Author: Legal Parivar

In a historic move, Sweden officially joined NATO on Thursday, becoming the alliance’s 32nd member. The accession documents were handed over at a ceremony in Washington, where Secretary of State Antony Blinken described it as a significant development that underscored Russia’s strategic miscalculations. During the ceremony, Blinken accepted the accession documents from Sweden’s prime minister, following the ratification process by the other 31 NATO members. Reflecting on the journey to this point, Blinken emphasized the unpredictability of Sweden’s NATO membership status just three years ago. He highlighted the current situation as a stark illustration of the strategic blunder caused by…

Nazara Technologies, a gaming firm based in Mumbai, is reportedly aiming to acquire Smaaash Entertainment Pvt. Ltd through the insolvency and bankruptcy process, as per sources familiar with the situation. As part of the corporate insolvency resolution process, Nazara is expected to submit its resolution plan by March 9 to revive the insolvent firm. Last year, various entities including Adlabs Entertainment (Malpani Group), Manikchand Group, FZE, Tech Connect Services, Capri Global, Jindal Enterprises, and iLabs India Special Situation Fund had also shown interest in acquiring Smaaash Entertainment. The bid amount remains confidential under the code, according to one of the…

Rahul Gandhi, former Congress president, is set to contest from Kerala’s Wayanad once again, as per sources. His candidacy was approved during the first meeting of the Congress party’s Central Election Committee (CEC) held in New Delhi. Gandhi, who is also a member of the CEC, participated in the meeting virtually from Gujarat. He had previously won the Wayanad seat in 2019 by a significant margin, although he lost the Amethi constituency to Smriti Irani. The meeting focused on finalizing candidates for the upcoming Lok Sabha elections in 2024, discussing potential nominees for seven states including the North East, Kerala,…

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, sanctioned a hike in the minimum support price (MSP) of raw jute by ₹285 to ₹5,335 per 100 kg for the 2024-25 season. Union Minister Piyush Goyal announced that approximately 4.0 million jute farmers and their households, along with 500,000 workers linked to jute mills, will benefit from this decision. The MSP for the upcoming season adheres to the government’s commitment to fix it at least 1.5 times the all-India weighted average cost of production, as declared in the 2018-19 budget. The revised support price guarantees a…

Vedanta, led by Anil Agarwal, disclosed on Thursday, March 7, that it has received a regulatory warning from the Securities and Exchange Board of India (SEBI) for “disclosing information related to its unlisted ultimate holding company”. In a filing to the stock exchange, Vedanta revealed that it received a communication from the National Stock Exchange (NSE) on March 6, 2024, conveying SEBI’s issuance of an administrative warning to the conglomerate. SEBI has instructed Vedanta to present the warning letter to its board and implement necessary corrective measures to bolster internal controls for corporate announcements and press releases, as stated in…

SJVN Green Energy, a subsidiary of state-owned power producer SJVN, has successfully secured solar power projects with a capacity of 1,352 MW. The total investment for these projects is estimated to be Rs 7,436 crore. The company received the Letter of Awards (LoA) for these projects, signifying a significant step towards renewable energy development. The LoAs were awarded in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis, SJVN Director (Finance) Akhileshwar Singh, and SGEL CEO Ajay Singh in Mumbai. These solar power projects, to be developed in Maharashtra’s Nashik, Solapur, Ahmednagar, and Pune districts, are part of the Mukhya…

To mitigate the impact of rising prices, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved an additional installment of Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) for pensioners on March 7, representing a 4 percent increase. Effective from January 1, 2024, this increase will raise the DA and DR to 50 percent. According to Union Minister Piyush Goyal, this adjustment will benefit 49.18 lakh employees and 67.95 lakh pensioners and aligns with the formula based on the 7th Central Pay Commission’s recommendations. The hike will result in an annual expenditure of Rs 12,868.72 crore.…

Bank of Baroda introduces special benefits for its women account holders in celebration of International Women’s Day. The offer extends to accounts such as the BoB Mahila Shakti Savings Account or the BoB Women Power Current Account opened before June 30, 2024, with loan facilities utilized by December 31, 2024, as stated by the bank. These accounts offer exclusive benefits for women, including up to a 25 basis points interest rate reduction on retail loans (with a 0.25 percent reduction on two-wheeler loans, 0.15 percent on education loans, and 0.10 percent on auto loans, home loans, and mortgage loans). Additionally,…

India’s electronics sector has achieved its target set ten years ago, positioning itself as the world’s second-largest producer of mobile phones, as reported by the India Cellular and Electronics Association (ICEA). Over the past decade, India has manufactured 2.45 billion mobile phone units valued at Rs 4.1 lakh crore, a significant increase from Rs 18,900 crore in 2014-15. Representing major brands such as Apple, Xiaomi, Oppo, Vivo, and Lava, ICEA highlighted the industry’s transition from 78 percent import dependency in 2014 to 97 percent self-sufficiency presently, with only 3 percent of mobile phones being imported. Although the industry aimed for…