The Hindu National
์ง๋ณด ์ฑํฅ
์ ์น
Trinamool Congress moves Calcutta HC over LoP row
The decision comes days after 58 MLAs floated a rebel bloc led by expelled MLA Ritabrata Banerjee who was recognised by the Speaker as Leader of the Opposition
๐ฎ๐ณ ์ธ๋ ยท "RECOGNISED" ยท ์ด 17๊ฑด
ํํฐ ๋ณด๊ธฐํ์ฌ ์ง์
48.0
0 = ๋ถ์ ์ฐ์ธ
50 = ์ค๋ฆฝ
100 = ๊ธ์ ์ฐ์ธ
์ต๊ทผ 7์ผ ๊ธฐ์ค 5,261๊ฑด์ ๋ถ์ํ ๊ฒฐ๊ณผ, ๋ด์ค ์ฌ๋ฆฌ์ง์๋ 48.0(๊ท ํ)์ ๋๋ค. ๊ธ์ 494๊ฑด(9.4%)ยท์ค๋ฆฝ 3,547๊ฑด(67.4%)ยท๋ถ์ 1,220๊ฑด(23.2%)์ด๋ฉฐ, ์ค๋ฆฝ ๋น์ค์ด ๋๋ ทํ๊ฒ ๋์ต๋๋ค. ์ฑํฅ ์ง์๋ ์ข ํฉ 12.9(์ค๋ ๊ท ํ)์ ๋๋ค.
The decision comes days after 58 MLAs floated a rebel bloc led by expelled MLA Ritabrata Banerjee who was recognised by the Speaker as Leader of the Opposition
India's booming micro-drama industry is giving rise to a new category of performers calling themselves "vertical actors", as short-form storytelling platforms emerge as an alternative to television and streaming services.Actors, producers, and app founders told ET that emotionally charged performances, stronger roles, rapid audience recognition, and the ability to build dedicated fan bases are drawing talent to the format.Established vertical actors typically work on at least three series a month, earning Rs 1-3.5 lakh per project, giving financial security in addition to the recognition, according to producers. Industry executives expect the trend to create bona fide "vertical stars" whose fame is built largely through micro-dramas consumed on mobile phones in portrait mode.One of the key aspects that differentiates a vertical actor from performers in other storytelling formats is the pace, according to micro-drama directors and actors.โVertical actors are defined by their ability to work at a fast pace,โ said Samay Bhattacharya, a director who has helmed four micro-drama series. โThey have to understand characters quickly and deliver spontaneous performances under tight production schedules.โTypically, a micro-drama series comprising 50 episodesโeach less than two minutes longโis shot at a brisk pace in fewer than 10 days.โI compare acting across different forms of storytelling to driving,โ said actor Karanvir Bohra, a major draw in the Indian micro-drama space. โFilms are first gear, while television and web series are second and third gear. Then comes content creation in fourth gear. Finally, vertical acting or storytelling is the highest gear. It demands the best performance and impact in the shortest possible time.โVertical actors said the format has provided them with much-needed recognition despite spending decades in the industry.โThe use of close-ups, melodramatic performances, strong cliffhangers, diverse plots and relatively better roles than television in vertical content has brought significant recognition to actors like me,โ said actor Piyush Sahdev. โDespite working for more than 25 years across mediums, today I am easily recognised for my micro-drama series The Secret Khiladi.โโMicro-dramas are reviving the careers of many actors. The careers of actors such as Asmit Patel, Omkar Kapoor and Kunal Kapoor have been revitalised,โ said Vicky Bahri, producer and founder & CEO of KLIP, a micro-drama app. โIn the future, I foresee bona fide โvertical starsโ known for their micro-drama work, given the high viewership numbers.โVertical actors also view micro-dramas as a way to build an audience base for their work in longer storytelling formats.โMicro-drama content reaches pan-India audiences,โ said actor Rajniesh Duggal, known for his debut film 1920. โBy working as a vertical actor, I am building my own audience base. This very audience will come to watch my films in theatres. This is one of my chief motivations."
The shares of IDFC First Bank fell nearly 1% on Monday morning after the Central Bureau of Investigation (CBI) conducted searches in six locations, while the private lender announced that it has received the forensic review report from KPMG regarding the fraud case worth Rs 646 crore at one of its branches in Chandigarh.CBI conducted searches at six locations in Chandigarh, Panchkula and Delhi-NCR in connection with the alleged fraud case involving the siphoning of government funds from departments of the Haryana government and the Chandigarh administration.The searches were held on Friday at premises linked to senior Haryana cadre public servants and Noida-based Vipam Consultancy Pvt Ltd and its director as part of an ongoing probe into the alleged misappropriation of funds parked with IDFC First Bank and AU Finance Bank, an official statement said.Also Read | CBI conducts searches in Rs 661 crore IDFC First Bank-AU Finance Bank fraud case"During investigation evidences have surfaced suggesting that the public servants had colluded with bank officials and had facilitated in opening of accounts, transfer of funds and subsequent diversion thereof," the statement said.KPMG's forensic reviewIn an exchange filing released in the post-market hours of Friday, IDFC First Bank said that KPMG's review reaffirmed that the incident arose from collusion involving certain employees or former staff at the branch, some state government employees along with certain third parties. It reiterated that the net principal amount of Rs 646 crore was reported as part of the alleged fraud case.Also Read | IDFC First Bank fraud was isolated case involving collusion, says KPMGโThe Bank paid the aforesaid amount and applicable interest to the concerned departments and has recognised the same in the books of accounts in Q4 FY26. The Bank is a victim of this financial fraud and is working with investigative authorities,โ IDFC First Bank said.Fraud at IDFC First Bank's Chandigarh branchIDFC First Bank had announced that it has discovered an incident of alleged fraud by some employees at one of its Chandigarh branches in February, involving accounts related to the Haryana government. The lender had received a request from one of the departments of the Haryana government to close its account and transfer funds to another bank. While reviewing the request, it found some discrepancies in the amount mentioned against the balance in the account. This led to a massive 16% crash in the private lenderโs share price, to record its worst single-day plunge since March 2020.IDFC First Bank share priceIDFC First Bank shares fell nearly 1% to trade at Rs 71.64 apiece on Monday. The stock is down 16% in 2026 so far. The shares of the company have however gained over 1% in the past one week. The company currently has a market capitalisation of nearly Rs 62,000 crore.Also Read | Why is market crashing today? 7 factors behind selloff(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The actor-turned-politican is slated to star in an upcoming film highlighting the unrecognised work of nurses and healthcare staff.
The concerns emerged following a meeting of the rebel legislature bloc led by Ritabrata Banerjee, who was recently recognised as the Leader of Opposition.
Mumbai: It is India's fourth biggest company by revenue, but the managing director of precious metals trader Rajesh Exports (REL) apparently doesn't know how and from where it gets the biggest chunk of the revenue, show the findings of a regulatory investigation.In its investigation report, the Securities and Exchange Board of India observed allegedly unscrupulous activities by REL's promoters, such as accounting irregularities and siphoning off of company funds into personal accounts, and also pointed out lapses by its auditors. The regulator said the company and its auditors were non-cooperative."The acts of REL constitute a deliberate device, scheme and artifice to mislead and defraud investors dealing in the shares of REL by portraying an inflated and misleading picture of its operational scale, revenue and financial health," Sebi observed in its report.The company, eponymously named after its chairman Rajesh Mehta, is accused of committing an elaborate financial fraud that includes dressing-up of revenues of โน15.15 lakh crore over the years, personal gold trades covered up as corporate sales and phoney gold mine investments of โน1,035 crore, according to the interim report.REL denied the charges of misdeeds. In a press release Thursday, the company said the revenues stated in its financials were correct and that the confusion arose because of a mix-up between Ebitda and revenue numbers at Swiss refiner Valcambi SA, an indirect subsidiary.Sebi has not made any adverse observation with regard to earnings, the company said, claiming that the regulator has only observed suspicion with regard to revenues which was primarily because of confusion over the Valcambi numbers.Numbers don't add upIn fiscal 2025, REL reported consolidated revenue of โน4.23 lakh crore against a profit after tax of just โน95 crore, translating into a net margin of barely 0.02%. The year before, on โน2.8 lakh crore revenue, profit was โน336 crore.Experts who have studied the Sebi report and the company's annual reports say the numbers did not add up. The business appeared to be operating at margins that were not merely thin but structurally negligible, they said."It looks like a case of pass-through accounting. There is no value creation. It was 'flow of gold' being booked as revenue," said a leading auditor on the condition of anonymity.Sebi, which began the investigations in March 2024 following a shareholder complaint about suspected accounting malpractices, said it found that about 97-99% of REL's consolidated revenues were attributed to its overseas subsidiaries, principally Valcambi. But Valcambi's own accounts, audited by KPMG SA, recorded only processing fees that were about โน3,027 crore across five years.Valcambi refined gold on behalf of clients and never took ownership of the precious metal or recognised the value of gold as revenue in its books. Yet, Global Gold Refineries AG (GGR), the parent of Valcambi that had no independent operating business, recorded gross revenues running into hundreds of crores by including the gross value of gold that actually belonged to others, according to the Sebi report.Rajesh Exports, which owns GGR through a Singapore subsidiary, used those unaudited figures in its financial statements, significantly bumping up the company's revenue, it said.In its press release, REL said: "The core observation in the order is with regard to the misreporting of the revenues. This has emerged primarily due to confusion because Sebi has considered the Ebitda of Valcambi instead of revenue hence it has stated that there is a difference of about 97% in the revenue.""There is no reason for any listed entity to inflate revenue and maintain the earnings, this will only reduce the margins of the company, which would be adverse to the company," it said.Senior management in the darkThe senior management of REL told regulators that most of them were in the dark about the company's overseas operations and only the promoter, Rajesh Mehta, dealt with those activities."Valcambi SA does not have any gold mine on its own," managing director Suresh Gowda was quoted in the Sebi order as saying. "It refines the raw gold purchased by it from various entities, whose names I do not recollect, as these things are exclusively handled by Rajesh Mehta, chairman of REL. I have never interacted nor involved with any subsidiary/step-down subsidiary of REL, as these were exclusively taken care of by Rajesh Mehta," he told the investigators, as per the order.According to the report, REL booked โน11,487 crore in sales between 2021-22 and 2023-24 to Affluence Shares and Stocks, a broker that made up to 66% of the company's standalone revenue for that period. But Affluence, in formal depositions to the regulator, said it had not done any business with REL.Following the transaction trail, the investigators found out that the transactions were personal gold derivative trades executed by promoter Mehta using his own brokerage account and then recorded in the company's books as corporate sales, the order said.The investigators also found that Mehta used corporate funds. As per the Sebi observations, bank records show REL transferred โน338.90 crore directly into Mehta's personal accounts between April 2020 and September 2025.Unlike in the case of Nirav Modi or Gitanjali Gems, who are accused of bank fraud, Rajesh Exports doesn't appear to have borrowed big from banks or through sale of bonds, according to regulatory filings.The company's market cap was just over โน3,000 crore, as per Thursday's closing share price. LIC (10.8%) and Bridge India Fund (8.46%) are its major institutional shareholders."It is striking that, even at a peak market capitalisation of โน25,000 crore, the company did not hold any analyst calls, a basic expectation for a listed company of that scale," said Shriram Subramanian, founder and managing director of InGovern Research Services, a corporate governance advisory firm.The regulator in 2024 hired BDO India Services to investigate. But the forensic audit faced problems at almost every stage of the investigation. It was denied access to ERP systems and was not provided a complete journal dump, preventing independent verification of transactions recorded in the books, according to the regulatory report.And the company declined to share subsidiary-level records with the investigator, citing Swiss data protection laws, limiting auditors largely to reviewing financial statements prepared by the management itself rather than underlying evidence, it said.What's also come under the scanner was the conduct of statutory auditors for the last few years: CA PV Ramana Reddy, the proprietor at PV Ramana Reddy & Co, and CA PL Venkatadri, partner at BSD & Co.The company's FY24 and FY25 annual reports, filed with the stock exchanges, carry an unqualified opinion from BSD & Co, which concluded that the financial statements presented a "true and fair view" in line with Indian Accounting Standards.The company's FY24 Directors' Report noted that the statutory and secretarial auditors had made no qualifications, reservations or adverse remarks.The Sebi report said for over five months, the auditors sat on the regulator's request for missing documents and statements.Emails sent to both audit firms did not elicit any response.REL closed 5% lower at โน103.92 Thursday on the NSE. The shares are down from their peak of โน1,028.40 on February 6, 2023.
Ritabrata Banerjee has said the West Bengal Assembly Speaker had accepted the rebel campโs bid to be recognised as the partyโs legislature wing.
Ritabrata Banerjee and Sandipan Saha, the two lawmakers expelled by the TMC, have been recognised as the leader and deputy leader of the Opposition respectively
In a historic political shift in West Bengal, the Trinamool Congress is facing major internal upheaval after Assembly Speaker Rathindra Bose reportedly recognised Ritabrata Banerjee as the new Leader of Opposition.The development is being seen as a significant setback to Mamata Banerjeeโs authority, with rebel TMC MLAs backing Ritabrataโs claim amid rising dissent within the party.The move has triggered fresh questions over the future of the Trinamool Congress, its internal power structure, and whether the party can contain the growing rebellion. As political tensions rise, all eyes are now on Mamata Banerjeeโs next move and the official TMC response.Watch the full report for the latest updates on the Bengal political crisis. -speakn18oc_breaking-newsNews18 Mobile App - https://onelink.to/desc-youtube
The Pink Tag Project, a first-of-its-kind breast cancer awareness initiative, was recognised for its innovative approach to promote early detection & raise awareness among women.
The peacekeepers were recognised for their efforts in โprotecting civilians through patrols, community engagement, veterinary camps, women's self-defence training, combating gender violence and improving humanitarian accessโ
Odisha was chosen as the host state due to its "globally recognised milestones in disaster preparedness, effective cyclone management, and early warning systems
Capital markets regulator Sebi has relaxed nomination norms for demat accounts and mutual fund folios, making the process simpler for investors while continuing its push to reduce the buildup of unclaimed financial assets.In a circular issued on Friday, the regulator said investors opening single-holder demat accounts or mutual fund folios after September 1, 2026, will be required to either nominate a beneficiary or formally opt out through a declaration.The move modifies rules introduced last year after market participants flagged operational challenges in implementing the earlier framework.Sebi said the revised norms are aimed at improving ease of investing and simplifying the nomination process.Under the new framework, nomination will remain mandatory for single-holder accounts unless the investor explicitly chooses to opt out. For jointly held accounts and folios, however, nomination will be optional.Investors will be allowed to appoint up to three nominees.In a significant simplification, Sebi has removed the requirement for a witness signature when investors submit nomination forms with a regular signature. A witness will now be required only when an investor uses a thumb impression instead of a signature.The regulator has also reduced the amount of information investors must provide while filing nominations.Only the nominee's name and relationship with the investor will be mandatory. In the case of minor nominees, the date of birth will also be required.Details such as mobile number, email address, percentage share, Aadhaar, PAN, passport or other identification documents will remain optional.Where multiple nominees are appointed but percentage allocation is not specified, the assets will be distributed equally among the nominees.Sebi has also expanded digital options for filing nominations. Investors will be able to submit nominations online using a digital signature certificate, Aadhaar-based e-sign, any recognised e-sign facility, or through two-factor authentication using a one-time password sent to their registered mobile number and email address.The regulator has directed depositories, depository participants, mutual fund registrars and asset management companies to provide both online and offline nomination facilities. The revised framework also allows investors to modify or cancel nominations any number of times.For jointly held accounts, all account holders must consent to any nomination or nomination change regardless of the mode of operation.Sebi has also introduced measures to encourage investors who have not provided nominations. Depository participants and mutual fund registrars will be required to send biannual SMS and email reminders to investors who have neither nominated a beneficiary nor formally opted out.In addition, online platforms will have to display pop-up messages highlighting the benefits of nomination whenever such investors log in to their accounts. The regulator said these nudges are intended to reduce the risk of securities and mutual fund units remaining unclaimed after the death of an investor.Sebi also wants greater transparency in account statements. Going forward, account and holding statements will either display the names of nominees or indicate whether a nomination exists, depending on the investor's preference.The market regulator has repeatedly expressed concerns over growing unclaimed financial assets and has been encouraging investors to update nominations across investment products.Under existing rules, securities that remain unclaimed for prolonged periods can eventually be transferred to the Investor Education and Protection Fund Authority (IEPF) under applicable regulations.Sebi said the revised norms supersede all previous circulars relating to nominations for demat accounts and mutual fund folios. The new framework will come into effect from September 1, 2026, giving market intermediaries time to upgrade their systems and implement the revised procedures.The changes are expected to make account opening and nomination management easier while ensuring smoother transmission of securities and mutual fund holdings to legal heirs and nominees.
Weeks after a video showing a father's emotional reaction to his son's Amazon offer letter touched millions online, the tech giant sent him a special joining kit of his own. The gesture recognised the sacrifices he made to help his son become the first engineer in the family.
The court was hearing a civil dispute between Brigadier Sukhjit Singh, the government-recognised titular โMaharajaโ of Kapurthala, and his estranged wife, Gita Devi
India is undertaking the revision of Index of Industrial Production (IIP) and plans to release the new series on June 1, 2026, marking the tenth revision of base year. The Ministry of Statistics and Programme Implementation (MoSPI) has broadened the scope of the index to include 120 new item groups and enhance the granularity by providing separate indices for numerous sectors.The base year of IIP is being shifted to 2022-23 from 2011-12. The new IIP will track several new items such as magnetic stripe cards including debit and credit cards, CCTV cameras, non-woven textile products, aircraft and spacecraft parts, stents, and vaccines.The revised series significantly widens the scope of industrial activity captured in the index by adding emerging and previously underrepresented sectors such as rare earth minerals, gas supply, water management and waste treatment.MoSPI has also overhauled the product basket to better reflect contemporary industrial production patterns, replacing obsolete items with newer commodities and aligning the series with the updated National Industrial Classification (NIC)-2025 framework. The revised basket now comprises 1,042 products mapped to 463 item groups, including 120 new item groups. MoSPI has dropped 64 item groups from the list, which include kerosene, fluorescent tubes and CFLs, tubes for bicycle, tricycle and rickshaw tyres.The new series introduces more granular sub-indices, including separate tracking of renewable and non-renewable electricity generation, allowing policymakers to better monitor Indiaโs evolving energy mix. The mining and quarrying segment has also been split into dedicated indices for fuel minerals, metallic minerals and non-metallic minerals.The revised methodology also allows statistical authorities to replace permanently shut factories with comparable operating units and induct newly commissioned large factories into the sample base during the life of the series. This is expected to improve the representativeness and timeliness of industrial output data.MoSPI will use a geometric mean-based approach to transition from the 2011-12 base series to the new 2022-23 series.Why is the base year being revised?According to a government release, the IIP base year is revised to reflect structural changes in the economy, technological progress, and the growth of new industries and products. โRevising the base year ensures that the index accurately represents current production patterns and provides more reliable data for economic analysis and policy-making,โ MoSPI said.A Report of the Technical Advisory Committee for โNew Series of All India Index ofIndustrial Production 2022-23โ highlighted the need for periodic revision which arises from the dynamic nature of the economy.โThe structure of production, the relative importance of industries, and the range of products manufactured undergo continuous change over time,โ it said, adding that regular revisions of the base years of economic indicators like IIP are therefore essential to ensure that they remain representative of current industrial activity.The index must continue to accurately reflect evolving economic realities.Citing โsignificantโ advancements in statistical methodologies and computational capabilities over the period, MoSPI report said that the processes that were difficult to execute have now become relatively easier to implement.The new IIP series retains the existing sectors of Mining, Manufacturing, and Electricity. However, it expands the scope by including Gas Supply and Water Supply, Sewerage & Waste Management activities, giving a broader and more accurate picture of industrial production. In the Mining sector, the new IIP series also includes minor minerals and rare earth minerals along with major minerals, making the index more comprehensive.131367884The item basket for sectors, other than Manufacturing, is selected based on the nature of activities and key measurable outputs of each sector. MoSPI, in certain cases, has held consultation with concerned ministries and departments.The new item baskets are as follows:The โMining & Quarryingโ basket includes 34 minerals comprising fuel minerals and metallic & non-metallic minerals regulated, along with 1 rare earth mineral and 9 minor minerals.The โElectricityโ basket covers total electricity generation from both renewable and non-renewable sources.The โGas Supplyโ basket uses the volume of gas supplied or distributed through mains/pipelines as the item of measurement.Under the โWater Supply, Sewerage & Waste Managementโ, the government tracks water supply through tap connections, sewerage through sewerage/septage connections and waste management through the quantity of waste collected and processed.MoSPI has formed the item groups for IIP by aggregating products based on similarity within the industry group to ensure consistency, comparability, and operational feasibility in monthly data reporting.The government has also kept the revision of substitution of the factories in the new series of IIP to address the challenges of prolonged non-response or closed factory.While the six use-based categoriesโPrimary Goods, Capital Goods, Intermediate goods, Infrastructure/ Construction Goods, Consumer Durable Goods and Consumer Non-Durable Goodsโremain the same as the 2011โ12 series, individual item classifications have been reviewed in detail and updated.Why is IIP important?The report recognised that the index is โnot just a technical statistical indicator, but an important measureโ that stakeholders understand the health and direction of the economy.The IIP provides one of the earliest signals of industrial performance, and hence plays a crucial role in economic planning, policymaking, and market analysis.The index plays a pivotal role in tracking cyclical conditions, informing fiscal and monetary policy deliberations, and shaping expectations of businesses and investors, helped by macro and sectoral analysts.MoSPI believes in the idea that economic statistics must keep pace with the economic transformations, and hence new products, emerging technologies, evolving production systems, and changing patterns of industrial activity are being included in the index calculation.โIndustrial statistics cannot remain fixed while industries themselves are rapidly changing,โ it said in the report cited above.
Representatives of recognised unions and officials would begin TGSRTC merger process after elections for recognised unions