India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
The Economic and Financial Crimes Commission (EFCC) has launched an investigation into Rajesh Kumar, who was arrested at the Murtala Muhammed International Airport, Lagos, for allegedly failing to declare $29,000 in his possession. Kumar, who was en route to India, was intercepted on Wednesday, July 7, 2025, during a routine screening by operatives of the Nigeria Customs Service (NCS) at the airport. Upon questioning, he claimed to be carrying only $6,000. A more thorough search revealed a significantly larger sum, triggering suspicion of potential money laundering. Speaking during the handover of the suspect to EFCC operatives, the Area Comptroller of the NCS, E.I. Harrison, stressed the importance of inter-agency collaboration in protecting Nigeria's economic integrity. "We have the mandate and authority to ensure that nothing injurious to our economy is allowed, particularly in this Command," Harrison said. "By handing over this case, we are taking a firm step to restore international confidence in Nigeria." He added that the money, the suspect's passport, and accompanying documents had been formally handed to the EFCC for further action. Receiving the suspect on behalf of the EFCC, Assistant Commander of the Commission and Head of the Special Control Unit Against Money Laundering (SCUML) in Lagos, Ibinabo Amachree, assured that the matter would be pursued with urgency. "This arrest demonstrates the strength of our ongoing collaboration with the Nigeria Customs Service and the Nigerian Financial Intelligence Unit (NFIU)," Amachree said. "It also strengthens our efforts as a nation to meet international anti-money laundering standards, especially as Nigeria works to exit the Financial Action Task Force (FATF) grey list." He pledged that the EFCC would follow through with the investigation and possible prosecution of the suspect in line with relevant financial regulations.
Hyderabad, Sep 26 (PTI) The Telangana government on Friday said it aims to attract Rs 1 lakh crore in investments in the aerospace industry over the next five years. According to a press release, State Industries Minister Sridhar Babu chaired a special meeting at the secretariat with leading representatives from the aerospace sector, engaging in in-depth discussions on the future of aerospace development in the state. ...Read More >
NEW DELHI: The Luthra brothers, Gaurav and Saurabh, owners of the Birch by Romeo Lane nightclub in Arpora where a massive fire killed 25 people earlier this month, are being deported from Thailand to India on Tuesday (Dec 16). The brothers are expected to land in Delhi around 1.30pm - 1.45pm on an IndiGo flight from Bangkok. Teams from central agencies, along with the Goa and Delhi Police, will take them into custody at the airport and produce them before the Patiala House Court, where the Goa Police will seek transit remand. The December 6 blaze, which broke out at the Arpora nightclub, is ...Read More >
"We find no merit in the present petition. The same is accordingly dismissed," a bench of justices Navin Chawla and Ravinder Dudeja said. A detailed copy of the verdict was awaited. James approached the high court against a trial court's August 7, 2025, order denying his request to be released from prison. He challenged Article 17 of the India-UAE extradition treaty, allowing prosecution for "connected offences" as well. Advocate Aljo K Joseph, who represented James, said that he had undergone ...Read More >
Lucknow: The Enforcement Directorate (ED) on Thursday registered a money laundering case against Jamaluddin alias Chhangur Baba, the alleged mastermind of an illegal religious conversion syndicate in the state. ED is now preparing to take him into custody.The probe stems from suspected foreign remittances exceeding Rs 100 crore into around 40 bank accounts linked to the accused and his associates.ED has sought the details of income tax returns of all 40 entities of Chhangur Baba in the last 10 years and information about immovable properties from respective SRO (sub registrar office). The 40 e ...Read More >
Chandigarh: After conducting searches at 11 locations across Punjab and Haryana on Wednesday, the Enforcement Directorate (ED) carried out raids at seven more sites in the two states on Friday in connection with the "donkey route" cases involving illegal immigrants deported from the US.During Wednesday's raids, the ED recovered 30 original passports from the residence of an agent allegedly involved in facilitating illegal migration through the donkey route. "Credible evidence has been recovered, indicating that agents conducted cash and hawala transactions worth several crores by duping prospe ...Read More >
New Delhi (India), December 16 (ANI): The deportation process of the Luthra brothers, Gaurav and Saurabh owners of the 'Birch by Romeo Lane' nightclub in Arpora, Goa, where 25 people were killed in a devastating fire on December 6, has been completed by Thai authorities and they have now boarded a flight for Delhi along with law enforcement officials. The duo, who fled to Phuket hours after the incident, will be brought to Delhi upon arrival in India. They are expected to be produced before the Patiala House Court for remand proceedings. Also Read | Vijay Diwas 2025: PM Narendra Modi Pays Tr ...Read More >
Delhi court grants bail to Sukesh Chandrasekhar in money laundering case related to the AIADMK's "two leaves" election symbol, reports PTI news agency. Chandrasekhar was accused of allegedly striking a deal of ₹50 crore to help the AIADMK faction keep the 'two leaves' poll symbol, regarding which a case was registered and the middleman arrested in 2017. The case pertained to an alleged attempt to bribe an Election Commission official by AIADMK (Amma) leader TTV Dinakaran for trying to get the ...Read More >
New Delhi, [India], July 5 (ANI): Nehal Deepak Modi, the brother of fugitive diamantaire Nirav Modi, allegedly played a crucial role in laundering proceeds of crime in the high-profile Rs 13,000 crore Punjab National Bank (PNB) fraud case as well as actively involved in the "disappearance and concealment of assets" and "destruction of evidence", officials said on Saturday. Also Read | Mumbai Ranked Among '100 Best Food Cities in the World' in TasteAtlas List; Six Indian Cities Make the Cut. The revelation comes after Nehal Modi was arrested in the United States on the basis of an extradition ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan Anand, his wife and their armed guards breached hospital security, physically assaulted staff, and thr ...Read More >
Pawa Ruia was arrested from near a five-star hotel in New Town area (File) ShowQuick Read Summary is AI-generated, newsroom-reviewed * Pawan Ruia was arrested for alleged involvement in a Rs 300 crore online fraud * A senior citizen was cheated of Rs 93 lakh after installing a fraudulent APK file * Funds were traced to accounts of shell companies linked to Ruia family members Did our AI summary help? Let us know. Switch To Beeps Mode Kolkata: Kolkata-based industrialist Pawan Ruia has b ...Read More >
New Delhi [India], April 7 (ANI): A Delhi court has granted bail to alleged conman Sukesh Chandrashekhar in a money laundering case, holding that continued incarceration beyond a reasonable period violates the fundamental right to personal liberty and speedy trial. Emphasising constitutional safeguards, the court observed that an accused cannot be kept in custody indefinitely when trial is unlikely to conclude soon. Allowing the plea under Section 479 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), the court directed Chandrashekhar's release on furnishing a personal bond of ₹5 lakh along wi ...Read More >
New Delhi [India], July 7 (ANI): Union Minister of Agriculture and Farmers Welfare & Rural Development, Shivraj Singh Chouhan on Monday inaugurated the 11th edition of the India Maize Summit, organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with (IIMR) Indian Institute of Maize Research. Speaking at event, Chouhan emphasized that 'Farmers' sewa is our mool mantra,' reaffirming the government's commitment to farmer-centric policies. He outlined a multi-pronged strategy to boost maize production, and increase farmer incomes, while ensuring environme ...Read More >
New Delhi [India], July 9 (ANI): Global money laundering and terrorist financing watchdog FATF has for the first time introduced the concept of state sponsored terrorism in its latest report, highlighting that such funding is a longstanding threat to international peace and security, stability of regional financial, and political systems. State sponsored terrorism means a state actively financing terrorist activities as part of its state policy. Before this, India had raised and identified state sponsored terrorism from Pakistan as a source of Terrorist Financing risk in its ML/TF risk asses ...Read More >
India's Financial Intelligence Unit (FIU-IND) has taken decisive action against 25 offshore cryptocurrency exchanges, issuing compliance notices for failing to meet India's anti-money laundering (AML) requirements. The FIU confirmed that these platforms have not registered under the Prevention of Money Laundering Act (PMLA), 2002, a regulatory framework extended to Virtual Digital Asset (VDA) service providers since March 2023. According to officials, the exchanges were actively servicing Indian users without authorization, raising concerns over the potential misuse of digital assets for mone ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
NEW DELHI: A Financial Action Task Force (FATF) report on a comprehensive update on terrorist financing risks, released this month, has for the first time mentioned the role of 'states' as terror sponsors, something India has been harping on while seeking to designate Pakistan as a state sponsor of terrorism.India had identified state sponsored terrorism from Pakistan as a source of terrorist financing risk in its money laundering/terror financing risk assessment in 2022. The findings of the FATF reinforces India's position as for the first time, it has introduced the concept of state sponsore ...Read More >
Panaji (Goa) [India], December 15 (ANI): Luthra Brothers, the owner of the Birch by Romeo Lane nightclub in North Goa, where 25 people were killed in a fire, will be deported from Thailand on Tuesday, Goa police said. Upon their arrival, officials from the central agencies will take Saurabh Luthra and Gaurav Luthra to the Patiala House Court in Delhi, from where the Goa Police will take them on transit remand. Luthra brothers are being deported from Bangkok to face charges for allegedly operating the club without proper safety permits. The blaze on December 6 in their club is suspected to ha ...Read More >
A young woman named Oleti Pushpa (22) was killed by her live-in partner Sheikh Shamma (22) in the Ambedkar Konaseema region of Andhra Pradesh, reported India Today. She was living with Sheikh for the past 6 months after she separated from her spouse. The incident took place in Siddhartha Nagar, B Savaram village of Rajolu mandal on 16th July. Shamma reportedly accused Pushpa of having affairs with other men. He forced her to engage in prostitution and frequently instigated fights with her when intoxicated. As per police, Shamma was addicted to ganja. On the fateful night, he against pressuri ...Read More >
Panaji (Goa) (India), December 16 (ANI): The Luthra Brothers-Gaurav and Saurabh, the owners of the Birch by Romeo Lane nightclub in Arpora Goa, where 25 people were killed in a fire, will be deported from Thailand today, according to the Goa police. Upon their arrival, officials from the central agencies will take Saurabh Luthra and Gaurav Luthra to the Patiala House Court in Delhi, from where the Goa Police will take them on transit remand. Luthra brothers are being deported from Bangkok to face charges for allegedly operating the club without proper safety permits. The blaze on December 6 ...Read More >
New Delhi [India], April 7 (ANI): A Delhi court has granted bail to alleged conman Sukesh Chandrashekhar in a money laundering case, holding that continued incarceration beyond a reasonable period violates the fundamental right to personal liberty and speedy trial. Emphasising constitutional safeguards, the court observed that an accused cannot be kept in custody indefinitely when trial is unlikely to conclude soon. Allowing the plea under Section 479 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), the court directed Chandrashekhar's release on furnishing a personal bond of ₹5 lakh along wi ...Read More >
On April 29, the special court had allowed Chhagan Bhujbal's pleas to travel abroad. (FILE) Mumbai: A special court has allowed Maharashtra minister Chhagan Bhujbal and his son Pankaj to extend their international travel, considering that their passports got damaged due to a fire at the Enforcement Directorate's Mumbai office in April. The father and son, in their pleas seeking extension of travel dates, claimed that the damage necessitated an urgent application for new "tatkal" passports. Th ...Read More >
New Delhi: A Delhi court on Monday allowed the plea of Bharat Rashtra Samithi (BRS) functionary K Kavitha seeking permission to travel to Los Angeles between Aug 16 and Sept 2 to secure admission for her younger son in a university.The court of special judge Dig Vinay Singh was hearing two applications filed by the BRS leader seeking the release of her passport and permission to travel abroad."The right to travel abroad has been considered to be an important facet of the right to life and liberty ...Read More >
New Delhi, May 20 (PTI) The Supreme Court has said there was "no rule" that a person accused of money laundering ought to spend a year in jail before being give bail as it allowed the relief to a businessman. A bench of Justices Abhay S Oka and Ujjal Bhuyan granted bail to businessman Anwar Dhebar in the alleged Rs 2,000 crore liquor scam case and said, "It is not a rule to be in custody for a year to get bail." He was arrested in August last year and has spent over nine months in jail. The top court said the maximum punishment for the offence alleged was seven years, and that the trial agai ...Read More >
Mumbai: A special court has allowed minister Chhagan Bhujbal and his son Pankaj to extend the foreign travel dates as their earlier plan was hit after their passports were damaged in the fire at the Enforcement Directorate (ED) office. The father-son duo, who are on bail in a money laundering case, had planned to have an overseas family trip tentatively between May 24 and June 6. Hence, in the April end, the duo approached the court, seeking the return of their passports from the ED's custody. However, the order to return the passport came two days after the blaze, which left the travel docu ...Read More >
NEW DELHI: In an important development, Nehal Modi - brother of fugitive Nirav Modi and one of the key accused in the Punjab National Bank's Rs 13,500 crore swindle and the related money laundering case - was arrested by US authorities from New York on Friday in an extradition case filed by ED and CBI.In the PNB money laundering case, the main accused - Nirav Modi and Mehul Choksi - were earlier arrested in the UK and Belgium, respectively, on India's extradition request and pending Red Corner Notices. They are currently in prison and have been denied bail till pendency of their extradition pr ...Read More >
VIJAYAWADA: YSRCP MP P V Midhun Reddy was arrested by Andhra SIT late on Saturday after nearly seven hours of questioning in the alleged Rs 3,200 crore liquor scam. The arrest comes after the anticipatory bail petitions of Mithun Reddy were rejected by AP high court and Supreme Court, reports Madhu Rasala.He is the second politician to be arrested in the alleged scam that took place during the previous YSRCP rule. With the latest arrest, the number of accused arrested so far has increased to 12.Earlier, Midhun Reddy arrived in Vijayawada from New Delhi amid heightened security. Krishna distric ...Read More >
New Delhi: Union Home Minister Amit Shah on Thursday appealed to all the State governments to set up a special cell in the state capital for absconding fugitives, stating that the absence of such cells always creates challenges in the extradition process of the criminals. "All states should have a special cell for absconders in the state capital, which fulfils the international criteria. On many occasions, the absence of such a cell for international fugitives becomes an issue in foreign courts. Although I don't believe this, the state government should set up such a cell so that nobody can m ...Read More >
New Delhi, Nov 14 (PTI) The Supreme Court on Friday agreed to examine a plea of former Tamil Nadu minister V Senthil Balaji seeking relaxation of his bail conditions in the money laundering case related to the alleged cash-for-job scam in the state. A bench of Justices Surya Kant and Joymalya Bagchi issued notice to the Enforcement Directorate (ED) on the plea of Balaji and sought its response in 10 days. The matter has been posted for hearing on December 1. Senior advocates Kapil Sibal and Narendra Hooda, appearing for Balaji, said he was seeking modification of two conditions in the bail o ...Read More >
New Delhi [India], April 8 (ANI): The Delhi High Court on Wednesday dismissed the plea moved by Christian Michel James, challenging Article 17 of the UAE-India Extradition treaty. He is an accused in the Augusta Westland Chopper deal corruption and money laundering case. Division bench of justices Navin Chawla and Ravinder Dudeja dismissed the plea and said, "We find no merit in the petition." The detailed order of judgement is to be uploaded by the High Court. Also Read | EC Gives 'Ultimatum' to TMC Over West Bengal Elections; Derek O'Brien and Mahua Moitra Hit Back. Michel had claimed tha ...Read More >
The car had a Maharashtra number plate. Luggage was tied to the roof of the vehicle, which made officials believe that a family had come from Maharashtra to visit Agra. A shocking and heartbreaking incident has come to light from the Taj Mahal complex in Agra, Uttar Pradesh. An elderly man was found unconscious and tied inside a locked car parked near the western gate. The incident has raised serious questions about human sensitivity and responsibility. According to Aaj Tak, the man had been locked inside the car for several hours. The extreme heat and humidity had made his condition critic ...Read More >