CCPA Imposes ₹5 Lakh Penalty On PhysicsWallah For Employing Dark Patterns On Its Platform

Holding that PhysicsWallah employed dark patterns in violation of consumer protection norms, the Central Consumer Protection Authority (CCPA) has imposed a ₹5 lakh penalty on the ed-tech platform over its donation and data-collection practices. A coram of Chief Commissioner Nidhi Khare and Commissioner Anupam Mishra passed the order in a suo motu case against PhysicsWallah over alleged unfair trade practices, misleading advertisements, and violations of consumer rights on its website and mobile...

Centre Mandates DGFT Import Authorisation For Specified Silver Imports

The Central Government has tightened import policy conditions for specified silver products by mandating that imports of such items be backed by a valid Import Authorisation issued by the Directorate General of Foreign Trade (DGFT). The change was notified by the DGFT on June 2 and takes effect immediately. The revised conditions apply to silver powder, silver grains, silver containing 99.9 per cent or more by weight, and certain other forms of unwrought silver classified under Chapter 71 of...

Centre Temporarily Waives Customs Duty On Cotton Imports Till October 31

The Centre on Saturday temporarily waived customs duty and Agriculture Infrastructure and Development Cess (AIDC) on cotton imports for a five-month period beginning June 1, 2026. A notification issued by the Department of Revenue said cotton falling under tariff heading 5201 of the First Schedule to the Customs Tariff Act, 1975, will be exempt from the whole of the customs duty leviable under the tariff schedule as well as the whole of the AIDC. The exemption will take effect from June 1,...

RBI Imposes ₹3.1 Lakh Penalty on CreditAccess Grameen Over KYC Violations

The Reserve Bank of India (RBI) on Friday imposed a penalty of ₹3.10 lakh on CreditAccess Grameen Limited for violating certain Know Your Customer (KYC) norms. RBI found that the company had not put in place a robust software system that could automatically flag transactions that were inconsistent with customers' risk profiles and updated records, a key requirement for identifying and reporting suspicious transactions. The regulator clarified that the penalty relates only to shortcomings in...

MCA Amends Rules To Allow Companies To Undertake CSR Through Social Stock Exchange Instruments

The Ministry of Corporate Affairs (MCA) has notified amendments to the Corporate Social Responsibility (CSR) Rules allowing companies to carry out CSR activities through zero-coupon, zero-principal instruments issued by not-for-profit organisations registered with the Social Stock Exchange segment of a recognised stock exchange. Under the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2026, which came into force on May 27, expenditure incurred on such instruments cannot...

Singapore Court Sentences Byju Raveendran To Six Months In Jail For Contempt

A Singapore court has sentenced Byju Raveendran, founder of insolvent edtech firm Byju's, to six months' imprisonment for contempt of court over alleged non-compliance with directions concerning disclosure and handling of assets linked to Beeaar Investco and other group entities, Bloomberg reported.The court also directed Raveendran to surrender to the authorities, pay costs of S$90,000 (about US$70,500), and produce documents establishing his legal ownership of Beeaar Investco, an entity said...

RBI Mandates 3-Year Cooling-Off For Co-Operative Bank Directors After 10-Year Continuous Tenure

The Reserve Bank of India has introduced a mandatory three-year cooling-off period for directors of urban and rural co-operative banks after they complete 10 years of continuous tenure on the board of the same bank, seeking to prevent directors from briefly stepping down and returning to circumvent tenure limits. The amendment directions, issued on May 25 by Chief General Manager Scenta Joy, came into force with immediate effect. “In a few cases, directors have been found to be resorting to...

CCI Approves Tata International Singapore-Mercuria Joint Venture For Global Commodities Trading

The Competition Commission of India on Tuesday approved the proposed formation of a joint venture company between Mercuria Energy Netherlands B.V., a subsidiary of Mercuria Energy Group Limited, and Tata International Singapore (Pte) Ltd (TISPL).According to a press release issued by the Commission, the transaction involves Mercuria and TISPL entering into an agreement to establish a joint venture company in the Dubai International Financial Centre, United Arab Emirates, along with certain...

Centre Notifies Key IBC Amendment Provisions, Operationalises Creditor-Initiated Insolvency Resolution Process

The Centre has operationalised the new creditor-initiated insolvency resolution process (CIIRP), opening the door for specified financial creditors to directly trigger insolvency proceedings against eligible companies, after bringing key provisions of the Insolvency and Bankruptcy Code (Amendment) Act, 2026 into force from May 26. The notified provisions also reshape the liquidation framework, allow stalled insolvency resolution processes to be revived before a liquidation order is passed,...

Trademark Applications Filed For 'Cockroach Janta Party' As Satirical Movement Goes Viral

Two trademark applications have been filed for “Cockroach Janta Party,” the satirical political movement born out of viral remarks by the Chief Justice of India, before the Indian trademark registry. However, the applications were not filed by Abhijeet Dipke, the former social media strategist who launched the movement. The Cockroach Janta Party was launched on May 16 as a direct satirical response to remarks made a day earlier in the Supreme Court. The controversy traces back to May 15, 2026,...

MP Sudheer Gupta To Head Joint Parliamentary Committee On Corporate Laws (Amendment) Bill

Lok Sabha Speaker Om Birla on Monday constituted a 31-member Joint Parliamentary Committee to examine the Corporate Laws (Amendment) Bill, 2026, appointing BJP MP Sudheer Gupta as its chairperson. The committee comprises 21 members from Lok Sabha and 10 members from Rajya Sabha.The Bill was introduced in the Lok Sabha by Finance and Corporate Affairs Minister Nirmala Sitharaman on March 23, 2026 and was subsequently referred by the Speaker to the JPC for clause by clause examination, stakeholder...

Adani Enterprises To Pay $275 Million To Settle US Sanctions Probe Over Alleged Iranian LPG Imports

Adani Enterprises Limited (AEL) on Monday agreed to pay $275 million to settle potential civil liability with the United States Treasury Department's Office of Foreign Assets Control (OFAC) over apparent violations of Iran-related sanctions linked to imports of liquefied petroleum gas (LPG). According to OFAC, between November 2023 and June 2025, AEL purchased 35 cargoes of Iranian-origin LPG through a Dubai-based supplier that purported to supply Omani and Iraqi gas, while causing US financial...