August 13, 2025
Former Athlete Questioned Under PMLA for Links to Illegal Online Betting Apps and Money Laundering
The Enforcement Directorate questioned a former sports professional for over eight hours in connection with an alleged money laundering case involving an illegal online betting application. The investigation, conducted under the Prevention of Money Laundering Act, seeks to determine the individual's links to the app, endorsement fees received, and communication methods. The agency is probing multiple illegal betting apps suspected of defrauding investors and evading taxes. Authorities have also questioned representatives of major tech companies and conducted searches related to similar cases. The online betting market in India is substantial and rapidly growing, prompting government actions including blocking unregistered platforms under the Information Technology Act and the IGST Act. While betting and gambling fall under state jurisdiction, the central government supports state efforts through advisories and financial assistance for law enforcement capacity building.
August 13, 2025
Anticipatory Bail Granted to Film Producer in Rs 4.3 Crore Cheating Case Under Section 406
A Delhi court granted anticipatory bail to a film producer in a cheating case involving alleged misappropriation of funds related to the Chinese dubbing and release rights of a movie. The complainant claimed to have invested Rs 4.3 crore in a co-investment agreement, with part of the funds transferred to a company where the producer was a director. The producer argued the funds were for a different film project. The court noted the absence of evidence for custodial interrogation and no indication of attempts to abscond or tamper with evidence. Bail was granted on furnishing a personal bond and surety, with conditions to cooperate with the investigation, appear in court as required, and refrain from threatening witnesses. The Economic Offences Wing had registered an FIR against the producer and others for criminal breach of trust, cheating, and criminal conspiracy.
August 13, 2025
Central Govt Cuts Fertilizer Supplies by 275,000 Tonnes, Sparking Shortages and Political Dispute
A state agriculture minister accused the central government of reducing fertilizer supplies by 275,000 metric tonnes between April and August, causing shortages for farmers. The minister detailed that the state's annual allocation was over 1.1 million metric tonnes, with initial supplies meeting expectations but subsequent monthly reductions. The central government reportedly advised states to limit use of certain fertilizers due to decreased imports and production issues linked to international conflicts. The state government claimed to manage distribution carefully. The opposition party contested the state's handling of the shortage, leading to heated legislative debate and a walkout.
August 13, 2025
Government directs energy department to boost power generation and improve supply, transmission, and renewable projects by 2027
The state government directed the energy department to increase electricity generation to meet future demand and ensure uninterrupted supply to domestic, agricultural, and industrial users. Officials were instructed to maintain smooth power delivery during peak demand periods and strengthen the transmission network. Progress on renewable energy projects and schemes was reviewed, with emphasis on increasing revenue, reducing transmission and distribution losses, and preventing power theft. The directives aim to support rapid development in the power sector and provide daytime electricity to farmers by 2027.
August 13, 2025
Woman Arrested Under PMLA for Fraudulent Skincare Website and Rs 18 Crore Loan Irregularities
A woman claiming to be an actor and cosmetologist was arrested under the Prevention of Money Laundering Act in connection with a fraud and money laundering case involving a skincare product website alleged to be a front for illicit activities. Investigations revealed that public funds amounting to approximately Rs 18 crore were disbursed irregularly by a financial institution to a former director, with loans granted in violation of lending norms and subsequently siphoned off. The website purportedly selling FDA-approved products was found to be non-genuine, with technical inconsistencies and false claims. Searches uncovered incriminating documents and statements from associates. The case originated from a police FIR, while the former director denied any wrongdoing or links to the accused, asserting that all loans were properly secured and processed.
August 13, 2025
Ex-Commissioner and Builders Arrested for Money Laundering in Illegal Construction Case Involving 41 Unauthorized Buildings
The Enforcement Directorate arrested a former municipal commissioner and three others, including two builders and a town planner, in connection with a money laundering investigation involving illegal construction. The case concerns 41 unauthorized buildings erected on land designated for a dumping ground and sewage treatment in a Mumbai suburb, which were later demolished by municipal authorities. Raids were conducted at multiple properties linked to the accused, including residences in various cities. Following their arrest, the individuals underwent medical examinations and are scheduled for a court appearance. The investigation highlights alleged financial crimes tied to illegal real estate development and municipal corruption.
August 13, 2025
Notice issued for misbranding carpets as authentic Kashmiri silk under consumer protection rules, demanding removal and compliance
Authorities issued a notice to an online retail platform and a Bengal-based company for allegedly misbranding carpets as "authentic Kashmiri handmade silk carpets" when they were counterfeit. The notice demands removal of misleading advertisements, an apology, disclosure of all sales related to the misbranded products, and submission of a compliance report within three days. The authorities emphasized that the falsely advertised carpets, sold at significantly lower prices than genuine products, damage the reputation of local artisans and the value of authentic handicrafts.
August 13, 2025
Manufacturing Firm Reports 50.5% Profit Drop Due to Railway Wheelset Shortage and Inspection Suspension
A manufacturing company reported a 50.5% year-on-year decline in consolidated net profit to Rs 29 crore for the June quarter, attributed to a shortage of wagon wheelsets supplied by a government railway entity. Revenue from operations decreased by 16.3% to Rs 911 crore, resulting in pressure on profit margins. Earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 36% to Rs 79 crore, with the EBITDA margin contracting by 267 basis points to 8.7%. Earnings per share fell from Rs 1.50 to Rs 0.75, and the profit after tax margin declined from 5.4% to 3.2%. The company noted that the supply issue was industry-wide and has since improved, normalizing revenues. Additionally, a temporary revenue reduction occurred due to a suspension of inspections by a railway standards organization.
August 13, 2025
India boosts diplomacy with China and Russia amid US tensions over Russian oil imports and tariffs
India is set for significant diplomatic engagements with China and Russia amid strained relations with the United States over its continued purchase of Russian crude oil. The Chinese Foreign Minister will visit India to conduct Special Representatives talks on the boundary dispute, while India's External Affairs Minister will travel to Russia for discussions likely focused on preparing for the Russian President's upcoming visit to India and addressing oil procurement issues. These developments follow recent disengagement agreements between India and China to ease tensions after the 2020 border clashes. The Indian Prime Minister plans to attend the Shanghai Cooperation Organisation summit in China later in August, signaling efforts to restore bilateral ties. The US has imposed additional tariffs on Indian goods as a penalty for its Russian oil imports, intensifying diplomatic challenges for India.
August 13, 2025
South Africa rejects US human rights report, defends Land Expropriation Act, and disputes discrimination claims
The South African government rejected a recent US State Department human rights report, calling it inaccurate and deeply flawed, particularly disputing claims of worsening conditions and discriminatory land reforms against a racial minority. South Africa emphasized the legitimacy of its Land Expropriation Act, supported by the United Nations, and criticized the US for relying on out-of-context and discredited information. The government also denied allegations of failing to investigate or prosecute human rights abuses and inflammatory rhetoric. This dispute reflects ongoing diplomatic tensions, including US-imposed tariffs, aid suspensions, and visa facilitation for minority farmers relocating to the US. The US previously expelled South Africa's ambassador over criticism, and a South African trade union plans to engage with US officials to discuss racial-redress laws, diplomatic relations, and trade agreements.
August 13, 2025
Airline CEO Warned for Failing to Address Crew Duty Time Violations Exceeding 10-Hour Limit
The civil aviation regulator issued a warning to the accountable manager and CEO of a major airline after finding the airline's response to a show cause notice regarding crew duty time violations unsatisfactory. The violations involved exceeding the prescribed 10-hour flight duty limit on two long-haul flights in May. The regulator emphasized the need for strict compliance with civil aviation requirements and criticized the airline for inadequate adherence to duty time limitations. The airline attributed the issue to a misinterpretation of permissions related to airspace closures, which was promptly corrected. The regulator's findings form part of broader safety concerns, with numerous audit violations identified across the airline group and other carriers, including critical safety breaches requiring immediate corrective action.
August 13, 2025
Supreme Court Orders SIT Probe into Inflated Land Compensation and Corruption Under Prevention of Corruption Act
The Supreme Court ordered a Special Investigation Team (SIT) probe into allegations that officials of a development authority colluded with builders to pay landowners compensation exceeding legal entitlements. The court accepted preliminary findings indicating possible misconduct and directed the formation of a new SIT comprising senior police officers to investigate asset trails and bank accounts with forensic experts. The investigation focuses on whether compensation payments were inflated, identifying responsible officials, examining collusion, and assessing transparency in the authority's functioning. The court mandated timely registration of cases if prima facie offenses are found, appointment of a chief vigilance officer, and establishment of a citizen advisory board to enhance oversight. It also required environmental impact assessments for projects and expedited sanction for prosecution under the Prevention of Corruption Act. The SIT's progress must be reported to the court, which retains custody of the investigation records.
August 13, 2025
Foreign Leader to Speak at UN; US-Pakistan Boost Security Cooperation; Nepal to Expand Electricity Exports
A foreign leader is expected to address the United Nations General Assembly next month. The United States has stated that its relationships with two South Asian countries remain positive, despite one being described as somewhat uncooperative in trade negotiations. Nepal plans to increase electricity exports to a neighboring country, generating significant revenue. A UN human rights body has urged a South Asian government to implement reforms and ensure justice for past abuses. In the US, a Hindu temple was vandalized and an elderly Sikh man was assaulted, with a suspect apprehended. The US and Pakistan have agreed to enhance cooperation against militant groups. In Bangladesh, a corruption trial has commenced against a former prime minister and others, including a British MP, who has dismissed the trial as politically motivated. UK police will now disclose suspects' ethnicity and nationality to combat online misinformation.
August 13, 2025
Supreme Court affirms Election Commission's authority for Special Intensive Revision under Section 21(3) of Representation of Peoples Act
The Supreme Court upheld the Election Commission's authority to conduct a Special Intensive Revision (SIR) of electoral rolls in Bihar, rejecting petitions challenging its legal basis. The Court emphasized that electoral rolls must be dynamic to remove names of deceased or migrated voters and found the expansion of acceptable identity documents from seven to eleven as inclusive rather than exclusionary. The Court referenced Section 21(3) of the Representation of the Peoples Act and Article 324 of the Constitution, affirming the EC's residual power to revise rolls "in such manner as it may think fit." Challenges by opposition parties and an NGO alleging lack of legal basis and procedural issues, including removal of search features from draft rolls, were dismissed. The Court recognized the EC's discretion in balancing constitutional rights and powers in managing electoral roll revisions.
August 13, 2025
Nepal to Boost Electricity Exports to India by 200 MW, Total Capacity Hits 1,140 MW Under Long-Term Deal
Nepal will increase its electricity exports to India by nearly 200 MW, raising the total export capacity to approximately 1,140 MW under a long-term agreement to supply 10,000 MW over the next decade. The Central Electricity Authority of India approved the additional import of 199.70 MW to the state of Haryana, increasing its imports from Nepal from 235.5 MW to 435.5 MW. This expansion is expected to generate over NRs 80 billion in revenue for Nepal. The exports primarily occur during the rainy season when Nepal has surplus hydroelectric power. This development follows a 2024 agreement between the two countries to enhance power trade, aiming to increase Nepal's electricity exports from 450 MW in 2023 to 10,000 MW over ten years. The increased supply will commence when surplus power is available.
August 13, 2025
Two-Day National Conclave to Boost Inclusive Entrepreneurship and Innovation for Economic Growth by 2047
An educational institution is organizing a two-day national conclave focused on entrepreneurship, aiming to foster innovation, inclusivity, and economic growth in India by 2047. The event will gather entrepreneurs, policymakers, investors, industry experts, and academics to discuss strategies for building a socially responsive and globally competitive entrepreneurial ecosystem. The conclave serves as a platform to connect alumni with the broader entrepreneurial community, encouraging collaboration, mentorship, and investment. It highlights the institution's commitment to nurturing ventures that address national challenges while creating economic value, promoting an inclusive innovation economy. The initiative is supported by an innovation park affiliated with the institution, dedicated to advancing entrepreneurship and innovation.
August 13, 2025
Singapore Investment Firm to Invest Rs 19,200 Crore in Data Centres, Logistics, and Industrial Parks by 2030
A Singapore-based investment firm has entered into an agreement with the Maharashtra government to invest over Rs 19,200 crore by 2030 in sectors including data centres, logistics, and industrial parks in Mumbai and Pune. This investment forms part of the firm's broader strategy to expand its Indian portfolio and increase its funds under management significantly by 2028. The company has operated in Maharashtra since 2013 and has previously invested over Rs 6,800 crore across multiple assets in the region. The agreement was announced during the inauguration of the firm's first data centre in Navi Mumbai and reflects ongoing collaboration with state authorities to support the firm's growth plans.
TaxTMI 
https://www.taxtmi.com/ne...
TaxTMI 
