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    Union Minister Of Commerce And Industry Shri Piyush Goyal Concludes Landmark Canada Visit
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    Rupee settles 12 paise higher at 95.58 against US dollar
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May 28, 2026
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India-Canada economic partnership deepens through expanded trade, investment and technology collaboration across emerging and strategic sectors.
India-Canada economic engagement was advanced through a high-level commerce and industry visit focused on strengthening bilateral trade, investment, technology collaboration and people-to-people ties. Discussions highlighted the role of the Indo-Canadian community, regional chambers, academia, business councils, institutional investors and innovation bodies, while underscoring the ongoing CEPA negotiations. Engagements also emphasized cooperation in artificial intelligence, quantum computing, cleantech, agritech, deep tech and other sectors including infrastructure, clean energy, critical minerals, logistics, healthcare, financial services and digital infrastructure.
May 28, 2026
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Transparent onion procurement and price protection sought for Maharashtra growers facing recurring losses and delayed relief.
Onion growers in Maharashtra have sought complete transparency in procurement operations, including disclosure of procurement quantities, farmer details and daily market-wise data, while questioning whether purchases are reaching all major producing districts. They also demanded compensation or subsidy support for farmers who sold below production cost, along with a permanent price protection mechanism and a dedicated Onion Corporation for systematic procurement, storage, processing and export.
May 28, 2026
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Homebuyers' fund diversion allegations prompt notices, ED status report, and broader scrutiny of stalled real estate projects.
Proceedings concerned a plea alleging siphoning and diversion of homebuyers' funds in real estate projects, with claims of non-construction use, transfers to related entities, and stalled or insolvent projects leaving buyers exposed to loss. The Court sought responses from multiple authorities and developers, and directed the ED to place a status report on the progress of its investigation, while submissions also urged expeditious investigation, provisional attachment of diverted assets, and RBI scrutiny of bank financing in stalled housing projects.
May 27, 2026
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Rupee exchange rate volatility reflects geopolitical tensions, strong dollar demand, weak equities and RBI policy watch.
The rupee closed marginally higher against the US dollar after trading in a narrow intraday range, with foreign exchange sentiment influenced by renewed geopolitical tensions, a strong dollar, weakness in domestic equity markets and foreign investor selling. Market participants also tracked the upcoming RBI Monetary Policy Committee meeting, while softer crude oil prices were seen as a supporting factor for the currency.
May 27, 2026
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Regulatory fairness in competition law requires legality, reasoned decision-making and equal treatment of foreign investors.
The Supreme Court set aside the penalty and suspension orders passed against Amazon concerning its investment arrangement with Future Coupons Pvt Ltd, and directed refund of any amount deposited or recovered. The Court held that regulatory authorities must act within statutory limits and with fairness, legality, reasoned decision-making, certainty and predictability, especially in economic regulation and cross-border investment matters. It also stated that fair treatment of foreign investors means equal treatment under the same law and procedural safeguards.
May 27, 2026
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Money laundering probe linked to ED raids, vehicle attack and arrests amid stand-off outside party office
Violent attack on vehicles carrying Enforcement Directorate officials led to arrests, with police identifying several persons as directly involved and maintaining a presence outside a CPI(M) office during a stand-off. The ED action formed part of a wider money laundering probe linked to financial dealings between a former Chief Minister's daughter's firm and a sand mining company, arising from questions over transactions between CMRL and a now-defunct firm under a Prevention of Money Laundering Act case.
May 27, 2026
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Money laundering probe over alleged illegal nightclub operations leads to fresh asset attachment and proceeds of crime claims.
Provisional attachment under the Prevention of Money Laundering Act was made in relation to the alleged illegal operation of a Goa nightclub, with fresh immovable assets attached and the cumulative attachment and freezing in the case stated to have increased. The ED alleged continued commercial activity without mandatory statutory clearances, use of forged documents to obtain licences, and treatment of the revenue generated as proceeds of crime under the anti-money laundering law.
May 27, 2026
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Election administration and commercial regulation dominate Supreme Court updates on voter rolls, GST, tribunal practice, and online gaming.
Election administration and electoral procedure featured prominently, with the Supreme Court upholding the Election Commission's power to conduct a Special Intensive Revision of voter rolls and leaving to the Commission a plea to modify VVPAT guidelines. The Court also said the ongoing trial in the 2023 Manipur ethnic violence should be expedited, and it addressed online hearings, language policy, transgender law challenges, retrospective GST on online gaming, tribunal practice restrictions, and the Amazon-Future Group dispute.
May 27, 2026
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Electoral roll verification framework upheld as Aadhaar remains only an identity document, not proof of citizenship.
The Supreme Court examined the Election Commission's documentation framework for the Special Intensive Revision of electoral rolls and its authority to classify documents by evidentiary value. It recognised electoral roll preparation as a constitutional function requiring verification of residence, identity and eligibility, and said the Commission may design reasonable procedures suited to the survey. Aadhaar is not proof of citizenship or domicile, though it may be used for limited identity verification, and ration cards may be excluded for evidentiary unreliability.
May 27, 2026
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Financial inclusion outreach boosts bank lending, CSR support, and service access through flagship schemes in Tripura.
Credit outreach programme in Agartala, Tripura, facilitated disbursement of loans through participating banks under Government of India flagship schemes, with financial support extended to beneficiaries and project-related sanctions handed over during the event. The programme also included CSR-linked assistance, including ambulances and medical equipment funding, along with the virtual inauguration of a bank branch, an ATM, and customer service points across Tripura. The Secretary, Department of Financial Services, highlighted the implementation of government flagship financial inclusion schemes in Tripura, including PM Jan Dhan Yojana, PM MUDRA Yojana, PM Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana, and Atal Pension Yojana.
May 27, 2026
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Money laundering probe under PMLA continued despite no formal FIR, as the High Court upheld ED's jurisdiction.
Enforcement Directorate action proceeded in relation to alleged financial irregularities linked to a company associated with a former chief minister's daughter, after earlier income tax searches and an SFIO investigation. The company sought to quash the ECIR, summons and related proceedings, arguing that no scheduled offence existed when the PMLA probe began and that the ED lacked jurisdiction before a formal FIR or final report. The Kerala High Court held that the ED was legally empowered to continue the money laundering investigation.
May 27, 2026
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Financial inclusion outreach promotes productive credit use, entrepreneurship and disciplined borrowing to support livelihoods and prevent bad loans.
Financial inclusion initiative was advanced through a credit outreach programme at Udaipur, District Gomati, Tripura, where banks sanctioned loans to beneficiaries and NABARD and SIDBI announced additional project funding. CSR assistance was also extended for improving school and anganwadi infrastructure, and a cluster development branch of SIDBI was inaugurated to support the MSME sector and regional borrowers. The Department of Financial Services also unveiled the Financial Inclusion 2.0 Vision Document as part of the outreach effort. The Secretary, Department of Financial Services, emphasised productive credit utilisation, entrepreneurship-led employment generation and financial discipline, and urged beneficiaries to prevent loan accounts from turning into non-performing assets.
May 27, 2026
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Bilateral trade negotiations advance as India and the United States discuss an interim agreement and broader market access issues.
India and the United States have continued negotiations toward an Interim Agreement within the broader Bilateral Trade Agreement framework, with the U.S. negotiation team visiting India to advance the interim arrangement and broader BTA talks. The discussions are proposed to cover market access, non-tariff measures, customs and trade facilitation, investment promotion, and economic security alignment.
May 27, 2026
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Bilateral trade pact negotiations continue as India and the United States revisit tariffs, market access, and supply chain cooperation.
India and the United States are continuing negotiations on an interim bilateral trade pact and the broader bilateral trade agreement, with the planned talks focused on finalising the legal text and addressing market access, non-tariff measures, customs and trade facilitation, investment promotion, and economic security alignment. The proposed framework includes tariff reductions, expanded market-opening commitments, and recalibration of the agreement in light of the changed US tariff environment, alongside cooperation on critical minerals and related supply chains.
May 27, 2026
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Money laundering probe targets alleged fraudulent payments and related transactions linked to CMRL and connected entities
The Enforcement Directorate searched premises linked to former Kerala chief minister Pinarayi Vijayan, his family members and persons associated with CMRL in a money laundering probe under the Prevention of Money Laundering Act. The case concerns alleged fraudulent payments to Exalogic Solutions Private Limited, loans allegedly advanced despite repayment defaults, and related transactions said to have generated proceeds of crime. The agency acted on the basis of a Serious Fraud Investigation Office prosecution complaint treated as the predicate offence.
May 27, 2026
Show AI Summary
Interim trade agreement talks between India and the United States advance with focus on market access and trade facilitation.
Trade negotiations between India and the United States are continuing through an upcoming visit by the US chief negotiator's team to India to finalise the details of an interim trade agreement and advance the broader bilateral trade agreement framework. The discussions concern reciprocal and mutually beneficial trade and are expected to address market access, non-tariff measures, customs and trade facilitation, investment promotion, and economic security alignment.
May 27, 2026
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Rupee pressure from US-Iran tensions and strong dollar keeps currency range-bound ahead of RBI policy meeting
The rupee settled largely unchanged against the US dollar amid cautious sentiment driven by renewed US-Iran tensions, a stronger dollar and weak domestic equities. Foreign institutional outflows added pressure, while softer crude oil prices provided limited support. Market attention also turned to the upcoming RBI Monetary Policy Committee meeting, and traders expected the dollar-rupee pair to remain range-bound in the near term.
May 27, 2026
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Independence of the judiciary guides the bar on former tribunal members practising before the same tribunal system.
Retired judicial and technical members of the National Company Law Tribunal and the National Company Law Appellate Tribunal are prohibited from appearing, acting, pleading, or otherwise practising as advocates or consultants before those tribunals. The challenge concerned a regulation imposing a complete bar on such practice by former tribunal members, with the petitioner contending that a cooling-off period should replace the prohibition.
May 27, 2026
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PMLA money-laundering probe over alleged illegal payments continues after a challenge to the proceedings was dismissed.
Enforcement action under the Prevention of Money Laundering Act concerns alleged illegal payments by a private company to a firm linked with Veena T, following complaints and tax-related scrutiny of the transactions. The investigation led to searches at multiple premises, while a writ petition challenging the proceedings was dismissed, leaving the agency free to continue its probe.
May 27, 2026
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Online filing of ITR-2 is enabled for capital gains taxpayers without business income on the e-filing portal.
Online filing and Excel utility for ITR-2 have been enabled on the e-filing portal for assessment year 2026-27, allowing eligible individuals and Hindu undivided families with capital gains income, but no business or profession income, to begin filing returns.

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Corp. Laws / SEBI / IBC

Large number of voter, Aadhaar cards found at TMC office in Kolkata's Tangra

May 28, 2026

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Kolkata, May 28 (PTI) A large number of voter ID, Aadhaar and ration cards were allegedly recovered from a local TMC office in Kolkata's Tangra area on Thursday, police said.

Nearly 300 identity documents were found inside an almirah at the party office located in Tangra Second Lane in ward no 57, they said.

BJP workers claimed the cards had been deliberately kept at the office to stop people from exercising their franchise.

"Everything is coming out in the open now. These cards were allegedly withheld so that people could not cast their votes," a BJP member alleged.

A local resident, Soumen Vicky Das, claimed that his Aadhaar card had gone missing before the elections, and he found it among the recovered documents at the party office.

"My Aadhaar card had disappeared before the polls. I came here and recovered it from among the seized documents," he told reporters.

Local claimed that no TMC workers had been seen at the office since the election results were declared on May 4.

"People from the locality entered the office after it had remained abandoned for days and found the documents," a local claimed.

The TMC did not immediately respond to the allegations.

Police said no formal complaint had yet been lodged, but the matter was being examined. PTI SCH SOM

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Acts Income Tax