An expert committee constituted by the Supreme Court has found no conclusive evidence of stock price manipulation in the Adani group companies. The panel, however, said it was not possible to conclude if there had been regulatory failures regarding price manipulations.

The apex court had on March 2 ordered the formation of a six-member committee to probe allegations of stock manipulation against Adani Group by US short-seller Hindenburg Research.

investigate if there was any failure to disclose transactions with related parties and if stock prices were manipulated.

Spending in foreign exchange through international credit cards will be covered under the Reserve Bank of India's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per annum without the authorisation of the central bank, as per a finance ministry notification.

The ministry on May 16 notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023, to include international credit card payments in the LRS. Any remittance beyond USD 2.5 lakh or its equivalent in foreign currency would require approval from the RBI.

The Central Bureau of Investigation (CBI) has registered a case against a Mumbai-based private company and its directors for allegedly cheating a consortium of banks (Central Bank of India and Punjab National Bank) to the tune of ₹225.62 crore. In its complaint, one of the banks from the consortium has alleged that the company, its promoters, directors had availed the funds in the form of term loan, cash credit, etc with the pre-planned intention of defrauding the lenders. The borrower company has its registered office at Juhu and is engaged in manufacturing and selling of high tensile alloy steel fasteners.

According to the CBI, a written complaint was received from Sridhar Sahoo – who works at the Central Bank of India's Nariman Point branch – against the borrower company and its two directors unknown public servants and unidentified for having committed offences of cheating, misappropriation of funds, criminal breach of trust and defrauding the banks.

Nifty realty index has decisively crossed 5-months high and is few points shy of setting a new 52-week. Technically, when critical levels are achieved, the next upside could reach a new all-time high. 

Shares of realty sector on Monday performed well on the bourses, with DLF and Sobha rolling 10 per cent gains, while Godrej Properties, Prestige Estates Projects, and Oberoi Realty advanced close to 5 per cent each.

On Tuesday, DLF, Godrej Properties and Indiabulls Real Estate continue their upward.

With SEBI telling the Supreme Court that it was not investigating the Adani Group since 2016, the Congress on Monday cited a Union minister's reply in the Lok Sabha to challenge the claim and asked whether Parliament was misled or the market regulator was "fast asleep" as investors were "duped".

The Securities and Exchange Board of India (SEBI) told the Supreme Court that it was not investigating the Adani Group since 2016 as claimed. The probe pertained to the issuance of Global Depository Receipts (GDRs) by 51 Indian firms and no listed company of the Adani Group was among them, it said.

The fresh rejoinder affidavit was filed by the market regulator before a bench headed by Chief Justice D Y Chandrachud which adjourned to Tuesday the hearing on PILs and a separate plea of the SEBI seeking extension of six months to complete a probe into allegations of stock price manipulation by the Adani Group.