Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
A three-member NCLAT bench set aside an earlier order passed by the Kolkata bench of the NCLT and asked the interim resolution professional (IRP) to handover all the assets and records of the company to its board.
The top court said a balanced approach of sustainable development ensuring environmental safeguards needs to be resorted to while dealing with the issue of sand mining.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
Challenging the "illegal" reduction in its claim by the erstwhile resolution professional (RP) in the Jet Airways revival plan, the Punjab National Bank (PNB) has moved the National Company Law Appellate Tribunal (NCLAT) citing discrimination. The NCLAT on Thursday issued notices to RP Ashish Chhawchharia and the committee of creditors on PNB's plea to set aside the insolvency court's approval of the airline's revival plan. It has posted the matter for further hearing on September 21.
Out of 3.3 crore applicants, over 19 lakh people were excluded from the final NRC published on Saturday.
The Supreme Court on Friday set aside NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
The Supreme Court Tuesday extended the stay on criminal proceedings against former Wipro chairman Azim Premji, his wife and others on their plea seeking quashing of summons issued by a Bengaluru court on a "frivolous" and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three companies with a Premji group firm. A bench of justices S K Kaul and M M Sundresh was hearing an appeal filed by Premji challenging the Karnataka high court order of May 15 which had rejected their pleas for quashing of the January 27 summons issued by the trial court.
Semenya has vowed to fight the regulations, but has already lost an appeal to the Court of Arbitration for Sport, and another subsequent plea to the Swiss Federal Tribunal (SFT) asking for the CAS ruling to be set aside.
The government will provide legal support to the excluded people, said Assam Parliamentary Affairs Minister Chandra Mohan Patowary.
The scheme offers waiver of interest, penalty, and prosecution for settling tax disputes.
A battle royale, fought over 15 long years, comes to an end as a prince and a princess -- grandchildren of the legendary Rajmata Gayatri Devi -- get back the Jai Mahal Palace Hotel from their step-uncles.
NCLAT chairman Justice S J Mukhopadhaya dismissed the pleas against Ambani and officials after observing that consent terms agreed upon between RCom and minority shareholders for payment of dues cannot be a ground for initiation of contempt proceedings.
Deloitte had challenged the jurisdiction of the NCLT to ban it, saying section 140(5) of the Companies Act pertains to auditors who are still auditing the company in question while it has already resigned from the service and thus cannot be banned under the given provisions.
Setting aside the NCLAT order, a 3-judge bench headed by Justice R F Nariman, said the two set of creditors will be treated differently during the insolvency proceedings and taking over of a debt-ridden firm by another company.
Tthe government has decided to update the National Population Register under the Citizenship Act, 1955, along with the first phase of Census 2021.
The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on Tuesday as she launched a blistering attack on the Congress for handing over airwaves used by the defence to the private firm for pittance. "It is a fraud of Congress, by Congress (and) for Congress," the minister told reporters as she read out paragraphs from the Supreme Court's January 17 decision allowing winding up of Devas Multimedia because of the fraud.
Air India has asked a New York court to dismiss a petition filed by Britain's Cairn Energy for seizure of its assets to enforce $1.2 billion arbitral awards against the Indian government, saying the litigation was premature as an appeal against the arbitration award was still pending. The petition by the airline, which is separate to Indian government's plea in a Washington court seeking dismissal of Cairn's lawsuit to seek confirmation of the arbitral award, said the New York district court lacks jurisdiction to adjudicate a "mere hypothetical question" or one that depends upon contingent future events that may or may not occur. Cairn first moved a court in the US District Court for the District of Columbia seeking confirmation of the arbitration award and then filed a petition in the New York court to seek declaration of Air India as "alter ego" of the Indian government and so it should be made liable to pay the $1.26 billion arbitral award.
Pakistani cricketer Mohammad Hafeez, on Tuesday, made an appeal to the public to not spread rumours about coronavirus and urged everyone to follow the necessary precautions. Earlier in the day, Pakistan Cricket Board (PCB) announced the postponement of the PSL amid the coronavirus outbreak. It has said the tournament will be rescheduled. However, new dates are yet to be announced.
The Tribunal said the equitable distribution of Mahadayi waters among three states is 'neither necessary nor feasible' at this stage.
The NCLAT, in its December 18, 2019 order, had restrained the company, its board of directors and shareholders from exercising the power under the article against minority members except in exceptional circumstances and in the interest of company. A bench headed by Chief Justice S A Bobde dealt with this issue in its 282-page verdict which set aside the NCLAT's order that had restored Cyrus Mistry as the executive chairman of the USD 100 billion salt-to-software conglomerate.
The Vivaad se Vishwas Tak scheme will be one area where some much-needed revenue can be collected by the government. The scheme can be more successful if some specific steps are taken, says investment advisor Harsh Roongta. This results in a very high tax demand. Investment advisor Harsh Roongta takes you through the maze of appeals and counter appeals.
A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.
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).
The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife on their plea seeking quashing of the summons issued by a Bengaluru trial court on a "frivolous"and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three firms with a Premji group firm. A bench of Justices Sanjya Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy also issued notice to an NGO, Indian Awake for Transparency and others and sought their response. Senior advocates Mukul Rohatgi, A M Singhvi appearing for Premji and others said that the complaint was "mischievous" in nature.
Among manufacturing companies that went to the National Company Law Tribunal (NCLT), chemicals and metal firms witnessed more resolutions while companies in the labour intensive (employment friendly) leather and textile sectors mostly get liquidated, reports Abhishek Waghmare.
SAT observed that complaints were filed six years ago against 16 listed entities, including the registered intermediaries, but were disposed of by the regulator without settling the case.
The Supreme Court on Thursday transferred to the Central Bureau of Investigation the probe into multiple cases against former Mumbai police commissioner Param Bir Singh over allegations of misconduct and corruption.
Markets watchdog Sebi has disposed of adjudication proceedings without imposing any penalty on Reliance Industries Ltd in a matter related to alleged incorrect disclosure of diluted earnings per share in its financial results more than 13 years ago. Sebi decided not to impose any penalty for the alleged violations mainly on two grounds, including that the amendment to the relevant law that made incorrect disclosure of information by a listed company punishable came into force prospectively from March 2019. Besides, the regulator mentioned about its pending appeal before the Supreme Court against a Securities Appellate Tribunal (SAT) order.
Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return $1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand.
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
'Devas will continue to pursue its rights and enforcement actions against India in courts around the world.'
The Supreme Court on Monday appointed former apex court judge Justice R V Raveendran as a mediator to settle the family property dispute involving businessman and former IPL head Lalit Modi and his mother Bina Modi. The apex court observed that counsel appearing for both sides agreed that they would go without any pre-condition and with an open mind to settle the dispute in mediation. "....We also think the issue can be resolved by way of mediation," a bench headed by Chief Justice N V Ramana said. "Accordingly, we appoint Justice R V Raveendran, a retired judge of this court, to mediate and settle the dispute," said the bench, also comprising justices Krishna Murari and Hima Kohli.
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
The closure of BPSL would add about three million tonnes capacity to JSW Steel's existing 18 million tonnes.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
Under the Vivad se Vishwas scheme, the MNCs will have to bring in disputed amount to India, else, the entire money will be considered as loan from subsidiaries on which interest will have to be paid.
'It may be prudent not to plunge into a new online tax appeals system in one go, which could only create more disputes and increase the embarrassingly high tax arrears of the government,' warns A K Bhattacharya.
Jio had launched the inaugural free voice and data plan in September last year, and in December, extended the freebies till March 31, 2017
'Even though the hormonal drugs made me feel constantly sick, the IAAF now wants to enforce even stricter thresholds with unknown health consequences. I will not allow the IAAF to use me and my body again'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances