Ministry of Consumer Affairs, Food & Public Distribution  

Department of Consumer Affairs launches ‘Jagriti’, a mascot to empower consumers and generate awareness towards consumer rights Posted (15 JUL 2022)

The Department of Consumer Affairs (DoCA) has launched “Jagriti”, a mascot for empowering consumers and generating awareness of their rights. 

The “Jagriti” mascot will be used to generate consumer awareness about various themes of the Department like provisions of Consumer Protection Act 2019, Hallmarking, National Consumer Helpline toll free number 1915, provisions of weights & measures Act, decisions of the Central Consumer Protection Authority and testimonials by consumers on grievance redressal.

For Press Release, Click Here

MINISTRY OF FINANCE  

Income Tax Department conducts searches in Delhi and Mumbai (15 JUL 2022)

Income Tax Department carried out a search and seizure operation on 07.07.2022 on a Delhi and Mumbai based group, engaged in the business of hospitality, marble, lights trading and real estate. A total of 18 premises across Delhi, Mumbai and Daman were covered during the search action.  

During the course of the search operation, a large number of incriminating evidences in the form of hard copy documents and digital data have been found and seized. These evidences indicate that the group has parked its undisclosed money abroad in certain low tax jurisdictions. 

The group, through Malaysia based web of companies, has finally invested the funds in its hospitality business in India. It is estimated that quantum of such funds exceeds Rs. 40 crore.

For Press Release, Click Here 

Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds (JUL 15, 2022)

It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th June, 1975, shall with effect from 1st July, 2022 to 30th September, 2022 bear interest at 7.1% (seven point one percent). 

This rate will be in force w.e.f. 1st July, 2022.

For Gazette Notification, Click Here

BUSINESS NEWS

Adani Group-led JV wins bid to privatise Israel’s Haifa Port for $1.8 billion (JUL 15, 2022)

An Adani Group-led consortium in partnership with Israel’s Gadot Group will acquire the company operating country’s mega Haifa Port for $1.8 billion. They secured the rights to buy 100% shares of Haifa Port Company Ltd, for a concession period up to 2054. 

Located in northern Israel, Haifa is one of the country’s two biggest commercial ports that handles nearly half of Israel’s container cargo and is also a principal port for passenger traffic and cruise ships.

For News Report, Click Here

Google freezes hiring; Joins Meta, Spotify, Snap as recession fears hit Big Tech (JUL 15, 2022)

Google will slow down hirings for the remainder of 2022, telling employees that the company would have to “be more entrepreneurial”.  Google CEO Sundar Pichai sent a memo to employees, informing them about the slowing down in hiring and urged them to work with “greater urgency, sharper focus, and more hunger than we’ve shown on sunnier days”.

Google hired 10,000 employees in Q2 alone. Now, the company will re-deploy resources to higher-priority areas.

For Details, Click Here

NEWS AT GLANCE 

  • UAE to invest two billion dollars to develop Integrated Food Parks in  India; US and Israel to provide technology.   
  • Rishi Sunak wins second round of voting to succeed Boris Johnson as UK's Prime Minister and leader of Conservative Party. 
  • IIT Madras is the number one Higher Educational Institution in India; IISc Bengaluru is the best university in India Rankings-2022.  
  • In Sri Lanka, Prime Minister Ranil Wickremesinghe sworn in as the Acting President; Sri Lankan Parliament to meet tomorrow.

WORD OF THE DAY

Testimony is oral evidence given under oath by a witness in answer to questions posed by attorneys at trial or at a deposition (questioning under oath outside of court).

MARKET TODAY (as on 15.7.2022)

BSE SENSEX                 53,760.78 ▲ 344.63 (0.65%)       

NIFTY 50                      16,049.20 ▲ 110.55 (0.69%)

1 US Dollar = 79.74 Indian Rupee (Last updated · 15 July at 1:38 pm UTC)

MyLawman is now on Telegram (t.me/mylawman) Follow us for regular legal updates. Follow us on Google News, Instagram, LinkedIn, Facebook & Twitter or join our Whatsapp group .You can also subscribe for our Newsletter for Email Updates.