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    SC refers applicability of IBC moratorium sections in cheque bounce cases to 3-judge bench
    Insolvency and Bankruptcy Code (IBC) completes 10 years
    Large number of voter, Aadhaar cards found at TMC office in Kolkata's Tangra
    12th Round Of India-Korea CEPA Upgrade Negotiations Held In New Delhi
    Union Minister Of Commerce And Industry Shri Piyush Goyal Concludes Landmark Canada Visit
    Maharashtra onion growers association seeks transparency in procurement process
    SC seeks responses of Centre, ED, RBI on plea alleging siphoning of homebuyers’ funds
    Rupee settles 12 paise higher at 95.58 against US dollar
    SC allows Amazon's appeal, sets aside order imposing Rs 202 crore penalty
    Attack on vehicles of ED officials outside Vijayan's house; police arrest 4 persons
    Goa nightclub blaze: ED attaches fresh assets worth Rs 11 cr
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    Aadhaar is not proof of citizenship, says SC; upholds EC's documentation regime for SIR
    Department of Financial Services Organises Credit Outreach Programme at Agartala, Tripura.
    ED raids at Vijayan''s residence spark violence, statewide CPI(M) protests in Kerala
    Department of Financial Services Organises Credit Outreach Programme at Udaipur, Tripura.
    Visit of the delegation from United State (U.S.) for discussions on Bilateral Trade Agreement (BTA) between India and the United States from 1 -4th Ju...
    US team to visit India from Jun 1-4 on finalisation of details on interim trade pact
    ED raids ex-Kerala CM Pinarayi Vijayan's house, others in CMRL-linked money laundering case
    US team to visit India from June 1-4 for trade talks
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May 28, 2026
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IBC moratorium and cheque bounce prosecutions raised for larger bench consideration on criminal and compensatory aspects.
The Supreme Court referred to a three-judge Bench the question whether the IBC moratorium applies to cheque bounce proceedings under Section 138 of the Negotiable Instruments Act during insolvency proceedings. The reference also concerns whether the moratorium stays the entire prosecution or only the compensatory aspect, and whether directors or other vicariously liable persons can claim the same protection in cases of personal insolvency. The article notes the competing views on the criminal character of cheque dishonour proceedings and the recovery-related effect of the compensatory component.
May 28, 2026
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Insolvency and bankruptcy reform strengthens creditor recovery, improves borrower discipline, and supports revival of distressed enterprises.
The Insolvency and Bankruptcy Code is presented as a creditor-driven, time-bound framework that consolidated a fragmented insolvency regime and strengthened recovery, corporate discipline, investor confidence, and economic efficiency. The article states that resolution activity has facilitated large-scale creditor realisation, including over Rs.4 lakh crore, while also producing significant case closures, withdrawals, settlements, and liquidations. It further notes improved recovery rates, shorter timelines, better borrower behaviour, and post-resolution revival of firms.
May 28, 2026
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Voter identity document allegations surface after cards were reportedly recovered from a party office and examined by police.
Allegations arose that a large number of voter identity documents, Aadhaar cards and ration cards were recovered from a local political party office in Kolkata's Tangra area. Police said nearly 300 documents were found in an almirah at the premises, while residents and political workers claimed the papers had been kept there to prevent people from exercising their franchise. Police said no formal complaint had yet been lodged, though the matter was under examination.
May 28, 2026
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Comprehensive economic partnership upgrade negotiations advance with focus on balanced trade, services, origin rules and digital cooperation.
India and the Republic of Korea held the 12th round of negotiations to upgrade the Comprehensive Economic Partnership Agreement, with both sides reviewing progress and reaffirming commitment to a modernised and balanced bilateral trade framework. The parties agreed to address the bilateral trade deficit within the CEPA framework and discussed trade in goods, trade in services, rules of origin and origin procedures, investment, and sanitary and phytosanitary standards. Sub-groups were also decided for digital trade, supply chain cooperation, and strategic industrial cooperation.
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
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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.

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Customs & Trade

Following are the top foreign stories at 2030 hours

June 2, 2026

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FGN31 NEPAL-PARLIAMENT

Nepal Parliament adjourned after protests over PM Balen's remarks on border issues Kathmandu: Both Houses of Nepal's Parliament were adjourned on Tuesday after lawmakers continued to obstruct proceedings over Prime Minister Balendra Shah's remarks about his country's border issues with India.

FGN29 ISRAEL-DEFENCE-EXPORTS

Israel defence exports hit record USD 19.2 bn in 2025 Jerusalem: Israel has broken its defence export record for the fifth consecutive year, registering USD 19.2 billion in sales in 2025, nearly 30 per cent increase compared to the previous year, the defence ministry said on Tuesday.

FGN28 CHINA-SCIENTIST-CORRUPTION

China's top map-making scientist held in anti-corruption sweep Beijing: China's leading cartographic scientist Zhou Chenghu, a former deputy director of the Institute of Geographic Sciences, has been detained by anti-corruption officials.

FGN42 UN-BANGLADESH

Bangladesh Foreign Minister elected President of 81st session of UN General Assembly United Nations: Bangladesh's Foreign Minister Khalilur Rahman was on Tuesday elected as the President of the 81st session of the UN General Assembly.

FGN10 US-TRUMP-NETANYAHU

Netanyahu calls off Lebanon raid after 'heated' call with Trump Washington: US President Donald Trump said he persuaded Prime Minister Benjamin Netanyahu to call off the strike on Beirut, following which the Israeli leader "turned his troops around".

FGN11 UN-INDIA-PEACEKEEPERS

Over 550 Indian peacekeepers in South Sudan awarded UN Medal of Honour United Nations: Over 550 Indian peacekeepers, including 53 women, serving with the UN Mission in South Sudan (UNMISS) were honoured for their dedication and commitment to protecting civilians and supporting peacebuilding efforts in the conflict-affected country.

FGN21 LANKA-GOTABAYA

Ex-Sri Lanka Prez Rajapaksa allowed to testify online on rights activists' disappearance hearing Colombo: Sri Lanka's former president Gotabaya Rajapaksa was on Tuesday allowed to testify online in a long-standing case about the disappearance of two rights activists in 2011.

FGN16 US-HINDUPHOBIA-LAWMAKER

Prominent US Congressman backs resolution condemning Hinduphobia, temple attacks Washington: A prominent US Congressman has endorsed a House resolution that celebrates the contributions of the Hindu-American community to the economy of the United States and condemns Hinduphobia, anti-Hindu bigotry and attacks on the community's places of worship.

FGN8 US-INDIANS-ARRESTED

30 Indians living and working illegally in US as truck drivers arrested, will be deported New York: About 30 individuals from India, found to be living in the US illegally and working as commercial truck drivers, have been arrested as part of a federal operation and will soon be deported.

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