ECONOMY & NATION


SN Thyagarajan (Bar  and   Bench) 11 March 2025
The Bombay High Court recently ruled that a Limited Liability Partnership (LLP) can be bound by an arbitration clause in its partnership agreement, even if the LLP itself is not a signatory to the agreement.    The Court held that an LLP, as the central entity governed by the partnership...

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Moneylife Digital Team 10 March 2025
Tax professionals have voiced growing concerns over the massive backlog of 549,042 income-tax (I-T) appeals that remain pending before the commissioner of income-tax (appeals) (CIT-A) and the national faceless appeal centre (NFAC), with some of these appeals languishing for over five years....

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Tanvi Deshpande (IndiaSpend) 10 March 2025
When great trees fall, rocks on distant hills shudder, lions hunker down in tall grasses, and even elephants lumber after safety.   - Maya Angelou   When you think of a state in Northeast India, does an image of a dense forest come to mind? The states of this pristine region have more...

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Moneylife Digital Team 10 March 2025
The Mumbai Press Club has strongly criticised the Maharashtra government’s decision to establish a media monitoring centre, calling it an act of surveillance disguised as an effort to curb misinformation. The move, which aims to track news coverage across print, television, digital and social...

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Moneylife Digital Team 10 March 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs76.60 lakh on four non-banking financial companies (NBFCs) for non-compliance with provisions of the NBFC Peer-to-peer (P2P) Lending Platform Directions, 2017. The highest penalty of Rs40 lakh was imposed on Fairassets Technologies India...

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Moneylife Digital Team 07 March 2025
Cals Refineries Ltd, a penny stock, is again in the limelight with a special court under the Prevention of Money Laundering Act (PMLA) directing the Mumbai anti-corruption bureau (ACB) to register a first information report (FIR) against top officials of the Securities and Exchange Board of...

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The corporate boards in the recent weeks are feeling nervous where no goods and services tax (GST) demand of any substantial sum has been received by the company!    GST demand is an affirmation that an entity is carrying on a bona fide business, that it is not a zombie or a fake, like,...

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The corporate boards in the recent weeks are feeling nervous where no goods and services tax (GST) demand of any substantial sum has been received by the company!    GST demand is an affirmation that an entity is carrying on a bona fide business, that it is not a zombie or a fake, like,...

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KBS Sidhu 07 March 2025
Amitabh Kant, former chief executive officer (CEO) of NITI Aayog and India’s G20 Sherpa, recently suggested that Indians should work 80-90 hours a week to propel the country toward a US$30 trillion economy. This remark follows closely on the heels of Infosys founder Narayana Murthy’s call for a...

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Bar  and   Bench 07 March 2025
The National Company Law Tribunal (NCLT) on Tuesday rejected the scheme of arrangement presented by Talwandi Sabo Power Limited (TSPL) in relation to the demerger of Vedanta.   A Bench of NCLT comprising  Judicial Member Reeta Kohli and Technical Member Madhu Sinha said, “It is made clear...

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The Gurugram zonal office of the directorate of enforcement (ED) conducted search operations last week at 12 locations in Delhi, Faridabad and the National Capital Region (NCR) region. The searches targeted the WTC group, its promoter Ashish Bhalla, as well as Bhutani group and its promoter...

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Moneylife Digital Team 07 March 2025
The Gurugram zonal office of the directorate of enforcement (ED) arrested WTC group promoter Ashish Bhalla, under the Prevention of Money Laundering Act (PMLA), 2002, in a real estate fraud and cheating 100s of home-buyers and investors involving WTC Faridabad Infrastructure Pvt Ltd and others...

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Moneylife Digital Team 07 March 2025
The Gangtok sub-zonal office of the directorate of enforcement (ED) has provisionally attached properties worth Rs65.46 crore and frozen bank balances totalling Rs53.41 crore belonging to Dorjee Tshering Lepcha, former general manager (GM) for operations of the State Bank of Sikkim (SBS). The...

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Moneylife Digital Team 07 March 2025
India’s manufacturing sector slowed in February, with the HSBC India manufacturing purchasing managers' index (PMI) declining to 56.3 from 57.7 in January, marking a 14-month low. The decline was driven by softer new orders and production growth, although the index remained in expansionary...

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SN Thyagarajan (Bar  and   Bench) 07 March 2025
The Supreme Court on Friday stayed a recent order of the Bombay High Court restraining a Pune-based restaurant from using the name 'Burger King'. (Anahita Irani v. Burger King.)   The stay means that the Pune eatery can continue to operate under the name until the matter is decided by the...

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Nearly 25 years ago, I was complaining to the late FC Kohli, a pioneer who put India on the software map of the world; and was vice-chairman of Tata Consultancy Services (TCS), about the lack of social skills among many of our people in India. There is spitting on roads, on the pavement, at...

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Moneylife Digital Team 07 March 2025
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs5 lakh on Emami Realty Ltd for violations related to the issuance of zero coupon unsecured optionally convertible debentures (OCDs) to its promoter group companies.   In early 2023, Emami Realty issued...

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Moneylife Digital Team 07 March 2025
BCL Industries Ltd and its promoter and managing director (MD), Rajinder Mittal, have agreed to pay Rs42.90 lakh to settle adjudication proceedings initiated by the Securities and Exchange Board of India (SEBI) for alleged violations of various regulations under the SEBI Act, 1992. The...

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Moneylife Digital Team 07 March 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs3.50 lakh on two cooperative banks and a non-banking financial company (NBFC) for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Karnataka-based Sri Basaveshwar...

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Sahyaja MS (Bar  and   Bench) 07 March 2025
The Bombay High Court on Wednesday granted Adani Cementation Limited permission to cut 158 mangrove trees for its jetty project along the Amba River in Raigad district (Adani Cementation v. Union of India).   A bench of Chief Justice Alok Aradhe and Justice Bharati Dangre added that while the...

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