Author: Legal Parivar

Procurement of goods and services through the Government e-Market (GeM) portal has surpassed Rs 4 lakh crore so far in the current fiscal year, driven by increased purchasing activities across various ministries and departments, as per a senior government official’s statement on Friday. Launched on August 9, 2016, the GeM portal facilitates online purchases of goods and services by all central government ministries and departments. GeM CEO P K Singh informed reporters that as of March 28, the procurement has crossed the significant milestone of Rs 4 lakh crore, marking a historic achievement. Singh highlighted the involvement of the defence…

The Indian Air Force (IAF) has provided an explanation to the Delhi High Court regarding the inadvertent firing of a BrahMos supersonic missile that ended up in Pakistan two years ago. As reported by The Economic Times, the IAF informed the High Court that the combat connectors of the BrahMos missile “remained attached to the junction box,” resulting in the unintended firing in Pakistan. According to the IAF, the incident resulted in a loss of ₹25 crore to the government exchequer and had a detrimental impact on the relations between India and Pakistan. The IAF’s Court of Inquiry investigated the…

The debt resolution process of SKS Power Generation (Chhattisgarh), currently under administration, faces a setback as the Allahabad High Court has directed the Central Bureau of Investigation (CBI) to investigate charges of misappropriation and financial misconduct against the company and its associated entities. In its order dated March 19, the Allahabad High Court ordered an inquiry into SKS Power Generation (SKSPGL) and its affiliates for allegedly transferring funds to the British Virgin Islands and Bermuda through fictitious companies. These funds were purportedly used to acquire SKSPGL’s assets in collaboration with bank officials, allegedly violating central bank guidelines. Additionally, the Serious…

A new public interest litigation (PIL) has been lodged in the Delhi High Court, urging for the ousting of Arvind Kejriwal from his position as Chief Minister of Delhi following his arrest by the Enforcement Directorate (ED) in connection with the liquor policy case. Vishnu Gupta, a social activist and the National President of Hindu Sena, filed this plea. Previously, a similar PIL presented by Surjit Singh Yadav was dismissed by a division bench led by Acting Chief Justice Manmohan. The court stated that there was no legal prohibition barring an arrested Chief Minister from holding office. It emphasized that…

In the week ending March 28, Indian equity indices made substantial gains, approaching record levels despite mixed global markets. Factors contributing to this included foreign institutional investors (FIIs) turning net buyers, as well as a decrease in the current account deficit. During this period, the BSE Sensex rose by 819.41 points or 1 percent to close at 73,651.35, while the Nifty50 index added 260 points or 1 percent to reach 22,326.90. The BSE Mid-cap Index increased by 1.3 percent, buoyed by companies such as Max Healthcare Institute, Supreme Industries, and Aurobindo Pharma, while some notable losers included Rajesh Exports and…

A U.S. court ruled on Friday that Meta Platforms, formerly known as Facebook, cannot postpone the U.S. Federal Trade Commission’s (FTC) reopening of a probe into alleged privacy violations by its Facebook unit while Meta pursues a lawsuit challenging the agency’s authority. The decision by the U.S. Court of Appeals for the D.C. Circuit in Washington, D.C., found that Meta had not demonstrated a likelihood of success in its challenge. The court stated that Meta had “not met its heavy burden of showing entitlement to an injunction pending appeal.” This ruling follows a separate request by Meta on March 12,…

Less activity is expected in the primary market during the initial week of the new financial year FY25, starting from April 1, as there will be only one major IPO opening for subscription, with 10 companies scheduled for listing on the bourses. Bharti Hexacom IPO: The fixed-line telephone and broadband services provider will launch its Rs 4,275-crore IPO on April 3, with a price band set at Rs 542-570 per share. This IPO comprises only an offer-for-sale of 7.5 crore equity shares by public shareholder Telecommunications Consultants India. The offer by the Bharti Airtel subsidiary will conclude on April 5.…

President Droupadi Murmu is set to present the Bharat Ratna to the late former Bihar CM Karpoori Thakur on Saturday. Expressing his joy, Karpoori Thakur’s son, Ram Nath Thakur, stated, “The people of Bihar and the country are as jubilant as I am today. Nitish Kumar ji had continuously appealed to the Government of India to confer Bharat Ratna on Karpoori Thakur ji.” In 2024, Prime Minister Narendra Modi recommended five distinguished personalities for the Bharat Ratna award, including Karpoori Thakur, LK Advani, PV Narasimha Rao, Charan Singh, and MS Swaminathan. As per the ANI news agency, President Murmu is…

A group of seasoned American professionals has lodged accusations against Tata Consultancy Services (TCS) for allegedly engaging in unlawful discrimination based on their race and age, as per a report by the Wall Street Journal citing complaints filed with the US Equal Employment Opportunity Commission. The report suggests that TCS purportedly terminated their employment and outsourced some of their tasks to lower-paid Indian immigrants holding temporary work visas. Since late December, at least 22 individuals have reportedly filed complaints against TCS with the Equal Employment Opportunity Commission. TCS boasts clients among the largest corporations in the US. According to the…

Taxpayers seeking to make last-minute tax-saving investments for FY 2023-24 may find March 30 and March 31 crucial, being the final two days of the financial year. Missing this deadline would mean forfeiting the opportunity to invest in the current fiscal year. Investing in government schemes like the Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) on March 30 and March 31 could potentially qualify as investments for FY 2023-24. However, the crucial factor lies in when the bank processes the transaction. If the remittance is processed on the same day, the investment date will be considered these dates,…