The Supreme Court on Friday deferred the question of Aligarh Muslim University's minority status to a fresh bench and overruled the 1967 judgment that said the university cannot be considered a minority institution since it was created by a central law.
Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the 10 years since 2014 compared to the preceding nine-year period, according to official data.
The Ministry of Corporate Affairs (MCA) is contemplating an increase to the existing strength of the National Company Law Tribunal (NCLT) benches to handle the growing case load. The ministry is currently analysing the time taken by each bench to dispose of matters and the total number of cases being handled by each bench. "We need to first determine our requirement, given that the NCLT handles both Company Act and insolvency and bankruptcy matters. "The latter constitutes the majority of the case burden.
While that created a stir so did the decision on his penultimate day at work with the Supreme Court rechristening its summer vacation "partial court working days", an issue that has led to criticism that the apex court judges enjoyed long breaks.
The Supreme Court of India has dismissed petitions challenging the 1976 amendment to the Constitution that added the terms "socialist", "secular", and "integrity" to the Preamble. The court ruled that the inclusion of these terms, made through amendments, is valid and does not affect the original adoption of the Constitution in 1949.
Sridhar Kalyanasundaram, an independent director of private sector lender Dhanlaxmi Bank, has resigned from the board with effect from September 16. In his resignation letter, Kalyanasundaram has raised issues like factionalism in the board, his differences regarding rights issue and the alleged 'lack of in depth banking knowledge' in other members. This comes after Ravindran Pillai, head of RP Group, who holds 9.99 per cent stake in the bank (largest shareholder), came out with a special notice for removal of Kalyanasundaram.
Delhi deputy Chief Minister and AAP leader Manish Sisodia has been named as an accused in the case.
The ED had attached Sai Resort NX, constructed over the land located at Gut no: 446, Murud in Ratnagiri's Dapoli, in January.
The tribunal was constituted on March 18 for the purpose of adjudicating whether or not there was sufficient cause for declaring the MCJK-Bhat an unlawful association.
'In real estate project insolvency, no one size can fit all.'
A bench of Justices Surya Kant and Ujjal Bhuyan, however, said there can be no straitjacket formula which enumerates that every case concerning the consideration of bail should depend upon the filing of a charge sheet.
It said in a parliamentary democracy, the speaker is an officer of the assembly and performs the function of presiding over the House proceedings and representing the House for all intents and purposes.
The data said the ED filed a total of 176 Enforcement Case Information Reports (ECIRs), equivalent to a police FIR, against existing and ex MPs, MLAs and MLCs which comes to 2.98 percentage of the total 5,906 such complaints filed since the law came into being.
They said the notice was issued, after completion of the probe, under the Foreign Exchange Management Act (FEMA).
The Supreme Court on Tuesday set aside an order of the Calcutta high court in which it acquitted an accused in a sexual assault case and made 'objectionable' observations advising adolescent girls to 'control sexual urges'.
The RBI said the board has been superseded "in view of the defaults by RCL in meeting the various payment obligations to its creditors and serious governance concerns which the Board has not been able to address effectively". It has also appointed Nageswar Rao Y (ex-executive director, Bank of Maharashtra) as the administrator of the NBFC.
In a relief for the Congress, the Income Tax department on Monday told the Supreme Court that it will not take any coercive action against the opposition party for tax demand notices of Rs 3,500 crore approximately in view of Lok Sabha elections.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
She has already challenged her expulsion in the Supreme Court after the Lok Sabha adopted the report of its ethics committee recommending her ouster. The case is listed for hearing on January 3, 2024.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
The Andhra Pradesh High Court on Tuesday stayed a provisional order of Enforcement Directorate attaching Rs 822 crore (Rs 8.22 billion) deposit belonging to Mahindra Satyam in a money laundering case involving former Satyam Chairman B Ramalinga Raju and others.
The Enforcement Directorate on October 18 issued provisional attachment order of the company's fixed deposits worth Rs 822 crore (Rs 8.22 billion) in a money laundering case related to the previous management.
'It has changed the political character of India by ejecting socialism as an ideology from the Constitution of India.'
The possible date for bidders to submit a resolution plan to the adjudicating authority -- National Company Law Tribunal (NCLT) -- is September 27.
A provisional order has been issued under the Prevention of Money Laundering Act against the newspaper's publisher Associated Journals Ltd and its holding company Young Indian, the central probe agency said in a statement.
The Supreme Court on Thursday set aside the Bombay high court verdict cancelling the caste certificate of Amravati MP and BJP leader Navneet Kaur Rana.
In yet another setback for YSR Congress chief Jagan Mohan Reddy, the Enforcement Directorate has decided to take possession of his properties worth Rs 122 crore.
The Enforcement Directorate has upgraded its Look out Circular (LC) issued against Byju's founder and CEO Byju Raveendran in connection with a FEMA probe, seeking to stop him for going abroad. The earlier such alert meant that immigration authorities had to just intimate the agency about his movements through various ports. Official sources said that the over an year old LC was revised sometime back in light of investors' concerns and ongoing adjudication of a FEMA contravention case against Raveendran and some others.
As the government faces heat over corruption and black money, it is planning to bring a law to prevent the misuse of benami transactions, a key source of illicit funds.
The Directorate, which is probing charges of huge illegal investments and hawala transactions against Koda and his associates, got an approval order from the adjudicating authority under the Prevention of Money Laundering (PMLA) Act in New Delhi.
Observing that biased reporting gives rise to public suspicion that the person has committed an offence, a bench headed by Chief Justice D Y Chandrachud said media reports can also violate the privacy of a victim.
'You can wake up a person who is sleeping, but how do you wake up a person who's pretending to sleep.'
The Congress on Friday dismissed as "laughable" the complaint seeking disqualification of its chief Sonia Gandhi from the Lok Sabha for receiving a Belgian honour and said it will give a "strong and fitting reply" to the Election Commission notice to her.
The National Company Law Appellate Tribunal on Monday stayed industrialist Anil Agarwal's Twin Star Technologies' Rs 2,962.02 crore-takeover bid of debt-ridden Videocon Industries. A two-member NCLAT bench headed by its Officiating Chairperson Justice A I S Cheema stayed the order passed by the Mumbai bench of the National Company Law Tribunal on June 9. The National Company Law Appellate Tribunal's (NCLAT) direction came over two petitions filed by unsatisfied creditors -- Bank of Maharashtra and IFCI Ltd. The appellate tribunal has issued notices to the Committee of Creditors, the Resolution Professional of Videocon and the successful resolution applicant Twin Star.
The Central Board of Excise and Customs has decided to prescribe time limits for various activities following representations from the trade and recommendations from the Comptroller and Auditor General of India
External affairs ministry spokesperson Arindam Bagchi said India is engaged with the Qatari authorities on the matter and that the government will continue to extend all legal and consular assistance to the Indian nationals.
Crucial reforms in Muslim personal law, especially laws related to inheritance and adoption, need to be initiated forthwith; historically speaking, without the State's backing, hardly has any reform taken place or allowed to prevail, asserts Mohammad Sajjad.
The National Company Law Tribunal (NCLT) has approved the resolution plan of Twin Star Technologies -- a promoter entity of the Vedanta Resources group -- for the Videocon group. But it has pointed out that the successful resolution applicant is "paying almost nothing" as the amount offered is only 4.15 per cent of total outstanding claim. It noted the hair cut for all the creditors is 95.85 per cent and suggested to both committee of creditors (CoC) and the successful applicant an increase in the payout.
Due to the huge pile-up of visa applications, the US consular officers in the neighbouring country are now adjudicating Indian visa applications where interview requirements have been waived.
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