logo
Centre curtails tenure of ED special director Satyabrata Kumar

Centre curtails tenure of ED special director Satyabrata Kumar

Hindustan Times2 days ago

NEW DELHI: The Appointments Committee of Cabinet (ACC) has curtailed the tenure of the Enforcement Directorate (ED) special director, Satyabrata Kumar and repatriated to his parent cadre, the Central Board of Indirect Taxes and Customs.
Kumar, a 2004 batch officer of the Indian Revenue Service (Customs and Indirect Taxes), was shifted as Special Director of Enforcement (SDE) of ED's eastern region in Kolkata in September 2024 and was previously based in Mumbai.
'The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Revenue for curtailment of deputation tenure of Satyabrata Kumar, IRS(C&IT:2004), Special Director of Enforcement, Directorate of Enforcement and his consequent repatriation to his parent cadre with immediate effect,' the ACC order, issued on May 30 said.
Kumar joined ED in 2013 as its joint director in Mumbai and handled high profile cases while heading the Mumbai's units. He was given an extension in 2022 to serve in the federal agency till October 2026.
Officials said it was likely that Kumar was being brought back to his parent cadre for an important assignment in view of his investigation skills and track-record in handling complex economic offences.
Some of the high profile cases investigated by ED under his supervision include ₹12,500-crore Punjab National Bank (PNB) case involving accused fugitive diamantaires Nirav Modi and Mehul Choksi; the alleged ₹9,200 -crore bank loan cases involving fugitive liquor baron Vijay Mallya's defunct airline firm, Kingfisher Airlines Limited; alleged terror-financing cases against the deceased narcotics trafficker, Memon Iqbal Mohammed or Iqbal Mirchi; PMLA case against Yes Bank founder Rana Kapoor, who is an accused in the Yes Bank-Dewan Housing Finance Corporation Limited (DHFL) transactions; and the agency's PMLA probe related to the USD 1 million-plus Mahadev Online Book (MOB) illegal online betting/gaming cases.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India's Tourism Sector Surges: $3.1 Trillion in International Spending Reported by WTTC, ET TravelWorld
India's Tourism Sector Surges: $3.1 Trillion in International Spending Reported by WTTC, ET TravelWorld

Time of India

time18 minutes ago

  • Time of India

India's Tourism Sector Surges: $3.1 Trillion in International Spending Reported by WTTC, ET TravelWorld

Advt Advt Travel jobs set to surpass 370 million worldwide: WTTC The World Travel & Tourism Council (WTTC) projects international visitor spending will hit a record USD2.1 trillion in 2025, signalling continued global growth despite economic headwinds. The sector is expected to contribute USD11.7 trillion to global GDP and support 371 million jobs. However, recovery remains uneven across regions, with markets like the US and China showing slower growth compared to surging destinations such as Saudi Arabia, France, and Spain. See More Details By , ETTravelWorld Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETTravelWorld App Get Realtime updates Save your favourite articles Scan to download App In a landmark rebound for India's travel and tourism sector, the World Travel & Tourism Council (WTTC) has revealed that international visitor spending in India soared to an all-time high of ₹3.1 trillion in 2024 — a 9% increase over pre-pandemic levels in 2019. This record-breaking surge not only reaffirms India's position as a top global destination but also signals a turning point in the country's tourism recovery, once heavily reliant on domestic years of pandemic-induced disruption, the latest WTTC Economic Impact Research (EIR) shows a robust return of international travel. India welcomed 20 million foreign tourists in 2024, surpassing 2019 figures by 2.3 million. With visitor spending reaching ₹3.1 trillion (USD 36.8 billion), up from ₹2.8 trillion in 2019, this influx highlights rising global confidence in India's travel ecosystem and the diverse appeal of its destinations — from spiritual and wellness tourism to luxury and experiential for 2025 are even stronger, with international visitor spending expected to touch ₹3.2 trillion, bolstered by increasing air connectivity, digital visa systems, and rising global interest in India's heritage and natural international arrivals make headlines, domestic tourism continues to be the pillar of India's travel economy. In 2024, domestic visitor spending hit a staggering ₹15.5 trillion (USD 185.6 billion), 22% higher than 2019 levels. This growth is expected to rise further to ₹16.8 trillion in 2025, driven by younger demographics, increased disposable incomes, and a stronger post-pandemic preference for local to the report, domestic tourists contributed nearly 84% of the total visitor spending in 2024, underscoring their foundational role in the country's tourism total Travel & Tourism GDP contribution in 2024 stood at ₹20.9 trillion (USD 249.3 billion), a 20% jump over 2019, accounting for approximately 6.6% of the national economy. WTTC forecasts a further rise to ₹22.5 trillion (USD 268.7 billion) in 2025. By 2035, the sector is expected to nearly double to ₹41.9 trillion (USD 501.1 billion), contributing an estimated 10.9% to the national growth trajectories are expected to be powered by both tourism-driven infrastructure projects — including smart mobility, high-speed rail, and airport expansions — and the rise of small and medium tourism also emerged as a crucial employment generator, supporting a record 46.5 million jobs in 2024 — 9.1% of total employment in India. WTTC anticipates this figure to surpass 48 million in 2025 and climb to nearly 64 million by job creation comes at a time when automation and AI are altering traditional employment landscapes. The tourism sector, which demands human-centric services, thus offers significant employment opportunities across demographics and geographies.A noteworthy insight from the WTTC report is the revival of business travel. India's combined domestic and international business travel spending in 2024 hit ₹1.1 trillion — exceeding 2019 levels by 2.6%. As India continues to be a hub for global trade, innovation, and startup activity, this segment is expected to play an increasingly important role in travel these encouraging trends, WTTC has raised concerns over recent reductions in government funding for overseas tourism promotion. Julia Simpson , President & CEO of WTTC, called for renewed policy attention.'India's Travel & Tourism sector is experiencing unprecedented growth… but visa delays and underinvestment in promotion could hinder long-term momentum," she especially highlighted the need for simplification of India's e-visa and visa-on-arrival processes, pointing to prolonged delays in markets like the US, where appointments remain unavailable until it easier to visit India is one of the fastest ways to unlock further international arrivals and spending,' she bolster advocacy and streamline tourism policies, WTTC has signed a Memorandum of Understanding (MoU) with the World Travel & Tourism Council – India Initiative (WTTCII). The partnership is designed to enhance India's global tourism voice by combining WTTC's international influence with WTTCII's domestic collaboration will focus on aligning India's tourism priorities with international benchmarks, strengthening sustainability practices, and building a unified policy framework to support the sector's rapid India projected to become one of the world's top three tourism economies by 2035, the WTTC report paints a hopeful picture. The combination of rising domestic demand, record-setting international arrivals, and strategic industry-government partnerships places India at a unique vantage point in global sustaining this growth will require targeted investment in tourism infrastructure, tech-enabled services, and global marketing — areas that will determine whether India can fully realise its ambition of being a tourism powerhouse in the years to come.

No objection if Arvind Kejriwal's passport renewed for 10 years: Delhi court
No objection if Arvind Kejriwal's passport renewed for 10 years: Delhi court

Time of India

time20 minutes ago

  • Time of India

No objection if Arvind Kejriwal's passport renewed for 10 years: Delhi court

Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A Delhi court on Wednesday said it had "no objection" if the passport of former Delhi chief minister Arvind Kejriwal, an accused in the Delhi excise policy cases, was renewed for 10 Judge Dig Vinay Singh passed the order in the alleged scam-related corruption and money laundering cases, being probed by the CBI and the ED respectively, considering that Kejriwal would have to take formal permission of the court before travelling abroad."Presently, the applicant is not seeking any permission to travel abroad, obviously as he may not be planning to travel abroad in the immediate near future, but that too cannot come in the way of granting permission to the applicant for renewal of the passport for complete 10 years. After all the bail conditions already prescribes that the applicant shall not travel abroad without formal permission of court," the order judge added, "The applications preferred by Arvind Kejriwal for renewal of his passport is allowed and this court has 'no objection' if the passport ... of the applicant, namely, Arvind Kejriwal is renewed for 10 years as per rules."Both the CBI and the ED opposed Kejriwal's the ED said the renewal of passport should be not granted for a full 10 years, the CBI said the norms followed in different courts of CBI relating to such matters was that the renewal permission was granted for five judge, however, clarified that the order should not in any manner fetter the discretion of the passport authorities in its grant or refusal of the renewal under the Indian Passports Act and the relevant counsel argued that his passport expired in 2018 and he has moved the application seeking its renewal for 10 money laundering case stems from the CBI's FIR which was lodged after Delhi Lt Governor V K Saxena recommended a probe into the alleged irregularities in the implementation of the to the CBI and the ED, irregularities were committed while modifying the excise policy and undue favours were extended to the licence Delhi government implemented the policy on November 17, 2021, and scrapped it by the end of September 2022 amid allegations of corruption.

Rassense Reports FY25 Revenue of INR 471 Cr, Reinforces Leadership in Contract Food Services
Rassense Reports FY25 Revenue of INR 471 Cr, Reinforces Leadership in Contract Food Services

Fashion Value Chain

time44 minutes ago

  • Fashion Value Chain

Rassense Reports FY25 Revenue of INR 471 Cr, Reinforces Leadership in Contract Food Services

Rassense Private Limited, India's largest domestically owned contract food services company, has announced its provisional financial results for the fiscal year ended March 31, 2025. The company reported a 29% year-on-year increase in revenue, reaching INR 471 crore, as it continues to build on its leadership position in the sector. Mr. Sanjay Kumar, CEO & MD, Rassense Pvt Ltd. Founded through a leveraged buyout and the reconstitution of the erstwhile CRCL-backed by Spark Capital AIF-Rassense today delivers over 325,000 meals daily across industrial campuses, educational institutions, and corporate parks. The scale reflects the strength of its integrated, technology-led, and operations-driven model. During FY25, the company expanded its footprint across northern and western India, reinforcing its pan-India presence. EBITDA margins stood at 3.6%, even as Rassense invested nearly 2% of its revenue into technology solutions, robotics-led process automation, ERP governance systems, and employee welfare. These investments demonstrate a clear commitment to institutional readiness and long-term sustainability, rather than short-term margin optimization. 'Our growth strategy is centered on operational excellence through technology that enhances efficiency across the value chain-from procurement to consumption-while maintaining long-term alignment with our clients,' said Sanjay Kumar, MD & CEO of Rassense. Kumar further emphasized that Rassense remains committed to being professionally governed, technologically driven, and deeply invested in best-in-class employee welfare practices. Notably, Rassense is the only Indian food services company to be audited by a global Big Five audit firm. Its continued association with BDO as statutory auditors signals the companys confidence in the robustness of its governance and financial reporting frameworks-especially significant in a sector often marked by fragmentation and poor transparency due to the absence of Input Tax Credit on GST. 'Our 'governance-first' philosophy is at the heart of our ambition to build a nationally scalable enterprise-anchored in compliance, data integrity, and operational excellence,' Kumar added. The company's leadership model is equally progressive. Rassense is led by a diverse executive team, many with formal training in emerging technologies like AI, which directly informs its data-driven operations and decision-making processes. In contrast to industry norms where ownership is concentrated among promoters, Rassense has implemented a share dilution program that extends equity to site-level managers and operational leaders-a model distinct from traditional ESOPs. This inclusive equity approach has fostered a deep culture of ownership among its 4,000+ employees, all of whom are on payroll and receive full statutory benefits. Beyond operations and governance, Rassense is advancing environmental responsibility. Its composting and urban farming programs, built around the reuse of kitchen waste, mark a deliberate shift towards circular food systems. These initiatives reflect Rassense's belief that scalable food services must also be sustainable. Looking ahead to FY26, the company is targeting revenues in excess of INR 564 crore, with growth expected from both existing clients and new verticals. Rassense remains focused on organic growth, with no immediate plans for external fundraising or acquisitions. With its integrated model-rooted in technology, governance, and sustainability-Rassense is setting new benchmarks in Indias evolving food services sector. The company is now well-positioned for its next phase of growth. About Rassense Rassense Private Limited is India's largest Indian-owned contract food services provider, delivering more than 325,000 meals daily across the country. The company employs over 4,000 people, all on payroll, with full statutory entitlements and health coverage. With a focus on technology-enabled scale, professional governance, inclusive leadership, and environmental stewardship, Rassense serves leading industrial hubs, educational campuses, and hospitals across India. For more informations, please visit

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store