Author: Legal Parivar

Hurun India, in its latest Rich List for 2025, has ranked Arista Networks CEO and President Jayshree Ullal as the wealthiest Indian-origin leader globally, placing her ahead of prominent technology executives such as Google CEO Sundar Pichai and Microsoft CEO Satya Nadella. According to official data, Ullal secured the top position among Indian-origin executives worldwide, reflecting her growing wealth and the strong performance of Arista Networks. Earlier this year, she was also ranked second among the top five first-generation women wealth creators in the Candere Hurun India Women Leaders List 2025. Jayshree Ullal, an Indian-origin, British-born business leader, has been…

BRICS nations—Brazil, Russia, India, China and South Africa—are increasingly reducing their reliance on the US dollar and strengthening their focus on gold as part of a broader reserve diversification strategy. While BRICS countries officially hold around 20% of global gold reserves, they, along with closely aligned partner nations, now account for nearly half of global gold production. Russia and China are leading this shift. In 2024, China produced 380 tonnes of gold, while Russia added 340 tonnes. Brazil also returned to the gold market in September 2025, purchasing 16 tonnes—its first gold acquisition since 2021. BRICS members are pursuing a…

Top Congress leaders on Saturday attended a key meeting of the Congress Working Committee (CWC), the party’s highest decision-making body, to discuss the prevailing political situation and chart the party’s response to the government’s decision to replace the UPA-era Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005. The deliberations focused on the Centre’s move to introduce the Viksit Bharat–Guarantee for Rozgar and Ajeevika Mission (Gramin) Act (VB-G RAM G), which replaced MGNREGA during the recently concluded winter session of Parliament. The Bill has since received President Droupadi Murmu’s assent. The extended CWC meeting was attended by Congress president Mallikarjun…

Mumbai locals: Commuter inconvenience intensified across Mumbai on Saturday as large-scale railway blocks triggered hundreds of local train cancellations on both the Central and Western Railway networks. The restrictions have been imposed to facilitate major engineering and maintenance works at critical suburban sections. On the Western Railway (WR) network alone, around 300–350 suburban services, including AC local trains, have been cancelled between December 26 and 29. According to WR Chief Public Relations Officer Vineet Abhishek, the disruptions are linked to a 30-day mega block for the construction of the sixth railway line between Kandivli and Borivli. Officials said 296 trains…

The Union Cabinet, headed by Prime Minister Narendra Modi, approved the Terms of Reference (ToR) for the 8th Pay Commission in October 2025, raising expectations of salary and pension revisions for central government employees and retirees. The commission is tasked with revising pay, pensions, and allowances using a key multiplier known as the fitment factor, which is typically aligned with inflation and economic realities. How the Fitment Factor Will Be DeterminedThe 8th Pay Commission will assess multiple factors including inflation trends, real wage erosion, fiscal capacity, and the government’s compensation philosophy, aiming to reset salaries while maintaining sustainable public finances.…

RailTel Corporation of India Ltd. has won a major international contract worth ₹19.83 crore from the Ministry of External Affairs (MEA) to provide project implementation services for establishing a data center inside the existing building of the MEA in Addis Ababa, Ethiopia. The work order, received on December 26, 2025, will be executed by December 25, 2029. RailTel confirmed that the order is entirely international in nature, with no involvement of promoter groups or related party interests. The contract will involve project management and technical implementation for the data center, further strengthening RailTel’s footprint in global telecom and IT infrastructure…

Brightcom Group Limited on Friday informed stock exchanges that it has completed all pending compliance requirements under Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018, for the quarters ended June 30, 2025 and September 30, 2025. In a regulatory filing to the BSE and NSE, the company said the compliance was completed on December 26, 2025, following a final reconciliation and validation of depository-level data carried out in coordination with its Registrar and Transfer Agent (RTA) and the depositories. The disclosure comes in response to a BSE notice dated December 22, 2025, which had proposed shifting Brightcom Group’s…

Xchanging Solutions Limited, a DXC Technology company, on Friday issued an addendum to its earlier disclosure on pending litigation, clarifying that there is no change in the principal demand or penalty amounts previously communicated to stock exchanges. In a regulatory filing dated December 26, the company said the revised disclosure only reflects the addition of an estimated interest component, quantified following the latest order dated November 27, 2025. According to the filing, the total demand amount originally disclosed on August 14, 2023 stood at ₹1,055.6 crore. An additional ₹74.96 crore has now been added towards estimated interest costs, which continue…

Pharmaceutical and specialty chemicals company Hikal Ltd on Friday disclosed that it has identified certain irregularities during an internal fact-finding review, primarily related to revenue recognition and supporting documentation for specific periods. In a regulatory filing to the BSE and NSE, the company said the matter involves suspected misconduct by certain employees and is being treated as an internal misconduct case. The review covers transactions related to Q4 FY25, Q1 FY26 and Q2 FY26. Impact on financials Hikal clarified that the issue is expected to affect only the timing and recognition of revenue, and not the genuineness of underlying sales.…

Punjab National Bank (PNB) on Friday informed the Reserve Bank of India (RBI) about a borrower fraud amounting to approximately ₹2,434 crore involving former promoters of SREI Equipment Finance Ltd and SREI Infrastructure Finance Ltd, according to a regulatory filing. The state-owned lender clarified that both SREI entities have already been successfully resolved under the Corporate Insolvency Resolution Process (CIRP) as approved by the National Company Law Tribunal (NCLT). Of the total fraud amount, ₹1,241 crore pertains to the loan account of SREI Equipment Finance Ltd, while ₹1,193 crore relates to SREI Infrastructure Finance Ltd. PNB said it has made…