The National Company Law Tribunal (NCLT) on Friday approved the transfer of ownership of bankrupt-Jet Airways to the Jalan Kalrock consortium and gave the winning bidder more time to pay the dues to the creditors. The latest rulings have come on two petitions filed by the consortium. One plea pertained to approval of transfer of ownership and the second one related to extension of time for the payment of dues to the creditors. Earlier, the tribunal had given time till November 16, 2022 for the consortium to make the payments to the creditors of the airline.
Suspended Pakistan pacer Muhammad Amir was questioned and cross-examined on the fourth day of the International Cricket Council anti-corruption tribunal hearing in Doha on Sunday.
The SAT asked Sebi as to what it was doing all these seven years and why it did not object to the revised IPO documents.
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First's voluntary plea to initiate the insolvency resolution process against the airline. A two-member bench comprising President Justice Ramalingam Sudhakar and L N Gupta also appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company. It has also put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
A peeved special Pakistani tribunal on Thursday asked government to give a written explanation as to why it allowed former military ruler Pervez Musharraf to go abroad.
Dispute relates to premature termination of a deal to buy TCP steel
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Byju Raveendran, the founder and chief executive officer of the beleaguered edtech firm Byju's, said the company credited all pending January salaries to employees over the past few days. This was communicated to the employees in another letter sent on February 4. Byju's has about 15,000 employees. "I know you were told that you would get your salaries by Monday.
Three Islamists from the infamous Al-badr militia were on Monday sentenced to death while five others jailed until death by a special tribunal in Bangladesh for committing crimes against humanity during the 1971 liberation war against Pakistan.
The Supreme Court on Thursday directed the Centre and the Assam government to provide extensive data, including those on the number of Bangladeshi immigrants granted Indian citizenship in Assam between January 1, 1966 and March 25, 1971, while taking note of pleas that illegal immigration has impacted demography and cultural fabric of the border state.
CBI have registered a disproportionate assets case against Meena, an IRS officer of 1977 batch, and claimed to have recovered so far cash of Rs 16 lakh from his possession, sources said.
Indian subsidiary of consumer electronics major Sony has been allowed by income tax tribunal to claim deductions on its expenses on advertisement and sales promotion for calculating its tax liability.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
The Securities Appellate Tribunal (SAT) has stayed the ban imposed by the Securities and Exchange Board of India (Sebi) on Samir Jain, vice-chairman and managing director of Bennett, Coleman & Co (BCCL), his wife Meera Jain, and six others. BCCL owns news media organisations The Times of India, and The Economic Times. Last month, the regulator had refrained Jain from accessing the securities market for allegedly violating minimum public shareholding (MPS) norms in PNB Finance and Industries (PNBFIL) and Camac Commercial Company (CCIL), which are listed on the Calcutta Stock Exchange.
The Securities Appellate Tribunal (SAT) has set aside capital markets regulator Sebi's order that imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding buyback of shares in 2014. Cairn India, which was merged with Vedanta Ltd in 2017, was accused of making a misleading public announcement designed to influence investors' decisions. "We hold that the violations of provisions of... the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations and... the Buyback Regulations are not proved against the company (Vedanta)," a bench consisting of Justice Tarun Agarwala and presiding officer Meera Swarup said.
Virtually indicting former Army chief and Union Minister Gen V K Singh, the Armed Forces Tribunal on Friday quashed the court martial of Lt Gen P K Rath who was punished for his alleged role in a land dealing in West Bengal.
A Judicial member of the appellate tribunal NCLAT has recused himself from hearing a petition filed by tech giant Google, appealing against Rs 936.44 crore penalty imposed by competition watchdog CCI for abusing its dominant position with respect to Play Store policies. On Monday, NCLAT bench Justice Rakesh Kumar and Alok Srivastava ordered Google's appeal to be listed before another bench of which Justice Rakesh Kumar is not a party. It has asked the registry of the National Company Law Appellate Tribunal (NCLAT) to place it before the chairman of the appellate tribunal for this.
A special bench of the Delhi Income Tax Appellate Tribunal has ruled that the income tax that an employer pays on behalf of its employee is a non-monetary benefit in kind and, therefore, exempt from tax.
IBC has been revolutionary in many ways and is a formidable instrument for stress resolution. And despite the room for improvement, the overall effectiveness of IBC in the distress space is unmatched, notes Saloni Kothari.
The GST Council on Saturday clarified that guarantees provided by corporate to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, also cut the GST rate on molasses to 5 per cent from 28 per cent. It also ceded the right to tax Extra Neutral Alcohol (raw product for making alcohol for human consumption) to the states.
A group of unidentified persons vandalised idols of Hindu goddesses in 14 temples in Bangladesh's Baliadangi upazila on Sunday, Dhaka Tribune reported citing a police officer.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
In a first of its kind case that has come up in the Delhi-based principal bench of the Armed Forces Tribunal, a serving army doctor has approached the court for admission to the post graduate degree course being conducted in the army's Research and Referral hospital in New Delhi. The doctor, after having cleared the entrance, was turned out on the pretext of lack of resources and teaching faculty
'He never wanted to break rules': Paul Pogba's representative
It is an important move because 7,300 cases of Armed Forces personnel are pending before the High Courts and Supreme Court.
The three main political parties in Pakistan on Sunday intensified their efforts for the formation of a coalition government after it became clear that the coup-prone country faced a hung Parliament after general elections marred by allegations of rigging.
'Lawyers don't know if a particular judge would like being addressed as 'Sir', and thus the colonial terms are 'safe' to use.'
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'.
The government on Tuesday announced that it will work towards implementing the suggestions made by the Supreme Court while striking down the IMDT act, and said more tribunals would be set up under the Foreigners act.
A member of the drugs inquiry tribunal said fast bowlers Shoaib Akhtar and Mohammad Asif could escape without a ban.
He however clarified that it is ultimately up to the courts to officially ban a political party.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
'Rahul Gandhi should have prevented Nitish Kumar from going.' 'He must pacify Mamata Banerjee if he has a cause of Mohabbat Ki Dukaan.' 'He should bring this Mohabbat Ki Dukaan on the political canvas.'
The National Green Tribunal has refused to order demolition of the Siri Fort Sports Complex, including its squash and badminton courts, in Delhi, but held that the entire complex and its various constructed portions would not be put to any kind of commercial use or non-sport activities.
The government on Monday decided to call off the strategic divestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases. Pawan Hans is a 51:49 joint venture of the government and ONGC. The government had in April last year decided to sell the helicopter service provider for Rs 211.14 crore to Star9 Mobility Pvt Ltd -- a consortium of Big Charter Private Ltd, Maharaja Aviation Private Ltd and Almas Global Opportunity Fund SPC.
The Cabinet Committee on Political Affairs took a decision to this effect in the wake of the scrapping of the IMDT Act by the Supreme Court.
All 23 of the World cup-winning squad including Jenni Hermoso, as well as 32 other squad members, said they would not play internationals while Luis Rubiales remains head of the Royal Spanish Football Federation.
The Kutch region, which was in the forefront of the movement for raising the height of the Sardar Sarovar dam, was not receiving its due share of water in terms of the award of the tribubal.
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