India’s FIU Registers PayPal Under Anti-Money Laundering Law
PayPal, the American online payments gateway service provider, has finally registered its operations with the Financial Intelligence Unit of India (FIU-IND), in compliance with the Prevention of Money Laundering Act (PMLA) and the Reserve Bank of India’s (RBI) recent regulatory framework governing cross-border payment aggregators (PA-CB) . This comes after a protracted legal battle between […]
Tech Mahindra 100% Acquisition of Orchid Cybertech for $3.27M
Tech Mahindra, one of the leading IT services companies in India, has announced that it has acquired 100% stake in Orchid Cybertech Services Inc (OCSI), a Philippines-based customer experience firm, for USD 3.27 million (over Rs 27 crore) in an all-cash deal. The acquisition will strengthen Tech Mahindra’s relationship with TPG Telecom, a major Australian […]
Mitsubishi Acquires 30% of TVS Mobility’s New Entity
Mitsubishi Corporation, the Japanese conglomerate, has entered into a strategic partnership with TVS Mobility, one of India’s leading automobile dealerships, to acquire 30% stake in its new entity, TVS Vehicle Mobility Solution Ltd (TVS VMS). The deal was announced on February 19, 2024, and is expected to close by March 31, 2024. TVS VMS is […]
Sony Joins Prime Video to Launch Stream in India
Sony Pictures Entertainment has partnered with Prime Video India to launch a new OTT service called Sony Pictures – Stream. The service will offer international movies, popular TV shows, and content from SonyLIV and Crunchyroll India on Prime Video Channels. The service is available at an introductory price of Rs 399 per year. Sony Pictures […]
IEPFA and DBS Bank: MoU against Investment Fraud
Investment fraud is a serious threat to the financial well-being of millions of investors in India. To combat this menace, the Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs (MCA) has joined hands with DBS Bank, a leading financial institution in Asia and Southeast Asia, to spread awareness on investment […]
Mehul Choksi’s Gitanjali Gems liquidation: NCLT
The National Company Law Tribunal (NCLT) has ordered the liquidation of Gitanjali Gems, a jewellery retailer promoted by absconding diamantaire Mehul Choksi, under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016). The order was pronounced on February 7, 2024, by a division bench consisting of Judicial Member Kuldip Kumar Kareer and Technical […]
UIDAI Confirms: No Aadhaar Number Cancelled
UIDAI, the Unique Identification Authority of India, has issued a clarification that no Aadhaar number has been cancelled and that it is updating the Aadhaar database to maintain its accuracy. The statement comes amid allegations by West Bengal Chief Minister Mamata Banerjee that the BJP-led central government has deactivated Aadhaar cards of people in the […]
TN-SHORE : Blue Economy and Coastal Restoration
Tamil Nadu is one of the coastal states of India, with a coastline of 1,076 km, spanning 14 districts. The state has rich and diverse coastal ecosystems, such as mangroves, coral reefs, salt marshes, beaches and islands, that provide various ecosystem services and support the livelihoods of millions of people. However, these ecosystems are under […]
C&D Waste Disposal: Govt’s Comprehensive Guidelines Released
The government of India has released comprehensive guidelines for effective disposal of construction and demolition (C&D) waste in the country. The guidelines were announced at the National Workshop on “Recent Development with recycling and use of C&D waste in construction sector” held on 19th February 2024. The workshop was inaugurated by Shri Hardeep Singh Puri, […]
NITI Aayog Proposes Tax Reforms, Savings, Elderly Housing
NITI Aayog, the government think tank, has proposed a series of reforms to enhance the quality of life and well-being of the elderly population in India, which is projected to reach 19.5 per cent of the country’s population by 2050. In a report titled ‘Senior Care Reforms in India – Reimagining the Senior Care Paradigm’, […]