Jet Airways' cabin crew and ground staff have challenged the Jalan Kalrock consortium's resolution plan, which was approved by the National Company Law Tribunal (NCLT) in June, flagging concerns about pending salaries and retirement benefits. In their petition filed before the National Company Law Appellate Tribunal (NCLAT), the Jet Airways Cabin Crew Association and Bhartiya Kamgar Sena have submitted that dues of all workmen of the airline were not included as part of the Corporate Insolvency Resolution Process (CIRP) cost. In June, NCLT approved Jalan Kalrock Consortium's resolution plan for Jet Airways, which remains grounded for more than two years now.
Kerala-based college lecturer T J Joseph, whose hand was chopped off by activists of an ultra outfit for setting a controversial question paper, filed an appeal before the university tribunal on Tuesday against his dismissal from service by the management of Newman College of Thodupuzha run by a Catholic church.
A company spokesperson said Vodafone has received a copy of the report submitted to the DoT and said the company's accounts are in line with statutory standards set by telecom tribunal Telecom Disputes Settlement And Appellate Tribunal.
The Securities Appellate Tribunal (SAT) on Friday banned Shankar Sharma, director and chief global strategist of broking firm First Global from trading in bourses for one year.
With the church-run Newman college management unrelenting despite the university's directive to revoke the dismissal order, Joseph's sister Stella said her brother has decided to approach the tribunal for reinstating him.
The telecom tribunal TDSAT on Wednesday directed Uninor to pay Rs 6 crore to the government as penalty for delay in rolling out services in two circles, as per its license conditions.
Telecom tribunal TDSAT on Friday directed Uninor to pay 60 per cent of the penalty, demanded by the Department of Telecom (DoT), for failing to roll-out services within the stipulated period.
The Central Bureau of Investigation on Thursday contended before a Delhi court that there is no change in government's stand on withdrawing the case against Italian businessman Ottavio Quattrocchi in the wake of the Income Tax Appellate Tribunal (ITAT) order in the Bofors pay-offs case.
Finance Minister Pranab Mukherjee said the government is examining the decision of the Income Tax tribunal in the Bofors case and will decide the future course of action later.
If a foreign company pays interest on loan for carrying out operations in India it will be allowed tax exemption under the Income Tax Act, 1961, a tax tribunal has ruled.
The trio has been voicing their criticism of Trai's recommendations and have asked the government to dump the report, which according to them are 'retrograde' and 'absurd'.
In an interim order on Monday, the Supreme Court directed that Direct-to-Home (DTH) operators may charge no more than 42 per cent of the rates paid by cable operators for TV channels.
The Telecom Dispute Settlement Appellate Tribunal (TDSAT) upholds government's decision on dual technology for RCom.
A senior European Union representative said here on Tuesday that the body would soon change its Customs laws to address the issue of seizures of Indian generic drug shipments while en route for export to other countries.
Jet is facing insolvency proceedings in the Netherlands as well where it was declared bankrupt after it failed to pay two European creditors.
In a development that would hit the government's revenues, telecom tribunal TDSAT on Friday stayed the hike in spectrum charges for both GSM and CDMA mobile operators.
The bench, headed by Justice Patil, however, allowed a significant leeway for the developers in the judgment by permitting the state-level RERA Authority and the Appellate Tribunal to consider delays on a case-to-case basis, and not to cancel such projects or developers' registration in cases where the delay was caused due to "exceptional and compelling circumstances."
The new limits for filing appeals by the Income Tax department before the Income Tax Appellate Tribunal (ITAT), high courts and the Supreme Court have been revised to Rs 3 lakh, Rs 10 lakh and Rs 25 lakh, respectively, from Rs 2 lakh, Rs 4 lakh and Rs 10 lakh.
The court ruled in a judgment running to over 100 pages that the commission can order an investigation into a complaint of an anti-competitive agreement or abuse of dominant position in the market.
A court has issued a notice to the Pakistan Cricket Board in response to an application by fast bowler Shoaib Akhtar seeking an early hearing of his appeal challenging the one and a half year ban and fine of Rs 7 million imposed on him.
The Bombay high court has admitted an appeal filed by the Income Tax authorities, challenging relief granted to Bollywood star Aishwarya Rai Bachchan by the Income Tax Appellate Tribunal.
In its petition filed before the Appellate Tribunal for Electricity, IOC, supported by sister public sector firms like ONGC, challenged PNGRB's decision to look into the pricing of the two auto fuels contending that the downstream regulator had no jurisdiction to decide the price.
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
A bench headed by Justice S H Kapadia, while disposing of Sebi's plea, also expunged the Securities Appellate Tribunal's observations on Sebi's adjudicating officer Amit Pradhan. Pradhan had imposed a penalty of Rs 1 crore (Rs 10 million) on Goldman Sachs Investment (Mauritius) for furnishing 'false' declarations citing violation of the Sebi(Foreign Institutional Investors) Regulations, 1995.
A bench comprising Justices N K Sodhi and Samar Ray observed that the appeal was 'premature' and dismissed it as 'infructious'. Deepak Mehra, a shareholder of Bharti Airtel who holds around 100 shares aggregating to around Rs 40,000, sought to overturn an informal guidance issued by Sebi on June 22.
What must be worrying the mandarins in the North Block is that the reply of the finance ministry completely contradicts the decision of the SAT in the Goldman Sachs case. Surely we are in for interesting political times.
The TDSAT scrapping the Trai's judgement on channel pricing is a major victory for broadcasters, but could also see consumer prices moving up.
The government is likely to appoint more directors on the board of the crisis-ridden Satyam Computer Services soon. "More directors will be appointed within two days," a senior official of the Ministry of Corporate Affairs said.
'What is being proposed today is completely draconian.' Payal Singh Mohanka on the I&B ministry's plan to amend the Cinematograph Act.
The Supreme Court on Wednesday reserved its judgement on a petition filed by Tata Teleservices challenging the telecom tribunal's order, which classified the company's fixed wireless phone service 'Walky' as limited mobile. TDSAT had ruled that Walky service offered by Tatas was a mobile service, thus the private company was liable to pay a levy called Access Deficit Charge (ADC) to state-owned BSNL as per the interconnect order of telecom regulator Trai.
A bench comprising Justice Aftab Alam and Justice R M Lodha set the open offer price for Zenotech Labs at Rs 113.62 per share, as against Rs 160 per share fixed by the SAT for Daiichi-Sankyo to acquire an additional 20 per cent stake in the company.
The government's contention was that Sahara Airlines Ltd (now JetLite) was promoting the real estate and housing business and area operations of Sahara India Commercial Corporation.
Markets regulator Sebi on Tuesday imposed a penalty of Rs 5 crore on NDTV for its failure to disclose price-sensitive information about VCPL loan agreements but the company denied the charges and said it will appeal against the ruling. The loan agreements had clauses and conditions that substantially affected the functioning of the media company, Sebi said in its order. The regulator said its probe began after receipt of complaints in 2017 from Quantum Securities Pvt Ltd about an alleged violation of rules by non-disclosure of material information to the shareholders about loan agreements with Vishvapradhan Commercial Private Ltd (VCPL).
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) suspension of the US e-commerce giant's 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources. Parallelly, Amazon's Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail's (FRL) asset sale to Reliance Industries (RIL).
Decisions are also being pushed on free allotment of additional spectrum to telecom firms, on extending the licence period for 'dual technology' firms like Reliance Communications/Tata Teleservices etc, and on revising merger and acquisition norms. Given how each of these cases is so controversial, even apart from the issue of propriety, it is unacceptable that a government on its last legs should be taking such decisions.
The Planning Commission on Saturday approved the draft integrated energy policy, which seeks to implement market-based pricing and bring about better coordination among ministries.
The Appellate Tribunal for Electricity has admitted the OMCs' plea challenging the Petroleum and Natural Gas Regulatory Board's power to adjudicate on the matter.
The bench observed that the appellant, Sharma, was on both sides of the trade, that is, he was the buyer as well as the seller, and the buy and sell orders were put into the system at almost the same time.
The government has initiated the process to recruit the remaining two members of the Competition Commission of India (CCI), with an aim to make the anti-trust body fully functional by June 2009.
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