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    ED raids ex-Kerala CM Pinarayi Vijayan's house, others in CMRL-linked money laundering case
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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
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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.
May 27, 2026
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Election roll revision powers, money-laundering searches and exam leak arrests feature in a packed set of legal developments.
The highlights report election-related, enforcement and criminal investigation developments, including the Supreme Court's view on the Election Commission's power to conduct a Special Intensive Revision of voter rolls for fair elections, searches in a money-laundering investigation, arrests in the NEET UG paper leak case, and comments that the proposed Uniform Civil Code Bill is intended to protect women's rights and is not against any religion.
May 27, 2026
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PMLA investigation over CMRL payments triggers political motivation claims and continued scrutiny of the ED raids.
ED raids were reported in a PMLA investigation linked to alleged payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions, the company associated with Veena Vijayan. The probe stemmed from an SFIO complaint and earlier scrutiny by the Income Tax Department settlement board, while the Kerala High Court had dismissed CMRL's writ petition to quash the ED proceedings. CPI(M) leaders alleged the raids were politically motivated and maintained that the payments were for services rendered, not illegal transactions.
May 27, 2026
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Anti-trust challenge over Amazon's investment deal leads to setting aside of penalty and deal suspension orders.
Challenge to anti-trust action concerning Amazon's investment deal with Future Group. The Supreme Court set aside the NCLAT order that had rejected Amazon's appeal, and also set aside the Competition Commission of India's order imposing a penalty and suspending the deal. The Court further directed refund of any amount deposited or recovered from Amazon pursuant to the impugned orders within eight weeks.
May 27, 2026
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Merger approval and share issuance in the absorption of Indovida India into EPL Limited in the packaging sector.
Competition Commission of India approved the proposed merger of Indovida India Private Limited with and into EPL Limited by way of absorption. EPL, as the post-merger resultant entity, is to issue and allot shares on a proportionate basis to the shareholders of Indovida India in consideration of the merger. Indovida India is a wholly owned subsidiary within the Indorama group, while EPL is engaged in the manufacture and sale of packaging products.
May 27, 2026
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Joint venture approval for commodities trading entity reflects CCI clearance of the Mercuria-Tata combination.
Competition Commission of India approved the creation of a joint venture company between Mercuria Energy Netherlands B.V. and Tata International Singapore (Pte) Ltd., including the associated pre-closing restructuring and transfers. The target is to be established in the Dubai International Financial Centre, United Arab Emirates, as a commodities trading and investment entity. The joint venture is proposed to trade commodities through subsidiaries in various jurisdictions, including India.
May 27, 2026
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Strategic disinvestment through competitive bidding led to approval of the highest bidder as strategic buyer for full equity sale.
Strategic disinvestment of Indian Medicines Pharmaceutical Corporation Limited was implemented through a two-stage open competitive bidding process for sale of 100% equity shareholding with transfer of management control. After Expressions of Interest, due diligence, security clearance, and issuance of the Request for Proposal and Share Purchase Agreement, two financial bids were received and evaluated as technically qualified. The highest bidder, M/s. Skymap Pharmaceuticals Private Limited, emerged above the reserve price and was approved as the strategic buyer.
May 27, 2026
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Regional rural bank performance review emphasizes digital banking expansion, financial inclusion, and stronger asset quality in rural areas.
Review of the performance of North-Eastern Regional Rural Banks focused on business results, implementation of Government and State schemes, and the operational priorities expected of the sector. The Secretary, Department of Financial Services noted the role of RRBs in the rural economy, their wide rural presence, public trust, and the need to sustain improvement in profits, asset quality, and loan diversification. The review also highlighted sponsor bank support, digital banking expansion, and deeper financial inclusion in unbanked and underserved rural areas.
May 27, 2026
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Bilateral trade cooperation deepens as India and Canada reaffirm CEPA talks, investment ties, and trade expansion goals.
Bilateral trade and investment cooperation between India and Canada were advanced through high-level meetings focused on strengthening business ties, technology partnerships, and negotiations for a Comprehensive Economic Partnership Agreement. The two sides reaffirmed their shared objective of expanding bilateral trade to USD 50 billion by 2030 and concluding CEPA talks by the end of the year, while also signalling continued engagement through ministerial dialogue and an upcoming trade mission to India.
May 27, 2026
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Currency stability concerns shape rupee movement as crude prices, dollar demand and RBI policy expectations weigh on markets.
The rupee weakened in early trade amid higher crude oil prices and renewed US-Iran geopolitical tensions, with safe-haven demand lifting the dollar. Market attention shifted to the upcoming RBI Monetary Policy Committee meeting, where traders debated whether currency stability may be prioritised alongside inflation management and whether monetary measures could be used to support the rupee and attract inflows.
May 27, 2026
Show AI Summary
Money laundering investigation under the Prevention of Money Laundering Act led to searches over alleged improper CMRL payments.
Enforcement Directorate conducted searches at multiple premises in Kerala in connection with a money laundering investigation under the Prevention of Money Laundering Act, including premises linked to Cochin Minerals And Rutile Ltd and the residence of former chief minister Pinarayi Vijayan. The case concerns allegations that CMRL made payments to Exalogic Solutions despite no services being rendered, following a complaint by the Serious Fraud Investigation Office.
May 27, 2026
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LNG export deal supports Canada's trade diversification as Ksi Lisims advances toward investment decision.
Canada has agreed to export liquefied natural gas to Germany through the proposed Ksi Lisims export facility on the British Columbia coast. The arrangement with Germany's SEFE group contemplates annual exports of up to 1 million metric tons of LNG. The project already holds the necessary permits, but a final investment decision has not yet been made, and securing offtake agreements remains a key step before construction can begin.
May 26, 2026
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Comprehensive economic partnership negotiations between India and Canada move toward early conclusion, covering goods, services and investment.
India and Canada are negotiating a proposed Comprehensive Economic Partnership Agreement in mission mode, with both sides expressing optimism that the trade pact could be concluded before the end of 2026 and possibly by October or before the G20 Summit. The talks have resumed after a pause in 2023, two rounds have been completed, and the third round is underway in Ottawa, with the stated objective of finalising a comprehensive economic partnership covering goods, services and investment.
May 26, 2026
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Perpetual lease termination and due process concerns arise over proposed possession of Delhi Gymkhana Club premises.
Termination of the Delhi Gymkhana Club's perpetual lease and the proposed handover of the premises were challenged on the ground that the stated defence-infrastructure rationale lacked genuine public purpose, that the action was contrary to Article 300A, and that compensation had not been addressed. The Centre stated that any eviction would be undertaken only in accordance with law and after due notice, with compensation possibly by money or alternative land. In view of that statement and the absence of material showing eviction proceedings, no interim directions were considered necessary at that stage.
May 26, 2026
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Money laundering investigation linked to alleged drug smuggling syndicate prompts searches in Chennai and Madurai.
Enforcement Directorate searches were conducted in Chennai and Madurai in a money laundering investigation linked to an alleged syndicate said to have smuggled drugs from India to Sri Lanka by sea. The case arises from Directorate of Revenue Intelligence cases concerning seizure of hashish from a fishing boat and recovery of methamphetamine at Madurai railway station. Britto was described as the alleged mastermind of the syndicate, with fishermen and boat owners allegedly used for transportation through Indian waters.

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Customs & Trade

UK Trade Secretary Peter Kyle to visit India to ramp up FTA implementation

June 1, 2026

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London, Jun 1 (PTI) UK Business and Trade Secretary Peter Kyle will visit New Delhi this week to ramp up the implementation of the bilateral Free Trade Agreement (FTA) and unlock a “timely boost” for both economies, the British government said on Monday.

Kyle is set to arrive in New Delhi on Tuesday for talks with Commerce and Industry Minister Piyush Goyal, which will be focussed on bringing the India-UK Comprehensive Economic and Trade Agreement (CETA) – dubbed a “priority for both governments” – into force “as quickly as possible”.

The trade deal, expected to significantly boost the two-way trade partnership worth 48 billion pounds a year, had hit some delays over Britain’s upcoming steel import restrictions.

“From whisky to automotives, this landmark deal will unlock massive opportunities for businesses and consumers in the UK and India,” Kyle said in a pre-visit statement.

The senior Cabinet minister stated that his visit to Delhi will help “progress implementing this win-win agreement, which is worth billions to our economies”.

“I look forward to working with Piyush Goyal to make sure everybody can start to feel the benefits as soon as possible,” he added.

The UK government said the Business and Trade Secretary’s visit to India at a time of rapid global change signals the country’s determination to unlock the next phase of its modern economic partnership with India, so it can deliver growth for people in both countries.

The FTA will liberalise 99 per cent of UK tariffs and 90 per cent of Indian tariffs, supporting cheaper, quicker, and easier exports and trade between our markets, it stated.

While in New Delhi, Kyle will also meet Indian and British industry leaders with the aim of supporting businesses to prepare for the CETA coming into force.

“The UK-India FTA is the biggest and most economically significant bilateral trade deal the UK has agreed since leaving the European Union. It covers 30 chapters – including standalone chapters on gender, innovation, environment, and labour – making it one of the most comprehensive trade deals that India has ever signed,” reads a UK government statement.

Kyle’s visit this week coincides with fellow Cabinet minister, Foreign Secretary Yvette Cooper, who is set to arrive in India from China for talks with External Affairs Minister S Jaishankar on Thursday.

The British government noted that as global conflicts, including the continued blockade of the Strait of Hormuz, cause economic shocks across the world’s biggest economies, it sees advancing the UK’s “vital economic partnership with India as a key priority, with significant mutual benefits”.

Kyle’s visit to India this week follows a high-powered UK trade mission to Mumbai in October last year.

At the time, he was part of the British Prime Minister Keir Starmer-led delegation of 125 of the country’s leading CEOs, entrepreneurs and business leaders to unlock significant opportunities for businesses across numerous sectors in India.

The trade delegation built on the signing of the India-UK CETA and ‘Vision 2035’ during Prime Minister Narendra Modi’s visit to the UK in July 2025.

According to the UK Department for Business and Trade (DBT) projections, the India-UK FTA could increase yearly bilateral trade by 25.5 billion pounds and boost GDP by nearly 5 billion pounds each in the long run for both countries. PTI AK GSP GSP

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