MUMBAI: Bank of Baroda has agreed to pay $600 million (about Rs 5,700 crore) to the administrators of the collapsed West Asian healthcare group NMC Health in an out-of-court settlement that brings to a close years of cross-border insolvency and fraud-related litigation, with both sides making no admission of liability and courts in Abu Dhabi…
NEW DELHI: In the biggest overhaul of the Drugs (Prices Control) Order (DPCO), 2013 in years, Centre has significantly narrowed drugmakers’ liability in overcharging cases, while introducing a host of long-pending changes sought by the pharma industry. The amendments, notified on June 30 and effective immediately, ease compliance for pharma companies, simplify pricing approvals for…
NEW DELHI: Seeking to allay public fears over ethanol-blended fuel, petroleum minister Hardeep Singh Puri Thursday said a “make-believe” narrative had been unleashed on social media over the past few days.Addressing a press conference, the minister said the reduction in mileage of an E20-fuelled vehicle is “minor”. “It is well established that when you have…
PM Modi with Japanese counterpart Sanae Takaichi (ANI photo) NEW DELHI: PM Narendra Modi and his Japanese counterpart Sanae Takaichi reaffirmed their commitment to an early convening of the next Quad Leaders’ Summit and underlined the importance of ensuring unimpeded freedom of navigation through the Strait of Hormuz in a joint statement.With both countries heavily…
NEW DELHI: In the first case of its kind, Supreme Court on Thursday quashed orders passed by NCLT and NCLAT on the ground that they decided a case on the basis of AI-generated non-existent case laws and verdicts, cautioning that unchecked use of AI could distort the justice delivery system.A bench of Justices P S…
NEW DELHI: Faced with a pile of cases under the Foreign Exchange Management Act (Fema) and eager to avoid prolonged legal battles, the Enforcement Directorate is settling for large-scale compounding of offences and termination of adjudication proceedings after obtaining the Reserve Bank of India‘s approval.In the last 15 months, more than 150 Fema cases have…
NEW DELHI: A day after directing Meta to pause WhatsApp’s proposed username feature, govt has issued similar notices to Telegram and Signal over their existing username systems, asking them to explain how they prevent fraud and impersonation.The IT ministry wants detailed responses on safeguards against scams, phishing, digital arrest frauds and identity impersonation. Like WhatsApp,…
NEW DELHI: An Indian Navy warship thwarted a piracy attempt on an India-bound merchant vessel in the Gulf of Aden on Wednesday night, the Navy said on Thursday.On getting information about an attempted piracy attack, INS Trikand, a guided-missile Talwar-class frigate, approached bulk carrier MV Golden Arsenal and Marine commandos (Marcos) boarded the vessel and…
Chinese president Xi Jinping (File photo) DHAKA: China said Thursday it is “determined” to build an economic corridor with Bangladesh and Myanmar, but remains open to “other countries” joining its “transnational initiative” – a project on India’s eastern flank that mirrors the China-Pakistan Economic Corridor’s (CPEC) strategic role on its western frontier.The corridor – discussed…
Defence minister Rajnath Singh NEW DELHI: The defence ministry is expected to approve on Friday several proposals, estimated to be worth over Rs 1 lakh crore, including the acquisition of K-9 Vajra self-propelled howitzers, HAMMER air-to-ground precision guided munitions, a large number of Russian-origin Verba very short-range air defence systems, man portable anti-tank guided missiles,…