Tribunal Finds Ex-ICICI Bank CEO Chanda Kochhar Guilty in Videocon Loan Case
An appellate tribunal under the Prevention of Money Laundering Act (PMLA) has found former ICICI Bank CEO Chanda Kochhar guilty of accepting a ₹64-crore bribe as a quid pro quo for sanctioning a loan to the Videocon Group. The tribunal upheld the Enforcement Directorate's attachment of her properties, deeming them proceeds of crime. This landmark verdict is a significant development in one of India's most high-profile cases of corporate corruption, with major implications for banking accountability.
Tribunal Finds Ex-ICICI CEO Chanda Kochhar Guilty of Accepting ₹64 Crore Bribe
An appellate tribunal under the SAFEMA Act has found former ICICI Bank CEO Chanda Kochhar guilty of accepting a ₹64 crore bribe for sanctioning a ₹300 crore loan to the Videocon Group in 2009. The ruling overturns an earlier clean chit from a PMLA authority and supports the Enforcement Directorate's attachment of her assets, framing it as a prima facie money laundering case. The tribunal highlighted a clear conflict of interest, noting the funds were traced to a company promoted by her husband.
Parliament Disrupted as Opposition Protests Bihar's Special Electoral Roll Revision
The second day of the Monsoon Session saw Parliament proceedings stalled as Opposition parties protested Bihar's Special Intensive Revision (SIR) of electoral rolls. Leaders alleged the exercise, which excludes Aadhaar and PAN cards as valid proof for voter verification, is designed for large-scale disenfranchisement of marginalized communities ahead of state elections. Both Lok Sabha and Rajya Sabha were adjourned amid sloganeering and demands for a debate, with the Opposition calling the move a threat to democratic rights.
BCCI to Be Brought Under New National Sports Governance Bill
The powerful and largely autonomous Board of Control for Cricket in India (BCCI) is set to come under the purview of the new National Sports Governance Bill. This move, revealed ahead of the bill's introduction in Parliament, would require the cricket body to get recognition from a proposed National Sports Board, similar to other national sports federations. The legislation aims to enforce accountability, timely elections, and a formal dispute resolution framework, fundamentally altering governance of India's most popular sport.
Heavy Metal Legend Ozzy Osbourne Dies at 76
Ozzy Osbourne, the iconic English singer and frontman of pioneering heavy metal band Black Sabbath, has died at 76 after a long battle with Parkinson's disease. Known as the "Prince of Darkness," Osbourne's powerful vocals and theatrical stage presence defined a genre and influenced generations of musicians. His career, spanning his time with Black Sabbath, a successful solo run, and later fame as a reality TV star, cemented his status as a global cultural icon who sold over 100 million albums.
Gita Gopinath to Step Down as IMF's First Deputy Managing Director
Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF), will step down in August 2025 to return to academia at Harvard University. Gopinath, the first woman to serve as the IMF's Chief Economist, was promoted to the Fund's number two position in 2022. Her tenure was marked by her leadership during major global economic crises, including the COVID-19 pandemic. She will rejoin Harvard as the inaugural Gregory and Ania Coffey Professor of Economics.
Stranded British Stealth Fighter Jet Finally Departs After Month-Long Stay
A British F-35B stealth fighter, which made an emergency landing in Thiruvananthapuram on June 14, finally departed after a month-long stay for repairs. The advanced jet was grounded due to a hydraulic system failure, requiring a 14-member UK engineering team to be flown in. The unusual, extended layover caught the public's imagination, inspiring a witty social media ad from Kerala Tourism that featured the jet and quipped, "Kerala is such an amazing place, I don't want to leave."
Bombay High Court Acquits All 12 Convicted in 2006 Mumbai Train Blasts
The Bombay High Court has acquitted all 12 individuals convicted for the 2006 Mumbai local train blasts, which killed 189 people. The ruling overturns a 2015 trial court verdict that had sentenced five to death and seven to life imprisonment. Citing a lack of conclusive evidence, the court stated the prosecution "utterly failed" to prove its case and granted the accused the benefit of doubt. After 19 years, the 12 men are set to be released.
Vice President Jagdeep Dhankhar Resigns, Citing Health Reasons
Vice President Jagdeep Dhankhar has unexpectedly resigned from his post, effective immediately, citing medical advice. His resignation, submitted to President Droupadi Murmu, came on the first day of the Monsoon Session of Parliament. The move has triggered political speculation, with the Opposition suggesting deeper reasons beyond health. The Constitution mandates that an election to fill the vacancy must be held "as soon as possible," initiating the process to select India's next Vice President and Rajya Sabha Chairperson.
Parliament Session Opens With Showdown Over 'Operation Sindoor'
The Monsoon Session of Parliament began with the opposition demanding an immediate debate on the Pahalgam terror attack and the subsequent "Operation Sindoor". INDIA bloc parties have given notices to discuss India's military response and claims by former US President Trump of mediating a ceasefire. The government has stated it is ready for a discussion on all issues, while Prime Minister Modi hailed the military operation as a "Vijay Utsav" (victory celebration) for the nation.
Maharashtra to Appeal as Bombay HC Acquits All 12 Accused in 2006 Mumbai Train Blasts
The Bombay High Court has acquitted all 12 individuals previously convicted for the 2006 Mumbai serial train blasts, which killed 189 people. The court ruled that the prosecution "utterly failed" to prove its case. This verdict overturns a 2015 trial court decision that sentenced five to death and seven to life imprisonment. In a swift response, the Maharashtra government has moved the Supreme Court to challenge the acquittal, with an urgent hearing scheduled for July 24.
Bangladesh Air Force Jet Crash in Dhaka Kills 27, Including 25 Children
A Bangladesh Air Force F-7 BGI training jet crashed into a school and college campus in Dhaka, killing at least 27 people, including 25 children, and injuring over 170. The Chinese-made aircraft reportedly experienced a mechanical failure shortly after takeoff. The pilot, who also died, was hailed for attempting to steer the plane away from populated areas. The government has declared a national day of mourning and formed a high-level committee to investigate the tragic incident.
Gaza's 'Lost Generation' Misses Two Years of Schooling Amid War
The war in Gaza has triggered a severe educational crisis, with over 650,000 students having virtually no access to schooling for nearly two years. Since October 2023, classes have been suspended and most schools have become shelters for displaced families. The UN estimates nearly 90% of school buildings will require substantial reconstruction. The disruption has created a "lost generation" of young Palestinians missing out on basic and advanced education, with profound long-term consequences.
Japanese Prime Minister's Coalition Loses Upper House Majority
Japanese Prime Minister Shigeru Ishiba’s ruling coalition has lost its majority in the country's upper house of parliament. The Liberal Democratic Party and its partner Komeito fell three seats short of the required majority, a significant electoral setback that weakens Ishiba's government. This loss creates political instability in Japan, potentially complicating the administration's ability to tackle pressing economic challenges, including rising prices and US tariff threats.
Microsoft Issues Urgent SharePoint Patch Amid Active Cyberattacks
Microsoft has issued an urgent security patch for its on-premises SharePoint Server software after detecting "active attacks" exploiting critical vulnerabilities. The flaw allows for remote code execution, posing a significant threat to government agencies and businesses using the popular document-sharing platform. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has added the vulnerability to its catalog of known exploits and mandated that federal agencies apply the fix immediately.