ECONOMY & NATION


Moneylife Digital Team 12 June 2025
In a devastating aviation tragedy, Air India flight AI-171, a Boeing 787 Dreamliner en route to London Gatwick, crashed into a residential neighbourhood in Meghani Nagar shortly after taking off from Ahmedabad at 1:38pm. The flight was carrying 242 individuals, including 230 adult passengers,...

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Moneylife Digital Team 12 June 2025
A tragic air disaster struck Ahmedabad on Thursday afternoon, with reports suggesting that Gujarat’s former chief minister (CM) Vijay Rupani and prominent industrialist Pramukh Nanda’s family may have been aboard the ill-fated Air India flight AI171. The aircraft, a Boeing 787 Dreamliner,...

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Moneylife Digital Team 12 June 2025
The Mumbai zonal office of the directorate of enforcement (ED) has provisionally attached assets worth Rs33.89 crore belonging to Sai group promoter Jayesh Vinodkumar Tanna, his family members, and associated entities, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002....

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Moneylife Digital Team 11 June 2025
Union finance minister (FM) Nirmala Sitharaman, while chairing the 29th Financial Stability and Development Council (FSDC) meeting in Mumbai on 10 June 2025, urged regulators and departments to accelerate the process of returning unclaimed financial assets to their rightful owners through...

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Sahyaja MS (Bar  and   Bench) 11 June 2025
The Bombay High Court has ordered the Brihanmumbai Municipal Corporation (BMC) to pay 50 lakhs as compensation each to the families of eight young adults who were killed in a fire that broke out at a Mumbai eatery in 2015. The Court has held that the civic body’s gross negligence was the...

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G Janardhana Reddy  and   Telangana HC (Bar  and   Bench) 11 June 2025
The Telangana High Court on Wednesday suspended the sentence and conviction of former Karnataka minister Gali Janardhana Reddy in the Obulapuram illegal mining case.   A trial court on May 6 had awarded a sentence of seven years to Reddy, who is a Member of Legislative Assembly (MLA) from the...

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Moneylife Digital Team 10 June 2025
The Bombay High Court (HC) on Tuesday directed the Mumbai Metropolitan Region Development Authority (MMRDA) to pay Rs1,169 crore to Mumbai Metro One Pvt Ltd (MMOPL), a subsidiary of Reliance Infrastructure Ltd, as part of an arbitration award. The Court instructed MMRDA to deposit the full...

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Moneylife Digital Team 10 June 2025
The Mumbai bench of the national company law tribunal (NCLT) has granted a 90-day extension in the ongoing consolidated corporate insolvency resolution process (CIRP) of Lavasa Corporation Ltd, a planned hill city project in Maharashtra, beginning from 29 May 2025.   In its order dated 2 June...

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Moneylife Digital Team 10 June 2025
In a significant step towards judicial transparency and accessibility, Bombay High Court (HC) chief justice Alok Aradhe announced on Tuesday that live-streaming of court proceedings will soon commence from five designated benches. The decision follows a resolution passed by the full court, and...

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Moneylife Digital Team 10 June 2025
India’s automotive sector could be headed for a bumpy ride, with CRISIL Ratings warning that a shortage of rare earth magnets, crucial components for electric vehicles (EVs) and hybrids, may disrupt production and dent growth. The shortage stems from China’s recent export restrictions and...

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Giti Pratap (Bar  and   Bench) 10 June 2025
A consumer court in Mumbai recently remarked that if non-vegetarian food hurts one's religious sentiments, one always has the option to order food from restaurants that serve exclusively vegetarian food. (Gargi Prakash Joshi & Anr. v. Wow Momos Foods Private Limited)   A Bench of the Mumbai...

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Moneylife Digital Team 09 June 2025
In a strong critique of persistent problems in India’s microfinance sector, M Rajeshwar Rao, deputy governor of Reserve Bank of India (RBI), says the industry remains trapped in a vicious cycle of over-indebtedness, exorbitant interest rates and coercive recovery practices. Speaking at HSBC’s...

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Moneylife Digital Team 09 June 2025
In a tragic reminder of the daily dangers faced by Mumbai’s suburban rail commuters, five people were killed and eight others injured after falling off two overcrowded local trains during the morning rush hour between Diva and Kopar railway stations in Thane district on Monday.   The incident...

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Shreehari Paliath (IndiaSpend) 09 June 2025
Manoj Kumar Anant and his wife Shakuntala Bai were rescued from bonded labour at a brick kiln in Uttar Pradesh’s Kushinagar in 2022. He had told IndiaSpend in September 2023 that he was waiting for rehabilitation assistance under the Union government’s Central Sector Scheme for Rehabilitation...

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Sahyaja MS (Bar  and   Bench) 09 June 2025
The Bombay High Court recently observed that mobile phones are no longer a luxury but an inevitable necessity, while setting aside a gram panchayat's decision to revoke permission for installation of a telecom tower (Indus Tower Limited and anr v. Gram Panchayat, Tanang and Ors).   The...

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Moneylife Digital Team 09 June 2025
Goa health minister Vishwajit Rane issued a public apology on Monday following intense backlash from the medical community and political opposition over his decision to publicly berate and suspend a senior doctor at Goa Medical College and Hospital (GMCH) during a surprise visit.   The...

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Moneylife Digital Team 09 June 2025
In a heartfelt return to his alma mater, Mukesh Ambani, chairman and managing director (CMD) of Reliance Industries Ltd (RIL), announced an unconditional donation of Rs151 crore to his alma mater, Mumbai-based Institute of Chemical Technology (ICT). The gesture, made during the launch of a...

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Rajiv Bajaj, chairman of Bajaj Auto, sounded the alarm last week: if China were to restrict exports of rare earths—crucial for the magnets in electric vehicles (EVs)—India’s nascent EV industry could grind to a halt. His anxiety is not unwarranted. As geopolitical tensions rise and trade wars...

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Rajiv Bajaj, chairman of Bajaj Auto, sounded the alarm last week: if China were to restrict exports of rare earths—crucial for the magnets in electric vehicles (EVs)—India’s nascent EV industry could grind to a halt. His anxiety is not unwarranted. As geopolitical tensions rise and trade wars...

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Moneylife Digital Team 06 June 2025
India’s top-15 banks earned a staggering Rs21,773 crore in commissions from selling life insurance, mutual funds and other financial products in FY23–24 — much of it by promoting schemes from their own group companies. In the case of Kotak Mahindra Bank, 100% of the life insurance commissions...

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