Pakistani-origin Canadian businessman Tahawwur Rana is facing extradition to India after a US appeals court ruled in favor of his extradition. The court’s decision comes after Rana was acquitted in the 2008 Mumbai terror attack case but was found guilty of providing material support to Lashkar-e-Taiba. Rana’s extradition is now pending approval by the US Secretary of State.
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Sebi amends rules to tighten SME IPO norms
Sebi has announced stricter regulations for SME IPOs, requiring a minimum operating profit of ₹1 crore for two of the last three years and capping OFS at 20%. Promoters' excess shareholding will be subject to a lock-in period, and the minimum application size for SME IPOs has been increased to two lots. Additionally, funds raised cannot be used to repay loans from promoters, promoter groups, or related parties. Full Article
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