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    Court takes cognizance of chargesheet on 'godman' Kharat in money laundering case, summons accused
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September 9, 2026
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Money laundering cognizance follows allegations of criminal proceeds being routed through benami accounts and portrayed as legitimate property.
Cognizance of a prosecution complaint for money laundering was taken against the principal accused and co-accused, with summonses issued. The material prima facie indicated generation of proceeds of crime through alleged fraudulent conduct and their projection as untainted property. The alleged mechanism involved benami accounts, use of devotees' identity documents without consent, and routing of funds through bank accounts, a cooperative credit society and family members' accounts. Co-accused were alleged to have aided and abetted the laundering activities.
September 9, 2026
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Comparable GST tax base governs revenue growth calculations, excluding discontinued compensation cess from year-on-year comparisons across different levy structures.
GST revenue growth must be calculated on a comparable tax base using the same levies for both periods. CBIC treats year-on-year growth based on Central GST, State GST and Integrated GST as the appropriate comparison and considers the inclusion of compensation cess from a different levy structure misleading. Compensation cess was discontinued except for tobacco and related products from 22 September 2025, with the remaining tobacco-related cess removed from 1 February 2026. Revenue tables separately display cess, while growth calculations use the corresponding GST tax base.
September 9, 2026
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Aadhaar-registration mismatch resolution permits manual vehicle service applications after identity verification and registration record correction where needed.
Aadhaar-registration certificate mismatches affecting vehicle-related services may be resolved through manual acceptance and processing of applications after verification of identity documents. Where the owner's name or address differs, officials may examine Aadhaar, voter identity card, PAN card or passport, correct the registration certificate, and process vehicle transfers or no-objection certificate applications. Owners may alternatively update Aadhaar details where required by the online system. Relevant documents must be scanned and preserved before subsequent processing.
September 9, 2026
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Money-laundering investigation: searches, seizures and account freezing followed allegations of dubious transactions, bitcoin purchases and inflated newspaper circulation.
Prevention of Money Laundering Act proceedings concerned allegations of dubious account transactions by a newspaper publisher and entities linked to its director. Investigative scrutiny alleged substantial cash deposits, closure of accounts after cash deposits, bitcoin purchases from purportedly tainted sources without identifiable business rationale, and inflation of claimed newspaper circulation to obtain higher advertisement revenue. Searches led to seizure of documents and digital devices, while the publishing company's bank accounts were frozen.
September 9, 2026
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Industrial export promotion supports participation in international trade fair through collective displays, partner meetings, logistics assistance, and market-entry services.
INNOPROM.India International Industrial Trade Fair in New Delhi is scheduled to facilitate trade, technology engagement and commercial cooperation between Moscow-based industrial enterprises and Indian customers. A Moscow collective stand will feature high-technology products and solutions, while participating companies will engage potential customers. Export-support arrangements include funding for exhibit transport and meetings with foreign partners. Wider support includes information, financial, insurance and logistics assistance, as well as digital access to expert advice, analytics, marketplace promotion assistance and online training.
September 9, 2026
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Bitcoin transactions from allegedly tainted sources trigger scrutiny over unexplained business rationale and suspected money laundering.
Enforcement action under the Prevention of Money Laundering Act involved searches of premises linked to a publishing company, associated entities, directors and a promoter, with bank accounts frozen. Account scrutiny allegedly identified cash deposits, closed accounts and Bitcoin purchases from tainted sources without identifiable business rationale. The investigation also alleged inflation of newspaper circulation figures to misrepresent readership and obtain higher advertising revenue, in connection with an FIR alleging communal disharmony and dubious account transactions.
September 9, 2026
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Bilateral trade and investment cooperation advances through market-access dialogue, business linkages, and a time-bound trade agreement review.
India and Thailand discussed expansion of bilateral trade and investment, stronger business-to-business linkages, trade-promotion activities, and wider market opportunities for enterprises. Progress in reviewing the ASEAN-India Trade in Goods Agreement was considered, with emphasis on time-bound engagement through the India-Thailand Joint Trade Committee. The discussions supported a balanced and mutually beneficial framework for greater market access, resolution of market-access issues, and stronger regional and global supply-chain linkages.
September 9, 2026
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Money-laundering investigation scrutiny: alleged disguised consultancy payments prompted calls for an anti-corruption FIR against political figures.
The Enforcement Directorate sought an anti-corruption FIR against Pinarayi Vijayan, Veena T, P. A. Mohamed Riyas and others on material gathered during a money-laundering investigation. It alleged that Cochin Minerals and Rutile Ltd made fraudulent payments to Exalogic Solutions, Veena's now-defunct company, under the guise of IT consultancy services. Vijayan criticised the investigation as politically motivated and as an attempt to target the cooperative sector.
September 9, 2026
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Evidentiary scrutiny of conflicting trading data governs review of alleged misleading buyback announcements and fraudulent trading practices.
Evidentiary scrutiny of conflicting historical trading data is required in the challenge to regulatory penalties arising from an alleged misleading open-market share buyback announcement. The Securities Appellate Tribunal must examine the discrepancy between the investigation report and exchange-furnished trading data, determine which data accurately reflects the trading position, and record specific findings on identified discrepancies. The allegations concern inadequate buy orders despite available sell orders, failure to utilise the prescribed minimum buyback size, and fraudulent conduct under unfair trade practices and buyback requirements.
September 9, 2026
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International crude oil price volatility increases fuel retailer under-recoveries, import costs, inflation pressures, and constraints on domestic rate transmission.
Elevated international crude prices, combined with unchanged retail petrol and diesel rates, have produced negative marketing margins for state-owned fuel retailers and under-recoveries on domestic LPG. India's reliance on imported crude increases exposure to a higher import bill, trade-balance pressure and currency weakness. Sustained crude-cost increases may feed into domestic inflation through fuel, transport and energy costs, while also raising input costs for oil-sensitive industries and constraining monetary easing if inflation broadens.
September 9, 2026
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Multi-lender digital lending platform centralises borrower onboarding, disclosures and lender selection while maintaining transparent credit offer comparisons.
Pye is a multi-lender digital lending platform that matches retail borrowers with regulated lending partners according to credit need, loan type and timeline. It centralises know-your-customer compliance, documentation and disclosures, avoiding repeated borrower processes across applications. Available offers are to be displayed neutrally, with pricing, terms and annual percentage rate disclosed before a borrower proceeds. Borrower data is shared only with lenders selected for an application, while the platform is intended to make credit access available through broader digital-service channels.
September 9, 2026
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Fintech-enabled financial inclusion advances through digital payments, MSME credit access, responsible innovation, and trust-centred financial safeguards.
Fintech expands financial inclusion through digital payment and banking infrastructure, enabling customers to transact, save and borrow through accessible channels. It improves efficiency through faster account opening and payment settlement, lower transaction costs, AI-driven fraud detection and real-time supervision. Cash-flow-based lending, account aggregators and the Unified Lending Interface support collateral-light formal credit for micro, small and medium enterprises. Regulatory engagement supports self-regulation, digital public infrastructure and responsible innovation while safeguarding trust, safety, inclusion, fairness and efficiency.
September 9, 2026
Show AI Summary
Virtual asset AML/CFT compliance requires registration, reporting and record keeping, with non-compliant providers facing access takedown notices.
Virtual Digital Assets Service Providers operating in India, whether offshore or onshore, must register with FIU-IND as reporting entities when undertaking specified virtual-asset activities. Their obligations are activity-based and include registration, reporting, record-keeping and other requirements under the PMLA and rules made under it. Notices under the PMLA were issued to fifteen providers for non-compliance, accompanied by notices seeking takedown of their applications and URLs from public access.
September 9, 2026
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Startup and skills mission expands entrepreneurship training, formal employment pathways, export facilitation, and government-service advancement opportunities.
The Chief Minister Startup and NIPUN Mission promotes youth employment, skill development, entrepreneurship, innovation and technology-based industries through entrepreneurship centres, technology laboratories, industry excellence centres and a job engine aligned with industry requirements. The Export Promotion Policy strengthens export infrastructure, market access, trade facilitation and value-added agricultural and industrial exports. The maximum age limit for eligible government and allied personnel applying for other government services or higher posts has also been increased.
September 9, 2026
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Illicit cannabis trafficking enforcement targets concealed consignments across road, rail and air routes, using seizures and arrests under narcotics law.
Directorate of Revenue Intelligence operations targeting illicit narcotic drug trafficking resulted in the seizure of around 740 kg of cannabis, high-grade hydroponic cannabis and charas, and the arrest of 13 persons under the NDPS Act, 1985. Road-based interceptions involved drugs concealed in trucks and cars, including loading areas, floor cavities and secret compartments. Rail and air-route interdictions addressed passenger-based trafficking, including charas concealed on train passengers and high-potency cannabis carried by passengers arriving on international flights.
September 9, 2026
Show AI Summary
Portfolio management services introduce credit-focused strategies with custody, valuation, disclosure and risk safeguards for eligible investors.
Yubi PoleStar is a SEBI-registered portfolio management service offering credit-focused strategies for income, liquidity, long-term wealth creation and bespoke multi-asset portfolios. Investment selection and monitoring use a six-gate credit architecture, weighted credit-risk assessment, investment committee oversight, independent valuation and segregated client custody. SEBI registration does not guarantee performance or returns. Investments involve market, credit and liquidity risks, including loss of principal, and are subject to the disclosure document, prescribed minimum investment requirement and applicable accredited-investor relaxations.
September 9, 2026
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Advance licensing sugar refiners redirect export-oriented refined sugar to domestic sales to increase supply and restrain prices.
Advance licensing scheme sugar refiners are required to divert refined white sugar, produced from imported raw sugar ordinarily intended for export, to the domestic market to augment supplies. Domestic sugar-price management also includes duty-free sugar imports, tighter stockholding limits for bulk users and dealers, and restrictions on sugar exports. These measures operate against revised production estimates, projected domestic demand, available stocks, and concern over price increases by sugar mills.
September 9, 2026
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Zero-coating TitaniumSteel cookware uses NanoFusion surface engineering to deliver naturally non-stick, high-heat, metal-utensil-compatible cooking performance.
SuperPan introduces TitaniumSteel, a titanium-and-stainless-steel material engineered through a patent-pending NanoFusion process for uncoated, naturally non-stick cookware. Titanium is permanently fused with stainless steel, and microscopic surface texturing is designed to retain a thin oil film without a synthetic non-stick layer. The five-ply construction is described as supporting durability, high-heat cooking, metal-utensil use and food release without PTFE, PFAS or other synthetic coatings.
September 9, 2026
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State-funded welfare schemes do not alone establish exclusionary conduct when fare benefits influence passenger choice and private operator revenues.
State-funded free travel for eligible passengers on specified public transport services does not ordinarily attract competition-law scrutiny merely because private operators lose passengers or revenue. Passenger preference arising from a fare concession, where the State bears the cost, does not by itself establish abuse of dominance, denial of market access, or unfair or discriminatory conditions. Differential commercial impact must be accompanied by independent exclusionary or unfair market conduct to constitute a competition-law contravention.
September 9, 2026
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Energy security cooperation broadens across fuels, nuclear power, critical minerals, electrification, and alternative logistics amid market disruption.
Energy security cooperation between Russia and China covers oil, gas, coal, nuclear power, renewable generation, battery storage, electricity grids, critical minerals, transport electrification and alternative logistics. Supply-chain resilience is linked to diversified fuel supplies, strategic oil reserves, mineral access and reduced dependence on vulnerable transport corridors. Alternative routes are presented as reducing delivery times and logistics costs, while bilateral settlements in national currencies support the wider economic relationship amid trade disruption, currency volatility and energy-market uncertainty.

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Customs & Trade

BRICS adopts landmark declaration as PM Modi calls to replace 'pyramid of privilege' in global governance

September 12, 2026

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New Delhi, Sep 12 (PTI) The Global South must become a "rule shaper" and the existing "pyramid of privilege" in global governance must give way to a "platform of partnership", Prime Minister Narendra Modi said on Saturday at the BRICS Summit where India secured a consensus joint declaration despite sharp differences between the UAE and Iran over the West Asia conflict.

In his opening address at the two-day India-hosted summit, Modi also proposed a 10-point roadmap for global governance reform under the BRICS framework and advocated for a 'Seafarers' Emergency Support Network' to safeguard sailors facing heightened risks from ongoing global and regional crises.

The summit, attended by a galaxy of world leaders including Russian President Vladimir Putin, Chinese President Xi Jinping, Iranian President Masoud Pezeshkian and Abu Dhabi Crown Prince Mohamed bin Zayed Al Nahyan, assumed greater significance as it unfolded against a backdrop of escalating geopolitical headwinds driven by the Russia-Ukraine war, West Asia instability and new US tariff policies.

BRICS has emerged as an influential grouping as it brings together 11 major emerging economies of the world, representing around 49.5 per cent of the global population, around 40 per cent of the global GDP and around 26 per cent of the global trade.

As the BRICS chair, India has placed the Global South at the heart of its agenda by seeking actionable solutions for food, energy and supply chain security primarily to insulate developing nations from the economic consequences of conflicts.

"The current structure of global governance resembles a pyramid: power and decision-making are concentrated at the top, while the lower tiers consist of nations that are affected by these decisions but unable to shape them," Modi said.

"Today, the Global South stands in the front row of global crises but in the back row of decision-making. We must transform this 'pyramid of privilege' into a 'platform of partnership' -- one where every nation has a voice, every member has a stake, and the development of humanity lies at the heart of every effort," he said.

To this end, the prime minister proposed that BRICS jointly formulate a 10-point roadmap for global governance reform under the broader framework of the grouping's reform roadmap. Modi said the roadmap should be finalised by the time of the next summit.

"In formulating this roadmap, we must focus on three key aspects: representation, responsiveness, and rule-making.

In his address, Chinese President Xi hailed the BRICS bloc as the world's most influential platform for cooperation among emerging markets and developing countries and called on the grouping to play its "due role" in bringing peace in West Asia.

Russian President Putin too underlined the need for united efforts by BRICS to confront major challenges.

As the leaders concluded the first day's deliberations, Modi announced the New Delhi BRICS declaration, which was adopted unanimously.

The declaration is seen as a major diplomatic victory for India as sharp differences between the United Arab Emirates and Tehran regarding the West Asia conflict had triggered apprehensions about adoption of the document as BRICS is a consensus-based bloc.

The declaration skipped making any direct mention of the US strikes on Iran or Iranian military's attacks on several Gulf Arab nations. It also did not criticise Russia's war on Ukraine but was severely critical of Israel for continuing violence in Gaza and called for fulfilling the aspirations of the Palestinian people.

BRICS, without naming the US, also voiced serious concerns over the proliferation of "trade-restrictive actions" such as "indiscriminate" tariffs and non-tariff measures as well as protectionism, saying they threatened to further reduce global trade, disrupt global supply chains, potentially exacerbating existing economic disparities.

The grouping came out against "unilateral sanctions" and "coercive measures" that are contrary to international law, in what is seen as a veiled criticism of Western economic sanctions on Russia.

The BRICS leaders appeared to endorse New Delhi's position to end the West Asia conflict through "dialogue and diplomacy" and stressed the need to work together to maintain a smooth flow of global trade, supply chains and energy, in accordance with "applicable" international law.

The grouping also fully backed India's call for zero tolerance towards any form of terrorism and shunning double standards in countering the menace as the top leaders of the influential grouping agreed to have a concerted approach in dealing with the challenge.

It condemned in the "strongest terms" the Pahalgam terror attack in Jammu and Kashmir last year that killed 26 people.

In his remarks, the prime minister also highlighted the critical role being played by the seafarers community in the flow of global trade and said their safety should be a matter of priority.

"Seafarers make a massive contribution to global trade, yet they often find themselves lacking support during difficult times. I propose that we establish a 'Seafarers' Emergency Support Network'," he said.

"This would connect the maritime authorities and diplomatic missions of relevant countries, facilitating assistance with distress alerts, medical aid, family notifications, and evacuations," he said.

After the West Asia conflict began in February, India has been critical of Iranian attacks on merchant vessels near the Strait of Hormuz that have killed and injured Indian seafarers. Ten Indian seafarers are among the 16 Indians killed so far in the West Asia conflict.

In the declaration, BRICS also pressed for reform of the United Nations and even favoured having a woman as the UN Secretary General.

In the evening, PM Modi hosted a dinner reception for the BRICS leaders. On the margins of the summit, Modi held a series of bilateral meetings including with Chinese President Xi Jinping, Malaysian Prime Minister Anwar Ibrahim and Abu Dhabi Crown Prince Mohamed bin Zayed Al Nahyan.

In the meeting with Xi, Modi emphasised that peace and tranquillity along the Line of Actual Control (LAC) remain essential for the development of India-China relations.

The two leaders reaffirmed that both countries should take a strategic and long-term perspective on their ties and that differences should not become disputes. PTI MPB SAP RT RT

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