Author: Legal Parivar

Telangana Governor Tamilisai Soundararajan tendered her resignation on March 18 and forwarded her letter of resignation to President Murmu. Speculation suggests she may contest the Lok Sabha Elections in 2024 from Tamil Nadu as a candidate of the Bharatiya Janata Party (BJP). Additionally, Tamilisai resigned from her position as Lieutenant Governor of Puducherry. Her resignation coincided with Prime Minister Narendra Modi’s scheduled election rally in Telangana’s Jagtial and a roadshow in Coimbatore, Tamil Nadu. There are indications that Tamilisai could vie for one of three seats in Tamil Nadu, potentially including the Thoothukudi seat currently held by the Dravida Munnetra…

Russian President Vladimir Putin declared Russia’s resilience against intimidation as he celebrated a landslide victory in the recent election, positioning himself to become the longest-serving leader in over two centuries. The absence of significant opponents, due to death, imprisonment, or exile, has facilitated Putin’s prolonged rule and his crackdown on dissenters and critics, particularly amid the ongoing military campaign in Ukraine. Addressing a news conference following the closure of polls, Putin expressed gratitude for the support received from citizens and emphasized Russia’s steadfastness against external pressures. With over 99 percent of votes counted, Putin secured an overwhelming 87 percent of…

On March 18, shares of all 10 Adani group companies experienced a downturn following reports from Bloomberg that the US government had expanded its inquiry into the conglomerate regarding potential bribery allegations. In early trading, the flagship Adani Enterprises Ltd saw a nearly 4 percent drop, while Adani Ports and Special Economic Zone Ltd declined by nearly 3 percent. As of 11:03 am, Adani Wilmar Ltd and Adani Power Ltd were down over 1 percent, with Adani Total Gas Ltd, Adani Energy Solutions Ltd, Adani Green Energy Ltd, and Adani Energy Solutions Ltd all trading 2-3 percent lower. Earlier, on…

Shares of Life Insurance Corporation of India (LIC) traded in negative territory, declining by over 2 percent, following the announcement of plans to increase wages by approximately 17 percent for its workforce of over 110,000 employees. LIC revealed on March 15 that it had obtained government approval for a wage revision, effective from August 1, 2022. This decision impacts employees across the organization, with estimated annual implications of around Rs 4,000 crore, potentially inflating the annual wage bill to over Rs 29,000 crore. Additionally, arrears totaling approximately Rs 7,000 crore for the current fiscal year must be factored into the…

Following the Election Commission’s publication of the electoral bonds data on its website, a five-judge bench of the Supreme Court on March 15 inquired why the State Bank of India (SBI) hadn’t provided alphanumeric numbers on the bonds to the poll panel.The case is scheduled for further hearing on March 18. Chief Justice of India DY Chandrachud noted during the proceedings that SBI had failed to furnish the electoral bond numbers despite a prior order instructing them to do so. Solicitor General Tushar Mehta, representing the Union government, informed the court that SBI, not being a party in the electoral…

Paytm, known as One 97 Communications Limited in the public market, stated on March 13 that its app-based and merchant services will continue without interruption, emphasizing an expansion in financial services distribution through partnerships. In a released statement, the company affirmed the seamless operation of its app-based services, such as Paytm, and merchant devices like Paytm QR, Soundbox, and card machines. “We are broadening our financial services distribution platform through collaborations with leading institutions. Paytm remains dedicated to building an inclusive next-generation financial ecosystem for users nationwide,” the company assured. As of 12:26 pm, Paytm stock was trading at Rs…

Sensex and Nifty50 continue downward slide on March 13, shedding early gains to hit day’s low near 22,100 level. Heavyweights Reliance and L&T drag down Sensex despite gains in ITC shares post block deal. Concerns over high valuations persist as broader market sees third consecutive session of decline, with BSE midcap down 2.6% and BSE smallcap down 3.6% by 11:45am. Sensex drops over 470 points (0.6%) and Nifty 50 nearly 200 points (0.9%) around noon. Out of 3,339 stocks traded, 404 advance, 2,891 decline, and 44 remain unchanged. Rising valuations in mid and smallcap segments, fueled by retail investor frenzy,…

Gopal Snacks IPO is set to be listed tomorrow, March 14. The allotment process has been completed, and today, March 13, shares will be credited to the demat accounts of those who were allocated shares. Refunds will also be processed today for those who did not receive shares. The Gopal Snacks IPO received a satisfactory level of subscriptions over the course of three days. On the final day, the subscription rate stood at 9.02 times, according to BSE data. The retail investors’ portion was oversubscribed by 4.01 times, while the Non-Institutional Investors (NII) portion saw a subscription of 9.50 times.…

On March 15, the Supreme Court is set to consider a plea filed by the Association of Democratic Reforms (ADR) seeking to halt the new appointments to the Election Commission of India (ECI) under the recently enacted law. The ECI is facing two vacancies following the recent resignation of Election Commissioner Arun Goel and the retirement of Anup Chandra. In response, Congress leader Jaya Thakur has also filed a plea urging the court to prevent the Centre from appointing new commissioners under the controversial Chief Election Commissioner and other Election Commissioners (Appointment Conditions of Service and Terms of Office) Act,…

Arvind Kejriwal, the Chief Minister of Delhi, condemned the BJP’s implementation of the Citizenship Amendment Act (CAA) before the Lok Sabha polls, labeling it as “unethical vote bank politics.” He emphasized that the public desires the repeal of this law. Kejriwal criticized the BJP government for potentially allowing a significant influx of impoverished minorities from Pakistan and Bangladesh into India, suggesting that it aims to use taxpayer funds to accommodate and provide employment to these migrants. Accusing the BJP of exploiting the situation to gain electoral advantage, Kejriwal asserted that the party could benefit from the support of the migrants…