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.
A Lucknow bench said that it was of the considered view that there was no ground to interfere in the proceedings under the PMLA against the petitioners in exercise of its powers under section 482 CrPC. The bench, however, clarified that the observations of the verdict would not affect the trial proceedings, according to an order made available on Wednesday. A bench of Justice Subhash Vidyarthi passed the order recently on October 17, dismissing the petition filed by the cooperative society and
New Delhi, Dec 4 (PTI) "On the face of it you are a corrupt person. Crores of rupees were recovered from your premises," the Supreme Court on Wednesday told former West Bengal minister Partha Chatterjee, held in an alleged cash-for-job scam in the state. A bench of Justices Surya Kant and Ujjal Bhuyan, which reserved its verdict on the bail plea of Chatterjee, questioned the enforcement directorate (ED) over his continued incarceration saying he cannot be kept inside for an indefinite period. "On the face of it you are a corrupt person. Crores of Rupees were recovered from your premises. Wha ...Read More >
Bengaluru: In a setback to Karnataka Chief Minister Siddaramaiah, the Directorate of Enforcement (ED), Bangalore Zonal Office has provisionally attached 142 immovable properties having an approximate market value of Rs 300 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the Mysuru Urban Development Authority (MUDA) scam. Chief Minister Siddaramaiah is accused number one in the case and the investigation is also conducted against others who got the illegal allotments done through the MUDA. His wife B.M. Parvathi is the second accused. "The ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA) at locat ...Read More >
Bengaluru, June 6 (PTI) Karnataka State Cricket Association (KSCA) President Raghu Ram Bhat and a few other office bearers moved the Karnataka High Court on Friday seeking to quash the FIR filed against them in the Chinnaswamy stadium stampede case. Police on Thursday registered an FIR against RCB, event management firm DNA entertainment private limited, and Karnataka State Cricket Association (KSCA). Karnataka Chief Minister Siddarmaiah too on Thursday had instructed the state DGP and IGP to immediately arrest the representatives of RCB, DNA entertainment and KSCA in connection with the sta ...Read More >
Mumbai, Jun 6 (PTI) The Enforcement Directorate on Friday conducted searches at the premises of actor Dino Morea and some others in Maharashtra apart from some locations in Kerala as part of a money laundering investigation linked to the Mithi river desilting "scam", official sources said. The fraud is alleged to have caused a Rs 65 crore loss to the Brihanmumbai Municipal Corporation (BMC). The raids are covering more than 15 premises located in Mumbai and Kochi. This includes the premises of Morea, his brother, contractors and some others, the sources said. The investigation is being cond ...Read More >
Berhampur (Odisha), Jun 6 (PTI) Environmental activist Medha Patkar on Saturday appealed to the people of Odisha for protection of Rushikulya river. The government planned to construct a dam in the river Pipalapnaka under Sorada block in the district. While participating in the Save Rushikulya river movement in Ganjam district, she said, "Rivers may be small or big, but they are our mother. We have to protect the rivers from attacks." She attended a meeting were organised by the Rushikulya Banchao Kriyaanusthan Committee (RBKC) and the Centre for Climate Justice, spearheading the agitation a ...Read More >
The Supreme Court of India has said that mere harassment is not sufficient to hold someone guilty of the offence of abetting suicide, and there must be clear evidence of direct or indirect incitement. Photograph: ANI Photo The observations came from a bench of justices Vikram Nath and P B Varale which delivered its verdict on an appeal challenging a Gujarat high court order which refused to discharge a woman's husband and her two in-laws for allegedly harassing her and driving her to suicide. ...Read More >
Bengaluru stampede: Police take officials of RCB, event management firm into custody Officials of RCB and event management firm DNA entertainment private limited were taken into custody on Friday in connection with the stampede outside Chinnaswamy stadium that claimed lives of 11 people and injured over 50, police sources said on Friday. Nikhil Sosale, Head of Marketing and Revenue of RCB, Sunil Mathew and Kiran Kumar from DNA entertainment private limited are among those being questioned, they said. On Thursday, Karnataka Chief Minister Siddarmaiah has instructed the DGP and IGP of the sta ...Read More >
NEW DELHI: An Enforcement Directorate team undertaking searches in a cyber fraud linked money laundering case was allegedly attacked here on Thursday, officials said. The agency has registered a police FIR about the incident that took place at a farmhouse that was raided by ED officials in the Bijwasan area of southwest Delhi that falls under the Kapashera police station. An Enforcement Officer (EO) suffered minor injuries during the attack. He is continuing with the searches after he was given first aid, officials said. The probe pertains to a case against the PYYPL app. The alleged accus ...Read More >
New Delhi [India], June 8 (ANI): A minor girl died due to injuries on her face at a hospital after she was allegedly sexaully assaulted in the National Capital, Delhi police said in a statement. Police said that a call regarding the sexual assault of a minor girl was received at Dayalpur police station on June 7 at 8: 41 pm. Upon reaching the location, the police team found that a minor girl in an unconscious state had been taken to JPC Hospital by her father, where she was declared dead on arrival, police added. Prima facie, the attending doctors at the hospital observed visible injuries o ...Read More >
Mumbai: The Enforcement Directorate (ED) has summoned Bollywood actor Dino Morea and asked him to appear next week. He has been summoned in connection with the Rs 65 crore Mithi river desilting case, ED officials said. On Friday, the Enforcement Directorate (ED) conducted raids at fifteen locations in the Mithi river desilting case, including at actor Dino Morea's home in Mumbai. The raid comes days after the actor appeared before the Mumbai Police for questioning in a corruption case. His brot ...Read More >
New Delhi [India], December 4 (ANI): The Enforcement Directorate (ED) seized cryptocurrency worth Rs 1.36 crore (USDT) from private wallets, along with unexplained cash amounting to Rs 47 lakh, during an investigation into a major money laundering case. The case pertains to cyber fraud involving illegal proceeds of approximately Rs 640 crore, generated through betting, gambling, part-time job scams, and phishing operations. The ED also recovered various incriminating documents linked to the fraud during its crackdown. Also Read | Banking Laws (Amendment) Bill, 2024 Set To Boost Consumer Expe ...Read More >
Hours after Atul Subash's wife Nikita Singhania, her mother Nisha and brother Anurag were arrested for allegedly abetting the suicide, the Bengaluru techie's father, Pawan Kumar Modi has questioned where Atul's four-year-old son is and said the family was worried about him. Modi thanked the police for arresting the woman and her family members. However, he said, "We don't know where she has kept our grandson. Has he been killed or is he alive? We don't know anything about him. I want my grandson ...Read More >
Mumbai, Jun 6 (PTI) The Enforcement Directorate on Friday conducted searches in Maharashtra and Kerala as part of a money laundering investigation linked to the Mithi river desilting "scam" that is alleged to have caused a Rs 65 crore loss to the BMC, official sources said. The raids are covering more than 15 premises located in Mumbai and Kochi. The investigation is being conducted under the Prevention of Money Laundering Act (PMLA), the sources said. The ED case against certain officials of the Brihanmumbai Municipal Corporation (BMC) and some others stems from a Mumbai Police economic off ...Read More >
Bhubaneswar: Revenue minister Suresh Pujari on Saturday said Odisha would not be allowed to follow the lawless path in sand operations like it is in Bihar and West Bengal, while responding to the recent assault of an additional tehsildar in Kaptipada block, Mayurbhanj district, by the sand mafia. He promised stringent action against the sand mafia regardless of their connections, while speaking to mediapersons here on Saturday."The Kaptipada incident represents a serious escalation in conflict between law enforcement and the sand mafia. The attack on officers performing their enforcement dutie ...Read More >
New Delhi, Dec 13 (PTI) The Supreme Court on Friday granted conditional future bail to former West Bengal minister Partha Chatterjee in a money laundering case related to the cash-for-job scam. A bench of Justices Surya Kant and Ujjal Bhuyan said that Chatterjee shall be released on February 1, 2025 subject to the trial court framing charges before the winter vacation and examination of vulnerable witnesses by the second and third week of January 2025. The top court said upon his release Chatterjee shall not hold any public office but can continue as MLA. The bench said that a suspect canno ...Read More >
New Delhi: Former IAS probationer Puja Khedkar, accused of cheating and wrongly availing OBC and disability quota benefits in the civil services examination, has moved the Supreme Court for anticipatory bail. A bench of Justices B V Nagarathna and Satish Chandra Sharma is scheduled to hear the plea on January 15. Khedkar has challenged the December 23 2024 Delhi High Court order which refused to grant her anticipatory bail. The high court said a strong prima facie case was made out against Khedkar and an investigation was required to unearth the "larger conspiracy" to manipulate the system ...Read More >
Ranchi, May 21 (SocialNews.XYZ) The Rs 100-crore liquor scam in Jharkhand appears to be linked with a similar racket in neighbouring Chhattisgarh, with central agencies such as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) likely to expand their probe into the matter. On Tuesday, the Anti-Corruption Bureau (ACB) of Jharkhand arrested senior IAS officer and former Excise Secretary Vinay Chaubey and Joint Excise Commissioner Gajendra Singh in connection with the Jharkhand liquor scam. Both officers have already been named as accused in the Chhattisgarh liquor s ...Read More >
Chandigarh (Punjab) [India], June 6 (ANI): Vice President Jagdeep Dhankhar on Friday expressed concern over the recent cash controversy involving former Delhi High Court judge Justice Yashwant Varma. A substantial amount of unaccounted cash was discovered at Justice Varma's residence after a fire broke out in mid-March. The incident has sparked widespread debate and scrutiny. He questioned the absence of an investigation into the issue and why no FIR was registered for the same. The Vice President said, 'A painful incident happened in mid-March in Delhi at the residence of a sitting judge. ...Read More >
Ranchi: Jharkhand Chief Minister Hemant Soren got big relief from the Jharkhand High Court, which on Wednesday exempted him from personally appearing before the MP-MLA Special Court in Ranchi in a case related to alleged disobedience of Enforcement Directorate (ED) summonses. The Bench of Justice Anil Kumar Choudhary issued a notice to the ED and directed it to file a response. The next hearing has been scheduled for December 16. Earlier, the MP-MLA Special Court had dismissed Soren's plea for exemption from personal appearance on November 25, ordering him to appear on December 4. Aggrieved ...Read More >
New Delhi, Dec 13 (PTI) The Supreme Court on Friday granted conditional future bail to former West Bengal minister Partha Chatterjee in a money laundering case related to the cash-for-job scam. A bench of Justices Surya Kant and Ujjal Bhuyan said that Chatterjee shall be released on February 1, 2025 subject to the trial court framing charges before the winter vacation and examination of vulnerable witnesses by the second and third week of January 2025. Also Read | Atul Subhash Suicide Case: Wife Nikita Singhania Absconds, Karnataka Police Arrest Her Mother, Brother From Uttar Pradesh's Jaunp ...Read More >
New Delhi, May 21 (SocialNews.XYZ) The Supreme Court on Wednesday refused to entertain a plea seeking criminal prosecution of Justice Yashwant Varma, who is embroiled in a controversy surrounding the alleged discovery of a huge pile of burnt cash in the storeroom attached to his bungalow in the national capital after the fire brigade had gone there to douse a blaze on March 14. "There was an in-house inquiry report. It has been forwarded to the President of India and the Prime Minister of India for action. If you are seeking a writ of mandamus, you have to first make a representation to those ...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 >
Bengaluru: The Karnataka State Cricket Association (KSCA) administrative committee on Friday moved the High Court seeking the quashing of the FIR against them in connection with the stampede that occurred outside the Chinnaswamy Stadium on Wednesday. The petition filed by committee president Raghuram Bhat, secretary A Shankar, and treasurer E S Jayaram is scheduled for hearing at 2.30 pm today before a bench of Justice Krishna Kumar. Police on Thursday registered an FIR against RCB, event management firm DNA Entertainment Private Limited, and Karnataka State Cricket Association (KSCA). Karna ...Read More >
New Delhi, June 6 The Enforcement Directorate (ED), Delhi Zonal Office, launched a major crackdown in an ongoing ... New Delhi, June 6 The Enforcement Directorate (ED), Delhi Zonal Office, launched a major crackdown in an ongoing money laundering investigation involving Shri Sidhdata Ispat Private Limited and associated entities. The agency carried out search operations at 12 locations across Delhi, Ghaziabad, Noida, and Panipat under the provisions of the Prevention of Money Laundering Act (PMLA), said a statement of the ED. The searches were conducted in connection with a large-scale bank ...Read More >
New Delhi [India], December 10 (ANI): The Directorate of Enforcement (ED) on Tuesday opposed the bail petition of Christian Michel James, a British national and alleged middleman, before the Delhi High Court. James is an accused in the money laundering case linked with the alleged Rs 3,600-crore Agusta Westland helicopter scam. The defence lawyer argued that the trial was unlikely to commence soon and that, even if James were convicted, he would face a maximum sentence of seven years, having already served six years in custody. However, the ED's counsel countered, stating that James posed a ...Read More >
New Delhi: The Supreme Court on Wednesday dismissed a plea seeking criminal proceedings against former Delhi High Court judge Justice Yashwant Varma, following the controversial discovery of burnt cash bundles at his residence in March. The court advised the petitioners to first seek redressal from the Prime Minister and the President before approaching the judiciary. Petition rejected, redress route clarified A bench comprising Justice Abhay S Oka and Justice Ujjal Bhuyan observed that a report on the matter has already been submitted to Prime Minister Narendra Modi and President Droupadi M ...Read More >
NEW DELHI: Seemanth Kumar Singh was appointed new commissioner of Bengaluru after CM Siddaramaiah took action against top cops following the Bengaluru stampede that claimed eleven lives.Earlier in the day, Karnataka chief minister Siddaramaiah suspended Additional Director General and Commissioner of Police B Dayananda, along with several other police officers, with immediate effect. The decision was taken following the stampede in front of Chinnaswamy Stadium during RCB's victory celebrations, where eleven people died and more than 50 were injured. He also ordered arrest of the representative ...Read More >
Bhopal, June 5 (SocialNews.XYZ) Senior BJP leader and Madhya Pradesh Cabinet Minister for Urban Development, Housing and Parliamentary affairs, Kailash Vijayvargiya stirred controversy on Thursday with remarks disapproving of women wearing short outfits, asserting that such a trend is a foreign concept of beauty and not aligned with Indian tradition. A six-time legislator and a state government minister, Vijayvargiya emphasised that in Indian culture, women are regarded as a form of Goddess and should dress in a manner that reflects grace and dignity. Comparing cultural perspectives, he stat ...Read More >
BENGALURU: Police commissioner B Dayananda was among five senior Bengaluru cops, three of them IPS officers, suspended Thursday as the Karnataka govt scurried to fix responsibility for the death of 11 cricket fans and injuries to 75 others in a stampede outside Chinnaswamy Stadium ahead of IPL-winning RCB's planned victory parade the previous afternoon.CM Siddaramaiah also ordered the arrest of unnamed "top" officials of RCB, event management firm DNA and Karnataka State Cricket Association (KSCA), based on two FIRs alleging criminal mismanagement of the celebratory event. A CID special invest ...Read More >