Gautam Adani, along with his nephew and six others, has been charged by US prosecutors for allegedly paying Rs 2,029 crore ($265 million) in bribes to Indian government officials to secure solar power contracts. The bribes, paid between 2020 and 2024, were hidden from US banks and investors. This case follows a 2023 report accusing the Adani Group of fraud and stock manipulation.
Honasa Consumer Limited has denied claims by the All India Consumer Products Distributors Federation (AICPDF) about its distribution practices. The company clarified its inventory figures and explained its transition to a single-layered distribution model under "Project Neev." Honasa also reported improved financial metrics, including reduced accounts receivable and a better stock turnover ratio.
The CBI has started looking into a Rs 6,600-crore bitcoin scam in Maharashtra, following a Supreme Court order. Two people, Amit and Ajay Bharadwaj, are the main suspects, with Ajay still on the run. The CBI's investigation follows earlier probes by the Enforcement Directorate (ED). At the same time, BJP MP Sudhanshu Trivedi accused NCP MP Supriya Sule and others of being involved in illegal bitcoin activities, but Sule denied the accusations, calling them politically motivated.
Karnataka has released the Draft Space Tech Policy 2024-2029. The policy aims for the state to capture 5% of the global space market and 50% of India’s space sector. It focuses on creating high-skill jobs, developing space-based applications, and building a space manufacturing cluster. Karnataka plans to attract $3 billion in investments, support 500 start-ups, and train 5,000 professionals, including 1,500 women, for careers in the global space industry.
The ADR and Maharashtra Election Watch looked at 2201 candidates in the Maharashtra 2024 elections and found that 29% of them have criminal cases, with 19% facing serious charges. Even though the Supreme Court told political parties in 2020 to explain why they are choosing such candidates, these guidelines have been ignored, and parties continue to select people with criminal records.
Users on social media have raised concerns about "one-dish" restaurants popping up on Zomato in Chandigarh. These outlets, offering only a single dish at high prices, have confused users due to their strange names and lack of reviews. Some speculate the establishments could be fronts for money laundering or drug-related activities. Others have called for an investigation into these suspicious listings.
The Competition Commission of India (CCI) has fined Meta ₹213 crore over WhatsApp's 2021 privacy policy update. The company must stop unfair business practices and make changes, including giving users the option to control their data sharing and stopping the use of user data for advertising. The penalty comes from Meta's misuse of its dominant position in the messaging and advertising markets.
NALCO shares jumped over 9% on November 18 after the company reported a five-fold increase in its quarterly profit. The company earned a net profit of ₹1,062 crore for Q2 FY 2024-25, up from ₹206 crore in the same period last year. Its total income grew by 32% to ₹4,001 crore, and the company also declared an interim dividend of ₹4 per share.
The Income Tax Department has warned taxpayers that not reporting foreign assets or income in their income tax return (ITR) could lead to a fine of up to Rs 10 lakh. The warning comes as the deadline for filing belated and revised ITRs approaches, with the final date being December 31. Taxpayers are encouraged to report all relevant foreign assets and income to avoid penalties under the Black Money Act.
Domestic air travel crossed 500,000 passengers for the first time on Sunday, driven by affordable fares, a long weekend, and the wedding season. A total of 5,05,412 passengers flew on 3,173 flights that day. Passenger numbers have stayed high, consistently reaching over 4.9 lakh daily. Airlines have benefitted from cheaper fares and more flights, which helped boost demand after the Diwali season.