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A Bengaluru Consumer Court ordered Flipkart to refund ₹13,799 to 80-year-old Purnachandra Thoudam for delivering a different product as a replacement for his original order.…
Amazon Web Services AWS announced a significant $230-million commitment on June 13 to support generative AI startups globally. This investment aims to expand its Generative AI…
Indkal Technologies, a consumer electronics startup, raised $36 million in its maiden funding round led by Mauritius-based Aries Opportunities Fund. The funding, entirely primary,…
The Reserve Bank of India RBI imposed a ₹1,45,50,000 penalty on the Central Bank of India on June 11, 2024, for non-compliance with RBI directions on loans, advances, and customer…
The Reserve Bank of India RBI imposed a ₹96.40 lakh penalty on Sonali Bank PLC on June 10, 2024, for violations related to the Credit Information Companies Regulation Act, 2005,…
As per GOI Notification F.No. 4 25 - W&M/2017 dated October 06, 2017, under the Sovereign Gold Bond Scheme, premature redemption of Gold Bonds is allowed after the fifth year from…
CredAble, a fintech firm in Asia, has secured Rs 30 crore in debt funding from SIDBI to expand its operations and offer affordable financing solutions to MSMEs and women-led…
In FY24, procurement of services via the Government eMarketplace GeM surged by 205%, totaling Rs 2.07 lakh crore, constituting nearly half of GeM’s gross merchandise value GMV .…
The Directorate of Enforcement ED , Allahabad Sub-Zonal Office, has provisionally attached properties worth Rs. 13.58 Crore under the Prevention of Money Laundering Act PMLA ,…
The National Company Law Tribunal NCLT has granted Go First, the grounded air carrier, a fourth 60-day extension to complete its Corporate Insolvency Resolution Process CIRP . The…
The National Company Law Tribunal NCLT has granted Go First, the grounded air carrier, a fourth 60-day extension to complete its Corporate Insolvency Resolution Process CIRP . The…
Jatin Ram Manjhi, India's newly appointed MSME Minister, encourages aspiring entrepreneurs to register on the Udyam portal for free to kickstart their businesses. Emphasizing…
The Enforcement Directorate ED arrested Padamchand Jain, proprietor of Shree Shyam Tubewell Company, in Jaipur under the Prevention of Money Laundering Act PMLA related to alleged…
The Directorate of Enforcement ED , Kochi Zonal Office conducted searches on 11/06/2024 at 14 locations in Kerala, Maharashtra, and Chattisgarh under PMLA provisions, targeting…
The Directorate of Enforcement ED , Hyderabad Zonal Office conducted search operations in Hyderabad, Kurnool, and Ghaziabad as part of a money laundering probe against M/s…
The Directorate of Enforcement ED , Lucknow Zonal office has provisionally attached 121-acre land and buildings of Glocal University Saharanpur, valued at Rs. 4,440 Crore, owned…
The Directorate of Enforcement ED , Jaipur Zonal Office arrested Padamchand Jain on 13.06.2024 under the Prevention of Money Laundering Act PMLA , 2002, related to the Jal Jeevan…
Delhi's Additional Sessions Judge Mukesh Kumar adjourned Chief Minister Arvind Kejriwal's bail plea in a money laundering case to June 19, following a request by the Enforcement…
Dr. Dhruv Janssen-Sanghavi has launched his own firm, Janssen-Sanghavi & Associates - International Tax Counsel, with offices in Amsterdam and Mumbai. This move follows his role…
LIC clarified that it currently has no plans to enter the health insurance market through acquisition, contrary to recent reports. \r The state-owned insurer emphasized that while…
The Mumbai Bench of the National Company Law Tribunal NCLT clarified that under Section 43 of the Insolvency and Bankruptcy Code, 2016 IBC , fraudulent intent is not necessary to…
The National Company Law Appellate Tribunal NCLAT ruled that under the Insolvency and Bankruptcy Code IBC , the National Company Law Tribunal NCLT should not exceed its…
The NCLT Kolkata bench, comprising D. Arvind Technical Member and Bidisha Banerjee Judicial Member , ruled that breach of a settlement agreement between M/s. Simplex…
The Kerala High Court stayed recovery proceedings under the Income Tax Act, 1961 against Jolly Saji until the Income Tax Department decides on the stay petition filed alongside…
Satish Marathe, founder member of Sahakar Bharati and a member of RBI's central board, clarified that the Reserve Bank of India RBI will not mandate mergers of urban co-operative…
SEBI issued an interim order against SecUR Credentials and Managing Director Rahul Belwalkar for alleged securities market regulation violations. SecUR, listed on NSE Emerge and…
The Gauhati High Court rejected an Interlocutory Application seeking condonation of a 122-day delay in filing a matrimonial appeal against an ex-parte divorce decree. Justice…
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that redemption fine and penalty can be imposed on re-exporting prohibited goods. M/s. Scania…
The Delhi High Court has upheld that the Manufacture and Other Operations in Warehouse Regulations, 2019 MOOWR do not exclude solar power generation under Section 65 of the…
In a recent ruling, the Madras High Court granted provisional release of 115 units of used Digital Multifunction Printers imported by Salim Enterprises upon payment of enhanced…
The Karnataka High Court quashed a Section 498-A IPC case against a woman's father and mother-in-law, ruling that the complaint lacked specific allegations against them. Justice M…
The Madhya Pradesh High Court upheld the detention of an alleged habitual offender despite acquittals, citing his involvement in 16 criminal cases, including serious offenses…
The Central Consumer Protection Authority CCPA fined Edu Tap Learning Solutions ₹3 lakh for publishing misleading advertisements claiming 144 selections in the 2023 RBI Grade B…
A Bengaluru Consumer Court ordered Flipkart to refund ₹13,799 to 80-year-old Purnachandra Thoudam for delivering a different product as a replacement for his original order.…
Japan has passed an antitrust law requiring Apple to allow third-party app stores on iPhones. According to 9To5Google, Japan’s parliament enacted the law on June 12, preventing…
State Bank of India Chairman Dinesh Kumar Khara highlighted a surge in corporate credit demand, noting a pipeline of loans worth Rs 5 lakh crore. Corporates, previously reliant on…
Sumeet Kariwala of Morgan Stanley views the Indian banking sector as entering a strong upcycle, with normalized credit costs, steady loan growth, and healthy earnings. He favors…
In April 2024, Indian firms, including non-banking financial companies, filed proposals with the RBI to raise $4.28 billion through External Commercial Borrowings ECBs . Of this,…
The Madhya Pradesh High Court upheld the detention order against a habitual offender, emphasizing the seriousness of the 16 criminal cases against him, including charges under the…
Beauty brand RENEE Cosmetics is poised to raise a new round led by existing investors Evolvence and Edelweiss, reportedly amounting to Rs 100 crore. Sources indicate the deal…
Binny Bansal, co-founder of Flipkart, urged Indian founders to incorporate their startups in India amid a trend where many companies are relocating their bases from countries like…
Indkal Technologies, a consumer electronics startup, raised $36 million in its maiden funding round led by Mauritius-based Aries Opportunities Fund. \r The funding, entirely…
Ethereal Machines, an advanced manufacturing startup, secured $13 million in a Series A funding round led by Peak XV Partners and Steadview Capital, with participation from…
Amazon Web Services AWS announced a significant $230-million commitment on June 13 to support generative AI startups globally. This investment aims to expand its Generative AI…
In New Delhi, Textiles Secretary Rachna Shah chaired the 7th meeting of the Empowered Programme Committee EPC for the National Technical Textiles Mission NTTM , announcing the…
On June 13, the Reserve Bank of India announced a 14-day variable rate repo VRR auction worth Rs 75,000 crore scheduled for June 14. The auction aims to address current liquidity…
The RBI has authorized Aadhaar authentication under the Aadhaar Act for compliance with privacy standards under Section 11A of the Prevention of Money-laundering Act, 2002, based…
On June 12, 2024, the Enforcement Directorate ED in Mumbai conducted search operations at 19 locations in Mumbai and Pune under the Prevention of Money Laundering Act PMLA , 2002.…
The Directorate of Enforcement ED , Allahabad Sub-Zonal Office, has provisionally attached properties worth Rs. 13.58 Crore under the Prevention of Money Laundering Act PMLA ,…
The Directorate of Enforcement ED , Srinagar Zonal Office, filed a Supplementary Prosecution Complaint SPC in the Hon’ble Special Court PMLA , Srinagar, under the Prevention of…
A Bengaluru Consumer Court ordered Flipkart to refund ₹13,799 to 80-year-old Purnachandra Thoudam for delivering a different product as a replacement for his original order.…
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