Earlier SCI received a favourable order from the Income Tax Appellate Tribunal for FY09-10 concerning sundry receipts & interest income. Following this, SCI received an income tax refund of ₹199.76 Cr (incl. ₹85.75 Cr interest).
Sunday, February 8, 2026
📈 #SCI soars 13.69% on stellar Q3 net profit surge of 140% and interim #dividend declaration
Saturday, February 7, 2026
New Framework for #IndiaUSTradeDeal
India intends to purchase $500 billion of U.S. energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years from USA
The United States of America (United States) have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement). Th framework reaffirms the countries’ commitment to the broader U.S.-India Bilateral Trade Agreement (BTA) negotiations, launched by President Donald J. Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains. The Interim Agreement between the United States and India will represent a historic milestone in our countries’ partnership, demonstrating a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes.
Key terms of the Interim Agreement between the United States and India will include:
India will eliminate or reduce tariffs on all U.S. industrial goods and a wide range of U.S. food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.
The United States will apply a reciprocal tariff rate of 18 percent under Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff to Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits), as amended, on originating goods of India, including textile and apparel, leather and footwear, plastic and rubber, organic chemicals, home décor, artisanal products, and certain machinery, and, subject to the successful conclusion of the Interim Agreement, will remove the reciprocal tariff on a wide range of goods identified in the Potential Tariff Adjustments for Aligned Partners Annex to Executive Order 14346 of September 5, 2025 (Modifying the Scope of Reciprocal Tariffs and Establishing Procedures for Implementing Trade and Security Agreements), as amended, including generic pharmaceuticals, gems and diamonds, and aircraft parts.
The United States will also remove tariffs on certain aircraft and aircraft parts of India imposed to eliminate threats to national security found in Proclamation 9704 of March 8, 2018 (Adjusting Imports of Aluminum Into the United States), as amended; Proclamation 9705 of March 8, 2018 (Adjusting Imports of Steel Into the United States), as amended; and Proclamation 10962 of July 30, 2025 (Adjusting Imports of Copper Into the United States). Similarly, consistent with U.S. national security requirements, India will receive a preferential tariff rate quota for automotive parts subject to the tariff imposed to eliminate threats to national security found in Proclamation 9888 of May 17, 2019 (Adjusting Imports of Automobiles and Automobile Parts Into the United States), as amended. Contingent on the findings of the U.S. Section 232 investigation of pharmaceuticals and pharmaceutical ingredients, India will receive negotiated outcomes with respect to generic pharmaceuticals and ingredients.
The United States and India commit to provide each other preferential market access in sectors of respective interest on a sustained basis.
The United States and India will establish rules of origin that ensure that the benefits of theAgreement accrue predominately to the United States and India.
The United States and India will address non-tariff barriers that affect bilateral trade. India agrees to address long-standing barriers to the trade in U.S. medical devices; eliminate restrictive import licensing procedures that delay market access for, or impose quantitative restrictions on, U.S. Information and Communication Technology (ICT) goods; and determine, with a view towards a positive outcome, within six months of entry into force of the Agreement whether U.S.-developed or international standards, including testing requirements, are acceptable for the purposes of U.S. exports entering the Indian market in identified sectors. Recognizing the importance of working together to resolve long-standing concerns, India also agrees to address long-standing non-tariff barriers to the trade in U.S. food and agricultural products.
For the purposes of enhancing ease of compliance with applicable technical regulations, the United States and India intend to discuss their respective standards and conformity assessment procedures for mutually agreed sectors.
In the event of any changes to the agreed upon tariffs of either country, the United States and India agree that the other country may modify its commitments.
The United States and India will work towards further expanding market access opportunities through the negotiations of the BTA. The United States affirms that it intends to take into consideration, during the negotiations of the BTA, India’s request that the United States continue to work to lower tariffs on Indian goods.
The United States and India agree to strengthen economic security alignment to enhance supply chain resilience and innovation through complementary actions to address non- market policies of third parties, as well as cooperation on inbound and outbound investment reviews and export controls.
India intends to purchase $500 billion of U.S. energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years. India and the United States will significantly increase trade in technology products, including Graphics Processing Units (GPUs) and other goods used in data centers, and expand joint technology cooperation.
The United States and India commit to address discriminatory or burdensome practices and other barriers to digital trade and to set a clear pathway to achieve robust, ambitious, and mutually beneficial digital trade rules as part of the BTA.
The United States and India will promptly implement this framework and work towards finalizing the Interim Agreement with a view to concluding a mutually beneficial BTA consistent with the roadmap agreed in the Terms of Reference BTA consistent with the roadmap agreed in the Terms of Reference.
Friday, February 6, 2026
IRB Infra plans to issue bonus #shares
The proposed bonus issue will be subject to approval from the company’s shareholders and other requisite regulatory approvals.
The board of IRB Infrastructure Developers Ltd. will review unaudited financial results for the quarter and nine months ended December 31, 2025.A potential bonus share issue is under consideration butbsubject to shareholder and regulatory approval.
February 19, 2026, is the record date for an interim dividend, if declared.
IRB is India's first integrated multinational transport infrastructure developer in the roads & highways segment. The company has a strong track record of constructing, tolling, operating, and maintaining around 19,000 lane kms pan-India in its existence of more than 25 years in India.
The company reported a 41% surge in consolidated net profit to Rs 140.82 crore on a 10.42% increase in total revenue from operations to Rs 1,751.02 crore in Q2 FY26 over Q2 FY25.
Thursday, February 5, 2026
Launch of Bharat Taxi service by HM #AmitShah in #Delhi today
Union Home Minister Amit Shah will unveil Bharat Taxi at 3 p.m. in New Delhi, a cooperative platform where drivers called 'Sarathis' hold shares and earn without commissions or surge pricing. Pilots in Delhi-NCR and Rajkot since December 2025 onboarded over 300,000 drivers for 10,000 daily rides, offering lower fares, accident insurance, and family health coverage. Backed by Modi's cooperative vision, it aims to expand nationwide in two years, though some question if it can challenge market leaders holding 90% of the sector.
Friday, January 30, 2026
#ED arrests ex #RCOM president Punit Garg in Rs 40k cr. bank 'fraud' case
The Enforcement Directorate (ED) on Friday said it has arrested former Reliance Communications (RCOM) president Punit Garg on money laundering charges in an alleged Rs 40,000 crore worth bank loan fraud case.
According to a ED press statement probe shows he diverted Proceeds of Crime to offshore entities, and used POC for his children’s overseas education. He also fraudulently sold a $8.3 million luxury condo in Manhattan, New York and siphoned the sale proceeds to a Dubai based entity. The Hon’ble Special Court (PMLA), Rouse Avenue has granted ED 9 day custody while investigation continues.
#Korean inspired recipe video series by Mother’s Recipe
Mother’s Recipe has launched Korean inspired recipes to everyday kitchens with a new digital first video series using its Chinese Sauces.
Speaking about the campaign, Sanjana Desai, Executive Director, Mother’s Recipe, said, “Home cooking has always been about care. What is changing is the kind of flavours people want to bring into their kitchens. We are seeing more consumers, especially young adults, explore global cuisines at home and Korean food is a great example of that. This series is our way of making those recipes feel simpler to try. With our Chinese Sauces, we can bring the flavour together quickly, without taking away from the joy of cooking.”
The series features Korean Spicy Paneer made using Soya Bean Sauce, Garlic Chilli Sauce and Red Chilli Sauce, Korean Spicy Noodles made using Desi Szechwan Sauce, Green Chilli Sauce, Soya Bean Sauce and Chilli Vinegar and Korean Bibimbap made using Chilli Vinegar and Soya Bean Sauce. Korean Fried Rice and Korean Veg Dakgalbi bring the same comfort and punch using Mother’s Recipe sauces, helping recreate Korean style favourites with ingredients that are easy to find. Each recipe is designed to be easy to follow with clear steps that help viewers cook confidently even if it is their first attempt at Korean style food.
New #roadsafety awareness initiative by Zuno General Ins.
Zuno General Insurance (formerly Edelweiss General Insurance) has launched new road safety awareness initiative.
Commenting on the initiative, Shanai Ghosh, MD & CEO, Zuno General Insurance said, “At Zuno, we believe that road safety is a shared responsibility, and that positive reinforcement can be a powerful nudge towards better driving behaviour. Over the years, we’ve built initiatives that go beyond awareness from on-ground movements like Talking Zebra to product innovations like our mobile telematics-led Zuno SmartDrive car insurance, which rewards safe and responsible drivers. We aim to go beyond awareness and actively shape driving behaviour in the country. Through this initiative, we want to celebrate good drivers and encourage others to join them too, making Indian roads safer”.
Starting Tuesday, 20th January, and running through the month, the activation will be rolled out across select traffic signals in 8 cities - Mumbai, Delhi, Bangalore, Hyderabad, Kolkata, Ahmedabad, Goa and Guntur.
The Road Accidents in India Report (2022) recorded 4,61,312 crashes, leading to 1,68,491 fatalities and 4,43,366 injuries. On average, India witnesses 53 crashes and 92 deaths every hour, underscoring the urgent need for continued road safety efforts. According to global data, India witnesses the highest number of road accidents in the world.
Thursday, January 29, 2026
Section 47 objections can only be invoked during the pendency of execution proceedings #SupremeCourt
In the landmark judgment of Ananda Chandra Panda (Dead) thru LRs v. The Collector, Keonjhar & Another (2026 INSC 91), the Supreme Court of India provided a definitive interpretation of the timing and scope of Section 47 of the CPC.
This case is a significant precedent for ensuring that litigation does not become an endless loop. Here is the detailed breakdown:
1. Case Context: The "Zombie" Objection
The dispute centered on a land possession decree. In 2006, the Executing Court recorded that the decree was "fully satisfied" (the property was handed over) based on the reports of the Court Commissioner and the bailiff.
The Twist: Several months after the court officially closed the case as satisfied, the Respondent (the Collector) filed an application under Section 47, claiming that the wrong plot of land had been delivered.
2. The Supreme Court's Verdict
The Bench (Justice B.V. Nagarathna and Justice Ujjal Bhuyan) overturned the High Court’s decision and laid down the following strict rules:
The "Pendency" Requirement: Section 47 can only be invoked while the execution proceedings are still pending.
Post-Satisfaction Bar: Once a court records "full satisfaction" of the decree and the case is closed, the Executing Court becomes functus officio (its authority is exhausted). You cannot use Section 47 to reopen a case that is legally dead.
The Principle of Finality: Allowing objections after a decree is satisfied would mean no winner could ever be sure their case is truly over. The court emphasized that judicial proceedings must reach a final conclusion.
Key Quote from the Judgment:
"Questions relating to execution, discharge, or satisfaction must be determined during the process of execution... and not subsequently when the proceeding is closed."
If you are a Decree Holder (the winner), this judgment protects you from last-minute hurdles after you've already received your dues. If you are a Judgment Debtor (the loser), it means you must be extremely vigilant; if you don't raise your Section 47 objections immediately during the execution process, you lose the right to raise them forever.
In legal practice, Section 151 is most frequently used in execution proceedings to obtain an Interim Stay.
While Section 47 allows the court to decide your objection, it doesn't automatically stop the bailiff from knocking on your door or the auctioneer from selling your property. You need Section 151 to "freeze" the situation.
How Section 151 Secures an Interim Stay
When you file your Section 47 objection, you simultaneously invoke Section 151 to ask for a stay. The court follows a specific logic to grant this:
Prima Facie Case: You must show the judge that your objection isn't just a delay tactic—there is a genuine legal point to be settled (e.g., "The decree says Plot A, but they are seizing Plot B").
Irreparable Loss: You must demonstrate that if the stay isn't granted, the damage will be permanent (e.g., "If my house is demolished today, winning the Section 47 objection tomorrow won't bring it back").
Balance of Convenience: The court weighs who will suffer more. Usually, a short delay in execution is seen as less harmful than a permanent, wrongful loss of property.
Following the Ananda Chandra Panda (2026) logic, courts are now very wary of "Stay Applications." If the judge suspects you are using Section 151 just to buy time, they may:
Grant a stay only if you deposit a security amount in court.
Impose heavy costs if your Section 47 objection is later found to be frivolous.
Set a very strict time limit (e.g., "Stay granted for 15 days only").
New Paradise Food Court outlet launched at Phoenix Mall of Asia in #Bangalore
Paradise Food Court has launched its new outlet at Phoenix Mall of Asia in Bangalore. The 57th outlet of Paradise will offer a wide array of legendary Hyderabadi cuisine to customers in the cosmopolitan city of Bangalore.
"Our choice of the current location is also strategic in that we can bring our cuisine closer to as many customers as possible," said Abhik Mitra -MD & CEO, Paradise Food Court Pvt. Ltd.
"We have ensured that our menu brings innovation in addition to the legendary foods we have been serving for decades with each passing season," added Robinder Singh, COO – Paradise Food Court Pvt. Ltd.
Paradise Food Court entered Limca Book of Records for ‘Most Biryanis Served in a Year’, serving over 90 lakh plates in 2018 alone. The brand has also won multiple awards, including the Asia Food Congress Award, Golden Spoon Award, and recognitions from GHMC, Times Food Awards, and Pride of Telangana.
#SC declines to issue #writ to enforce min. wage for domestic workers
The apex court observed that while the plight of domestic workers is real, the judiciary cannot encroach upon the legislative domain.
The Supreme Court has declined to entertain a public interest litigation (PIL) seeking a comprehensive legal framework and enforcement of minimum wages for domestic workers, holding that it cannot issue a writ directing the Centre and states to amend or enact laws.
In the case of Penn Thozhilalargal Sangam & Ors. vs. Union of India & Ors. (Writ Petition (Civil) No. 42/2026), the Supreme Court of India addressed a critical Public Interest Litigation (PIL) concerning the rights and welfare of domestic workers.
On January 29, 2026, a bench comprising Chief Justice of India (CJI) Surya Kant and Justice Joymalya Bagchi delivered a significant observation regarding the limits of judicial intervention in labour policy and legislative matters.
Core Issues of the Case
The petition, filed by the women workers' union Penn Thozhilalargal Sangam, sought several reliefs for domestic workers—a group that remains one of the most vulnerable and unorganized sectors in India:
Minimum Wage Enforcement: A direction to the Centre and States to enforce a mandatory minimum wage for domestic workers.
Constitutional Recognition: A declaration that non-payment of minimum wages violates Articles 14 (Equality), 21 (Life and Liberty), and 23 (Prohibition of Forced Labour).
Legal Framework: The creation of a comprehensive statutory framework to regulate working conditions, registration, and social security for household help.
The Supreme Court's Decision
The Court refused to entertain the PIL, citing the principle of "separation of powers." Key highlights from the bench's reasoning include:
1. Limits on Judicial Mandate
The CJI noted that the reliefs sought were "legislative in nature." The Court clarified that it cannot issue a Writ of Mandamus directing the Parliament or State Legislatures to enact or amend specific laws.
2. Economic and Social Concerns
The bench expressed caution that judicial interference might lead to unintended negative consequences:
Hiring Reluctance: The Court worried that if strict minimum wages were enforced by judicial decree, many households might stop hiring help, leading to job losses.
Litigation Risks: The CJI remarked that over-zealous trade unions might "drag every household into litigation," turning homes into "battlefields."
3. State Responsibility
The Court observed that while some States have already included domestic workers under the Minimum Wages Act, others have not. It stated that the matter is under "active consideration" by several State governments and suggested that the petitioners should continue to lobby the executive branch rather than the judiciary.
Current Status
The petition was disposed of. The Supreme Court did not dismiss the "plight" of the workers but emphasized that the solution must come from the Legislature and the Executive.
While the Supreme Court in Penn Thozhilalargal Sangam vs. Union of India (2026) declined to force a national law, it highlighted that:
State Progress: Many states are already moving toward social security (e.g., Karnataka’s 2025 Draft Bill).
Registration Drives: States like Karnataka and Maharashtra have launched special drives (Jan–March 2026) to register these workers on the e-Shram portal to provide accidental insurance and pension benefits.
Note: Enforcement remains the biggest challenge. Unlike a factory, a "household" is a private space, making it difficult for labour inspectors to verify if minimum wages are actually being paid.
Outcome: The petitioners were encouraged to continue highlighting the issues to the relevant State and Union stakeholders, with the Court expressing hope that a "suitable mechanism" would be deployed for their welfare.
Subscribe to:
Comments (Atom)