Indian regulator SEBI's probe faults Adani group on disclosure rules
An investigation of India's Adani group by the market regulator has uncovered violations of rules on disclosures by listed entities and limits on the holdings of offshore funds. News agency has been told that the violations have been characterisedas being of a technical nature that would attract no more than a monetary penalty once the investigation is complete, however. Key Points
Economic TimesSetback for Vedanta: SC says Sterlite Copper's Tuticorin plan to remain shut due to 'repeated violations'
The Supreme Court upheld the closure of Vedanta's Sterlite Copper Tuticorin plant, dismissing the appeal to reopen it. The court cited repeated violations justifying the closure and emphasized the need for clarity in specifying violations. The plant faced closure in 2018 following protests against pollution, leading to casualties. Vedanta's appeal to reopen was previously allowed under local-level monitoring committee supervision. Key Points
Economic TimesBengaluru's Most Wanted: Why police are hunting for a TVS Scooty Pep+
Bengaluru police are on the lookout for a TVS Scooty Pep+ that holds a record-breaking 634 traffic violations, accumulating a hefty penalty of Rs 3.2 lakh. The scooter, captured on surveillance at Taralabalu junction, was registered to a woman in Ganganagar, but the offender is presumed to be a male relative. Key Points
Economic TimesAir India fined Rs 1.10 crore by regulator for safety violations
Air India has been fined Rs 1.10 crore for safety violations by India's aviation regulator Directorate General of Civil Aviation (DGCA). Key Points
India TodayAir India fined ₹1.10 crore by DGCA for safety violations
₹1.10 crore fine on Air India: DGCA said safety violations took place on certain long-range terrain critical routes of Air India. | Latest News India Key Points
Hindustan Times
Not paid traffic challans yet? You will be blocked. Read to know more
The transport department in India has decided to block individuals with more than five pending traffic challans from conducting certain online vehicle-related tasks through the Vahan portal. This move aims to curb the practice of ignoring traffic fines. Authorities have noted that over 20,000 vehicles have accumulated over 100 violations each without settling the fines. Key Points
Economic TimesOver 5,000 multi-storey illegal flats found in Ghaziabad, large-scale demolition planned
An independent survey commissioned by the Meerut divisional commissioner to uncover illegal constructions within Vasundhara township in Ghaziabad found over 5,000 multi-storey buildings on single-use plots. While the state government prepares to take appropriate action, the violations highlight potential laxity on the part of UP Housing Board officials and developers. Key Points
Economic TimesX manually reviewing users' direct messages, Musk has no clear answer
In a worrying trend, Elon Musk-owned X is manually reviewing certain users' direct messages (DMs) to investigate reported violations and misuse of its... Key Points
The Tribune IndiaED raids Hiranandani group over alleged FEMA violations
The Enforcement Directorate (ED) has conducted searches on properties linked to Mumbai-based real estate developer Hiranandani Group as part of an investigation into alleged forex violations. The searches were carried out at five locations in Mumbai and adjoining areas. The probe is related to investments in a trust based in a tax haven, where the promoter and his family members are alleged beneficiaries. Key Points
Economic TimesGerman law on forced labour in global biz supply chains to have little impact on India's trade: GTRI
Germany has banned forced labour and other labour law violations in its supply chains extending within and outside Germany. The law called the Supply Chain Due Diligence Act (SCDDA), came into effect on January 1 this year. It applies to firms with more than 3,000 employees. These include German firms and foreign firms doing business with Germany. Key Points
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U.S. prosecutors probe ex-FTX executive Salame for campaign finance violations, Wall Street Journal reports
Former FTX cryptocurrency exchange executive Ryan Salame is under investigation by federal prosecutors for possible violations of campaign finance law, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Key Points
ReutersIndian-American man sues boat captain for his wife's death while parasailing
In September last year, the boat's captain was charged with manslaughter and multiple boating violations. He has pleaded not guilty. | World News Key Points
Hindustan TimesSebi cracks down on ‘pump & dump’ schemes, slaps Rs 5.7 crore penalty on 3 entities
It has imposed a penalty of twice the amount made in unlawful gains — Rs 5.68 crore 56.85 million — on three entities, and Rs 5 lakh on the remaining three for violations on their part. Key Points
FinancialexpressCCI gets powers to penalise tech firms based on global turnover
The Competition (Amendment) Bill, 2022 seeks to capture deals happening in global digital companies, provided the entities involved have a strong business presence in India. Any such deals where the value exceeds Rs 2,000 crore will need to be notified to the Competition Commission of India (CCI). Key Points
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