New India News

The Anti-Evasion Branch of the Central Goods & Services Tax (CGST), Delhi South Commissionerate, has arrested the proprietor of an iron and steel trading firm in a case involving alleged fraudulent availment, utilisation and passing on of inadmissible Input Tax Credit (ITC) amounting to over INR 25.22 crore through bogus invoices worth approximately INR 140.14…

On Wednesday, a public interest litigation has been filed before the Supreme Court challenging the Union government’s new Merchant Discount Rate (MDR) framework for Unified Payments Interface (UPI) transactions, questioning the constitutional validity of the amended Section 10A of the Payment and Settlement Systems Act, 2007, and the manner in which the new charges have…

Mumbai: Banks have sought regulatory clearance to close unsettled cross-border trades of clients which over the years have touched almost ₹1 lakh crore, with many unmatched entries pending for a decade. They want Reserve Bank of India‘s permission for using new regulations that would come into force from October 1, 2026, to close millions of…

Attorney General R. Venkataramani Law can no longer remain a “catching-up machine” responding to economic change after it occurs and must instead play a central role in shaping India’s future growth, Attorney General of India R. Venkataramani said at the ETLegalWorld Commercial Disputes Conclave 2026. Delivering the inaugural address on Commercial Dispute Resolution as a…

New Delhi: In a significant victory for Peerless General Finance and Investment Company Limited, the Supreme Court on Tuesday declined to interfere with the judgment of the National Company Law Appellate Tribunal (NCLAT) and dismissed the appeal filed by Bhagwati Developers Private Limited (BDPL) in a dispute over the transaction of shares. The dismissal of…

Mumbai, The Reserve Bank of India (RBI) has imposed a penalty of Rs 26.82 lakh on TransUnion CIBIL Limited for non-compliance with certain provisions of the directions issued by it on ‘Framework for compensation to customers for delayed updation and rectification of credit information‘, according to a central bank statement issued on Friday. The statutory…

The Securities and Exchange Board of India (SEBI) is set to review the methodology for determining settlement prices of derivative contracts on expiry, a month after rolling out the Closing Auction Session (CAS) in the cash market. In a press release issued on Thursday, SEBI said it may propose changes to the settlement price framework…

Cyril Amarchand Mangaldas has advised Piramal Finance on its qualified institutions placement of equity shares aggregating to INR 2,100 crore. Trilegal acted as legal advisor and Linklaters Singapore as international legal counsel on the issue. Piramal Finance allotted 99,62,606 equity shares at an issue price of INR 2,110 per share. The QIP opened on August…

Mumbai: Leading private lender HDFC Bank is mulling an appeal against the bankruptcy court NCLT’s order in the case involving Subhash Chandra, the bank said on Thursday. The bank said only 3.2 per cent of the total claim amount has been admitted under the National Company Law Tribunal (NCLT) order in the matter. HDFC Bank’s…

Mumbai: The Competition Commission of India (CCI) has sought additional information from the parties to the proposed $1.65-billion acquisition of Rajasthan Royals, saying the information submitted was incomplete, and has issued a Request for Information (RFI). The deal involves the acquisition of three cricket franchises-Rajasthan Royals in India, Paarl Royals in South Africa and Barbados…