Ozone Urbana MD S Vasudevan remanded in ED custody in Rs 927-cr fraud case

Economic Times - Oct 2, 2026

S Vasudevan, chairman of Ozone Urbana Infra Developers, was arrested for alleged money laundering activities. The Enforcement Directorate claims he cheated homebuyers out of nearly Rs 927.22 crore by failing to deliver apartments. Investigations reveal that the company collected funds but did not refund deposits to buyers. The ED has also attached properties worth Rs 423.37 crore during the investigation.

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Sebi penalises SMC Global Securities for compliance lapses
Oct 2, 2026
Sebi penalises SMC Global Securities for compliance lapses

Sebi has levied a penalty of Rs 1 lakh on SMC Global Securities due to regulatory infractions, particularly the mishandling of client order-placement records uncovered during an inspection. This examination, covering the period from January to September 2024, highlighted issues tied to unauthorized trading and the oversight of authorized representative Amit Lilhare's client transactions. SMC Global Securities operates under Sebi’s regulations and engages with various stock exchanges across India.

ACC president Mohsin Naqvi to miss India-Pakistan Asian Games final
Oct 2, 2026
ACC president Mohsin Naqvi to miss India-Pakistan Asian Games final

Asian Cricket Council President Mohsin Naqvi will not attend the Asian Games gold medal contest between India and Pakistan. Naqvi is the head of the Pakistan Cricket Board and the country's interior minister. Indian men's and women's cricket teams have refused to take their respective Asia Cup trophies from him as a mark of protest, while expressing their support to the Indian defence forces involved in 'Operation Sindoor'. The BCCI requested the ACC to advise Naqvi to allow his deputy to do the honours, but he refused.

With a mixed scorecard, Trump poised to test his powers again at US Supreme Court
Oct 2, 2026
With a mixed scorecard, Trump poised to test his powers again at US Supreme Court

The US Supreme Court begins its new nine-month term on Monday with several cases testing the scope of President Donald Trump’s powers. Justices will hear disputes involving immigration and deportation policies, while appeals over transgender military service, asylum restrictions, federal prosecutors and executive authority could further shape the boundaries of presidential power.

IIT-B students begin hunger strike demanding accountability over Wakode's death
Oct 2, 2026
IIT-B students begin hunger strike demanding accountability over Wakode's death

IIT Bombay students initiated a hunger strike to seek accountability following the recent suicide of their classmate Sahil Wakode. The students have been protesting for 15 days and are demanding the resignation of the institute's director. After being denied permission to continue their protest at Azad Maidan, Wakode's parents joined their agitation. Key demands include an independent investigation into his death and changes to the inquiry committee.

IIT-B students begin hunger strike demanding accountability over Wakode's death
Oct 2, 2026
IIT-B students begin hunger strike demanding accountability over Wakode's death

IIT Bombay students initiated a hunger strike to seek accountability following the recent suicide of their classmate Sahil Wakode. The students have been protesting for 15 days and are demanding the resignation of the institute's director. After being denied permission to continue their protest at Azad Maidan, Wakode's parents joined their agitation. Key demands include an independent investigation into his death and changes to the inquiry committee.

INDIA bloc coming together in remarkable manner, 2029 Lok Sabha polls will be different story: Salman Khurshid
Oct 2, 2026
INDIA bloc coming together in remarkable manner, 2029 Lok Sabha polls will be different story: Salman Khurshid

Senior Congress leader Salman Khurshid highlighted the recent meeting of the INDIA bloc, noting their remarkable unity and collaborative spirit. He underscored that opposition leaders are now concentrating on their valuable contributions to the alliance, which has seen a marked reduction in previous divisions. The collective aim is to gear up for the 2029 elections, hinting at a potentially transformative political landscape if all members commit wholeheartedly.

Northern Ireland announces new driving licence laws for young drivers: All you need to know about GDL scheme
Oct 2, 2026
Northern Ireland announces new driving licence laws for young drivers: All you need to know about GDL scheme

A new graduated driver licensing scheme will be rolled out in Northern Ireland on October 1, 2026. This initiative mandates a six-month learning phase for novice drivers before attempting their practical test. Drivers under the age of 24 will also have nighttime restrictions on young passengers, alongside a doubled duration of displaying an R plate for 24 months.

The new fault line | Manipur's Naga-Kuki conflict
Oct 2, 2026
The new fault line | Manipur's Naga-Kuki conflict

The new fault line | Manipur's Naga-Kuki conflict

President Murmu gives assent to Gujarat Uniform Civil Code, state becomes second after Uttarakhand to enact UCC
Oct 2, 2026
President Murmu gives assent to Gujarat Uniform Civil Code, state becomes second after Uttarakhand to enact UCC

Gujarat has officially enacted the Uniform Civil Code after presidential assent received in October. This new law establishes a unified legal framework for marriage, divorce, and inheritance across all religions. Residents must register marriages and live-in relationships within specified timeframes to avoid penalties. Scheduled Tribes and certain groups are exempt from the provisions included in this law. The specific commencement date will be notified by the state government shortly.

President Murmu gives assent to Gujarat Uniform Civil Code, state becomes second after Uttarakhand to enact UCC
Oct 2, 2026
President Murmu gives assent to Gujarat Uniform Civil Code, state becomes second after Uttarakhand to enact UCC

Gujarat has officially enacted the Uniform Civil Code after presidential assent received in October. This new law establishes a unified legal framework for marriage, divorce, and inheritance across all religions. Residents must register marriages and live-in relationships within specified timeframes to avoid penalties. Scheduled Tribes and certain groups are exempt from the provisions included in this law. The specific commencement date will be notified by the state government shortly.

FPIs turn net sellers, pull out Rs 35,860 cr in Sep
Oct 2, 2026
FPIs turn net sellers, pull out Rs 35,860 cr in Sep

In September, foreign portfolio investors shed a staggering Rs 35,860 crore from Indian equities, driven by global uncertainties and rising US interest rates. This selling trend persisted into October with an outflow of Rs 9,232 crore. This selling follows significant investments of Rs 49,830 crore made in July and August.

French 10-year risk premium soars to highest since late 2011
Oct 2, 2026
French 10-year risk premium soars to highest since late 2011

Recent trends show that French 10-year government bond yields are climbing higher against German counterparts, illustrating concerns regarding France's fiscal stability and political landscape ahead of the 2027 presidential elections. Despite efforts to reduce spending through a budget bill, the expected relief for French bonds has been minimal. As inflation and energy costs rise, investors flock towards the safety of German debt, indicating a heightened caution towards lending to France.

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