Sunday, August 09
New Delhi: Ahead of the Union Budget, India's nascent private space industry wants the government to classify space assets as critical infrastructure and allocate funds to procure products and services offered by domestic companies."Being a big anchor customer, I think government support has to be around," Awais Ahmed, founder and CEO at Pixxel Space, told PTI.The government has taken good steps by introducing a research, development and innovation fund, and the deep-tech fund, and wants money to start flowing into the capex-heavy businesses having the potential to make India a powerhouse in space and AI sectors, he said.Also read: Budget 2026: India’s space sector seeks triple budget boost and a satellite mission for remote regionsThe Indian Space Association (ISpA) and consultancy firm
New Delhi: The Enforcement Directorate (ED) on Monday said it has attached fresh properties worth over Rs 1,986 crore as part of its money laundering investigation against Chandigarh-based PACL (Pearls Group), accused of orchestrating a Rs 48,000 crore Ponzi scheme. The latest action has taken the total value of assets attached so far in the case to Rs 7,589 crore. In a statement, the agency said it has provisionally attached 37 immovable properties, located in Punjab's Ludhiana and Jaipur in Rajasthan, valued at Rs 1,986.48 crore, under the Prevention of Money Laundering Act (PMLA). A part of the alleged illicit funds generated from this fraud was used for the acquisition of these 37 assets, it said. The ED probe stems from a CBI case against PACL Ltd, its late promoter Nirmal Singh Bhang
