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    Bajaj Finance Acquires 5% Stake in TrueFan AI as part of Finserv Intelligence
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September 8, 2026
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Strategic equity investment in AI video technology supports expanded enterprise automation, personalised communication, and startup innovation collaboration.
Bajaj Finance acquired a 5% equity stake in TrueFan AI through Finserv Intelligence, an applied research and innovation initiative supporting scalable technology enterprises. The investment follows existing use of TrueFan AI's platform for personalised customer engagement and dealer enablement. The parties intend to expand collaboration in personalised marketing, high-volume video generation, live-avatar assistance, multilingual communication, learning and development, and digital onboarding. The partnership combines equity participation with development of technological capabilities and long-term strategic value.
September 8, 2026
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Corporate share transaction validity was sustained after allegations of altered control and financial impropriety were rejected in prolonged proceedings.
The National Company Law Appellate Tribunal set aside the Tribunal's decision after considering historical corporate records and contemporaneous material, rejecting allegations of financial impropriety concerning the private placement and share transfers. It upheld the relevant corporate decisions and transactions. The Supreme Court declined to interfere with the appellate determination, concluding the prolonged challenge brought by Bhagwati Developers Private Limited.
September 8, 2026
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PMLA information-sharing enables a police FIR request over alleged bribery, sham consultancy payments, and suspected fund routing.
Enforcement Directorate used PMLA information-sharing powers to seek a police FIR over alleged bribery, sham consultancy payments, and laundering of funds linked to CMRL and Exalogic Solutions. The allegations concern purported payments for IT consultancy services, use of Exalogic Solutions as a corporate vehicle for routing payments, and alleged transfers of funds to Dubai. The investigation also draws on allegations of fictitious corporate expenditure that generated cash for unlawful payments.
September 8, 2026
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PMLA information-sharing in alleged consultancy payments enables police FIR registration and potential money-laundering proceedings thereafter.
Section 66(2) of the Prevention of Money Laundering Act permits the Enforcement Directorate to share criminal-investigation findings with law-enforcement agencies for registration of a fresh FIR or complaint. A police case registered on that information can form the basis for a PMLA case. In the reported investigation, FIR registration was sought on evidence gathered during the PMLA probe and searches concerning alleged consultancy payments.
September 8, 2026
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Governance and risk oversight gain focus as strategic advisers support institutional-grade alternative credit operations for MSMEs.
Strategic Advisory Board appointments add Mr. Rajaram and Mr. Bala Swaminathan to UpTik's advisory leadership for its invoice discounting and alternative credit operations. Their respective experience in structured finance, regulatory compliance, banking operations, treasury and institutional finance is intended to strengthen governance, risk oversight, compliance, credit-management frameworks and institutional partnerships. The appointments support expansion of transparent and responsible alternative credit access for MSMEs.
September 8, 2026
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Homebuyer claims and delayed possession require a comprehensive proposal, while frozen accounts remain unavailable for insolvency operations.
Proceedings concerning delayed real-estate projects require a fresh comprehensive proposal addressing possession, refunds, delayed-possession compensation, and enforcement-related claims of all homebuyers across the developer's group entities. An inadequate proposal may lead to appointment of a High-Powered Committee to assume relevant responsibilities. Frozen bank accounts remain under restraint, and a request by the Insolvency Resolution Professional to operate an account for company affairs was not entertained. The proceedings also raise concerns over enforcement of real-estate regulatory directions and protection of homebuyers facing prolonged delays.
September 8, 2026
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Crude oil price volatility heightens India's import, inflation and fuel-retailer margin pressures amid West Asia supply disruptions.
Elevated crude prices arising from West Asia supply and maritime-transit risks increase India's oil import costs and may pressure the trade balance and currency. Higher international crude prices can feed into domestic inflation through fuel, transport and energy costs, depending on domestic price pass-through and the duration of the increase. Retail fuel-price restraint may compress fuel-retailer margins and increase LPG under-recoveries. Refiners, distributors, airlines, petrochemical businesses and other energy-intensive sectors also face higher costs, particularly where crude, LPG and naphtha supplies depend on regional transit flows.
September 8, 2026
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Alternative investment fund private placements require eligible investors and governing offering documents, with market-risk and no-advice disclosures.
Alternative Investment Fund units are not offered through public solicitation. Subscriptions, purchases or dealings in units may occur only by private placement to eligible investors and on the terms of the relevant private placement memorandum and constitutive documents. The material is not investment advice or a recommendation concerning securities or companies. Securities-market investments carry market risk, and past performance does not assure future results. Category III fund management is also associated with investment-process assessment, risk governance and institutional infrastructure.
September 8, 2026
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PMLA information-sharing mechanism triggers requested corruption FIR based on alleged consultancy payments and suspected proceeds of crime.
The requested police case concerns allegations that CMRL made fraudulent payments to Exalogic Solutions, a now-defunct company, by representing them as consideration for IT consultancy services. The investigation also alleged generation of proceeds of crime by CMRL management and persons connected with the recipient company. Searches reportedly resulted in seizure of handwritten notes containing details of certain fund transfers to Dubai.
September 8, 2026
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PMLA information-sharing mechanism supports police FIR referral based on alleged CMRL-linked payments and investigation material.
PMLA information-sharing power under section 66(2) permits the Enforcement Directorate to transmit money-laundering investigation findings and material recovered through searches to a law-enforcement agency for consideration of a fresh FIR or complaint. An FIR registered on that basis may also support a PMLA case. Registration was reportedly sought in relation to alleged CMRL-linked bribery involving purported fraudulent consultancy payments and material said to record fund transfers to Dubai.
September 8, 2026
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Export-led growth in technology goods and autos widens trade imbalances amid tariffs, strategic supply constraints, and diversification.
China's export growth accelerated in August, driven by demand for automobiles and high-technology goods, while imports also rose and the trade surplus widened. Export growth continued to outpace imports, supported by expanded shipments to Southeast Asia, Latin America and Africa and by rising exports of electric vehicles, industrial machinery and semiconductors. Reliance on exports amid weak domestic consumption and investment contributed to concerns over global economic imbalances and continuing strategic trade tensions.
September 8, 2026
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Foreign-exchange intervention supports rupee stability amid elevated oil prices, geopolitical tensions, and shifting global market indicators.
Rupee depreciation in the interbank foreign-exchange market reflected elevated Brent crude prices, Middle East geopolitical tensions and weaker investor confidence. RBI dollar sales and foreign-currency inflows under special schemes supported range-bound currency trading despite external pressures. A softer dollar index, foreign institutional equity purchases, inflation data and the Federal Open Market Committee meeting were identified as relevant indicators for currency-market direction.
September 8, 2026
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Performance-linked incentives for public sector bank executives are kept in abeyance pending bipartite settlement and joint note discussions.
Implementation of the Performance Linked Incentive Scheme for Public Sector Bank executives is kept in abeyance for FY 2025-26 following employee concerns about its structure. The scheme will be considered during ongoing Bipartite Settlement and Joint Note discussions. Employee representatives also raised issues concerning ex-gratia benefits and medical facilities for retired employees. The concerns are to be addressed through dialogue, consultation and mutual understanding.
September 8, 2026
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Customs trade data show stronger export and import growth, driven by automotive and high-technology demand.
China's customs trade indicators for August record export growth of 25% year-on-year, accelerating from July's 23.9% rate, supported by demand for automobiles and high-technology goods. Imports rose 28.2% year-on-year, up from July's 27.5% growth. Higher import and export values produced a trade surplus of $119.1 billion, widening from $112.5 billion in July.
September 8, 2026
Show AI Summary
Money-laundering searches of media-linked premises prompted allegations of political vendetta, while investigators cited suspected funding and circulation irregularities.
Enforcement Directorate searches at premises linked to a Rajya Sabha member and an Urdu daily were undertaken in connection with a money-laundering investigation. The investigation arose from a police FIR and concerned allegations of material promoting communal disharmony, unaccounted cash transactions, suspicious funding, overstated circulation figures to secure government advertising, and advertising-linked funding connected with a Dubai-based entity. The political party disputed the action, alleging political motivation and targeting of a media voice.
September 8, 2026
Show AI Summary
Money-laundering investigation into alleged Valmiki Corporation fund diversion includes renewed questioning and scrutiny of related irregularities.
Money-laundering investigation concerning alleged misappropriation of Karnataka Maharishi Valmiki Scheduled Tribes Development Corporation Limited funds involved further recording of a former minister's statement under the Prevention of Money Laundering Act. The inquiry follows earlier questioning, arrest, grant of bail and filing of a chargesheet over alleged fund-transfer irregularities. The former minister denied involvement, characterised the matter as bank fraud, and stated that no documents were sought during the inquiry.
September 7, 2026
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Aadhaar-based learning licence authentication faces challenge over age verification, identity safeguards, and compliance with prescribed licensing formalities.
Aadhaar-based online processing of learning and driving licence applications is challenged on the ground that Aadhaar is not valid proof of age and that reliance on Aadhaar details may enable issue of licences to underage applicants. Allegations that licences were issued using a deceased person's Aadhaar number and despite an obscene uploaded photograph raise identity-verification and security concerns. The Union and State maintain that Aadhaar alone does not result in licence issuance because prescribed formalities must also be completed.
September 7, 2026
Show AI Summary
Digital payment transparency for religious institutions supports direct trust-account donations, reconciliation, and technology-led banking services.
Digital donation collection facilities for temples and religious establishments include kiosks, Bharat Bill Payment System payments and UPI QR-code payments. Donations may be credited directly to the relevant trust account, supported by transaction reconciliation and digital records to improve transparency and ease of transactions. Technology services also cover municipal dues payments and property-tax assessment, alongside banking support for defence-sector ecosystems, MSMEs, agriculture and priority-sector lending.
September 7, 2026
Show AI Summary
Rupee exchange-rate movement reflected crude oil pressures, domestic equity weakness, foreign inflows, and a softer dollar.
Foreign-exchange market conditions resulted in the rupee closing weaker against the US dollar after initial support from foreign currency deposit inflows. Rising crude oil prices and weakness in domestic equity markets weighed on sentiment and offset support from a softer dollar and foreign investor equity purchases. Future movement may remain influenced by foreign inflows, crude oil prices, domestic market conditions, geopolitical tensions and inflation data.
September 7, 2026
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Surrogate advertising allegations challenge notices targeting brand ambassadors and raise jurisdiction and hearing concerns for product promoters.
Challenge to surrogate advertising allegations concerns notices requiring brand ambassadors promoting Vimal Elaichi to prove that it differs from prohibited pan masala, halt promotions, and remove digital materials. The product promoter contests the notices because they were addressed only to the actors, it was not heard, and the regulator allegedly lacked jurisdiction to stop the advertisements. Territorial jurisdiction to entertain the challenge is also contested.

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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and reduced litigation at the 167th Income Tax celebrations in New Delhi

July 25, 2026

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The Union Finance Minister reiterates fair, efficient, transparent and taxpayer-centric administration

Income-tax Act, 2025 and new rules and forms mark landmark reforms towards simpler and taxpayer-friendly tax system: Revenue Secretary Shri Arvind Shrivastava

CBDT Chairman Ravi Agarwal highlights progress in faster return processing, grievance redressal and litigation reduction

CBDT advances technology-led tax administration through PAN 2.0, ITBA 2.0, IEC 3.0 and SAKSHAM NUDGE

FM Smt. Sitharaman releases six publications highlighting India's growing leadership in international taxation and taxpayer-centric governance

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participated in the 167th anniversary of Income Tax Day celebrations by Central Board of Direct Taxes (CBDT) in New Delhi.

Shri Arvind Srivastava, Secretary, D/o Revenue; Shri Ravi Agrawal, Chairman, CBDT; Shri Vivek Chaturvedi, Chairman, CBIC: Members of CBDT and CBIC and other senior officers and officials of the Department were present on the occasion.

Addressing the 167th Income Tax Day celebrations, Union Finance Minister Smt. Sitharaman emphasised that the role of the Income Tax Department has evolved from tax collection to building a fair, efficient, transparent and taxpayer-centric tax administration. She described the implementation of the Income-tax Act, 2025 as a landmark reform that has simplified the law, reduced compliance costs and strengthened ease of doing business. She also highlighted the enhanced capacity of the e-Filing portal, improved return processing, prompt refunds and significant progress in grievance redressal, while stressing that the Department must move beyond disposal of grievances to analysing recurring issues and preventing them through systemic improvements. She outlined the 5Rs of Responsive Tax Governance - Recognise, Respond, Redress, Reflect and Reform, as guiding principles for taxpayer service, emphasising that honest taxpayers should experience convenience, opportunities to correct bona fide errors and a tax administration that exercises its authority with humility. Stressing that taxpayers are partners in India's development, she called for a continued focus on reducing litigation by strengthening tax certainty.

FM Smt. Sitharaman also underlined the importance of strengthening institutional capacity through modern infrastructure, technology and continuous investment in human capital. She appreciated the progress made in upgrading offices and welfare facilities and called for greater capacity building in emerging areas such as artificial intelligence, data analytics, forensic accounting, international taxation, transfer pricing, digital assets, cybersecurity and leadership development. She urged the Department to deepen voluntary compliance, further simplify the taxpayer experience, strengthen tax certainty, harness technology responsibly, build institutional excellence, reinforce public trust and embrace continuous improvement. Congratulating the officers and staff of the Income Tax Department on the occasion of the 167th Income Tax Day, she expressed confidence that the Department would continue to play a pivotal role in promoting ease of doing business, strengthening taxpayer confidence and supporting India's economic growth.

In his address on the occasion, Shri Arvind Shrivastava, Secretary, D/o Revenue, Ministry of Finance, extended his greetings to the officers and officials of the Income Tax Department and described the implementation of the Income-tax Act, 2025 and the new Income-tax Rules and Forms as landmark reforms towards a simpler, clearer and more taxpayer-friendly tax system, and appreciated the Department's efforts in strengthening taxpayer outreach, grievance redressal, litigation management and technology-driven service delivery. Emphasising the need to leverage technology while keeping taxpayers at the centre of reforms, he called for continued focus on ease of compliance, tax certainty, quality service delivery and innovation, and expressed confidence that the Department would continue to strengthen public trust and contribute to the vision of Viksit Bharat by 2047.

Welcoming the dignitaries on behalf of the Income Tax Department, Shri Ravi Agrawal, recalled the priorities set out by the Union Finance Minister during the previous Income Tax Day celebrations and the expectations articulated at the PRARAMBH programme earlier this year, he outlined the Department's progress over the past year in translating those directions into measurable outcomes. He highlighted the Department's sustained efforts towards reducing litigation, faster disposal of appeals and enhancing tax certainty through Advance Pricing Agreements.

He also noted the achievements in the areas of expeditious return processing, appeal-effect orders and refunds, and strengthening grievance redressal. He further highlighted the Department's achievements in expanding taxpayer outreach through initiatives such as PRARAMBH and Samvaad. He also underscored the Department's continued focus on leveraging technology through initiatives such as PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and the SAKSHAM NUDGE framework to simplify compliance, improve taxpayer experience and strengthen voluntary compliance. He expressed his appreciation to all CBDT verticals, including the Exemptions vertical, and the officers involved in framing the Rules and Forms under the Income-tax Act, 2025. Expressing gratitude for the continued guidance and support of the Hon'ble Finance Minister, he reaffirmed the Department's commitment to building a fair, transparent and trusted tax administration through innovation, collaboration and citizen-centric governance.

The Union Finance Minister also released six flagship publications of the Income Tax Department, reflecting its continued commitment to knowledge sharing, capacity building, transparency and taxpayer-centric governance. These included:

  • Avlokan, the inaugural Annual Report of the FT&TR Division highlighting India's growing leadership in international taxation;
  • The Manual on Exchange of Information; the updated Guidance Note on FATCA & CRS;
  • India's first comprehensive Guidance Note on Crypto Asset Reporting Obligations for Crypto-Asset Service Providers;
  • The Annual Report of the APA Programme, showcasing the programme's progress; and
  • Re-engineering Tax Governance, tracing the Department's journey of transformation from paper-based processes to an integrated, technology-driven and taxpayer-centric digital ecosystem.

Four short films showcasing the history of taxation, the Karmyogi Shiksha Path Portal, achievements of Income-Tax department in FY 2025-26 and the reimagining of taxpayer communication in the digital age were also screened during the event.

The function ended with a vote of thanks proposed by Smt. G. Aparna Rao, Member, CBDT. She thanked the Union Finance Minister for gracing the occasion and inspiring the Department with her words of wisdom. She also thanked all the other dignitaries present on the occasion. She also thanked the media and organisers of the event.

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Acts Income Tax