ECONOMY & NATION


SN Thyagarajan (Bar  and   Bench) 26 February 2025
The National Company Law Tribunal (NCLT), New Delhi, on February 25, admitted Ansal Properties and Infrastructure Limited (APIL) to the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016, on a petition filed by IL&FS Financial Services Limited...

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Moneylife Digital Team 26 February 2025
Market regulator Securities and Exchange Board of India (SEBI) has approved a settlement of Rs92.21 lakh in a case involving NGL Fine-Chem Ltd (applicant 1) and three other related entities. The settlement resolves proceedings related to alleged violations of SEBI regulations concerning...

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Moneylife Digital Team 25 February 2025
In a significant ruling, Parrag Jaiin Nainutia, the adjudicating officer (AO) and principal secretary of Maharashtra's department of information technology has directed Yes Bank to reimburse Rs1.21 crore to Wardha Nagari Sahakari Adhikosh (Bank) Maryadit after a cyber fraud led to unauthorised...

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Moneylife Digital Team 25 February 2025
In a significant move towards justice for victims of the Agri Gold Ponzi scheme, the Hyderabad zonal office of the directorate of enforcement (ED) has successfully restituted attached properties worth around Rs3,339 crore to the victims. The present market value of these properties is estimated...

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Moneylife Digital Team 25 February 2025
In a significant move towards justice for victims of the Agri Gold Ponzi scheme, the Hyderabad zonal office of the directorate of enforcement (ED) has successfully restituted attached properties worth around Rs3,339 crore to the victims. The present market value of these properties is estimated...

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Moneylife Digital Team 25 February 2025
French engineering firm Systra, which has played a key role in designing and overseeing Mumbai's metro construction, has accused senior officials of the Mumbai Metropolitan Region Development Authority (MMRDA) of corruption. The company alleges that officials sought 'undue favours', delayed...

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Moneylife Digital Team 25 February 2025
French engineering firm Systra, which has played a key role in designing and overseeing Mumbai's metro construction, has accused senior officials of the Mumbai Metropolitan Region Development Authority (MMRDA) of corruption. The company alleges that officials sought 'undue favours', delayed...

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Moneylife Digital Team 25 February 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs1.25 lakh on three cooperative banks for non-compliance with the directions issued by the banking regulator.    Gulbarga and Yadgir District Cooperative Central (DCC) Bank Ltd from Karnataka and Guntur DCC Bank Ltd from Andhra Pradesh...

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Kumarsinh Dabhi (IndiaSpend) 25 February 2025
In 2022, as many as 239,188 cases out of 268,038 cases filed under the Protection of Children from Sexual Offences Act, 2012 (POCSO, 2012), were awaiting trial, a pendency rate of 89.2%, according to data from the National Crime Records Bureau (NCRB).   A lack of infrastructure and judges...

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Moneylife Digital Team 24 February 2025
The Indian government has taken decisive action against Aveo Pharmaceuticals Ltd (Aveo) after a BBC investigation alleged that the company was illegally exporting unapproved opioid combinations to West Africa. The exposé, which included a sting operation, revealed that Aveo was selling a...

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Moneylife Digital Team 24 February 2025
The Indian government has taken decisive action against Aveo Pharmaceuticals Ltd (Aveo) after a BBC investigation alleged that the company was illegally exporting unapproved opioid combinations to West Africa. The exposé, which included a sting operation, revealed that Aveo was selling a...

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Moneylife Digital Team 24 February 2025
The Mumbai zonal office of the enforcement directorate (ED) has provisionally attached assets worth Rs11.07 crore under the Prevention of Money Laundering Act (PMLA), 2002, in connection with the ongoing investigation into a US$125mn (million) fraud involving Geodesic Ltd.   The attached...

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Moneylife Digital Team 24 February 2025
Reserve Bank of India (RBI) 's former governor, Shaktikanta Das has been appointed as principal secretary-2 to prime minister Narendra Modi. On Saturday, his selection was approved by the Cabinet's appointments committee.    In a release, the committee says, "The appointments committee of the...

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Moneylife Digital Team 24 February 2025
Reserve Bank of India (RBI) has allowed depositors of New India Cooperative Bank Ltd to withdraw Rs25,000 per depositor from 27 February 2025. Earlier this month, RBI has imposed all inclusive directions on New India Cooperative Bank, and the Bank was directed not to allow withdrawal of any...

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Moneylife Digital Team 24 February 2025
Reserve Bank of India (RBI) has imposed penalties of Rs46.70 lakh on Citibank and two non-banking financial companies (NBFCs), Asirvad Micro Finance Ltd and JM Financial Home Loans Ltd for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs39 lakh has...

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Debayan Roy (Bar  and   Bench) 24 February 2025
The Supreme Court on Monday denied bail to a juvenile, observing that he was a repeat offender and cannot escape the clutches of law on the ground of his age.   The Bench of Justice JB Pardiwala and Justice R Mahadevan took note of the fact that the minor has four identical cases.    "He is...

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Moneylife Digital Team 21 February 2025
Updated at 8.17pm on 20 February 2025 to include statement issued by a legal team representing Ms Zinta... Updated at 5.25pm on 25 February 2025 to include a Web Archive link of the original article published by IndianCooperative.com   As early as in January 2020, ex-employees of New India...

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Moneylife Digital Team 21 February 2025
Pharmaceutical stocks faced significant turmoil last week, as the Nifty Pharma index dropped 2% following US President Donald Trump's announcement of potential tariffs up to 25% on drug imports. This decision raised alarms over the viability of Indian drug exports which constitute nearly 40% of...

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Moneylife Digital Team 21 February 2025
The Chennai zonal office of the Directorate of Enforcement (ED) has provisionally attached three immovable properties belonging to renowned filmmaker S Shankar. The assets, valued at Rs10.11 crore, were seized on 17 February 2025 under the provisions of the Prevention of Money Laundering Act...

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SN Thyagarajan (Bar  and   Bench) 21 February 2025
The National Company Law Tribunal (NCLT) Mumbai Bench on Tuesday approved the resolution plan for Anil Ambani-owned Reliance Big Private Limited submitted by ACME Cleantech Solutions Private Limited.   The plan outlines that financial creditors will receive a total of 3.5 crore against an...

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