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.
MUMBAI: The Bombay High Court on Wednesday asked news channel Republic TV and its editor-in-chief, Arnab Goswami, to avoid "hitting below the belt" while covering the Enforcement Directorate's (ED's) investigations into companies linked to industrialist Anil Ambani. A single-judge bench of justice Milind Jadhav orally told Goswami and Republic TV to "bring down the rhetoric" and refrain from "giving superlative taglines to news" that could be seen as attacking an individual. "Please run stories without using adjectives or disparaging someone. You have been in this field for years. You are aware about all the scams, etc.," the bench said. The court was hearing a defamation suit filed by Ambani against Republic TV and Goswami for linking him to ongoing ED investigations into alleged loan fraud involving three companies he founded but no longer controls -- Reliance Communications (RCom), Reliance Home Finance Ltd, and Reliance Commercial Finance Ltd. In his petition, Ambani stated that the continuous coverage on Republic TV regarding the ED's proceedings involving the three companies had caused "irreparable damage" to his reputation. The industrialist claimed that the allegations against him are misleading, as he had already stepped down as a non-executive director of RCom in November 2019 and did not hold any executive or managerial role in the three companies thereafter. He added that Goswami knew this, but continued to link him to the cases and called him a "financial scam mastermind, cheat, money launderer, and a fraud". "These imputations have created a false perception of guilt and have exposed the applicant to public hatred, ridicule, and contempt," the petition said, adding that this has caused "irreparable injury" to Ambani's reputation and professional dignity. The plea sought a temporary injunction against ARG Outlier, the company that owns Republic TV, Goswami and other related entities. During the hearing on Wednesday, senior advocate Mahesh Jethmalani, appearing for Goswami, contended that his client had made a "true and fair comment" on his show. He claimed that several adjudicating authorities had used the same language in their orders, adding that Ambani is "not a financial wizard, but a financial scamster". However, advocate Mayur Khandeparkar, representing Ambani, claimed that the news channel had run a "smear campaign" against his client in the last week of February. He referred to instances in which Ambani's picture was displayed on the channel along with words such as "financial scamster and fraudster". The high court expressed concern over statements made against Ambani, saying they could be interpreted in many ways. "You are doing your duty of giving news, which is okay, but hitting below the belt is not okay," it said. Clarifying that the comments made on Goswami's show were "not fair", the court added that the channel should avoid using certain words and "exercise some restraint". "I am not gagging any media channel. Ultimately, it is the right of the public to know. This is one of the fairest mediums in today's time. All that I am saying is just run your story and not resort to using such comments. You carry on with your stories. Your stories are, in fact, what the nation wants to know. But just do not hit below the belt," justice Jadhav said. While Jethmalani assured the court that Republic TV would not use such words in the future, the court directed the channel to file a formal reply to Ambani's petition, and adjourned the matter till April 16. "Let there be a fair level playing field for everybody. Don't go below the belt. Wait for my orders and avoid using disparaging words," the court concluded.
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 >
Hyderabad, Dec 18 (Maxim News): The Cyberabad Police, in collaboration with the Society for Cyberabad Security Council (SCSC), launched a significant awareness initiative under the project P.R.O.T.E.C.T. (Preventing Risks Online Through Education, Collaboration, and Training) on December 17, 2024, at the Cyberabad CP Office Main Conference Hall. Click Here To Join Us On WhatsApp Cyberabad CP Avinash Mohanty said & quot; Cybercrime has become one of the fastest-growing challenges in our society today, and it is a privilege for all of us to gather here to discuss solutions. Every year, cyber c ...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 >
Mumbai, Jan 27 (PTI) The Bombay High Court on Monday suggested Abhishek Lodha and his brother Abhinandan Lodha to try and amicably resolve the issue over the use of 'Lodha' trademark. The Abhishek Lodha-promoted Macrotech Developers Ltd earlier this month filed a suit in the HC against Abhinandan Lodha's real estate firm, House of Abhinandan Lodha, claiming the name 'Lodha' was their trademark and no one else could use it. The suit sought Rs 5,000 crore as damages from Abhinandan Lodha's company. In an interim application, Macrotech Developers sought a perpetual injunction against the defen ...Read More >
New Delhi [India], February 7 (ANI): The Delhi High Court on Friday reserved the order on an application moved by Baramulla MP Engineer Rashid seeking custody parole to attend ongoing parliament session amidst jurisdictional row. However, the National Investigation Agency (NIA), while opposing the custody parole, stated that Rashid Engineer does not need to respond to any questions. They emphasized that this request is generic and pointed out that Engineer has no speech to deliver. Senior Advocate Sidharth Luthra appeared for NIA also argued that taking an oath and campaigning are separate m ...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 >
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 >
New Delhi [India], December 4 (ANI): The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an on-going investigation of a transnational cyber enabled fraud case involving large-scale financial scams. CBI registered the said case under Sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, based on a written complaint received from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India. The complaint alleged that unknown ...Read More >
Speaking at IIT Bombay's Techfest 2024, Mr Adani, the 27-year old younger son of infrastructure magnate Gautam Adani, said the future of technology is both scary and exciting. India cannot stay out of global technological race, said Jeet Adani. Mumbai: India cannot stay out of global technological race and should build capabilities that will keep it at the top while remaining vigilant against its misuse, said Jeet Adani, Director, Adani Airport Holdings Ltd. Speaking at IIT Bombay's Techfest ...Read More >
Mumbai: The Bombay High Court has raised concern over terminally ill prisoners languishing in Maharashtra's jails and asked the state govt to consider proper implementation of an advisory on grant of medical bail or to place them in house arrest. A division bench of Justices Revati Mohite Dere and Prithviraj Chavan on Monday said they visited the Yerwada central prison in Pune on Sunday and met with prisoners, particularly women inmates, and inspected the condition there. The bench referred to a ...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, Dec 4 (PTI) The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minist ...Read More >
The Supreme Court overturned a Madras High Court decision. The high court had refused to dismiss defamation charges against Union minister L Murugan. Murugan faced these charges over statements made in 2020. The Supreme Court accepted Murugan's argument. He said he did not intend to defame the Murasoli Trust. The case is now closed.The Supreme Court on Thursday quashed criminal defamation proceedings against Union minister L Murugan on a complaint filed by the Chennai-based Murasoli Trust for his ...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 >
New Delhi [India], December 11 (ANI): Rohini District Court on Wednesday issued a notice to BJP MP Bansuri Swaraj in a civil defamation suit filed by AAP leader Satyendra Jain. Jain has stated that Bansuri Swaraj made defamatory remarks in an interview with a television channel in October 2023. Senior Civil Judge Naina Gupta issued notice to Bansuri Swaraj and others and sought a response to the suit. The next date of hearing is 22 February 2025. Jain has prayed for direction to the TV channel to take down the content in question and restrain her from making further statements. Jain has cla ...Read More >
Bengaluru News: Amid a surge in cases of digital arrest across the nation, a 68-year-old senior citizen in Bengaluru reportedly lost Rs 1.94 crore to cyber fraudsters from his fixed deposit. The victim stated that the fraudsters claimed that they were from the Mumbai crime branch and threatened him with arrest if he did not pay the amount to them. The fraudsters allegedly held the man under digital arrest for almost a week and claimed that he was involved in a money laundering case linked to Indian businessman Naresh Goyal. The scam began on November 30 when the victim received a video call o ...Read More >
New Delhi: The Delhi High Court on Wednesday, May 21, rapped commentator Abhijit Iyer Mitra for his alleged defamatory and abusive social media posts against nine women journalists of media house Newslaundry and asked him to remove the posts within five hours. The court was hearing a plea by nine women journalists of Newslaundry and sought an injunction and damages of Rs 2 crore from Mitra for his "defamatory, false, malicious and unsubstantiated allegations" published on X. Mitra had posted vulgar remarks from February to May this year, addressing the women journalists as "prostitutes" and ...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 >
Srinagar, June 7: Jammu and Kashmir Lieutenant Governor Manoj Sinha, on Saturday, congratulated the University of Kashmir for getting an A++ grade in the NAAC inspection. The Lt Governor extended his heartiest congratulations to the Vice Chancellor, faculty, staff, and students of the University of Kashmir for attaining the prestigious A++ Grade by the National Assessment and Accreditation Council (NAAC), and securing an outstanding Cumulative Grade Point Average (CGPA) of 3.68 on a seven-point scale. Calling it a proud moment for J&K UT, the Lt Governor said, "The A++ Grade places the Un ...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, June 7 (SocialNews.XYZ) Leader of Opposition (LoP) in the Lok Sabha, Rahul Gandhi, has received robust support from INDIA bloc allies following his explosive allegations of "match-fixing" in the 2024 Maharashtra Assembly elections. His opinion piece, published in a national daily, has stirred a political storm, with Opposition leaders asserting that the article lays bare the scale of electoral manipulation and the Election Commission's failure to respond to legitimate concerns. In his op-ed, Gandhi accused the BJP-led Mahayuti of engineering a large-scale rigging operation to win ...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 >
Bengaluru (Karnataka) [India], June 5 (ANI): The Karnataka High Court on Thursday issued a notice to the state government over the stampede incident near the Chinnaswamy Stadium that claimed the lives of 11 people and left several injured. The High Court took suo motu cognisance of the incident and asked for a further status report. 'News items have been published in various newspapers, narrating the tragedy that happened when 11 persons died and 75 were injured during the course of the victory celebration of RCB. This court is taking cognisance of the incident,' the High Court said. 'Senio ...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, June 6 (UNI) The Supreme Court on Friday declined to grant an urgent hearing to a petition challenging a Bombay High Court order that permitted animal sacrifice near a Dargah located within Vishalgad Fort in Maharashtra's Kolhapur district during the Bakr-Eid celebrations on June 7. The plea, mentioned before a vacation bench comprising justices Sanjay Karol and Satish Chandra Sharma, sought immediate intervention against the June 3 High Court order allowing the ritual sacrifice at the historically protected site. The petitioner's counsel argued that Vishalgad Fort is a notified p ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): Financial markets regulator SEBI has asked banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. The dues of Rs 2.1 crore include Rs 1.5 crore penalty, Rs 60 lakh as interest (February 2022 to May 2025 at 1 per cent per month) and Rs 1,000 as recovery cost. On May 15, 2025, SEBI sent Mehul Choksi a notice asking him to pay the dues in 15 days. Failure to do so may result in freezing his asse ...Read More >
Imphal, June 7 (UNI) Three militants were nabbed in separate incidents during the last 24 hours in Manipur, police said on Saturday. Manipur Police arrested a militant from Moidangpok Awang Leikai from Khumbong Bazar under Imphal West District, they said. Security forces arrested a militant from the Elangkhanpokpi Mayai Leikai area under Kakching district. Security forces apprehended a militant from Wangoo Samushang in Bishnupur district and elected members from Kumbi area. In an operation, one M16 rifle, one bolt-action rifle, three pull-mechanism rifles, three improvised mortars, and fiv ...Read More >