Skip to content
Search

Latest Stories

Rafale Deal: Indian Court To Pronounce Verdict On Friday

India’s top court, Supreme Court on Friday (14) will pronounce its ruling on the petitions seeking a court-monitored investigation into India’s multi billion dollar Rafale fighter jet deal with France.

Earlier, a bench headed by Supreme Court chief justice Ranjan Gogoi had reserved its judgement on a batch of petitions on November 14 which sought apex court's intervention into the deal over alleged irregularities.


Advocate ML Sharma was the first person to file a petition against the fighter jet deal followed by another advocate Vineet Dhanda for a court monitored investigation into the deal agreed to supply Rafale fighter jets to India.

Aam Aadmi Party (AAP) leader Sanjay Singh had also filed his petition against the deal.

Later, former Indian ministers Yashwant Sinha and Arun Shourie along with activist advocate Prashant Bhushan filed their petition before the apex court for a direction to the India’s federal probe agency Central Bureau of Investigation (CBI) to register FIR for alleged irregularities in the deal.

Meanwhile, the Indian government defended the deal and dismissed any irregularities as alleged by the opposition party leaders. The government has also rejected public disclosure of the pricing details.

According to the deal signed between Indian and France, it was agreed to purchase 36 Rafale fighter jet in fly-away condition as part of the upgrading process of Indian Air Force (IAF). The cost of the deal is estimated at Rs 580 billion.

The Rafale fighter is a two-engine Medium Multi Role Combat Aircraft (MMRCA) produced by French aerospace firm Dassault Aviation.

More For You

JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less