City Delhi Financial News

Also read: Slum dwellers evacuated as Yamuna crosses danger mark in Delhi after rains The India Meteorological Department (IMD) issued an 'orange alert' for Delhi. The water level of the Yamuna River has surpassed the danger mark of 205.33 meters. The incessant rainfall in Delhi and the surrounding regions has caused the river to rise significantly.

weather forecast predicts light to moderate rainfall with isolated heavy to very heavy rainfall in Uttarakhand over the next five days and in Uttar Pradesh over the next two days. Himachal Pradesh, Punjab, Haryana, and Chandigarh are expected to experience a significant reduction in rainfall from Tuesday, July 11, 2023, according to the weather department, reported Economic Times.

Bhushan Steel in 2018, has challenged the Delhi High Court order regarding an avoidance application in the Supreme Court. The division bench stated that Tata Steel cannot benefit from the amounts received, and those benefits of about Rs 1,000 crore should be appropriated to the creditors, according to two lawyers aware of the development. Tata Steel is challenging the January 13 order where the Delhi High Court directed the National Company Law Tribunal (NCLT) to proceed with the hearing of the avoidance application but said the amount recovered can be distributed amongst the secured creditors in accordance with law as determined by the NCLT. The Supreme Court’s decision in this case will have significant implications for the resolution process and the treatment of avoidance transactions in insolvency cases including Srei, which is undergoing in-court restructuring and has reported fraudulent transactions of Rs 13,000 crore. According to a report by the Insolvency and Bankruptcy Board of India, 777 applications regarding avoidance transactions worth Rs 2.2 lakh crore have been filed with insolvency tribunals at various levels until March 2022. The Supreme Court heard the matter on Friday and the next hearing could be after 6-8 weeks, a lawyer said. A Tata Steel spokesperson said that the company has filed a special leave petition (SLP) before the Supreme Court against the Delhi High Court judgment dated January 13, 2023. The said SLP was listed before Supreme Court on July 7, 2023.

Enforcement Directorate to share information with the GST network, sparking outrage in the Opposition ranks. Leading politicians including Delhi CM Arvind Kejriwal have claimed that the amendment could also affect traders paying taxes. Officials however insisted that the Prevention of Money Laundering Act had no connection with the GST rules.

climate change. However, over the years, the heavy rain days have been rising while rainy days are declining—leading to a skewed distribution—due to climate change. Further, the IMD said that predicting the severity of an extreme rainfall is difficult.

Supreme Court Tuesday upheld the validity of two central laws and the corresponding rules that provide for a maximum tenure of five years for the directors of the CBI and Enforcement Directorate. A bench of Justices BR Gavai, Vikram Nath and Sanjay Karol rejected the contention of the petitioners, including some leaders of the Congress and TMC, that the amendments made to the Acts will be used as «carrot and stick» by the government of the day to ensure that the chiefs of the two central probe agencies work according to its wishes.

Arvind Kejriwal government in the national capital to help them tide over the crisis. Kiran, in her mid-30s, whose family had a small farm in the floodplain, said, all of it got destroyed in the flooding, and her family members had to rush out to safety in the early hours of Tuesday, reported PTI. "All our vegetables have been destroyed in the flooding.

Home Minister Amit Shah lashed out at ‘delusional’ critics who had been cheering a recent Supreme Court verdict about Enforcement Director SK Mishra's tenure. The top official is likely to retire at the end of July this year after SC dubbed a third extension illegal on Tuesday.

DDA said flats at Dwarka under the scheme have been completely sold out, and flats at Narela and Rohini were receiving «heavy demand» from the public. The DDA on June 30 had launched on a first-come, first-serve (FCFS) basis a housing scheme that includes 5,500 flats across all categories at various locations in Delhi. Booking of flats commenced from 12 noon onwards on July 10.

Ultimate Table Tennis (UTT) has onboarded IndianOil as its title sponsor for season 4 scheduled to take place at the Shiv Chhatrapati Sports Complex, Mahalunge-Balewadi in Pune from July 13-30, 2023.

GST Council meeting started on Tuesday and is likely to deliberate on a host of issues including taxation of online gaming, definition of utility vehicles and tightening of norms for registration and claiming of ITC. At the beginning of the meeting taking place in the national capital, Finance Minister Nirmala Sitharaman released a short film titled 'GST Council — 50 steps towards a journey'.

Leena Maria Paulose, wife of conman Sukesh Chandrasekhar in a Rs 200 crore extortion case registered by the Economic Offence Wing (EOW) of Delhi Police. The Court also dismissed the bail petitions of two accused Kamlesh Kothari and B Mohan Raj in the same case. Sukesh Chandrasekhar, Leena Maria Paulose and others are presently in judicial custody since last year in the case for allegedly duping Aditi Singh, wife of the former promoter of Ranbaxy, Shivinder Singh, of Rs 200 crore.

He also added that lack of planning for fewer sewer lines, drainage and water harvesting are also major reasons behind waterlogging in Delhi. “Waterlogging has become a yearly ritual.

₹200 crore extortion case registered by the Economic Offence Wing (EOW) of Delhi Police.  In addition, the court also dismissed the bail petitions of two accused Kamlesh Kothari and B Mohan Raj in the same case, according to the news agency ANI.  Sukesh Chandrasekhar, Leena Maria Paulose and others are presently in judicial custody since last year in the case for allegedly duping Aditi Singh, wife of the former promoter of Ranbaxy, Shivinder Singh, of ₹200 crore. Justice Dinesh Kumar Sharma on Tuesday dismissed all three bail petitions filed in the matter.

Sharad Pawar's frequent flip-flops in his political dealings as the reason for leaving the side of NCP's patriarch. Bhujbal claimed 45 of the 53 NCP MLAs have gone with Ajit Pawar and said, "What would have I done by remaining outside." In an interaction with media, Bhujbal said Sharad Pawar announced support to the BJP in 2014 after it formed government following the Assembly polls without the Shiv Sena's backing. "That time I wondered and said we are in the Opposition.

Yamuna river. Earlier in the day, Traffic was affected on NH-48 in the carriageway from Gurugram towards Delhi due to overturned a truck near Dwarka link road cut, however, later the police said that truck has been removed.

Clensta International has raised Rs 75 crore in its pre-Series funding, led by TradeCred and the Royal Family of the UAE, a top company executive told ET. The executive added that the Export-Import Bank of India (EXIM Bank), Mumbai Angels, Keiretsu, LetsVenture and O2 VC Fund were among the investors who took part in the funding round. The funding includes a mix of debt and equity.

Allegations 1: “I was out for dinner in the hotel restaurant, the accused (Singh) called me to his dinner table… placed his hand on my breast, groped me and then slid his hand down to my stomach… repeatedly for 3-4 times … In the WFI office … he started touching me inappropriately on my palm, knee, thighs, and shoulders without my consent… he put his hand on my breast and slid it down my stomach on the pretext of checking my breathing". Allegation 2: “I was lying down on the mat, and the accused to my shock and surprise… without seeking my permission pulled up my T-shirt, placed his hand on my breast, and slid it down my stomach on the pretext of checking my breathing….

old Yamuna bridge in the national capital has been temporarily suspended as the water level crossed the danger mark in the Yamuna due to heavy downpours over the past few days. 2) According to the Flood Control Department, around 2,15,677 cusecs water was discharged through the Hathnikund barrage at 3 pm on Monday. 3) In a press conference on Monday, Delhi Chief Minister Arvind Kejriwal had said a flood-like situation is unlikely in the national capital, but the city government is prepared to tackle any eventuality.  4) An official from East Delhi district informed that the evacuation process began on Monday night after floodwaters entered some areas.

Arvind Kejriwal had said, “As per CWC, Yamuna river is expected to reach 205.5 meters tomorrow (Tuesday) morning. Also, according to weather predictions, the water level in Yamuna is not expected to rise too high." However, he had said, "if Yamuna crosses the 206 mtr mark, then we will start evacuation along the banks of the river."  While addressing the press conference, Kejriwal had said that a flood-like situation is unlikely in Delhi, but the city government is prepared to tackle any eventuality.

Yamuna River touched 206. 24 meters, slightly above the danger mark of 205.33 meteres, Central Water Commission said on Tuesday. The oficials further informed that the high flood level is--207.49 meteres.