nanika Editor

In a major development from the corporate world, the Enforcement Directorate has launched a series of searches against the mining conglomerate, Vedanta Group. According to official sources, the federal agency initiated these searches on Monday as part of an ongoing investigation under the Foreign Exchange Management Act, or FEMA. The probe targets the operations of the multi-billion-dollar enterprise promoted by businessman Anil Agarwal. While specific details regarding the exact nature of the alleged financial irregularities have not yet been disclosed by the authorities, sources confirm that the federal agency is currently scrutinizing several cross-border financial transactions and foreign exchange dealings…

Mahindra & Mahindra has clocked an impressive 20 per cent year-on-year growth for May 2026, with total vehicle sales hitting 99,636 units, including exports. The stellar performance highlights sustained demand across both the automotive and agricultural sectors, cementing M&M’s strong market momentum. The utility vehicle segment remained a major growth engine. Mahindra recorded domestic SUV sales of 58,021 units, marking an 11 per cent increase from the previous year. Total utility vehicle sales, factoring in exports, reached 59,573 units. Commenting on the performance, Nalinikanth Gollagunta, CEO of M&M’s Automotive Division, noted that while portfolio demand remains robust, overall production faced…

The Central Bureau of Investigation has filed its first chargesheet in a major case linked to the Reliance ADA Group. Submitted before a Special CBI Judge in Mumbai, the chargesheet names 16 accused individuals and entities, including Reliance Communications Limited (RCom), senior corporate executives, and several public sector bank officials. The investigative agency has leveled serious charges of criminal conspiracy, cheating, criminal misappropriation, and criminal misconduct. Among those accused are five senior RCom executives and 10 bank officials from the State Bank of India, Bank of Maharashtra, and the erstwhile Syndicate Bank. At the heart of the probe is the…

In India’s hyper-competitive consumer tech arena, Swiggy is drawing a line in the sand. CEO Sriharsha Majety has announced a deliberate decision to step back from the aggressive spending war currently being waged by deep-pocketed giants like Amazon, Walmart-backed Flipkart, and Mukesh Ambani’s Reliance Retail. As these conglomerates battle to dominate the ten-minute delivery space with deep discounts, Swiggy is shifting its focus toward profitability and capital restraint. Following a challenging period—including a 30 percent dip in share value this year and slowing growth at its Instamart unit—investors have demanded a clear roadmap to profitability. Majety’s response is to reject…

In a major legal victory for US e-commerce giant Amazon, the Supreme Court of India on Wednesday set aside the ₹202 crore penalty imposed on the company by the Competition Commission of India (CCI). The top court also overturned the June 2022 order of the National Company Law Appellate Tribunal (NCLAT), which had previously rejected Amazon’s appeal against the suspension of its 2019 investment deal with the Future Group. A bench comprising Justices Vikram Nath and Sandeep Mehta delivered the landmark verdict, effectively striking down both the NCLAT judgment and the CCI’s December 2021 order. The antitrust regulator had initially…

Telecom giant Bharti Airtel has strongly defended its newly launched "Priority Postpaid" service, telling a Department of Telecommunications (DoT) panel that the offering does not violate India’s net neutrality norms. The service, which rolled out on May 19, promises consistent, high-speed connectivity for premium postpaid users, even in heavily crowded market areas. Responding to clarifications sought by the Committee on Communications and Information Technology, Airtel emphasized that the service is powered by 5G network slicing. The company explicitly stated that the feature operates in a "content-neutral" manner. According to Airtel, the architecture involves absolutely no blocking, throttling, or preferential treatment…

Schneider Electric expects its India data center business to outpace its core operations over the next four to five years. Driven by a surging demand for AI-ready infrastructure, the segment currently accounts for 15 to 20 percent of the company’s India revenue. Speaking to Reuters, Sumati Sahgal, Vice-President for Secure Power and Data Centres, Greater India Zone, highlighted that data centers and grid modernization will remain the company’s strongest growth themes. According to industry data from Astute Analytica, India's data center market is projected to skyrocket to over 31 billion dollars by 2035, maintaining a compounded annual growth rate of…