City Delhi Financial News

Delhi High Court has upheld an order accepting cancellation report filed by the police in a complaint filed against BJP leader Syed Shahnawaz Hussain alleging rape and criminal intimidation. Justice Neena Bansal Krishna said there was no infirmity in the order passed by the additional sessions judge (ASJ) and dismissed the revision petition filed by the complainant challenging the December 2023 order. «In the present case, the overwhelming independent ocular, documentary and scientific evidence collected during the investigations, whereby the presence of the respondent no.2 (Hussain) and complainant on the date of the alleged incident at the place of alleged incident… is completely ruled out, the possibility of the commission of alleged offence is rendered zilch. »Hence, the conclusion of the ASJ in accepting the cancellation report has to be upheld. In view of the foregoing discussions, there is no infirmity in the impugned order dated December 16, 2023 and the revision petition is hereby dismissed," the high court said in the order which was passed on Friday and made available on Saturday.

In a bid to locate people still believed to be trapped beneath the debris in landslide-ravaged villages, deep search radars will be deployed in the affected areas, a Defence PRO said on Saturday. The Kerala government has requested the deployment of advanced radar equipment, including one Xaver radar and four Reeco radars, which will be airlifted from Delhi in an Indian Air Force (IAF) aircraft, along with their operators.

Manu Bhaker is on the brink of securing a historic third successive medal at the ongoing Paris Olympics. Bhaker has positioned herself as a top contender in the 25m sports pistol competition after finishing second in the qualifications with an impressive score of 590. Given her status as the reigning world champion in the 25m category, a third-medal finish appears highly likely. The athlete from Jhajjar, Haryana, has already claimed bronze medals in both the 10m air pistol and the 10m air pistol mixed team events, partnering with Sarabjot Singh.

BENGALURU : Goa’s appeal is now extending beyond holidaymakers and retirees. Real estate developers from across the country are gearing up to launch projects in the popular holiday destination, led by high demand from wealthy individuals and non-resident Indians. The launches lined up include luxury villas, apartments as well as plotted development projects.

Central Board of Indirect taxes and Customs has asked field officials to take into account its June 26 circular when considering matters about related party import of services by local entities, people familiar with the development said. The move could provide relief to Infosys and other tech companies facing the threat of massive goods and services tax (GST) demands. As per the circular, if a related domestic entity has not issued an invoice for a service provided by its foreign affiliate, the cost of such services is deemed to be nil. Such services would, therefore, not attract any GST. On July 30, Bengaluru-headquartered tech firm Infosys received a Rs 32,403 crore pre-show cause notice from the Directorate General of GST Intelligence (DGGI) for “non-payment of Integrated GST on import of services” from its foreign branches for the period July 2017, when GST was rolled out, to the FY22.

The heavy rain caused major flooding. Tilak Bridge and Vikas Marg, which leads to Laxmi Nagar, were both underwater. The police had to close Deen Dayal Upadhyay Marg to keep vehicles away from the flooded Minto Bridge. Trying to drive along Ring Road from Delhi Gate past Raj Ghat resulted in huge traffic jams. The situation was made worse by several vehicles breaking down. Two buses stalled after turning left from ITO onto Vikas Marg. Another bus was left abandoned near Delhi Gate, and two more buses broke down almost at the same time near Indira Gandhi Indoor Stadium. One of these buses blocked the left lane, while the other stopped in the main lane, leaving just one lane open for other cars. Waterlogging on the right side of the road also slowed traffic. Rukmani Gupta, who works in ITO, said, «As if this wasn't enough, waterlogging on the right side forced traffic to move extra slowly.»

Rau's IAS Study Circle has offered compensation of Rs 50 lakh each to the families of three UPSC aspirants who died after rainwater gushed inside the institute's basement in Old Rajinder Nagar last week. The institute announced the compensation on Thursday, five days after the incident occurred. «We are offering Rs 50 lakh compensation to the family of each student who has lost their lives. Half the money will be given now. While the remaining portion will be given once Abhishek Gupta, CEO of the organisation, comes out or within six months, whichever is earlier», Rau's IAS advocate Mohit Saraf told PTI videos. On July 27, three UPSC aspirants drowned in the basement library of Rau's coaching centre. The Delhi Police has arrested seven people in connection with the case, including Rau's CEO Abhishek Gupta and coordinator Deshpal Singh.

Telangana Chief Minister A Revanth Reddy on Friday said the state government would provide free electricity to about 30,000 government schools as part of measures to improve infrastructure facilities. Addressing a convention of teachers who have recently been promoted, he also said Delhi Chief Minister Arvind Kejriwal won elections thrice as he improved government schools and provided quality education to the poor. Observing that electricity supply is a sine qua non for imparting quality education in schools, including using computers, he said power supply was stopped by the energy department when electricity bills of schools were not paid, he said. «When (free power) is given to farmers and 200 units free (power) is provided to the poor, why cannot free electricity be provided in schools where Telangana's future is built. I gave directives to our government officials to provide free power to the 30,000 schools in Telangana. The state government will take that burden,» he said.

Delhi Police has sought information from the Maharashtra government, the IAS training academy in Mussoorie and AIIMS Delhi on former IAS prohibitionary officer Puja Khedkar in connection with a cheating and forgery case, sources said on Friday. Khedkar was booked by the Delhi Police Crime Branch on July 19 for wrongly availing OBC and PwD (person with disabilities) quota benefits to secure her candidature in the civil services exam. On Thursday, a Delhi court denied her anticipatory bail, saying there were serious allegations against her which «require a thorough investigation». Khedkar, who has not been arrested in the case, had approached the court through her lawyer, saying she faces «immediate threat of arrest».

civil services exam but was declared «temporarily unfit» to be a civil servant due to obesity, the Supreme Court came to his rescue on Friday by ordering the UPSC to conduct his medical examination afresh. The top court used its special powers under Article 142 of the Constitution, directing the Union Public Service Commission (UPSC) to conduct a fresh physical fitness test for Rakshit Shivam Prakash, who ranked 93 in the civil services exam held in 2014 but lost out due to «unacceptable» Body Mass Index (BMI). The BMI of the candidate was at 31.75, which is higher than the prescribed standard of 30. He was declared «temporarily unfit» and consequently, denied employment. He could not take part in the second medical test scheduled on July 14, 2015. Article 142 of the Constitution empowers the top court to pass «any decree or order necessary for doing complete justice in any case or matter pending before it».

White-collar hiring activity grew to 2877 points in July 2024, registering a 12% YoYincrease vs July 2023 and an 11% MoM sequential increase compared to June 2024, the latest edition the Naukri JobSpeak Index has revealed. Most sectors reported healthy double-digit growths, with Pharma/Biotech (26%), FMCG (26%), Real Estate (23%), and AI/ML (47%) leading the pack. However, some of the uptick could be attributed to an impacted base of July’23, which saw an atypical dip in Index value on account of the IT sector’s woes, a statement from the company said. The Pharma/Biotech sector recorded a substantial 26% YoY increase, with Baroda (61%) and Hyderabad (39%) driving the surge. Key roles within Pharma like Sales & Business Development and Procurement & Supply Chain saw a 42% rise in hiring. Similarly, hiring in FMCG sector grew by 26%, led by Bangalore (52%) and Kolkata (43%), with Marketing and Communication roles in FMCG experiencing a 57% increase. The Real Estate sector also demonstrated a strong 23% growth in hiring, largely influenced by Delhi-NCR (+51%) and Hyderabad (+28%).

Delhi High Court has appointed an arbitrator to resolve the dispute between PVR INOX and Ansal Plaza Mall in Greater Noida. PVR INOX claims that its four-screen multiplex at Ansal Plaza Mall was sealed due to unpaid government dues by the lessor, Sheetal Ansal. PVR INOX has filed a claim of approximately Rs 4.5 crore in the Delhi High Court, seeking arbitration to address the issue. In an order passed by Justice C Hari Shankar, he said, «Prima facie, an arbitrable dispute has arisen between the parties, which is amenable to arbitration in terms of the arbitration clause extracted. As the parties have not been able to come to a consensus regarding the arbitrator to arbitrate on the disputes, this Court has to intervene. Accordingly, this Court appoints the arbitrator to arbitrate on the disputes between the parties. Court noted that the Counsel for Respondent/lessor also be permitted for counter-claim to be agitated in the arbitration proceedings.»

Delhi government extensively mapped the city's utilities, creating a geospatial database that included both two-and three-dimensional information on underground and overground assets. Recently, the government has decided to modernise this infrastructure to provide more accurate data and integrated services using the latest technologies, reported The Times of India. This initiative will start with a pilot project covering Mehrauli, Masoodpur, and Rangpuri villages using high-resolution drone surveys. The original database operational since over a decade includes comprehensive spatial datasets covering drains, sewers, water pipes, power lines, buildings, and transport networks, among other utilities. This database was accessible over the web and widely used by various departments and stakeholders to solve planning issues ranging from bus routes to drainage and preventive health campaigns.

Sunil Dahiya, a South Asia analyst at CREA, said, “This ongoing issue highlights the need for stronger regulations and a focus on reducing emissions. Using better technology and data can help control pollution.” He added, “India’s standards are more lenient than WHO’s, which can lead to long-term exposure to harmful particles. Research shows that even short-term exposure to PM2.5 in India poses significant health risks, suggesting that air quality standards need to be updated to better align with international guidelines to prevent diseases.”

bail plea of an SUV driver, arrested for his alleged role in drowning of three civil services aspirants in the basement of a coaching centre. During the proceedings, the Delhi Police told the court that they have decided to drop harsher charge of culpable homicide not amounting to murder against Manuj Kathuria, the SUV driver. Additional Sessions Judge Rakesh Kumar was hearing an appeal against the denial of bail to Kathuria by a magisterial court on Wednesday. «The bail is allowed,» the judge said.

tomatoes at Rs 50 per kg in Delhi-NCR and Mumbai retail markets. This move aims to relieve consumers, following an initial reduction to Rs 60 per kg on July 29, announced by Union Food and Consumer Affairs Minister Pralhad Joshi. «Prices of tomatoes have come down after our intervention,» Joshi stated. This initiative was launched to address the soaring tomato prices caused by supply disruptions due to heat waves and erratic rains in various states.

Paras Healthcare, the Delhi NCR-based hospital chain has filed Draft Red Herring Prospectus (DRHP) with SEBI for ₹700 crore — ₹900 crore Initial Public Offering (IPO). The IPO comprises of a fresh issue of equity shares of up to ₹400 crores and an offer for sale (OFS) of up to 14,974,010 equity shares with face value of ₹1 each equity share.

IPL) owners meet, which was organised by the Board of Control for Cricket in India (BCCI), Delhi Capitals (DC) was against the impact player rule while Sunrisers Hyderabad was (SRH) in favour of seven retentions, according to ESPNcricinfo.

₹37,500 a night for a regular room, about 15-25% higher than its usual rates, Mint found in its research. Similarly, pool view suites at the plush ITC Grand Bharat in a remote corner of Gurugram in Delhi-NCR will start from ₹32,000 a night excluding tax, which is ₹8,000 higher than its usual rate.

Delhi's Old Rajinder Nagar, where three students died due to flooding in the basement of a coaching centre last week, was flooded again following a spell of heavy rain on Wednesday. Several videos surfaced of the flood-like situation in the stretch that is lined with many coaching centres.

coaching institutes in West Delhi and South Delhi zones making the total tally reach 35 since Sunday, according to civic body officials. The MCD on Wednesday sealed three basements of coaching institutes in West Delhi and two in South Delhi zones in action against establishments using the basements for commercial purposes.