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RBI Maintains Repo Rate At 6.5% For Seventh Consecutive Time

The Reserve Bank of India (RBI) has opted to maintain the key repo rate at 6.5% to continue its focus on curbing inflation. This marks the seventh consecutive occasion where the 6-member Monetary Policy Committee (MPC) has chosen to stabilise the policy rates. The standing deposit facility (SDF) and marginal standing facility also remain unaltered at 6.25% and 6.75%, respectively.

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Chennai Court Issues Non-Bailable Warrant Against ideaForge CFO, later cancels

News Desk

A Metropolitan Magistrate Court in Chennai has issued a non-bailable warrant (NBW) against Vipul Joshi, Chief Financial Officer of ideaForge Technology Limited, for failing to appear before the court in a cybercrime case linked to the company.

Background of the Case
The case, registered as Case No. CC 1344/2024, involves allegations of intellectual property theft and tampering with equipment. The court had directed Joshi to execute a personal bond of Rs 25,000 along with two sureties of the same amount under Section 91 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) by April 1, 2025. However, Joshi failed to comply, leading to the issuance of the NBW.

Company’s Response
According to ideaForge’s official statement, the case originated from a customer’s attempt to misappropriate the company’s intellectual property and make false representations to state governments. The company claims that the customer initiated misconceived actions to harass them after being prevented from doing so.

Current Status
The interim procedural issues have been resolved, and the warrant has been recalled and cancelled. The company is pursuing the case through legal remedies available under the law, guided by their counsel. The case is being heard in the Metropolitan Magistrate Court in Chennai, which has jurisdiction over such matters

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