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    Union Minister of Commerce and Industry Shri Piyush Goyal Begins Spain Visit with High-Level Engagements to Deepen India–Spain Economic Partnership
    Direct tax mop-up grows 16 pc to over Rs 6.51 lakh cr so far in FY27
    IC Electricals Secures INR 4.89 Crore Export Order from US Customer Through Subsidiary Safe Coils India; Export Order Book Surpasses INR 17.20 Crore
    UP RERA to facilitate GST refund for homebuyers, warns builders against excess levy
    India, UK trade pact to come into force from July 15: An Explainer
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    CBN Madhya Pradesh Unit busts high-tech MD manufacturing lab in Pune; Two masterminds arrested from Ujjain and Jodhpur under multi-city ‘Operation V...
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July 14, 2026
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Bilateral economic cooperation expands through trade, investment, innovation, industrial partnerships and technology collaboration across priority sectors
India and Spain pursued deeper economic cooperation through discussions on trade, investment, innovation and industrial partnerships. Priority areas included renewable energy, green hydrogen, advanced manufacturing, digital technologies, infrastructure, clean energy, mobility, tourism, automotive, railways and smart infrastructure. The discussions addressed market access, resilient supply chains, technology partnerships, investment flows and business linkages. The India-Spain Business Forum examined opportunities in manufacturing, infrastructure, renewable energy, digital technologies, the digital economy and innovation, while the Fast Track Mechanism was discussed as a means of facilitating new investments and strengthening business confidence.
July 14, 2026
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Direct tax collections rise as corporate and non-corporate tax receipts grow, alongside increased refunds during the fiscal year
Net direct tax collection increased by 16.40 per cent to over Rs 6.51 lakh crore up to July 13 of the fiscal year. Net corporate tax collection rose by 22 per cent, while net non-corporate tax collection, covering individuals, Hindu undivided families and firms, increased by about 12 per cent. Refunds of Rs 1.22 lakh crore were issued, and gross direct tax collection increased by 16.11 per cent to over Rs 7.73 lakh crore.
July 14, 2026
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Export Order Through Subsidiary Expands Railway Equipment Business and Increases Unexecuted International Order Book Beyond Prior Executions
IC Electricals received a USD 510,000 export purchase order from a United States customer through its subsidiary, Safe Coils India Private Limited. The order increases its unexecuted export order book to USD 1.8 million, representing growth of more than 300% compared with export orders executed during financial year 2025-26. The company manufactures railway electrical and electronic equipment and undertakes turnkey railway electrification projects, including design, supply, erection, testing, and commissioning of 25 kV AC overhead equipment and traction substations. Its forward-looking growth statements remain subject to governmental, economic, political, operational, and technological risks.
July 14, 2026
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Excess GST collection requires promoter refund or direct GST claims by eligible homebuyers after credit-note deadlines expire
Registered real estate promoters must collect GST from homebuyers only at notified rates and refund any excess collection or issue a credit note where legally permissible. If a project is cancelled, an agreement terminated, or an allotment revoked after the statutory credit-note period expires, an eligible unregistered allottee may seek a direct GST refund by obtaining temporary registration through a PAN and filing Form GST RFD-01 with proof of tax payment, supporting documents, and a promoter-issued certificate. Claims must be filed within two years and remain subject to GST verification.
July 14, 2026
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India-UK trade pact expands preferential market access, with phased automobile tariffs, procurement rights, origin rules and intellectual-property safeguards
The India-UK Comprehensive Economic and Trade Agreement provides duty-free or reduced-duty access for nearly 99% of Indian exports to the UK and phased tariff reductions for specified UK goods entering India. Automobile concessions are subject to quotas and differentiated treatment for conventional, electric, hybrid and hydrogen vehicles. Alcoholic-beverage concessions depend on phased tariff reductions and minimum import prices, while specified products remain excluded. The agreement covers government procurement, stronger intellectual-property enforcement while preserving compulsory licensing, temporary social-security contribution relief for transferred employees, and rules of origin requiring specified production, processing or value addition for preferential tariffs.
July 14, 2026
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Wholesale inflation rises as mineral, food, fuel and non-food prices intensify, complicating RBI's inflation-management mandate.
Wholesale Price Index inflation increased to 9.87 per cent in June 2026, driven by mineral oils, food articles, basic metals, and chemicals. Fuel and power inflation remained elevated, while food and non-food article prices also rose. Retail inflation increased to 4.38 per cent. The Reserve Bank of India primarily considers CPI inflation for monetary policy and is mandated to maintain headline inflation at 4 per cent, with a tolerance range of 2 per cent on either side. Its inflation projection was raised due to higher input costs and the transmission of global energy prices to retail fuel prices.
July 14, 2026
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NCLT vacancies and infrastructure gaps remain under review as delays in insolvency resolution plans raise IBC efficiency concerns
Delays in appointing judicial and technical members to the National Company Law Tribunal, inadequate infrastructure, and concerns over its disposal rate are being considered in suo motu proceedings. The hearing was deferred after the appointment process was reported to be underway. The proceedings followed concerns regarding persistent delays in approving insolvency resolution plans under the Insolvency and Bankruptcy Code, including applications pending before the NCLT for periods ranging from weeks to several years.
July 14, 2026
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Synthetic drug trafficking enforcement exposes clandestine Mephedrone laboratories, leading to arrests and seizure of manufacturing equipment under narcotics law
Interstate synthetic drug trafficking enforcement under the NDPS Act, 1985 led to the dismantling of a sophisticated Mephedrone manufacturing laboratory and the arrest of two alleged chief conspirators during coordinated operations. Officers seized digital machinery, laboratory equipment, heavy glassware, precursor chemicals and safety gear used in illicit MD production. Sustained intelligence and interstate investigation identified a second facility financed and coordinated by a co-conspirator. Simultaneous searches resulted in the second arrest and seizure of the clandestine laboratory's equipment and chemicals, which were taken into possession under the NDPS Act, 1985. Further investigation remains in progress.
July 14, 2026
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Wildlife trafficking enforcement targets ivory, endangered species, and transnational smuggling through coordinated operations and CITES-based protections
Intelligence-led operations targeted organised wildlife trafficking involving endangered and protected fauna, ivory, and other wildlife products. More than 440 protected or endangered animals, approximately 15 kg of ivory articles and elephant ivory, and products including pangolin scales, leopard pelt, seahorse-based articles, and Red Sanders were seized, while 33 persons were arrested or apprehended. Elephant ivory recoveries were referred to the Forest Department for action under the Wildlife (Protection) Act, 1972. The Indian elephant is protected under Schedule I, trade in elephants and derivatives is prohibited, commercial ivory trade is restricted under CITES obligations, and ivory imports and exports are prohibited under the Foreign Trade Policy.
July 14, 2026
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Reseller cover bids and coordinated supplies sales treated as cartelisation, with penalties and cease-and-desist directions imposed
The Competition Commission of India addressed cartelisation in the sale and supply of toner, cartridges and other consumables used with print hardware products. Sixteen Tier-2 resellers were identified as having sought and submitted support or cover bids, contrary to Sections 3(3)(d) read with Section 3(1) of the Competition Act, 2002. HP India was identified as playing a central role in the arrangement. Monetary penalties were imposed on HP India, the resellers and relevant officials under Section 48, together with directions to cease and desist from the anti-competitive conduct.
July 14, 2026
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Bid-price coordination and tender-participation manipulation in personal system products attract competition-law penalties and cease-and-desist directions.
HP India and five resellers were found to have engaged in cartelisation in the sale and supply of personal system products. The conduct included dictating bid prices and manipulating reseller participation in GeM tenders by withholding authorisation. The conduct was treated as contravening Sections 3(3)(d) read with Section 3(1) of the Competition Act, 2002. The resellers were found to have acted in collusion with HP India, while officials were treated as liable under Section 48. Penalties and cease-and-desist directions were imposed under the Act.
July 14, 2026
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Export Growth Driven by AI Demand as Technology Products, Semiconductors, and Electric Vehicles Lift China's June Trade Performance
China's exports increased sharply in June, driven by strong external demand associated with the expansion of artificial intelligence. Exports of electric vehicles, semiconductors, and related technology products expanded significantly, while imports also recorded substantial year-on-year growth. Strong export manufacturing helped offset weakness in domestic demand.
July 13, 2026
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Cryptocurrency investment fraud allegations trigger PMLA provisional attachment of bank deposits, flats, and commercial shops linked to diverted funds.
The Enforcement Directorate reported a money-laundering investigation into an alleged cryptocurrency fraud involving ATC Coin. It alleged that investors were induced to contribute funds through assurances of high and assured returns, and that the collections were deposited with Jewria Services Club India before being diverted through accounts of the accused and associated entities. Under the Prevention of Money Laundering Act, bank deposits and Mumbai properties comprising residential flats and commercial shops were provisionally attached.
July 13, 2026
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Preferential market access anchors India-US trade negotiations as tariff investigations and bilateral commitments remain under discussion
India and the United States are progressing negotiations on a framework deal and a bilateral trade agreement focused on preferential market access and comparative tariff advantages. India is engaging with the USTR on Section 301 investigations concerning forced labour and excess industrial capacity. The forced-labour investigation has proposed an additional tariff on imports from India, but the measure remains unfinalised. India has urged resolution through bilateral negotiations rather than unilateral measures. The excess-capacity investigation remains pending, and the eventual trade agreement is expected to address relevant aspects of the bilateral trade relationship, including tariff treatment, market access, and investigation-related issues.
July 13, 2026
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Export-control sanctions prohibit routing electronic components to Iran through intermediaries, with conspiracy liability turning on knowledge and assistance.
US export-control sanctions prohibit the unlawful export of electronic components to Iran through intermediaries or front companies. The reported prosecution concerned allegations that an employee conspired with an Iranian business associate to obtain components for a Tehran-based company whose technology had potential military applications. Prosecutors relied on documents, text messages, photographs, and communications said to show knowledge and assistance, while the defence disputed procurement, the Swiss company's characterization as a front, and proof that components reached Iran. Evidence concerning a specific drone attack was limited to general evidence about the Iranian company and potential military applications.
July 13, 2026
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Mandatory securities compliance governs mutual fund redemptions, investor consent, disclosures, due diligence, and trustee responsibilities
Compliance with securities regulations is presented as mandatory regardless of whether investors ultimately incur losses or receive benefits. Close-ended mutual fund schemes must be redeemed at maturity unless formally rolled over with informed written investor consent and prior disclosure to SEBI. The reported issues also include inadequate due diligence regarding issuers' financial condition, excessive reliance on pledged collateral, delayed disclosures to investors and SEBI, and the trustee company's failure to independently assess regulatory compliance and unitholder interests.
July 13, 2026
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Rupee weakness reflects geopolitical risk, crude prices, capital outflows, rising inflation, and widening trade pressures on India
The Indian rupee weakened against the US dollar amid heightened US-Iran tensions, elevated crude oil prices, a stronger dollar and foreign capital outflows. Pressure on the domestic currency was linked to concerns over India's import bill and risk aversion in global markets, while domestic market recovery and some moderation in crude prices limited the decline. Retail inflation rose above the central bank's four per cent target, and the merchandise trade deficit widened as imports, particularly crude-related imports, increased despite stronger exports.
July 13, 2026
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Predicate-offence acquittal removes the foundation for money-laundering proceedings arising from alleged coal-block allocation irregularities
Money-laundering proceedings under the Prevention of Money Laundering Act depend on the existence of a scheduled offence and identifiable proceeds of crime. Although money laundering is an independent offence, its prosecution cannot survive when the predicate offence forming its foundation has ended in acquittal. The basis for treating property or transactions as proceeds of crime is then removed, making continuation of proceedings for money laundering and company-related liability under the PMLA legally unsustainable. Proceedings may be reopened if the acquittal is later set aside or materially varied.
July 13, 2026
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PMLA bail requires satisfaction of twin statutory conditions amid allegations of impersonation, cheating, and suspected money laundering
The reported bail proceedings concerned the twin conditions under Section 45 of the Prevention of Money Laundering Act: reasonable grounds to believe that the accused was not guilty and assurance that he would not commit an offence while on bail. The prosecution also raised concerns regarding possible evidence tampering, witness intimidation, and repetition of similar conduct. The accused relied on a serious heart ailment and constitutional protection against punitive pre-trial detention, while the reported order noted his medical stability in custody and that the investigation complaint had not yet been filed.
July 13, 2026
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Frozen political party accounts raise questions on representative authority, Election Commission recognition, and preventing money laundering during investigation
Permission to operate three Trinamool Congress bank accounts frozen by the Enforcement Directorate was sought before the Calcutta High Court in connection with a probe into alleged dishonest financial dealings, unlawful collection of money, and routing of suspected funds through specified accounts. The Enforcement Directorate challenged the petition's maintainability, asserting that the filers lacked authority and had not disclosed an ex parte civil court order. The petitioners relied on the party constitution and the Election Commission's jurisdiction over recognition of political parties, while the Enforcement Directorate maintained that releasing the funds would undermine the prevention of money laundering.

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Corp. Laws / SEBI / IBC

4 Chandigarh University Law Graduates Become Judicial Officers, 244 Secure Jobs at Corporate Law Firms

July 23, 2026

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Over 1400 CU Law Students Undergo Internship at Supreme Court, High Courts, Top Law Firms & Judicial Institutions in 2025-26
CHANDIGARH, India, July 23, 2026 /PRNewswire/ -- With early career guidance and practical legal training being provided by Chandigarh University (CU) to its law students, four CU students have secured coveted positions as Civil Judges cum Judicial Magistrates and over 244 have been hired by various corporate law firms and legal branches of top law firms and private companies, in the past four years, in addition to hundreds of students practicing law in various courts including High Courts and Supreme Court.




Chandigarh University boosts employability of its law students by providing practical exposure to aspiring legal professionals and has facilitated internships for over 1,400 of its law students at some of India's most prestigious judicial and government institutions in the past one year, helping them gain practical experience in judicial proceedings, policymaking, legal research, litigation, and public administration for a successful career in the legal profession.


Sharing details, Deepinder Singh Sandhu, Senior Managing Director, Chandigarh University, said "Aastha Sharma, from the LLM Batch of 2019–2022 who secured 12th rank in the J&K Civil Services (Judicial) Examination, 2023, has been appointed as a Civil Judge in Jammu and Kashmir. Another standout student from the BBA LLB (Hons) program (Batch 2018–21), Jashanpreet Kaur, achieved success in the Punjab Judicial Services Examination and was appointed as a Civil Judge cum Judicial Magistrate in 2023. Vishwas Khatak, an LLB student of Batch 2017–20, cleared the Haryana Judicial Services Examination and was appointed as Civil Judge (Junior Division) cum Judicial Magistrate First Class in 2022. Anusha Raj, a student of LLM Batch of 2021-22, has secured position as Assistant Registrar at the Bihar State Legal Services Authority, Patna."
He said that this significant milestone is a testament to the university's industry-aligned curriculum, dedicated mentorship, and unwavering commitment to shaping the next generation of judicial officers. "Chandigarh University curriculum is aligned with judiciary and competitive exams, supported by mentoring, legal drafting practice, research training, and expert sessions by judges, senior advocates, and legal professionals. Going beyond traditional classroom teaching, our students get the opportunity to get regular interaction with sitting judges and legal professionals. These engagements give students a real-world perspective on the judiciary and help them take informed career decisions," he said.


Sandhu said Chandigarh University also has a robust placement program that serves as bridge between the legal profession and students.


"Our placement programs work regularly to generate placement and training opportunities for the students. Apart from practicing law in various courts, over 244 Chandigarh University students have also been hired by various corporate law firms and legal branches of top private companies, including TACT India Pvt. Ltd, Gurgaon; Equilaw Partners, New Delhi; MACS & Associates Chartered Accountants, New Delhi; IOTA Analytics, Mohali; Civic-Minds India Pvt Ltd, Mohali; Matani-Legal Private Limited, Kanpur, UP; EXO Edge India LLP, Mohali; LAW & LEGAL Chandigarh; Naks Legal, Delhi; PACER Digital India Pvt. Ltd ,Mohali; Steel Strips Ltd, Chandigarh; Virtual Admins , Mohali; Madar Financial, Noida; Assentio Mentium Law Offices, Ghaziabad, Delhi; Lawyered.in and Vidhi Chambers," he added.


Deepinder Singh Sandhu said that through the internships at the Supreme Court, Punjab and Haryana High Court, Union Ministry of Law and Justice, Punjab Human Rights Commission, Punjab State NRI Commission, Consumer Courts and prestigious law firms across the country, over 1400 Chandigarh University's law students have got the opportunity to gain first-hand experience of court proceedings, courtroom arguments, case management, research and functioning of judicial institutions, government bodies and law firms.


"This year, 14 of our law students got an internship opportunity at the Supreme Court, 305 students did an internship at High Courts at 15 States, 766 in District Courts across 19 States, 179 students did internships at lower courts, 79 did internships at 82 Corporate Law Firms in 8 States and 2 foreign countries South Africa and Zimbabwe, 5 students did internships at office or Chambers of Advocates, 21 did internship at legal branches of Multi-National Companies (MNCs), 5 at Non-Governmental Organisations (NGOs), 12 Students did internships with retired judges or government law officers, 8 in the Punjab Human Rights Commission, 6 in the Punjab State NRI Commission, 8 in the Punjab State Consumer Court, and 4 in the Punjab District Consumer Court. These internships serve as a strong foundation towards future Judicial Services Examination and distinguished legal careers of our students. The remarkable response from prestigious institutions for giving internships to our students reflects the quality of legal education at Chandigarh University," he said.


Deepinder Singh Sandhu added, "The objective of these internships is to strengthen students' practical legal skills and provide early professional exposure before they join the legal profession. Chandigarh University law students enrolled for the 5-Year Integrated Law Program complete a minimum of 20 weeks' internship, and students of the 3-Year Law Program complete at least 12 weeks' internship at various courts and tribunals, offices of practicing advocates, law firms, legal NGOs and legal departments of companies. To ensure that students gain practical exposure from the very beginning of their legal education, our one-month summer internship and 2-week winter internship programs start immediately after completion of the first year of our students at the university. These internship programmes bridge the gap between classroom learning and professional legal practice, while equipping them with the practical knowledge, confidence and skills required to excel in the legal profession."
He said that Chandigarh University facilitates unique legal specialization-based internships including Civil Law, Criminal Law, Corporate Law, Cyber Crime, Intellectual Property Rights (IPS), Arbitrations, Taxation, NGO and government legal bodies under the mentorship of reputed advocates and law firms, besides internships including stipend-based Internships for final year students under advocates ranging from Lower Courts, High Courts, Supreme Court, Corporate Law Firms as well as reputed Judges and government bodies.


About Chandigarh University
Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the fields of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.


Website address: https://www.cuchd.in/
(Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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