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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
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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.
May 26, 2026
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Geopolitical uncertainty drives gold lower as investors await peace talks, inflation data, and central bank signals.
Gold prices declined in the domestic market as investors moved toward the US dollar amid renewed uncertainty over West Asia peace talks and military tensions between Washington and Tehran. Silver moved higher, leaving precious metals in a state of consolidation, while market participants stayed cautious and awaited clearer geopolitical signals. Analysts said crude oil, inflation expectations, Treasury yields, and upcoming US economic data would influence near-term bullion movement.
May 26, 2026
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Perpetual lease termination and eviction process challenged as the High Court declines interim restraint pending due process assurances.
Centre's termination of Delhi Gymkhana Club's perpetual lease and proposed eviction were challenged as lacking genuine public purpose and as threatening forced dispossession. The High Court, noting the government's assurance that possession would not be taken by force and that any eviction would follow due process and prior notice, refused interim restraint at that stage, issued summons, and deferred issues including locus, prior notice and the legality of the lease termination.
May 26, 2026
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Pre-packaged insolvency resolution process listing approval marks a milestone in Lord's Mark Industries' transformation and market debut.
Lord's Mark Industries Ltd. received stock exchange listing approval under the IBC scheme of Pre-Packaged Insolvency Resolution Process (PPIRP), described as the first such approval for a company in India. The approval is linked to the company's planned public market debut and broader transformation strategy. The company says the milestone follows strategic rebuilding and institutional strengthening, and supports its next phase of expansion in healthcare, renewable energy, infrastructure and advanced technologies, with emphasis on resilience, governance, innovation and long-term value creation.
May 26, 2026
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SME capital market access gains focus as stakeholders promote compliance, due diligence and transparent listing pathways.
SME capital raising through the SME platform was promoted at a conclave in Guwahati, organised by BSE with ICSI, AIBI and Horizon Management Pvt Ltd and initiated by SEBI, to strengthen awareness among small and medium enterprises on accessing capital markets for growth. The initiative focused on enhancing capital market access and ease of capital formation for SMEs, particularly in the North-Eastern region, by familiarising enterprises with fundraising opportunities and the SME listing pathway. The discussions highlighted the SME IPO journey, including market readiness, regulatory compliance, due diligence and the role of intermediaries in supporting a transparent and trustworthy listing process.
May 26, 2026
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Franchise expansion drives TGI Fridays' flagship launch in Connaught Place, strengthening premium urban dining presence in India.
TGI Fridays launched a new flagship restaurant at Connaught Place, New Delhi, as part of its broader India expansion strategy in the casual dining segment. The opening was undertaken by Bistro Hospitality Pvt. Ltd., the master franchisee for India, together with Feastary Hospitality LLP, its North India franchise partner, and was described as a step toward strengthening the brand's presence in premium urban markets.

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Customs & Trade

Finalising NFL's tender to import 17 lakh tn urea; stock comfortable for Kharif season: Govt

June 15, 2026

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New Delhi, Jun 15 (PTI) The government on Monday said it is in the process of finalising imports of 17 lakh tonnes of urea to boost domestic supply and asserted that it does not see any major challenge in availability of fertilisers for the ongoing Kharif sowing season.

At an inter-ministerial briefing on recent developments in West Asia, Bandana Preyashi, the joint secretary in the Department of Fertilizers, said, "Overall stock position of fertilisers in the country is comfortable".

She informed that the agriculture ministry has reassessed fertiliser requirements at 383.9 lakh tonnes for the current Kharif (summer-sown) season.

Against this projected demand, Preyashi said the stock, as of today, is 196.65 lakh tonnes, significantly higher than the usual level of about 33 per cent. Farmers have already bought.

"This reflects improved planning, advanced stocking, and efficient logistics management by the government," the joint secretary said.

On the sales front, Preyashi said that farmers have already purchased 102.78 lakh tonnes of chemical fertilisers in the ongoing kharif season, which is around 37 per cent of the total requirement.

"Pending consumption is 281.12 lakh tonnes, and out of that we have 196 lakh tonnes available today," she said, adding that the stock position is comfortable because of domestic production as well as imports.

During this ongoing crisis period, Preyashi said the country has secured more than 50 lakh tonnes of urea and P&K (phosphatic and potassic) fertilisers.

She said the government entity has floated a tender to import 17 lakh tonnes of urea and the same is in the "process of finalisation".

State-owned National Fertilizers Ltd (NFL), which recently floated a tender to import 17 lakh tonnes of urea, has received bids for over 60 lakh tonnes with the lowest rate of about USD 445 per tonne from global trading companies.

Apart from chemical nutrients, Preyashi said farmers have purchased 11.82 lakh tonnes of organic manure so far, compared to 3.31 lakh tonnes during the corresponding period last year. The stock of organic manure is about 22.60 lakh tonnes.

This substantial increase in sale of organic manure indicates a gradual shift in farmers' preference from chemical fertilisers to organic alternatives, she said.

"At present, we see no major challenge to the availability of fertilisers for the ongoing kharif season," she asserted.

Elaborating on supply, Preyashi said 123.65 lakh tonnes of domestic production and 39.36 lakh tonnes of imports of fertilisers have been done after the crisis.

So, a total of 163.01 lakh tonnes of fertilisers have been added post West Asia crisis.

"During this ongoing crisis period, India has secured more than 50 lakh tonnes of urea and P&K fertilisers," she said.

India has secured urea supplies from Oman, Malaysia, Vietnam, Georgia, Nigeria, Russia, Finland, Egypt, Algeria, Turkey, and the Netherlands.

DAP (di-ammonium phosphate) and NPKs have been sourced from Russia, Morocco, Egypt, USA, Jordan, South Korea, Tunisia and Saudi Arabia.

"We have 16 ships in SOH (Strait of Hormuz) as of today," Preyashi said, adding that there are eight ships carrying urea, four DAP ships, three sulphur and one ammonia.

In these ships, there are 3.3 lakh tonnes of urea, 2.57 lakh tonnes of DAP and 1.1 lakh tonnes of sulphur.

"So this is the SOH scenario, and we are totally completely prepared for the kharif season. The department does not anticipate any problem in the season, and we are keenly watching the international and national unfolding in the international and national scenario," the joint secretary said.

Preyashi stated that the department is regularly reviewing the availability of inputs for production of fertilisers.

"The department is regularly paying all the subsidy bills raised by the companies on a weekly basis, and at present, adequate budget is available for payment of fertiliser subsidy," she said.

Preyashi emphasised that India's fertiliser security remains strong, stable, and well-managed, with availability consistently exceeding requirement across all major fertilisers.

India's domestic urea production surged from 225 lakh tonnes in 2014-15 to an all-time record high of 314.07 lakh tonnes in 2023-24. In 2024-25, production was 306.67 lakh tonnes.

The country imported more than 100 lakh tonnes of urea last fiscal to meet local demand.

Phosphatic and Potassic (P&K) fertilizer manufacturing reached a historic high of 211.22 lakh tonnes in 2024-25, scaling up significantly from 159.54 lakh tonnes in 2014-15. PTI MJH MJH MR

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