Author: Legal Parivar

Just three days before the Supreme Court’s ruling that declared electoral bonds unconstitutional, an RTI investigation unveiled that the Finance Ministry had authorized the Security Printing and Minting Corporation of India (SPMCIL) to print 10,000 electoral bonds valued at Rs 1 crore each. This authorization came to light through file notations, correspondence, and email exchanges between the Finance Ministry and the State Bank of India (SBI), as reported by The Indian Express. However, in the wake of the Supreme Court’s decision on February 28, the Finance Ministry promptly directed the SBI to halt the printing of these bonds. The revelation…

The Reserve Bank of India (RBI) announced that India’s foreign exchange reserves surged by $140 million to reach a record high of $642.631 billion as of March 22. This marks the fifth consecutive week of substantial growth in the country’s overall reserves. The previous week also witnessed a significant increase, with reserves rising by $6.396 billion to reach $642.492 billion. The surge in reserves is attributed to higher Foreign Portfolio Investor (FPI) flows, reflecting growing foreign investor confidence in Indian markets. Commenting on the FPI flows in FY24, Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated,…

Just days after being released on bail from prison, YouTuber and winner of Bigg Boss OTT 2, Elvish Yadav, has landed in fresh trouble. He, along with singer Rahul Yadav, also known as Fazilpuriya, has been accused of unlawfully using snakes and using abusive language during the filming of their song ’32 Bore’. The case has been registered under Section 294 of the Indian Penal Code at the Badshahpur police station in Gurugram. According to Satish Deshwal, SHO of Badshahpur police station, they have received a court order to file an FIR against Elvish Yadav and Fazilpuriya under Section 156(3)…

During an event organized by the Gems and Jewellery Exports Promotion Council (GJEPC), Mukesh Ambani, Chairman of Reliance Industries Ltd, emphasized the role of the business community in building a stronger and more inclusive India. He expressed confidence in the industry’s potential to achieve USD 100 billion in exports in the coming decades. Ambani commended the gems and diamonds industry for its significant contribution, reaching USD 40 billion in exports and generating over 5 million jobs in the country. He acknowledged the industry’s journey from humble beginnings to remarkable success, particularly praising the efforts of individuals from Palanpur. Highlighting the…

JSW Steel has announced the operationalization of a hot strip mill at its integrated steel plant in Vijayanagar, Karnataka. According to the company’s exchange filing, the mill, with an annual capacity of 5 million tonnes (MT), has made its inaugural dispatch of steel products. “JSW Vijayanagar Metallics Ltd (JVML), a wholly-owned subsidiary of the company, today successfully commissioned its hot strip mill (HSM) at Vijayanagar plant with a capacity of 5 MTPA and has made its first dispatch,” stated JSW Steel. The hot strip mill (HSM) is capable of producing plates and coils and is outfitted with cutting-edge features including…

A recent ruling by the Patna High Court sheds light on the legal interpretation of marital disputes. In a case involving Shahdeo Gupta and his son Naresh Kumar Gupta, residents of Bokaro, Jharkhand, the court examined allegations of cruelty towards Naresh Kumar Gupta’s ex-wife. The case, initiated in 1994 by Naresh Kumar Gupta’s former wife in Nawada, her hometown, accused the husband and father-in-law of physical and material abuse, including demands for dowry in the form of a car. Despite the transfer of the case from Nawada to Nalanda, and subsequent imprisonment of the father-son duo for a year, the…

On March 31, Sunday, Delhi Capitals will face off against Chennai Super Kings (CSK) at Vishakapatnam’s Dr. Y.S. Rajasekhara Reddy ACA-VDCA International Cricket Stadium. This match marks the third encounter for both teams in IPL 2024. The match between Delhi Capitals and Chennai Super Kings is scheduled to commence at 7:30 PM. Rishabh Pant’s Delhi Capitals currently occupy the 8th position on the points table, while Ruturaj Gaikwad’s Chennai Super Kings (CSK) are leading at the 1st position. In IPL 2024, the DC vs CSK match will take place at Dr. Y.S. Rajasekhara Reddy ACA-VDCA International Cricket Stadium in Vishakapatnam…

As the new financial year 2024-25 (FY25) commences on Monday, April 1, several companies, including Ashok Leyland, Varun Beverages, and TVS Holdings, are set to trade ex-dividend in the coming week, alongside other corporate actions such as stock splits, rights issues, and buybacks, as per data from the BSE. Dividend Stocks Trading Ex-Dividend: Tuesday, April 2, 2024: Wednesday, April 3, 2024: Thursday, April 4, 2024: Friday, April 5, 2024: Stock Splits: Wednesday, April 3, 2024: Thursday, April 4, 2024: Friday, April 5, 2024: Other Corporate Actions: These actions mark significant events in the Indian stock market as companies navigate the…

Deputy Governor of the Reserve Bank of India (RBI), M Rajeshwar Rao, has cautioned banks against compromising underwriting standards and risk pricing as they increasingly rely on fintech companies. Rao emphasized the importance of maintaining robust underwriting practices and appropriate risk assessment, speaking at the Investment Summit. Rao highlighted the need for vigilance in ensuring that banks and non-banking financial companies (NBFCs) don’t lower their standards or improperly price risks when onboarding customers through fintech partners. The RBI is actively assessing existing models to determine how collaborations with fintech firms can enhance credit delivery while upholding risk management and underwriting…

Finance Minister Nirmala Sitharaman announced on Saturday that India’s gross domestic product (GDP) is poised to expand by 8% or more in the quarter ending March 31. Sitharaman expressed confidence that the economy would maintain the same level of year-on-year growth for the 2023/24 financial year, citing improved inflation management and macroeconomic stability as contributing factors. During an event in Mumbai, Sitharaman stated, “Hopefully the fourth quarter… will also have (growth) of 8% or above 8% resulting in 2023/24 having an average growth in GDP of 8% or over 8%.” The official GDP data for the January-March quarter is scheduled…