Author: Legal Parivar

President Donald Trump dismissed Federal Reserve Governor Lisa Cook late Monday, a shock move that intensifies his push to exert influence over the traditionally independent central bank. In a letter posted on his Truth Social platform, Trump said Cook was removed due to allegations of mortgage fraud. The claims surfaced last week when Bill Pulte, a Trump appointee to the Federal Housing Finance Agency, accused Cook of improperly declaring two primary residences — one in Ann Arbor, Michigan, and another in Atlanta — in 2021 to secure more favorable mortgage terms. The decision comes shortly after Cook vowed not to…

Varun Sridhar, chief executive officer of Paytm Services, a subsidiary of One 97 Communications (Paytm), has stepped down. This comes just a year after Sridhar quit his role as CEO of Paytm Money, the wealthtech arm of the fintech major. Leadership Shuffle at Paytm Money Sridhar’s New Wealthtech Venture Speaking to ET, Sridhar revealed plans to launch a startup in the wealthtech sector: “The Indian wealthtech opportunity is large, growing fast, and something I love doing. This is the perfect time to startup in this space,” Sridhar said. Background & Industry Context Key Takeaways Disclaimer: This article is for informational…

The Department of Telecommunications (DoT) is not considering any fresh relief measures for Vodafone Idea with regard to its massive adjusted gross revenue (AGR) dues, Minister of State for Communications Chandra Sekhar Pemmasani said on Monday. “We have recently converted a lot of their debt into equity. The government has done whatever we thought we could do. At this time, we do not have any discussion or plan to change anything other than what we have done,” Pemmasani stated. Government Stake in Vodafone Idea Despite this, Vodafone Idea has told the Supreme Court that it will not be able to…

Dalal Street is on edge as Mukesh Ambani, Asia’s richest man, prepares to address 44 lakh shareholders at Reliance Industries Limited’s (RIL) Annual General Meeting (AGM) this Friday, August 29. While investor expectations remain modest, Ambani could announce strategic moves that reshape RIL’s trajectory and potentially kickstart one of the world’s largest telecom IPOs.RIL Stock Snapshot RIL remains a key blue-chip stock on the Nifty, closely watched by investors for strategic updates and growth plans. Key Highlights Expected at AGM 1. Jio IPO & Telecom Updates 2. Jio AI Platform – JioBrain 3. New Energy Ambitions 4. Retail & FMCG…

Dalal Street is all set for a high-volatility day as four IPOs – Patel Retail, Vikram Solar, Shreeji Shipping, and Gem Aromatics – are scheduled to debut on the NSE and BSE tomorrow. Investors are keeping a close eye on listing gains, grey market premiums (GMP), and subscription trends to gauge market sentiment. Patel Retail IPO: Strong Contender with 18% GMP Patel Retail, the supermarket chain focused on tier-III cities, is leading the pack with a grey market premium of 18%. The company operates 43 stores across Maharashtra and Gujarat. Its IPO was subscribed 95.69 times overall, with 272 times…

The Union Government on Monday announced that Central Government employees under the Unified Pension Scheme (UPS) can opt to switch back to the National Pension System (NPS), subject to specific conditions. According to an office memorandum from the Finance Ministry, this one-time, one-way switch must be exercised at least one year before superannuation or three months prior to voluntary retirement, whichever is earlier. Similar provisions apply in cases of resignation and compulsory retirement under Rule 56(J), with minor adjustments. Employees who miss the prescribed timelines will continue under UPS by default. The ministry clarified that the facility will not be…

Ethereum, the world’s second-largest cryptocurrency by market capitalisation, touched a fresh all-time high of $4,953.73 during Monday’s trading session (25 August 2025), according to data from CoinMarketCap. The surge in Ethereum prices came amid broader optimism in the global crypto market. Despite the milestone, Ethereum later witnessed profit-booking, trading 4.42% lower at $4,605.94 as of 9:36 a.m. on Monday compared to its levels 24 hours ago. Ethereum’s market capitalisation stood at $558.92 billion, while trading volumes jumped to $68.07 billion, marking a rise of over 130% in the past 24 hours. During the session, Ethereum recorded an intraday high of…

State-run Bank of Maharashtra is planning to raise at least ₹2,000 crore this financial year through a Qualified Institutional Placement (QIP) or Offer for Sale (OFS) to comply with SEBI’s minimum public shareholding requirement. Managing Director and CEO Nidhu Saxena, speaking at the Ficci-IBA banking conference in Mumbai, said, “We will work it out, because as per the current prices, even around ₹2,000 crore should suffice to meet SEBI norms.” On Monday, shares of Bank of Maharashtra closed 0.8% lower at ₹54.38 apiece on the NSE. Saxena added that the bank is evaluating various fundraising options, including OFS. “That is…

US President Donald Trump on Monday reiterated his claim that he personally brokered the May ceasefire between India and Pakistan—a claim India has consistently denied. “We stopped 7 wars, the real number is 10. We stopped Iran… from using a nuclear weapon. Every bomb hit its spot in Iran…. The big one was India and Pakistan. India-Pakistan was next level, could have been a nuclear war. It took 24 hours to stop it. I used trade,” Trump said. According to Trump, his intervention prevented tensions from escalating into a potential nuclear conflict. “We stopped a lot of fights, very, very…

The Securities and Exchange Board of India (SEBI) has issued a recovery order worth ₹18.41 crore against the operators of ‘Baap of Chart’, an unregistered investment advisory platform that rose to fame on social media. The defaulters named in the order include Mohammad Nasiruddin Ansari, Rahul Rao Padamati, and Golden Syndicate Ventures Pvt Ltd. The recovery amount covers penalties, interest, and enforcement costs levied for violations of the SEBI (Investment Advisers) Regulations. Despite earlier directions to refund investors and cease unregistered advisory services, the accused failed to comply, prompting SEBI to take enforcement action. In addition to the ₹18.41 crore…