·       It was established under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of the National Company Law Tribunal(s) (NCLT), with effect from 1st June 2016.

·       The NCLAT was established to provide an efficient and specialized forum for addressing matters related to company law, insolvency, and competition law.

·       Serious Fraud Investigation Office (SFIO), like the name suggests, is a fraud investigation agency set up to solve serious, complex frauds under the Companies Act, 2013. It is a statutory institution meant to resolve frauds in the central services and others.

·       Hear appeals against the orders passed by NCLT(s) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC).

·       Hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India (CCI).

·       It also hears and disposes of appeals against the orders of the National Financial Reporting Authority.

·       It is designed to meet the needs of the Indian armed forces operating in deserts and mountainous areas.

Features

·       It can fly at a maximum speed of 288 kmph and has a combat radius of 500 km, which can go up to a service ceiling of 21,000 feet.

·       The helicopter can carry out activities such as Combat Search and Rescue (CSAR), Destruction of Enemy Air Defence (DEAD), operations against slow-moving aircraft and Remotely Piloted Aircraft (RPAs), high-altitude bunker busting operations, counter-insurgency operations in the jungle and urban environments and provide support to ground forces.

·       The helicopter received operational clearance in 2017.

·       The helicopter will be equipped with Helina missiles, the air force version of which is called Dhruvastra.

·       The Helina (HeliNa) missile is an anti-tank guided missile (ATGM) developed by India. The name “Helina” stands for “HELIcopter-launched NAg,” where “Nag” is another ATGM developed by India. Helina is designed to be launched from helicopters, making it a valuable asset for the Indian Armed Forces, particularly in their anti-tank warfare capabilities

·       The Summit of the Three Basins, 2023 concluded with the declaration by the Heads of State and Government of the States.

·       Three Basins Summit, 2023 was held at Brazzaville, capital of the Republic of Congo.

The 7 point declaration includes:

·       Recognise the value of enhanced cooperation between the three basins.

·       Recognise that sovereign management of biodiversity, forests and associated resources of the three basins is essential.

·       Develop solutions together.

·       Pool and capitalise on existing knowledge, experience, resources and achievements.

·       Involve all states and national authorities, including indigenous peoples, youth, women, civil society, academia and the private sector.

·       Encourage financial mobilisation and the development of traditional and innovative financing mechanisms.

·       Establish a sustainable system of remuneration for the ecosystem services provided by the three basins.

The objectives of the summit include:

·       To promote scientific and technical cooperation, strengthen capacities and increase influence in multilateral forums for environmental advocacy.

·       To establish effective global governance to manage environmental and climate challenges on a planetary scale.

·       To develop a common strategy to stimulate investment projects aimed at combating climate change and preserving biodiversity.

·       The name Sesha has been derived from Seshachalam forest in Andhra Pradesh, bordering Karnataka.

·       Under this initiative, the directorate of revenue intelligence of Indian Customs works in collaboration with probe agencies of several other countries to curb illegal trade of timber.

·       The Indian customs department will run the 4th phase of Operation Sesha in collaboration with WCO’s Regional Intelligence Liaison Offices (RILOs) in Asia-Pacific and Middle-East.

·       Phase IV of ‘Operation Sesha’ aims to curb the illegal trade of Timber, including Red Sanders.

·       The use of artificial intelligence could play a huge role in the 4th phase of the operation.

·       World Customs Organization (WCO) was established in 1952 as the Customs Co-operation Council (CCC).

·       It is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations.

·       It is a self-propelled track-based seabed mining system and operates on the flexible riser technique.

·       Flexible riser is a class of flexible pipes which is used to connect subsea pipelines to floating offshore installations.

·       Varaha is lowered to the ocean bed from a surface ship using a high-strength flexible cord system.

·       Once the vehicle reaches the ocean bed, it will be able to move around while the surface ship moves in tandem.

·       It uses a high-power pressure pump system to facilitate the extraction of precious polymetallic nodules. These nodules are pumped from the ocean bed to the surface ship.

·       Last year (2022) National Institute of Ocean Technology (NIOT) successfully conducted deep-sea locomotion trials of ‘Varaha’ at a depth of 5,270 m in the central Indian Ocean.

·       Over a span of 2.5 hours, the surface ship covered a distance of 120 m with Varaha.

·       This achievement marked the world’s deepest dive for an underwater mining machine.