The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks.
The government is planning to draft rules for the National Company Law Tribunal (NCLT) to deal with Insolvency and Bankruptcy (IBC) cases, according to official sources. The Ministry of Corporate Affairs (MCA) is also looking to fill all vacant posts at various NCLT Benches by August and put in place an IT-enabled system that would use artificial intelligence (AI) for case management. The NCLT, adjudicating authority for matters related to company affairs, was constituted before the IBC came into effect.
Applicants for Indian citizenship under the Citizenship (Amendment) Act 2019 (CAA) can submit any of nine documents, including valid or expired passport, ID cards and land tenancy records, to prove he or she is a national of Afghanistan or Bangladesh or Pakistan.
This will be the second tribunal on sharing of the Krishna waters; the earlier one was set up in 1969.
Sebi, in its first-of-its-kind disgorgement order passed at the end of November last year, had asked the two depositories and 10 entities to pay Rs 115.81 crore (Rs 1.15 billion).
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
Twenty-eight years after a man applied for a job in the postal department, the Supreme Court has ordered his appointment noting that there was an error in holding him ineligible for the post.
Pakistan's suspended trio of Salman Butt, Mohammad Asif and Muhammad Amir on Friday recording their statements to the anti-corruption tribunal of the International Cricket Council in Doha.
The chairman of a special Bangladeshi tribunal trying high-profile 1971 "war criminals" resigned on Tuesday following a controversy over his reported Skype conversation with an expatriate war crimes expert.
Trai contends that the issue does not come under the tribunal's jurisdiction.
Kolkata Knight Riders pacer Pradeep Sangwan was slapped with an 18-month ban from cricket after being found guilty of consuming a banned anabolic steroid by the BCCI's Anti-Doping Tribunal.
A consortium of shareholders with over 30 per cent stake in cash-strapped Byju's might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an 'amicable settlement' or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management. They will vote for a revamp of the existing board, an exercise which would include asking Byju Raveendran to step down as chief executive officer (CEO) and relinquish his operational role, according to sources.
The South African, 32, approached the France-based court in February, 2021 after losing appeals to CAS, sport's highest court, and another plea to the Swiss Federal Tribunal (SFT) in a long-running legal battle against the regulations.
The tribunal called team coach Bob Woolmer, trainer Murray Stevenson and physiotherapist Darren Lifsun to record statements on November 1, after which it will finalise its findings.
Amid disputes between states over water-sharing, Karnataka on Friday demanded setting up of a permanent water dispute tribunal in the Supreme Court and revisiting the Inter State Water Disputes Act to remove "loose ends" in the legislation.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Ticking off the Centre for 'flouting the law' for the last five years, the Supreme Court On Monday set a February 20 deadline to notify Cauvery Water Disputes Tribunal award, saying it has no discretion or choice but to do so.
Broadcast tribunal TDSAT on Monday came down heavily on Zee-Turner for not providing its channels to Tata Sky, a direct-to-home service provider and ordered that the channels should be made available by this evening.
In separate petitions filed at the Telecom Disputes Settlement and Appellate Tribunal, ESPN Software India, MSM Discovery, Zee Turner and Star Den Media Services said the tariff suggested by the sectoral regulator was not commercially viable.
DLF chairman K P Singh, his son and vice-chairman Rajiv Singh, younger daughter and whole-time director at DLF Pia Singh, company directors T C Goyal and Ramesh Sanka had earlier moved the tribunal challenging the October 10 Sebi ban on them.
Colonel Kohli, commanding officer of an artillery regiment in Assam, had taken photographs of civilians splashed with tomato ketchup posing as corpses and gave them to his seniors to stake claim for gallantry award. The incident took place at Bada Nagadun near Silchar in Assam in 2003 and Kohli was dismissed from the Army in November 2004 after a court martial found him guilty.
Benches of the National Company Law Tribunal (NCLT) should not get into questioning a company's default once it is established by the creditors, particularly financial creditors, for admission to the corporate insolvency process. This is one of the key themes of the draft guidelines for the NCLT, which are being finalised by the Ministry of Corporate Affairs (MCA), a senior official said. According to the official, while the company law matters could involve the "principle of natural justice" and justify extended proceedings to hear all parties concerned, the same does not apply to the Insolvency and Bankruptcy Code (IBC) proceedings.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
The government is expected to set up the National Green Tribunal, the first judicial body to deal exclusively with environmental laws, over the next two months or so.
The Appellate Tribunal for Foreign Exchange has upheld the penalties imposed on 10 MNCs, including Ericsson, Nokia and Sony by the Special Director of Enforcement for violating foreign exchange regulations.
Former Air India Executive Director Jitendra Bhargava had filed the appeal questioning the decision of CCI to approve the Jet-Etihad deal without carrying out a detailed assessment.
The private companies want a level playing field so that they can compete with the government companies in fuel retailing.
While disposing of an appeal, it said as far as the prayer for taking steps to save and conserve critically endangered indigenous species of livestock is concerned, it will be open for the appellant to make a representation to the state governments concerned.
Rat-hole mining may be illegal but the talent and experience of rat-hole miners were used in the rescue operation to save the 41 workers trapped in the Silkyara tunnel, a National Disaster Management Authority member said on Tuesday.
'The othering of religious groups inevitably leads to violence.' 'It is sadly a narrative that has echoed through the centuries since man first discovered God.'
From banks and credit card firms to mobile operators, everyone is using the power of SMS to reach out to potential customers and now, even Telecom Disputes Settlement And Appellate Tribunal has jumped the SMS bandwagon.
The decision is seen as a stinging blow to the US administration
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
There was no progress in the formation of a new coalition government in Pakistan on Tuesday as top leaders of the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP) failed to agree on a power-sharing deal in their latest round of talks, indicating deepening fissures in the country's political landscape.
The parliamentary panel, headed by Bharatiya Janata Party's Sushil Kumar Modi, has also decided to examine remote voting and e-postal ballots for Indians residing abroad.
He is only the agent that can bring them that change for they are quite aware that he has articulated no vision on how to set Pakistan back on the rails, notes Lieutenant General Gautam Moorthy (retd).
The Supreme Court has expressed its anguish at the "bureaucratic attitude" that has left the functioning of several tribunals including the National Green Tribunal and Law Commission in a "pathetic" state of affairs.
The government will set up an Appellate Tribunal to hear appeals regarding decisions of the proposed oil sector regulator, the bill for which is likely to be passed during the winter session of Parliament next month.
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