The Ministry of Corporate Affairs (MCA) has taken several steps, including the withdrawal of prosecutions and compoundable cases, to reduce litigations under the companies law, Finance Minister Nirmala Sitharaman said Monday.

Sitharaman, also the Union Minister of Corporate Affairs, said in Lok Sabha that 14,247 prosecutions were withdrawn in the first special drive conducted in 2017 and a decision has also been taken for withdrawing 7,338 compoundable cases identified in the second special drive in 2023.

The Centre, on Monday, rejected the JD(U)’s request for ‘special category’ status for Bihar during the all-party meeting.

No new states are being awarded ‘special category’ status at present, as the Indian Constitution does not accommodate such classification.

A day before Budget 2024, Union Finance Minister Nirmala Sitharaman tables the Economic Survey in Lok Sabha. The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance.

What is the Economic Survey of India?

Mining conglomerate Vedanta Limited raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share, according to a stock exchange filing by the company.

The issue, which closed on July 19, implied a discount of 4.61 per cent to the floor price of Rs 461.26 per equity share.

The Haryana government on Sunday beefed up security and ordered suspension of mobile internet and the bulk SMS services in Nuh district for 24 hours ahead of the Braj Mandal Jalabhishek Yatra that was marred by violence last year.

Two home guards were killed and at least 15 others, including several policemen, injured on July 31 last year as a mob in Nuh tried to stop a Vishva Hindu Parishad procession, pelting stones and setting cars on fire.

The Lieutenant Governor's Office wrote to Chief Secretary Naresh Kumar on Saturday expressing concern over the reported non-consumption of the prescribed diet by Delhi CM Arvind Kejriwal in jail.

Citing a report from the prison Superintendent, the letter reads, The report brings out the fact that there are several instances of willful low-calorie intake by the Chief Minister, despite sufficient home-cooked food being provided to him.

Country’s largest private sector lender HDFC Bank on Saturday reported a 35 per cent year-on-year (Y-o-Y) growth in net profit at Rs 16,175 crore for the quarter ended June 2024 (Q1FY25), aided by healthy net interest income (NII) and lower provisions. Analysts at Bloomberg had estimated that the bank may post a net profit of Rs 15,652 crore.

However, sequentially net profit of the lender was down 2 per cent from Rs 16,511.85 crore in Q4FY24 due to lower income growth and higher tax expenses.

The newly elected BJP government has renamed Biju Patnaik Sports Award as Odisha Rajya Krida Samman'.

Odisha Sports and Youth Services Department on Friday issued guidelines for the Rajya Krida Samman' which will be awarded in eight categories annually, subject to availability of suitable candidates. The cash rewards remain unchanged.

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has acquired Norwegian firm Equinor's stake in an Azerbaijan oilfield and an associated pipeline for $60 million, the firm said in a statement.

OVL "has signed a definitive sale purchase agreement (SPA) for directly acquiring 0.615 per cent participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor.

In India, 1.19 million excess deaths occurred in 2020 during the Covid-19 pandemic, 17 per cent higher compared to 2019, an international study has found.

The estimate is about eight times higher than the official Covid-19 deaths in India, and 1.5 times the World Health Organization's estimates, researchers, including those from the University of Oxford, UK, said.

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