ECONOMY & NATION


Moneylife Digital Team 27 May 2022
South India Spinners Association (all members unanimously), on 22 May 2022, announced that it has decided to close all mills. “The members will not buy cotton until the cotton price situation is conducive for sustainability of mills,” it says, stopping all procurement of cotton. It has cited...

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The CBI on late Thursday arrested Pune-based realtor and politician Avinash Bhosale in connection with the DHFL-Yes Bank scam case.   Bhosale is the founder of the ABIL Group, which allegedly had certain dealings with the DHFL-YES Bank.   His daughter Swapnali Kadam is the...

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Hours after reports about misuse of facilities at Delhi's Thyagraj Stadium by senior IAS officer Sanjeev Khirwar and his wife and fellow IAS officer Rinku Dugga, both were on Thursday transferred out of the national capital to different locations from Delhi on Thursday.   The Ministry...

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Former chief trader and fund manager of Axis Mutual Fund (Axis MF) Viresh Joshi is on the radar of the income-tax (I-T) department amid allegations of irregularities.   Mr Joshi has been accused of taking bribes from the brokers in lieu of sharing Axis MF's tips.   It has been...

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The Supreme Court (SC) on Thursday set aside the Delhi High Court (HC) order, which stayed the investigation into companies related to the Sahara group and also the look out circulars (LOCs) issued against Sahara group chief Subrata Roy and his wife.   A bench comprising justices DY...

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As edtech platforms start bleeding in India, Unacademy, which recently laid off over 600 employees, has predicted a funding winter that can last as long as 18 months, saying it will cut costs wherever required to weather the dry spell and become profitable.   In a letter to employees,...

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After LPG cylinder, rising prices of tomatoes and green vegetables are jeopardising the common man's kitchen budget. In the national capital, tomatoes are being sold for Rs 60-80; while in many cities its prices have reached Rs 100 amid shortfall in supply.   Apart from tomatoes, green...

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The Enforcement Directorate (ED) swooped on the homes and offices of Shiv Sena leader and Transport Minister Anil D. Parab, here early on Thursday.   The ED teams simultaneously reached over half a dozen locations in Mumbai, Ratnagiri, Pune, including Parab's official bungalow here...

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Adiraj Bali (The Leaflet) 26 May 2022
Pendency relating to criminal trials operates as an ‘engine of oppression’, and the people who languish in jails more often than not belong to poorer sections of society.   On 10th May, a three-judge division bench of the Supreme Court comprising Justices L Nageswara Rao, BR Gavai and...

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The ministry of power on Wednesday said in a statement that it is working on a scheme to liquidate the past dues of discoms (distribution companies) as it owes Rs1,00,018 crore as on 18 May 2022 to the generating companies.   The discoms will be allowed to pay dues in 48 monthly...

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Civil aviation regulator, the directorate general of civil aviation (DGCA) on Tuesday warned airlines against offering unserviceable seats to passengers on their domestic and international flights.   "This is to inform that it has come to notice of the DGCA that some of the scheduled...

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Moneylife Digital Team 25 May 2022
ArcelorMittal Nippon Steel India has announced an investment of Rs1,000 crore towards brownfield expansion of its Vizag pellet plant in Andhra Pradesh.   This investment follows a recent announcement by ArcelorMittal, a parent company of AM/NS India, to develop a ‘round the clock’...

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The Centre has allowed import of a quantity of 20 lakh tonne, each of crude soyabean oil and crude sunflower oil per year, for a period of two years at zero customs duty and Agricultural Infrastructure and Development Cess, an official note said on Tuesday.   This move comes amid...

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Moneylife Digital Team 25 May 2022
A sharp increase in the prices of solar modules and commodities such as steel,  together with rising freight costs, will pull down the return on equity (ROE) of nearly a fifth of the 25 GW (gigawatt) private solar capacity, according to a recent study by research and ratings agency CRISIL....

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SpiceJet on Wednesday informed of an attempted ransomware attack which slowed down its operations and impacted morning flight departures.   "Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT...

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The Supreme Court has stayed the National Green Tribunal (NGT) order, imposing Rs 15 crore penalty on a bottling unit of Coca Cola company.   A bench of Justices L. Nageswara Rao, B.R. Gavai, and A.S. Bopanna said: "There shall be stay of operation of the impugned judgment and order...

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The enforcement directorate (ED) on Tuesday grilled the National Stock Exchange's (NSE's) former chief executive officer (CEO) and managing director (MD) Chitra Ramkrishna at length at Tihar Jail in connection with the co-location (Colo) scam.   The financial probe agency is...

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The dairy farmers of Tirupur are affected after the increased price of cotton seeds led to an increase in the price of cattle feed. Cotton seeds are a vital part of the cattle feed and are rich in protein and fibre.   Farmers told IANS that the price of cotton seeds has gone up from...

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Forced to pay service charges at a restaurant or food outlet of your choice? Are you aware this is entirely optional and voluntary and insistence on it as mandatory violates your right as a consumer?   The government has scheduled a meeting on 2nd June with the National Restaurant...

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The average bid price of coal at a recent spot e-auction conducted by Mahanadi Coalfields Limited rose more than 800% above the notified price, according to a representation by the Coal Consumers Association of India (CCAI), which has pointed this out as an example of how coal buyers in the...

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