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    Kerala: ED questions CMRL MD''s daughter in money laundering probe
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June 15, 2026
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Money laundering probe over alleged suspicious payments and loans linked to CMRL and associated entities.
Enforcement Directorate questioning was undertaken in connection with a money laundering probe involving Cochin Minerals and Rutile Limited, its associated entities, and persons linked to the Kartha family and Veena Vijayan. The probe concerns allegations that CMRL made payments to Exalogic Solutions Private Limited without receiving services in return and that related lending transactions were extended despite alleged repayment defaults. The agency has alleged that these dealings generated proceeds of crime and registered the case under the Prevention of Money Laundering Act.
June 15, 2026
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Wholesale price inflation surges as fuel, food and manufactured goods costs rise amid global energy pressures.
Wholesale price inflation rose to 9.68 per cent in May, driven by higher fuel and power, manufactured products, and food articles. The WPI inflation data was released with the base year revised to 2022-23 from 2011-12. Retail inflation also increased, while the Reserve Bank of India continued to focus on consumer price inflation for monetary policy and raised its inflation projection for the current fiscal year because of higher global energy prices and mounting input costs.
June 15, 2026
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PMLA money trail scrutiny drives questioning in the primary school recruitment probe, with financial records and digital evidence cross-checked.
Enforcement Directorate questioning in a PMLA probe into alleged irregularities in primary school recruitments focused on tracing the alleged proceeds of crime and the movement of funds through accounts and entities. The interrogation was to be videographed and cross-checked against financial documents, digital records and statements of other accused persons, with clarification sought on inconsistencies between earlier submissions and materials recovered during searches.
June 15, 2026
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Foreign capital inflows get tax and forex support through RBI swap facilities and concessional borrowing measures.
Measures to attract foreign capital included tax exemptions for foreign investors in government securities and RBI-backed swap facilities for banks and public sector undertakings. The framework allowed banks access to the FCNR(B) swap facility for currency risk management and offered a concessional forex swap facility to encourage external commercial borrowings, with currency hedging borne by the RBI as part of a calibrated approach to support market inflows.
June 15, 2026
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India-UK collaboration in innovation and technology advances alongside talks on trade pact implementation challenges.
India and the UK discussed strengthening bilateral collaboration in innovation, technology, research, startups, and emerging technologies. The meeting also covered issues linked to implementation of the free trade agreement, including British steel safeguard measures that have created obstacles to operationalising the pact.
June 15, 2026
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Rupee appreciation gains strength as softer crude, weaker dollar and easing energy tensions support the currency market.
The rupee strengthened in early interbank trade on the back of softer global crude prices, a weaker US dollar and firm domestic equity markets. Forex traders linked the appreciation to easing energy market pressure after the US and Iran finalised a peace deal expected to reopen the Strait of Hormuz and reduce global oil supply disruption concerns. Market commentary suggested an appreciating bias, while the broader context also noted net foreign institutional selling and a decline in India's forex reserves reported by the RBI.
June 14, 2026
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Disclosure obligations under LODR are challenged over alleged non-disclosure of contingent liability in a demerger listing.
Sebi was urged to withhold the listing of Vedanta Iron and Steel Ltd. pending full disclosure of an alleged contingent liability linked to Goa iron ore mining operations. The complaint alleged that Vedanta Ltd. failed to disclose the liability in demerger documents and stock exchange filings, raising possible breaches of LODR disclosure obligations concerning material information and contingent liabilities. The request also sought a show-cause notice, a bank guarantee in favour of the Goa government, and an independent inquiry into the demerger scheme.
June 14, 2026
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Rupee volatility and forex management are driven by global factors, while RBI intervenes only to curb excessive market swings.
Rupee-dollar fluctuations are driven by multiple global and domestic factors, including geopolitical uncertainty, foreign capital movements and import dependence on crude oil, fertilisers and gold. The Reserve Bank of India intervenes only to curb excessive volatility and stabilise the market temporarily, not to maintain a fixed exchange rate. The finance minister also linked exchange rates to global currency movements, foreign investment flows and foreign exchange management needs.
June 14, 2026
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Fake identity documents and bank accounts allegedly used to run online fraud through a forged common service centre operation.
Alleged operation of a fake Common Service Centre and use of forged identity documents for opening bank accounts and facilitating online frauds. The activity was said to involve fake seals, fabricated records, debit and credit cards, mobile phones, and online payment platforms for illegal gains. A complaint linked to one bank account had earlier been registered on the National Cyber Crime Reporting Portal, and a case was registered under relevant provisions of the Bharatiya Nyaya Sanhita, the Information Technology Act and the Aadhaar Act.
June 14, 2026
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Unauthorised absence as grave misconduct in RBI service discipline, with compulsory retirement sustained after repeated opportunities were ignored.
Unauthorised absence by a senior assistant of the Reserve Bank of India was treated as grave misconduct because prolonged absence from a responsible post was considered detrimental to public interest and capable of justifying disciplinary action. The employee had remained away from duty without permission, and repeated directions to resume work or submit a supported leave application were not met. The disciplinary process included a show-cause notice and enquiry, but several opportunities were given for participation, so the plea of breach of natural justice was not accepted.
June 14, 2026
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Russian crude imports rise in India as refiners expand discounted purchases despite sanctions-related pressures.
India's purchases of Russian crude increased in May as refiners expanded imports of discounted barrels, with Russian hydrocarbons accounting for a substantial share of the country's fossil fuel imports. Several major refining hubs recorded higher Russian crude arrivals, reflecting renewed buying by state-run refiners and continued dependence on Russian supply despite sanctions-related pressures. The report also notes that refineries using Russian crude continued to export oil products to sanctioning countries, underscoring the continued circulation of Russian-origin crude through international refining and product-trade channels.
June 13, 2026
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Energy supply and fuel pricing remain comfortable as excise cuts, stock levels, and E85 expansion shape policy.
Energy supply conditions were described as comfortable, with no shortage of crude oil, LPG or natural gas and with stocks said to be sufficient for more than 60 days for crude oil and natural gas, and about 75-80 days for LPG. Fuel prices were said to have fallen in India after repeated reductions in central excise duty on petrol and diesel, while diesel sale capping was introduced to curb black marketing and E85 fuel infrastructure is being expanded.
June 13, 2026
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Aadhaar issuance restrictions tighten in Assam with adult applications curbed and limited exceptions requiring state approval.
Aadhaar cards are to stop being issued in Assam to persons above 18 years, subject to limited exceptional cases requiring a district commissioner's proposal and state government approval. Aadhaar issuance will continue for persons below 18 years and, for the time being, for members of the Tea Tribe community, Scheduled Tribes, Scheduled Castes and persons with disabilities who have not yet received the document; the restriction is stated to become absolute for those communities above 18 years from April 1, 2027. The State says the measure is aimed at preventing illegal immigrants from obtaining Aadhaar cards.
June 13, 2026
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Honorary Doctorate in Law recognition highlights a legal career marked by public service, complex litigation, and professional integrity.
Advocate Aashutosh Srivastava was conferred an Honorary Doctorate in Law by Washington Digital University, USA, in recognition of his professional dedication, legal service, public-oriented work, and commitment to justice, rights protection, and the rule of law. The article also records his legal career, including his practice since 2006, his firm, appearances before the Supreme Court and High Courts, and his work in complex litigation, economic offences, bail matters, enforcement proceedings, public interest litigation, and RBI-related disputes.
June 13, 2026
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Money laundering remand under the Prevention of Money Laundering Act granted to trace diversion of loan funds and offshore assets.
Custodial remand under the Prevention of Money Laundering Act was sought in an alleged diversion-of-loan-funds investigation involving Reliance ADA Group entities, offshore remittances, foreign bank accounts and the layering of funds. The court granted five days' custody to the Enforcement Directorate to enable confrontation with seized emails, electronic records, financial documents and witness statements for tracing the fund trail, identifying the ultimate beneficiaries and locating domestic and overseas assets, while directing arrangements for medical care.
June 13, 2026
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SEBI enforcement and Aadhaar policy moves dominate a roundup of regulatory, possession, and bail-related legal developments.
SEBI moved the Supreme Court challenging a Securities Appellate Tribunal order granting relief to managers and a company secretary in the Sahara OFCD matter. The roundup also notes a decision to stop Aadhaar issuance to persons above 18 years of age, fresh bail applications in the 2020 Delhi riots case, and the Centre's physical possession of the Jaipur Polo Ground in Delhi.
June 13, 2026
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Securities regulatory jurisdiction over debenture issuances and employee liability remains in focus in the SEBI challenge.
Securities regulatory jurisdiction over optionally fully convertible debentures was affirmed on the basis that the debentures issued by Sahara India Commercial Corporation Ltd. were treated as a public offer rather than a private placement, in view of the large-scale mobilisation of funds from a very large number of investors. The tribunal separately granted relief to four managers and the company secretary, holding that they could not be treated as liable for the company's acts merely by reason of their employment. SEBI has challenged only this part of the ruling before the Supreme Court.
June 13, 2026
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Strategic divestment and transitional partnership reshape AXISCADES' aerospace engineering business through a two-tranche acquisition structure.
A strategic divestment programme has been announced for AXISCADES' Aerospace Engineering Services business, under which Akkodis is to acquire a controlling interest in two tranches, beginning with 51% and followed by the balance over the next 24 to 30 months. The transaction covers design, engineering analysis, certification support and lifecycle engineering services, and is subject to customary regulatory and competition law clearances. The parties are to act as strategic partners during the transition, with transitional services for systems, certifications and employee continuity.
June 13, 2026
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Quality and skilling ecosystem partnership expands certification, testing access and training support for leather and footwear workers.
Quality Council of India and Footwear Design and Development Institute have entered into a Memorandum of Understanding to strengthen the quality, testing, accreditation and skilling ecosystem in the leather and footwear sector. The collaboration is directed at building a structured framework for capacity building, certification, testing infrastructure development and quality ecosystem support across major footwear clusters, with emphasis on workers, MSMEs, supervisors and other stakeholders in the value chain. The partnership assigns QCI a role in providing technical guidance on accreditation principles, quality management systems and standards, while also supporting awareness initiatives on quality, testing, accreditation and applicable government schemes. FDDI is to lead cluster-specific skilling and training programmes, map testing and calibration laboratories, identify gaps in laboratory access, support sample collection centres and develop knowledge resources.
June 13, 2026
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Aadhaar issuance restriction targets adult applicants in Assam, with exceptional cases requiring state permission.
Aadhaar card issuance in Assam is being restricted for persons above 18 years of age to prevent illegal immigrants from obtaining the document. In exceptional cases, a district commissioner may send a proposal to the State government seeking permission for issuance.

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BCBA Hosts Landmark Second Edition of The India Logistics Conclave 2026 at The Taj Mahal Palace, Mumbai

June 20, 2026

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Over 550 delegates, government leaders and industry stalwarts unite around the vision — “One Fraternity, One Vision: Logistics Driving India Towards Viksit Bharat” Mumbai, 20 June 2026 — The Brihanmumbai Custom Brokers’ Association (BCBA), established in 1939, successfully hosted the second edition of The India Logistics Conclave 2026 at The Taj Mahal Palace, Mumbai, drawing more than 550 delegates, invitees and guests from across the customs, ports, shipping, trade and logistics ecosystem. Anchored in the theme “One Fraternity, One Vision — Logistics Driving India Towards Viksit Bharat,” the day-long Conclave brought senior government leadership and industry stalwarts onto one platform to chart the road to a developed India by 2047.

The proceedings began at 09:45 a.m. with the ceremonial inauguration of the CBIC Pavilion, followed by the Inaugural Session. In a defining moment, Shri Vivek Chaturvedi, Chairman, Central Board of Indirect Taxes & Customs (CBIC), delivered the welcome address live online, sharing the Board’s vision for a modern, trust-based and technology-led customs administration — received by the fraternity as a source of great strength and inspiration.

The inaugural dais featured an eminent gathering of dignitaries. These included Shri Yogendra Garg, Member (Customs), CBIC; Shri Anupam Prakash, Joint Secretary, Customs; Shri Sushil Mansing Khopde, IPS, Additional Director General of Shipping; Shri Sunil Jain, IRS, Director General of Valuation; Capt. BVJK Sharma, Chief Executive Officer, Navi Mumbai International Airport; Capt. Deepak Tiwari, Managing Director, MSC India and Chairman, CSLA; Shri Om Hisaria, Senior Executive Vice President, Reliance Industries Limited; and Mr Mukesh Oza, Group President & CEO, Samsara Group. They were joined on the dais by BCBA President Mr Sanjeev Harale and Senior Vice President Mr Paresh Thakkar.

“To see this fraternity stand shoulder to shoulder with the highest offices of government and industry, under one roof and one vision, has been deeply humbling,” said Mr Paresh Thakkar, Senior Vice President, BCBA. “What we have built over two editions is not merely an event, but a platform where the customs broker’s voice is heard, respected and woven into the national agenda. That is the legacy we intend to carry forward.” The intellectual heart of the Conclave lay in its four business sessions, each a moderated plenary of national stature.

Session 1, “India 2030, 2035, 2047 — A Roadmap for Viksit Bharat,” was moderated by Mr Shantanu Bhadkamkar and brought together Shri Yogendra Garg, Member (Customs), CBIC; Mr Shailesh Haribhakti, eminent voice on economy and governance; Capt. Deepak Tiwari of MSC India and CSLA; Dr Prasad Pradhan, senior strategy and resilience advisor; and Mr Rahul Ahluwalia, Director & Co-Founder, Foundation for Economic Development.

Session 2, “Building India’s Digital Spine — Customs & Trade,” was moderated by Mr Dushyant Mulani. The panel comprised Shri Anupam Prakash, Joint Secretary, Customs; Shri Gaurav Dayal, IAS, Chairman, Jawaharlal Nehru Port Authority; Shri Parvinder Singh, Managing Director, Hans Infomatic; Mr Kunal Maheshwari, Director, Softlink Global; Mr Faisal Khan, Foundation for Economic Development; and Mr Amit Kamat, Chairman, FFFAI.

“Custom Brokers are now playing a nodal role in India’s EXIM Logistics, they are quiet backbone of India’s trade, and forums like this one finally give that contribution the recognition it deserves,” said Mr Dushyant Mulani, Immediate Past President, BCBA. “Keeping National interest of being Globally Competitive it is imperative that government and trade sit at the same table as partners to conceptualise further trade facilitation measures to ensure the entire ecosystem moves faster — and that partnership is the real achievement of this Conclave.” Session 3, “Geopolitics and the New Geometry of Trade,” was moderated by Mr Tej Contractor and featured Dr Pritam Banerjee of the Indian Institute of Foreign Trade; Mr Sachin Vijan, Vanguard Logistics Services; Mr Fardeen Malbarwalla, Galaxy Freight; Mr S. Mahesh Mahalingam, Head — EXIM, Larsen & Toubro; and Dr Rumki Majumdar, Director & Economist, Deloitte India.

Session 4, “Policy and Infrastructure — Building India’s Futuristic Logistics Ecosystem,” was moderated by Mr Mihir Parekh of the Foundation for Economic Development, who served as moderator cum panellist. The session brought together Shri Unmesh Sharad Wagh, IRS, Commissioner General, JNCH; Shri Ravish Kumar Singh, IRTS, Deputy Chairman, JNPA; Shri Sagar Rameshrao Kadu, Director (Logistics Division), DPIIT; Dr Rekha Raikar Kumar, Senior Advisor, Land Port Authority of India; and Mr Rajiv Chohan, Aegis Vopak Group.

The Valedictory Session, themed “Logisticians — Building a Better India,” offered an inspiring close. It was led by Mr Dhimant Parekh, Founder & CEO of The Better India — the world’s largest positive-impact storytelling platform — and Mr S. Ramakrishna, Past Chairman of FFFAI, who reflected on conviction, reinvention and the logistician’s role in nation building.

“This Conclave reaffirmed that the customs broker and freight forwarder are not mere facilitators, but true partners in India’s growth story,” said Mr Sanjeev Harale, President, BCBA. “The participation of the highest echelons of government and industry, and the warmth of over 550 delegates, is a powerful testament to the strength of our fraternity and our shared resolve to drive India towards Viksit Bharat.” The Conclave was made possible by the generous support of its partners. The BCBA extends profound gratitude to the Jawaharlal Nehru Port Authority (Platinum Sponsor); Navi Mumbai International Airport and MPRS Shipping (Diamond Sponsors); Softlink Global Private Limited (Gold Sponsor); and Reliance Industries Limited (Silver Sponsor). The Association also acknowledges Parekh Global (Lunch Sponsor); Conex CFS, Polaris CFS and Globicon CFS (Delegate Kit Sponsors); Galaxy Freight (Seat Sponsor); Mumbai Cargo Service Center (Lanyard Sponsor); and Unifo (Hi-Tea Sponsor); and DBS Bank (Banking Partner). The BCBA further thanks our Bronze and Associate Sponsors, along with its Media Partners and supporting organisations, whose collective faith — despite a challenging global environment — was vital to the success of the event.

As the second edition closed, the BCBA expressed deep appreciation to every delegate, dignitary, speaker, moderator and partner who made the day a success. The Association reaffirmed its commitment to serving as a unifying voice for the fraternity and advancing the national conversation on India’s logistics future.

About BCBA: The BCBA, established in 1939, is one of India’s oldest and most respected representative bodies for customs brokers, serving as a unifying voice for the customs, trade and logistics fraternity.

For media enquiries, please contact the BCBA.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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