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FOUND: 7 - You Need To See This

‘Attack on free press, fishing exercise’: HC quashes PMLA case against NewsClick

The Delhi High Court has ruled that the Enforcement Directorate’s actions against independent digital news outlet NewsClick and its founder Prabir Purkayastha – stemming from a foreign direct investment case – constituted an abuse of power targeting free and impartial journalism. The court has quashed the money laundering case against…

Newslaundry

Is Public Service Enterprise Stock Underperforming the Dow?

Public Service Enterprise has lagged behind the Dow Jones over the past year, yet analysts remain somewhat bullish about the stock’s outlook.

Barchart

Is Consolidated Edison Stock Underperforming the S&P 500?

Consolidated Edison posted steady but slower gains. However, broader markets are outpacing it amid mixed performance and returns.

Barchart

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Delhi court directs confiscated PACL assets be used for investor repayment

A Special Court has ordered the confiscation of properties belonging to PACL Limited. These assets will now be handed over to the Justice RM Lodha Committee. The committee will use these properties to benefit investors affected by the PACL scheme. This action follows a money laundering investigation by the Enforcement…

The Economic Times

Two factions, two directions: TMC rebels face unprecedented political divide

The TMC is experiencing a significant split. A majority of its MLAs have formed a breakaway faction, vowing constructive opposition against the BJP in West Bengal. Simultaneously, a section of its Lok Sabha MPs have pledged allegiance to the BJP-led NDA. This creates an ideological incoherence within the party.

The Economic Times

Mamata Banerjee meets Sonia Gandhi amid rebellion in Trinamool Congress

Trinamool supremo Mamata Banerjee met senior Congress leader Sonia Gandhi. The meeting followed an INDIA bloc gathering and Trinamool's recent election defeat. Discussions focused on future party strategies. This comes amid internal Trinamool dissent and a move by some members to align with the NDA. The leaders shared a warm…

The Economic Times

CID reaches Mamata's Kalighat residence cum office in 'forged signature' probe

A CID team visited the TMC's central party office in Kolkata. This visit is part of an investigation into alleged forged signatures of MLAs. The controversy has caused a significant split within the party. The CID sought entry based on a statement by Abhishek Banerjee. Party leaders objected to the…

The Economic Times

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'You have ED, CBI, I have 'Maa, Maati, Maanush', my party': TMC's Kalyan Banerjee trains guns at BJP

Trinamool Congress MPs Kalyan Banerjee and Kirti Azad have responded to concerns about internal dissent. They assert the party's strength lies with the people of Bengal and its workers. Azad criticized leaders questioning the party post-election, calling them traitors. He stated that those wishing to join the BJP are free…

The Economic Times

Enforcement Directorate summons Pinarayi Vijayan's daughter for questioning in Prevention of Money Laundering Act case

The Enforcement Directorate has summoned Veena T, daughter of former Kerala Chief Minister Pinarayi Vijayan. She is to appear for questioning this week in a money laundering case. The investigation involves a sand mining company and Veena's former company. Allegations concern fraudulent payments for consultancy services. The agency is recording…

The Economic Times

Zepto IPO: ED summons founders in FEMA matter, seeks shareholding, business details

The Enforcement Directorate sought details on foreign investments and overseas investments, audited balance sheets since FY21, owned immovable properties, shareholding pattern, loans and guarantees, income tax returns, bank accounts, and a note on Zepto’s business model, according to the updated prospectus.

The Economic Times

ED summoned Zepto founders under FEMA ahead of IPO: Here’s what the updated DRHP reveals

Quick commerce platform Zepto disclosed that its founders, Aadit Palicha and Kaivalya Vohra, were summoned by the Enforcement Directorate (ED) in April 2026 concerning FEMA. The founders provided requested documents related to foreign investments and business operations. Zepto is proceeding with its $1 billion IPO, aiming for a July listing.

The Economic Times

5,300 of 36,000 Indian SIMs used in Cambodia for Rs 100-crore cyber fraud in India

Enforcement Directorate uncovered a massive cyber fraud network. Thousands of Indian SIM cards were activated fraudulently. These SIMs were then used from Cambodia to commit financial crimes across India. The agency has identified key individuals involved in this operation. Searches have been conducted, leading to the seizure of bank accounts…

The Economic Times

Court allows ED access to SFIO documents in CMRL-Exalogic money laundering case

A court has granted the Enforcement Directorate access to documents from the Serious Fraud Investigation Office. These documents are crucial for a money laundering investigation involving CMRL and Veena T. The ED is examining transactions that could be proceeds of crime.

The Economic Times

PIL in Supreme Court alleges Rs 1,500 cr banking fraud, seeks court-monitored probe

A PIL has been filed in the Supreme Court. It seeks a court-monitored investigation into alleged banking frauds. The case involves asset reconstruction companies, public sector banks, and a Noida-based infrastructure firm. The plea highlights a forensic audit report. This report identified suspicious transactions related to a Rs 912 crore…

The Economic Times

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The Economic Times

Tata Steel says UK plant's low-emission project facing delays in securing electricity access

Tata Steel's significant UK project for low-carbon steel production is facing delays. The company is experiencing a setback of six to eight months in its timeline. This is due to challenges in securing necessary electricity access for the new electric arc furnace.

The Economic Times

ED's Parimatch heat reaches Zepto; SPC's India deeptech push

Zepto has come under the ED's scanner as part of its probe into Parimatch. This and more in today's ETtech Top 5.

Newslaundry

After the poll debacle, the revolt: How Mamata is losing control of her TMC

“In nightmares and terror, you protected me on your lap, you affectionate mother…” Ritabrata Banerjee was passionately reciting the full version of Rabindranath Tagore's Jana Gana Mana on March 9 when Mamata Banerjee abruptly cut him short.

The Economic Times

Hindustan Zinc shares tumble 5% to 6-week low after report of govt's plan to sell 2% stake for Rs 5,000 crore

Hindustan Zinc shares fell sharply on Friday after a report said the government may sell up to a 2% stake in the company to raise around Rs 5,000 crore. The proposed divestment comes amid broader disinvestment efforts, with recent stake sales in Coal India and NHPC.

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The Economic Times

Stocks in news: Tata Steel, ICICI Bank, Tata Motors, Vedanta, Maruti Suzuki

Indian markets traded cautiously on Thursday's weekly expiry, with analysts observing a continued tussle for direction in the Nifty. Key companies like Tata Steel, Tata Motors, ICICI Bank, Vedanta, and Maruti Suzuki are in focus due to significant business updates and regulatory developments.

The Economic Times

FEMA case against Myntra closed following compounding: ED

Myntra's foreign exchange violation probe has concluded after the RBI issued a compounding order. The Enforcement Directorate gave its no objection, allowing the e-commerce platform to settle alleged FEMA contraventions involving over Rs 45 crore with a one-time payment of Rs 2.88 lakh. This move aligns with the government's 'ease…

The Economic Times

RBI clears Myntra's FEMA violations after penalty payment; ED closes investigation

The Reserve Bank of India has closed an Enforcement Directorate investigation into Myntra Designs Private Limited. This action follows the RBI compounding certain Foreign Exchange Management Act violations. The company faced allegations of delays in submitting overseas investment reports and undertaking commitments before compliance. The RBI imposed a one-time monetary…

The Economic Times

Vedanta says no penalty, restrictions imposed after ED searches

India's financial crime-fighting agency searched Vedanta group locations. The company stated no penalty or restriction has been imposed. Vedanta is cooperating with the foreign exchange law probe. Operations and financial activities remain unaffected. The searches were conducted in connection with a probe.

The Economic Times

Vedanta group's iron ore mining, steel biz cut 2.5 MT of carbon emissions in last 5 yrs

Vedanta's iron ore and steel business has significantly cut carbon emissions. Over five years, nearly 2.5 million tonnes of emissions were reduced, avoided, or sequestered. Initiatives include electric vehicles, sustainable logistics, waste heat recovery power, and extensive tree plantation drives. These efforts align with national and global climate goals, showcasing…

The Economic Times

ED summons TMC's Abhishek Banerjee in primary school recruitment case on June 15

The Enforcement Directorate has summoned Trinamool Congress MP Abhishek Banerjee. He is asked to appear on June 15 regarding the primary school recruitment irregularities case. The agency is investigating suspicious transactions linked to a company associated with Banerjee. This probe is part of a larger investigation into fraudulent appointments and…

The Economic Times

Jacqueline Fernandez, Sukesh Chandrashekar among 17 charged in Rs 200-crore money laundering case

A Delhi court has formally framed charges against actor Jacqueline Fernandez, alleged conman Sukesh Chandrashekar, and 17 others in a Rs 200-crore money laundering case. In a separate case, Chandrashekar and 20 others face charges, including under the stringent MCOCA provisions, for impersonation and extortion. All accused pleaded not guilty…

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