

The raids were carried out while eight central security personnel guarded the premises.

Hearing about the raids at the CPI(M) veteran's residence, party workers and activists from its allied organisations gathered outside Vijayan's rented house and staged a protest.

As the ED officials and central security personnel who took part in the raid left his home, the situation escalated, with protesters surrounding and blocking their hired vehicles and throwing stones and bricks at them, badly damaging the windshields, other windows and exterior rear-view mirrors.

The large number of protesters, shouting slogans against the ED and the Centre, kicked the vehicles, banged their fists and sticks on the windows and windshields, and even threw rotten eggs at them.

One of the drivers of the vehicles reportedly sustained an injury.

The ED officials then went to the Thampanoor police station to lodge a complaint against the protesters.

Police and central security personnel struggled to control the crowd as the vehicles, which also had a female official on board, were targeted during the incident.

Home Minister Ramesh Chennithala said that the Home Department and the Kerala Police had no prior information about the Enforcement Directorate (ED) raid.

"We were not informed, and police assistance was not sought. The ED used central forces to carry out the raids," he said.

The BJP strongly condemned the attack on ED officials, calling it an assault on the rule of law.

In a post on X, BJP state president Rajeev Chandrasekhar said, "Violence is the last refuge of the corrupt." Attacking officials on duty and obstructing an investigation is not a political protest. It is an assault on the rule of law, the BJP MLA said.

He alleged, "As usual, the Congress-led state government is keeping quiet to protect its political twin, the CPI(M).

He further added that the BJP-NDA would ensure that the investigation is not derailed.

Earlier, angry CPI(M) workers allegedly hurled helmets, plastic bottles and stones at security personnel deployed outside Vijayan's house while ED searches were underway inside.

Vijayan alleged that the ED searches at his premises were part of a targeted crackdown on opposition leaders across the country.

Speaking to reporters after ED officials concluded hours-long searches at his house at Bakery Junction, Vijayan said such actions would not weaken him or the CPI(M).

"This is only the beginning. Nobody should harbour the illusion that such actions can intimidate or weaken us," he said.

The veteran CPI(M) leader alleged that the BJP-led Centre has been using central agencies against opposition leaders since it came to power, and claimed that the action against him was also part of that strategy.

The ED carried out the raids a day after the Kerala High Court dismissed a petition filed by Cochin Minerals and Rutile Limited and its top officials challenging an Enforcement Directorate (ED) money laundering probe linked to alleged financial irregularities involving Vijayan’s daughter, Veena T, and her software firm Exalogic Solutions.

In a judgment delivered on May 26, Justice T R Ravi ruled that the ED was legally empowered to continue its investigation under the Prevention of Money Laundering Act (PMLA), even before the filing of a formal FIR or final report by the Serious Fraud Investigation Office (SFIO).

The company had approached the court seeking to quash the ED's Enforcement Case Information Report (ECIR), summons issued to its officials, and related proceedings. It argued that the ED lacked jurisdiction because no scheduled offence existed when the probe began.

The case traces back to Income Tax raids conducted in January 2019 at the company's offices and the residences of senior executives. Later, the Ministry of Corporate Affairs ordered an SFIO investigation into the company’s affairs following a complaint filed by BJP leader Shone George. During the hearing, the ED informed the court that the SFIO had since filed a complaint in April 2025 alleging offences under the Companies Act, including fraud provisions that qualify as scheduled offences under the PMLA.

As the raids were progressing at various locations, CPI(M) leaders and workers held protest marches in various districts across the state.

CPI(M) leader K N Balagopal alleged that the ED's "politically motivated witch-hunt targeting Comrade Vijayan" was part of a broader political agenda aimed at weakening the CPI(M) and the Left.

Responding to the CPI(M)'s charge, BJP leader V Muraleedharan said that Prime Minister Narendra Modi had "better things to do" than strike any deal with the Congress to target the CPI(M), which he said had limited national presence. PTI LGK HMP TGB ADB

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