Latest News on May 26 Today: Who are the latest newsmakers right now? Go First flights suspensio, M&M Q4FY23 profit, Court NOC to Rahul Gandh, Satyendar Jain’s bail, new Rs 75 coin to be launched, broader job cuts in Asia, or fresh buzz around IPL Qualifier 2, we at FE bring you the top, trending news from India and around the globe:

GOI clears appointment of Justices RD Dhanuka and SV Gangapurwala as Bombay, Madras HC CJs

On Friday, the Government of India (GOI) issued a notification for the appointment of Justice Ramesh D Dhanuka as the Chief Justice of Bombay High Court. The Centre also notified the appointment of Justice Sanjay V Gangapurwala as the Chief Justice of Madras High Court. Justice Gangapurwala was acting Chief Justice of Bombay High Court. Justice Dhanuka will take oath on Saturday, May 27. Interestingly, he will retire on May 30. As head of the High Court, he is set to have shortest tenure. (READ MORE)

Sebi to issue mutual fund light regulations for passive funds; seeks to ease compliance burden

Markets regulator Sebi will come out with a mutual fund light regulations for passive funds as part of efforts to reduce the compliance burden, foster growth as well as lower costs to investors, a senior official said on Friday. (READ MORE)

‘Boycott gang insulting legacy of own leaders and freedom fighters’: Hardeep Singh Puri

Union minister Hardeep Singh Puri on Friday slammed the Congress and other Opposition parties for boycotting the inauguration of the new Parliament building on May 28 calling them a “boycott gang”, who are insulting their own leaders as well as freedom fighters. (READ MORE)

Go First flights suspension

Go First, a domestic airline, on Friday announced that all their flights have been suspended till 28 May, citing operational reasons. The airline also said a full refund will be issued to the original mode of payment shortly. It also said the company has filed an application for resolution and revival of operations. Go First had on 2 May filed for involuntary insolvency.

M&M Q4FY23 profit up 17.8%

Mahindra & Mahindra (M&M) on Friday posted its fiscal fourth quarter profit at Rs 2,636.67 crore, up 17.8 per cent as against Rs 2,237.36 crore in the corresponding quarter of last year. It posted revenue from operations at Rs 32,365.60 crore, up 24.8 per cent in comparison to Rs 25,934.40 crore in the fourth quarter of FY22. For the full year, the company posted a profit of Rs 10,281.50 crore, up 56.3 per cent from the previous year. “This was driven by successful mega launches in Automotive, steady growth at Farm Equipment, strong operating performance at Financial Services and value unlocking through monetisation/partnerships,” it said in a regulatory filing. The Board also recommended a dividend of Rs 16.25, that is, 325 per cent per equity share of the face value of Rs 5 each for the financial year.

Court NOC to Rahul Gandhi to get passport for 3 years

A Delhi court on Friday granted Congress leader Rahul Gandhi a no-objection certificate (NOC) for issuance of an “ordinary passport” for three years. Gandhi had moved the court after he surrendered his diplomatic passport upon his disqualification as an MP.

“I’m partly allowing your application. Not for 10 years but three years,” the judge told Gandhi’s lawyer. The former Congress chief is an accused in the National Herald case in which BJP leader Subramanian Swamy is the complainant. PTI

Morgan Stanley Asia job cuts

Morgan Stanley is letting go of at least six managing directors, including some key China bankers, as part of broader job cuts in Asia where dealmaking has been stymied by growing China-US tensions and tepid economic growth. Clarence Kwok, who’s focused on mergers and acquisitions in China, Julia Xiao in corporate finance, and Tony Yin on the technology coverage were among managing directors let go, according to people familiar with the moves who asked not to be identified because they’re not authorized to speak publicly. Some of the senior bankers being cut were promoted in the last two years, said the people. Read More

Centre to launch new Rs 75 coin

The Union Finance Ministry will launch a ₹75 coin to mark the inauguration of the new Parliament building. The new Parliament building will be inaugurated by Prime Minister Narendra Modi on May 28. The coin will have a circular shape with a diameter of 44 millimetres. The coin will be made of a quaternary alloy — 50 percent silver, 40 percent copper, 5 percent nickel, 5 percent zinc.

“The face  of the coin shall bear the Lion Capitol of Ashoka Pillar in the center, with the legend ““सत्यमेि जयते” (Satyameva Jayate) inscribed below, flanked on the left periphery with the word “भारत” (Bharat) in Devnagri script and on the right periphery the word “INDIA” in English,” the Finance Ministry notification stated. Read More

Satyendar Jain gets interim bail

Delhi’s former minister and AAP leader Satyendar Jain gets interim bail from Supreme Court grants on medical grounds. A vacation bench of Justices JK Maheshwari and PS Narasimha granted bail to Jain for six weeks to get treated at a private hospital of his choic. Read More

IPL 2023 MI vs GT today:

Mumbai Indians (MI) is all set to lock horns with Gujarat Titans (GT) in the second qualifier of the Indian Premier League (IPL) this evening. The winner of today’s match will take on Mahendra Singh Dhoni-led Chennai Super Kings (CSK) in the final.

While Hardik Pandya-led Gujarat Titans were at the top of the points table, winning 10 of the 14 matches it played, Rohit Sharma’s men were in fourth position, winning eight matches out of the same number of games.

Parliament row resonates across party lines 

Ahead of the Parliament building’s inauguration, Veteran Congress leader and Rajya Sabha MP Digvijaya Singh on Friday said that the new building should be inaugurated by President Droupadi Murmu. Digvijay’s remarks came in the backdrop of the ongoing row over the inauguration of the new Parliament building by Prime Minister Narendra Modi scheduled for May 28. 

On the other hand, Assam Minister and President of Asom Gana Parishad (AGP) Atul Bora has criticised the “undemocratic attitude” of  the Opposition for announcing a boycott of the new Parliament building and has appealed to all political parties to participate in the inauguration ceremony on May 28. “This is a totally undemocratic attitude of the opposition. This is petty politics. I appeal to all political parties to take part in the inaugural ceremony,” Bora said. The AGP is an ally of the BJP-led coalition government in Assam. Opposition parties have accused the government of “sidelining” President Draupadi Murmu. (ANI)

Layoffs hit Meta’s India offices

As part of its already-declared plans of mega job cuts, Meta has sacked several staff from its India offices. Avinash Pant, director of marketing, director and head of media partnerships Saket Jha Saurabh at Meta’s India office are the latest top officials who have been asked to go. In March, the tech giant had announced that it will slash around 10,000 jobs from its global operations.