Enforcement Directorate Summons Anil Ambani in Loan Fraud Probe
The Enforcement Directorate (ED) has summoned Reliance Group Chairman Anil Ambani for questioning on August 5 in Delhi. The summons is part of a money laundering investigation into an alleged loan fraud scheme exceeding ₹10,000 crore. The probe stems from CBI FIRs and focuses on the diversion of around ₹3,000 crore in loans from Yes Bank between 2017-2019. The action follows extensive ED raids last week on over 50 companies linked to Ambani's business group across Mumbai and Delhi.
Former MP Prajwal Revanna Convicted of Rape in Landmark Verdict
A special court in Bengaluru has convicted former Janata Dal (Secular) MP Prajwal Revanna in a rape case involving a 48-year-old employee at his family's farmhouse. This is the first conviction among four cases filed against him after hundreds of videos allegedly showing him sexually assaulting multiple women surfaced before the 2024 Lok Sabha elections. The verdict marks a significant development in a case that sparked national outrage and led to his arrest after he fled to Germany.
Pakistan Court Sentences 166 Members of Imran Khan's Party to 10 Years in Prison
An anti-terrorism court in Faisalabad, Pakistan, has sentenced 166 members of Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party to 10 years in prison each. The convictions relate to the May 9, 2023, attacks on military installations, including an ISI building, following Khan's arrest. Those sentenced include senior lawmakers and opposition leaders. The PTI has condemned the verdict as politically motivated and part of a plan to disqualify its parliamentarians ahead of a planned protest movement.
Enforcement Directorate Issues Lookout Notice for Anil Ambani in Loan Fraud Probe
The Enforcement Directorate (ED) has issued a Look Out Circular (LOC) against industrialist Anil Ambani in connection with a money laundering probe into an alleged ₹17,000-crore loan fraud. Ambani has been summoned to appear on August 5. The investigation stems from an FIR filed by Delhi's Economic Offences Wing and recent ED raids on 35 locations linked to the Reliance Group, which reportedly uncovered a fake bank guarantee scheme designed to defraud financial institutions.
Above-Normal Rainfall Likely in August and September, IMD Forecasts
The India Meteorological Department (IMD) has forecast above-normal rainfall for the second half of the monsoon season, covering August and September. Overall rainfall is expected to be 106% of the Long Period Average. Most parts of the country are likely to receive normal to above-normal rain, with the exception of the Northeast, parts of eastern India, and some central and peninsular regions. The forecast is critical for the agriculture sector, which is heavily dependent on monsoon rains.
US President Demands Global Price Parity from Major Pharma CEOs
US President Donald Trump has sent letters to 17 top pharmaceutical CEOs, including Novartis's Indian-American head Vasant Narasimhan, demanding they reduce drug prices for Americans. The letters give the companies until September 29 to commit to offering the same prices in the US as they do in Europe and other developed nations. This direct presidential intervention marks a major escalation in the administration's efforts to lower healthcare costs and could significantly impact the global pharmaceutical industry's revenue models.
Cabinet Approves Four Railway Projects Worth ₹11,169 Crore
The Cabinet Committee on Economic Affairs has approved four multi-tracking railway projects with a total estimated cost of ₹11,169 crore. The projects will add approximately 574 km to the Indian Railways network across 13 districts in Maharashtra, Madhya Pradesh, West Bengal, Bihar, Odisha, and Jharkhand. Expected to be completed by 2028-29, the initiatives aim to enhance connectivity, ease congestion on essential freight routes for commodities like coal and cement, and improve multi-modal logistics efficiency.
India's Manufacturing Growth Hits 16-Month High, but Business Confidence Falters
India’s manufacturing sector activity reached a 16-month high in July, with the HSBC PMI rising to 59.1, driven by strong new orders and output. Despite the robust current performance, the outlook is mixed. The survey revealed that business confidence has slumped to a three-year low, weighed down by concerns over inflation and intensifying competition. Furthermore, the pace of job creation slowed to its least extent in eight months, signaling caution among manufacturers about future prospects.
Supreme Court Gives Telangana Speaker 3 Months to Decide on MLA Disqualifications
The Supreme Court has directed the Telangana Assembly Speaker to decide within three months on petitions seeking the disqualification of ten MLAs who defected from the Bharat Rashtra Samithi to the ruling Congress in 2024. The court observed that a delay defeats the purpose of the anti-defection law (Tenth Schedule) and that the speaker's role is not immune to judicial review. The ruling sets an important precedent for curbing politically motivated delays in handling defection cases nationwide.
'The Kerala Story' National Award Win Sparks Political Outcry
The 71st National Film Awards saw '12th Fail' named Best Feature Film, while Shah Rukh Khan ('Jawan') and Vikrant Massey ('12th Fail') shared the Best Actor prize. However, the awards sparked political controversy after Sudipto Sen won Best Director for 'The Kerala Story'. Kerala Chief Minister Pinarayi Vijayan called the decision a "grave insult," accusing the jury of legitimizing a divisive film that tarnishes the state's image, igniting a debate on art and politics.
ED Raids Fake Delhi Call Centres That Duped US Citizens of ₹100 Crore
The Enforcement Directorate (ED) has raided three premises in Delhi linked to a money laundering probe against fake call centres. The operation allegedly duped US citizens by selling them pirated software disguised as legitimate products from companies like Microsoft. According to preliminary investigations, the call centres received foreign remittances worth approximately ₹100 crore between 2016 and 2025. The raids were conducted under the Prevention of Money Laundering Act (PMLA) as the investigation continues.
Cricketer Yuzvendra Chahal Reveals Battle with Suicidal Thoughts After Divorce
In a candid podcast interview, Indian cricketer Yuzvendra Chahal opened up about his struggle with depression, anxiety, and suicidal thoughts following his divorce from Dhanashree Verma. The wrist-spinner described how he felt his "mind had gone numb" and credited close friends for their support during the difficult period. Chahal's public revelation about his mental health battle sheds light on the personal pressures faced by public figures and has been praised for helping to destigmatize such conversations.
Odisha to Launch Global FinTech Hub to Develop Tech Talent
The Odisha government announced the launch of the Integrated Global Financial Technology Capability Hub (I-GFTCH) to position the state as a centre for excellence in digital finance. The initiative, in partnership with the Global Finance & Technology Network (GFTN), aims to equip over 7,000 students across Odisha with job-ready skills in AI, blockchain, and digital finance over the next five years. The collaboration, involving institutions like the National University of Singapore, aims to build a future-ready talent ecosystem.
US Sanctions Six Indian Companies for Trading with Iran
The US has sanctioned six Indian petrochemical companies for engaging in "significant transactions" with Iran, violating American sanctions. The companies, including Alchemical Solutions and Jupiter Dye Chem, are accused of collectively purchasing over $220 million in Iranian-origin products. As a result, their US-based assets are frozen, and American entities are barred from doing business with them. The action is part of Washington's "maximum pressure" campaign to cut off revenue to the Iranian regime.
All Accused in 2008 Malegaon Blast Case Acquitted After 17-Year Trial
A special National Investigation Agency (NIA) court has acquitted all seven accused in the 2008 Malegaon blast case, including BJP MP Sadhvi Pragya Singh Thakur and Lt Colonel Prasad Purohit. The court cited a lack of sufficient and cogent evidence to prove charges under the UAPA and other acts. The 2008 blast near a mosque in Maharashtra killed six people and injured over 100. The verdict concludes a highly politicised, 17-year-long legal battle.