July 25, 2025
Educational Consultancy Achieves 100% Visa Approval for 60 Students in 2024-25 Admission Season
An educational consultancy based in Ahmedabad achieved a 100% visa approval rate for all 60 students it assisted during the 2024-25 admission season, despite increased visa rejection rates globally. The consultancy exclusively partners with top 100 universities worldwide and operates on a student-first model, refusing commissions from universities to avoid conflicts of interest. By limiting its client base, it provides personalized guidance, ensuring each student's application and documentation meet high standards. This approach has garnered industry recognition for prioritizing quality over quantity, resulting in successful placements across multiple countries. The consultancy plans to expand while maintaining its personalized service model.
July 25, 2025
Neighboring Leader Visits Maldives for 60th Independence Day, Boosts Economic and Security Ties
A head of government from a neighboring country visited the Maldives for two days to attend the nation's 60th Independence Day celebrations as the chief guest. The visit marked the first state visit hosted by the current Maldivian president since taking office. The visiting leader and the Maldivian president held extensive talks aimed at strengthening bilateral relations, including advancing a Comprehensive Economic and Maritime Security Partnership. The visitor also inaugurated several development projects supported by their country. The visit followed a recent trade agreement signed with another nation to enhance bilateral trade by removing tariffs on various goods. This diplomatic engagement signifies a positive shift in relations between the Maldives and the visiting country after a period of strained ties.
July 25, 2025
Beverage Company Expands Nationwide with Ethnic Flavors, Boosts Sales Force and Distribution Networks
A beverage company under a corporate group plans a nationwide expansion of its ethnic-flavored carbonated drinks and juices, targeting key Indian states and aiming for significant revenue growth within three years. The company has mobilized a large sales force and partnered with manufacturing units across multiple regions to enhance distribution and supply chain efficiency. The expansion includes increasing retail presence in both general and modern trade channels, leveraging a diverse product portfolio beyond its flagship beverage. The company's strategy focuses on capitalizing on regional flavors and consumer nostalgia to capture market share in the ethnic beverage sector. The corporate group has established extensive distribution networks and warehouses to support this growth, aiming to become a leading homegrown beverage brand across India.
July 25, 2025
Art Exhibition Raises Funds for Social Causes Supporting Children, Women Entrepreneurs, and Rural Education
An art exhibition organized by a company and a philanthropist trustee aims to raise funds for multiple social causes, including the restoration of a legacy institution serving underprivileged children, mentoring rural women entrepreneurs, and constructing a senior school in a village. The event features curated Indian artworks, with proceeds supporting these charitable projects. The organizer has received recognition for championing socio-economic change and plans to expand the initiative internationally. The exhibition invites art patrons to contribute to sustainable community development through their participation and purchases.
July 25, 2025
Court weighs lifting immunity of ex-Syrian leader for alleged chemical attacks and war crimes under international law
France's highest court is deciding whether to lift the head of state immunity of a former Syrian leader now in exile, enabling prosecution for alleged chemical attacks in 2013 and 2018. If immunity is removed, it could allow trial in absentia and set a precedent for prosecuting current and former government officials accused of atrocities. Evidence collected by activists and prosecutors links the former leader directly to war crimes, including chemical weapons use, torture, and massacres during Syria's civil war. The ruling could empower other national jurisdictions to override immunity protections traditionally granted to sitting heads of state. While extradition is unlikely, an arrest warrant could facilitate prosecution if the former leader travels abroad. The case reflects evolving international legal standards aimed at ending impunity for serious human rights violations and war crimes, with ongoing efforts to hold regime members accountable both domestically and internationally.
July 25, 2025
Equity Markets Fall Amid Major Sell-Offs While India-UK Free Trade Deal Opens New Export Opportunities
Equity markets experienced significant declines driven by a major financial services company's poor quarterly earnings and ongoing foreign institutional investor sell-offs totaling over Rs 11,500 crore in four trading days. Despite domestic institutional investors purchasing stocks worth over Rs 2,600 crore, key indices fell sharply. Concurrently, India and the UK entered a comprehensive free trade agreement eliminating tariffs on 99% of Indian exports to the UK and reducing tariffs on British goods, aiming to double bilateral trade by 2030. This agreement, India's first with a major developed nation, is expected to positively impact sectors like textiles, leather, food processing, automobiles, pharmaceuticals, and gems and jewelry, and signals India's commitment to free trade amid global tariff tensions.
July 25, 2025
Domestic currency falls as dollar strengthens amid trade deal uncertainty and foreign fund outflows
The domestic currency depreciated against the US dollar due to negative equity trends and foreign fund outflows, opening at a lower rate amid global trade uncertainties. The dollar index strengthened following positive labor market data, while oil prices rose on developing trade agreements. Market analysts noted ongoing demand for the dollar and the central bank's efforts to manage volatility. Uncertainty surrounding a bilateral trade deal has contributed to market caution, with potential impacts on exporters if talks fail or are delayed. Domestic equity markets declined, and foreign institutional investors sold equities significantly, reflecting cautious investor sentiment amid external pressures and trade-related uncertainties.
July 25, 2025
State Government Fails to Submit Rs 70,877 Crore Utilisation Certificates, Breaching Financial Rules and Raising Misuse Concerns
The state government failed to submit utilisation certificates for projects totaling approximately Rs 70,877 crore, with 49,649 certificates outstanding as of March 31, 2024, according to the Comptroller and Auditor General. This non-compliance raises concerns about potential misuse or diversion of funds, especially as Rs 14,452 crore relates to projects before 2017. Key defaulting departments include Panchayati Raj, Education, Urban Development, Rural Development, and Agriculture. Additionally, detailed contingent bills amounting to Rs 9,205 crore remain unsubmitted against advance withdrawals, breaching financial discipline and increasing risks of misappropriation. The state's budget for 2023-24 was Rs 3.26 lakh crore, with actual expenditure at 79.92%. Despite significant savings, only a fraction was surrendered. The state's liabilities rose by 12.34%, driven primarily by internal debt, which increased by 13.51%, highlighting growing fiscal pressures.
July 25, 2025
Auction ordered for sports academy and land to repay Rs 512 crore cooperative bank fraud under MPID Act Section 2
A special anti-money laundering court ordered the auction of a sports academy and land parcel linked to a former legislator to repay creditors of a cooperative bank involved in a Rs 512 crore fraud. The properties, attached under the Maharashtra Protection of Interest of Depositors Act by the Economic Offences Wing, are part of 87 assets seized in the investigation. The Enforcement Directorate, probing related money laundering charges, holds dual attachment on some properties. The court approved the bank liquidator's plea to release these assets for auction, with all parties, including the accused, consenting. The auction aims to discharge the bank's liabilities to depositors. The underlying case stems from an FIR filed in 2020 alleging financial irregularities at the cooperative bank headquartered in Panvel, Maharashtra.
July 25, 2025
Countries Sign Landmark Free Trade Agreement to Boost Economic Growth and Strengthen Strategic Partnership
Two countries concluded a two-day diplomatic visit resulting in the signing of a landmark free trade agreement aimed at promoting mutual economic growth. Discussions included strengthening a comprehensive strategic partnership covering trade, defense, security, technology, and education. The leaders expressed condolences regarding a recent aviation disaster and affirmed ongoing support for affected families. An invitation for a reciprocal official visit was extended and accepted, with arrangements forthcoming. The visit also featured a symbolic environmental gesture involving the planting of a tree at a royal estate.
July 25, 2025
Historic Free Trade Agreement Signed to Boost Trade, Security, and Strategic Partnership Between Two Nations
Two countries concluded a two-day official visit resulting in the signing of a historic bilateral Free Trade Agreement aimed at enhancing trade and economic growth. The leaders held extensive discussions on regional and global issues, strengthening their Comprehensive Strategic Partnership encompassing trade, defense, security, technology, and education. The visit included expressions of condolences regarding a recent aviation disaster, with commitments to ongoing support for affected families. An invitation for a reciprocal visit was extended and accepted, with arrangements forthcoming. The agreement and discussions signify a commitment to deepening cooperation and mutual prosperity.
July 24, 2025
India-US negotiate Bilateral Trade Agreement focusing on tariff cuts, market access, and supply chain integration
India and the US are actively negotiating a Bilateral Trade Agreement aimed at enhancing trade relations through improved market access, tariff reductions, and supply chain integration. The negotiations seek to conclude a mutually beneficial, multi-sector agreement. The US had announced additional tariffs on imports from multiple countries, including India, initially imposing a 10% tariff from April 5, 2025, with plans to adjust to country-specific rates. India's tariff was set at 26%, but a temporary reduction to 10% was granted, with the implementation date extended to August 1, 2025. Both governments emphasize maintaining positive momentum toward finalizing the agreement to address trade barriers and strengthen economic ties.
July 24, 2025
Indian PM gifts Davidia involucrata tree sapling to British monarch, symbolizing environmental initiative and ties
The Prime Minister of India presented a tree sapling from his environmental initiative to the British monarch during a royal audience at the monarch's estate. The tree, a Davidia involucrata 'Sonoma', will be planted in autumn as a symbol of the initiative encouraging tree planting in tribute to mothers. The meeting followed bilateral talks between the Indian Prime Minister and the British Prime Minister, culminating in the signing of a historic free trade agreement to enhance economic ties. The Indian Prime Minister also engaged with local business leaders and participated in cultural exchanges highlighting shared interests such as cricket and football. The visit concluded with plans for the Indian Prime Minister to attend Independence Day celebrations in a neighboring island nation.
July 24, 2025
Three promoters arrested under money laundering charges involving over Rs 1,000 crore in real estate fraud case
Three promoters and former directors of a real estate company were arrested by the Enforcement Directorate in connection with a money laundering case involving over Rs 1,000 crore. The accused had evaded court summons for more than seven years and were declared proclaimed offenders in multiple predicate offences. The company, engaged in residential and commercial property development, was under Corporate Insolvency Resolution Process since 2018. The case involves fraudulent fund mobilization from homebuyers through false assurances of project completion and promised returns, as well as defrauding financial institutions via fake agreements. The accused raised funds over 12 years through multiple projects but used only a portion for construction. They face charges including criminal misappropriation, cheating, forgery, and embezzlement for personal gain. The investigation follows over 30 FIRs registered across Delhi-NCR under various IPC sections. The accused are currently in custody and under interrogation.
July 24, 2025
Former President Supports EV Maker Amid Stock Drop and Loss of Government Subsidies
A former president publicly expressed support for a major electric vehicle manufacturer despite previous conflicts, emphasizing that the company's success benefits the national economy. This statement came amid the manufacturer's significant stock decline following disappointing quarterly financial results and warnings of challenging upcoming quarters. The company faces the loss of substantial government subsidies due to recent budget legislation, as well as increased costs from tariffs imposed on key trading partners. The CEO criticized the budget bill and threatened political action in response. The manufacturer is transitioning its business model toward autonomous ride services and robotics, though these ventures are not yet profitable. Regulatory approvals remain a key factor for the planned expansion of its robotaxi service. The CEO anticipates economic improvements once autonomous technology scales, despite near-term financial difficulties linked to reduced incentives and increased operational costs.
July 24, 2025
India-UK Free Trade Agreement signed to boost trade, remove duties on key exports, and support farmers and MSMEs
The India-UK Free Trade Agreement (FTA) has been signed, marking a significant development in trade, investment, and services between the two countries. The agreement aims to double bilateral trade to USD 120 billion within five years by eliminating duties on various Indian exports including textiles, leather, footwear, toys, furniture, and pharmaceuticals. The FTA also benefits farmers and MSMEs by expanding market access. Additionally, the Double Contribution Convention (DCC) was agreed upon, allowing Indian workers in the UK to transfer social security contributions to their Indian provident fund, securing long-term pension benefits. Although the UK parliamentary ratification process will take several months, bipartisan support is expected to expedite approval. The agreement provides a stable, predictable environment for businesses to plan and integrate supply chains, with benefits anticipated to begin accruing shortly after implementation.
July 24, 2025
India-UK Trade Deal Removes Tariffs on Most Products, Boosts Market Access and Security Cooperation
India and the UK signed a comprehensive trade agreement eliminating tariffs on nearly all product categories, aiming to increase bilateral trade by approximately USD 34 billion annually. The deal includes provisions for better market access for Indian goods such as textiles, seafood, and engineering products, and UK products like medical devices and aerospace parts. Concurrently, the parties agreed to negotiate a social security exemption for Indian workers in the UK for up to three years. They also unveiled a Vision 2035 partnership to enhance cooperation in defence, technology, clean energy, and migration, alongside a defence industrial roadmap for co-development of key products. Security cooperation was strengthened through an agreement between Indian and UK law enforcement agencies. The Indian side raised concerns about extremist activities originating from the UK, emphasizing the need to prevent misuse of democratic freedoms. The agreement represents the UK's largest post-Brexit trade deal and aims to foster long-term economic growth and strategic collaboration.
July 24, 2025
Bihar Govt Misses Deadline for Rs 70,877 Crore Utilisation Certificates, Raises Fund Misuse Concerns Under Section 2
The Bihar government failed to submit utilisation certificates for Rs 70,877 crore by the prescribed deadline, raising concerns about the proper use of funds and potential misappropriation. The outstanding certificates include Rs 14,452 crore from before 2017, with major defaults in Panchayati Raj, Education, Urban Development, Rural Development, and Agriculture departments. Additionally, detailed contingent bills worth Rs 9,205 crore remain unsubmitted against advances, violating financial discipline. The state spent only 79.92% of its Rs 3.26 lakh crore budget in 2023-24, surrendered 36.44% of its savings, and saw a 12.34% increase in liabilities, primarily internal debt. Bihar also failed to meet fiscal targets set by the XVth Finance Commission, indicating significant financial management issues.
July 24, 2025
India-UK Trade Deal Boosts Digital Trade, Data Protection, and Cybercrime Safeguards Under CETA Rules
India and the UK entered into a trade agreement under the Comprehensive Economic and Trade Agreement to promote digital trade, ensuring open internet access and cross-border consumer protection. Both parties commit to allowing users to access and use internet services and devices of their choice, subject to reasonable network management and legal frameworks. The pact encourages collaboration on data innovation, regulatory sandboxes, and policies for data mobility and consumer data portability. It permits online contracts for transborder transactions and access to publicly available government data. The agreement mandates protective measures against cybercrime, spam, and fraudulent digital practices, requiring clear identification and opt-out options for unsolicited commercial messages. Both nations agree to limit access to software source codes owned by entities in the other territory, except for authorized investigations, and to safeguard against unauthorized disclosure of such source codes.
TaxTMI 
https://www.taxtmi.com/ne...
TaxTMI 
