ECONOMY & NATION


The Enforcement Directorate(ED) on Saturday attached assets worth Rs 57.45 crore in connection with a Prevention of Money Laundering probe pertaining to the bank fraud case of Rs 242 crore against Atlas Jewellery Private Limited and its directors M.M. Ramachandran, Indira Ramachandran and...

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The Election Commission (EC) told the Supreme Court that offering freebies either before or after elections is a policy decision of a political party, and it cannot regulate state policies and decisions taken by the parties.   In an affidavit, the EC said: "Offering/distribution of...

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Moneylife Digital Team 09 April 2022
The World Medical Association (WMA) has written a letter to Indian prime minister (PM) Narendra Modi on Dr Archana Sharma’s suicide and demanded a supportive legal environment for health professionals. The letter urges the PM to find a solution to the high number of attacks on physicians and...

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In a latest development in the National Stock Exchange (NSE) co-location (Colo) scam involving its former CEO (chief executive officer) Chitra Ramkrishna and others, the Enforcement Directorate (ED) on Friday conducted search operation at nine different locations in Haryana's...

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International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate, will invest $2 billion as primary capital in three Adani portfolio companies -- Adani Green Energy, Adani Transmission and Adani Enterprises.   IHC was founded in 1998, as part of an initiative to diversify...

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Edtech platform Unacademy, which laid off nearly 600 employees, contractual workers and educators - about 10 per cent of its 6,000-strong workforce across the group - said on Friday that it is focused on becoming profitable by the end of the fourth quarter (Q4) this year in its core business,...

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Moneylife Digital Team 08 April 2022
Expressing shock over the way the police arrested, stripped, and humiliated a local journalist and some members of the civil society at Sidhi in Madhya Pradesh (MP), as well as chained another journalist at Balasore in Odisha, the Editors Guild of India (EGI) has urged Union ministry of home...

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Unaccounted wealth, including property and jewellery worth Rs 100 crore, has been found at the residence of Surendra Singh Rathore, the Chief Executive Officer of Bio-fuel Authority (CEO), officials said here on Friday.   Rathore was arrested for taking a bribe of Rs 5 lakh on...

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Sidra Javed (The Leaflet) 08 April 2022
By allowing unregulated collection of biological samples or behavioural traits of individuals by executive agencies, the Bill violates the fundamental right to equality, the fundamental right against self-incrimination, and the fundamental right to privacy provided by the Constitution of...

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Moneylife Digital Team 07 April 2022
After showing substantial losses for two financial years, Mother Dairy Fruit and Vegetables Ltd (Mother Dairy or MDFVPL), a subsidiary of the National Dairy Development Board (NDDB), has suddenly reported a huge profit for FY20-21. Similarly, NDDB Dairy Services (NDS), another unit of NDDB,...

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The government on Thursday said that due to the reverse migration of labourers, including construction workers, to their native places during the pandemic and break in the supply chains of construction material, construction activities of real estate projects across the country were adversely...

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R Balakrishnan R Balakrishnan 07 April 2022
India’s finest professionally-run business entity is soon going to be history. Housing Development Finance Corporation Ltd (HDFC Ltd), created by Hashmukh T Parekh and nurtured by his nephew Deepak Parekh, will soon become a ‘part’ of the bank it created. Hasmukhbhai Deepakbhai Finance...

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The proceedings of the Lok Sabha were adjourned sine die on Thursday, one day ahead of its schedule.   As the Lower House met for the day, Speaker Om Birla made the valedictory reference, summing up the proceedings of the session. He later adjourned the House sine die.   The...

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Moneylife Digital Team 06 April 2022
The Central Bureau of Investigation (CBI) has registered a case against nine officials of the National Highways Authority of India (NHAI), including its general managers, project directors, managers and 13 others, in connection with a cheating and forgery case. The agency found cash, fixed...

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Moneylife Digital Team 06 April 2022
All scheduled commercial banks (SCB) operating in India have cumulatively written off loans of Rs2,02,781 crore in FY20-21. As expected, public sector banks (PSBs) lead the pack and have written off bad loans worth Rs1,31,894 during FY20-21, the Rajya Sabha was informed.    In a...

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Moneylife Digital Team 06 April 2022
Three funds managed by Invesco's developing markets investment team, including Invesco Developing Markets Fund, have decided to sell up to 7.8% of their stake in Zee Entertainment Enterprises Ltd (Zee). While reducing its stake to 11%, Invesco reaffirmed its support for the merger of Zee with...

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A bench headed by Chief Justice N.V. Ramana on Wednesday said it hopes it does not have to hear this case again, while noting that Amazon and Future Retail Limited (FRL) will move the arbitration tribunal to resume arbitration proceedings.   The top court added that the tribunal will...

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Hindustan Shipyard Ltd's "inefficient execution" of the contract for construction of five Inshore Patrol Vessels for the Indian Coast Guard led to a loss of Rs 200.43 crore, a Comptroller and Auditor General (CAG) report, tabled in the Parliament on Wednesday, said.   According to the...

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The Delhi High Court has quashed a Ministry of External Affairs order requiring judges of the Supreme Court and High Courts to obtain clearance for their private visits to foreign countries, holding that such a condition was uncalled for.   The order by a division bench of Justices...

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The Supreme Court on Wednesday said the Right to Education Act is a classic example where a right was created, but questioned where were the schools?   Against the backdrop of this Act, the top court observed that the government should always bear in mind the financial impact, before...

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