There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
The amendments give committee of creditors of a loan defaulting company explicit authority over the distribution of proceeds in the resolution process and fixes a firm timeline of 330 days for resolving cases referred to the IBC.
He was informed by the PWD authorities that case of religious structure has been thoroughly debated and Religious Committee has recommended to remove it.
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.
It's been a decade of ordeals for the residents of the plush Mayfield Gardens in Gurgaon who are living in their crore plus apartments without basic amenities of water, power and sewage. A Ganesh Nadar reports.
'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
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.
Sanjay Kirloskar, promoter of Kirloskar Brothers, moves Supreme Court to enforce a family settlement signed in 2009.
The mistrust between the authorities and service providers can end if the contentious issues are addressed as a package deal.
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 Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
Dependence on advertising remains absolute, with about 90 per cent of revenues coming from it.
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.
Mahmood Farooqui will walk free from Tihar Jail, with the Delhi high court on Monday acquitting him in a rape case involving a United States researcher, saying it remained doubtful whether any such incident took place.
Simplicity will make the Budget investment-friendly
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
During the proceedings, the counsel appearing for the Trai said the regulator was willing to look into various issues raised by the broadcasters which have opposed the move to put a cap on advertising time.
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
The high court's order came on a plea by acquitted individual and Kusegaon Fruits and Vegetables Pvt Ltd director Asif Balwa that the CBI has not placed on record the mandatory authority under the provisions of the CrPC.
The Singapore high court has put a freeze on deposits of $ 6.122 million following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the Punjab National Bank.
The Tamil Nadu government had, on May 28, ordered the state pollution control board to seal and "permanently" close the mining group's copper plant following violent protests over pollution concerns.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
The order came following an appeal by an RTI applicant who had sought to know the action taken report on the letters written by him to Finance and External Affairs ministries among other public authorities in connection with the illegal wealth stashed abroad.
Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
The department found various expatriates were acting as business heads for Indian operations and certain employees were actively involved in concluding sales for the foreign entities of GE in India.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and purchase of RPL shares in the cash and the futures segments in November 2007.
Promoters must mandatorily deposit 70% of unused fund collected for project in separate bank account
Out of 3.3 crore applicants, over 19 lakh people were excluded from the final NRC published on Saturday.
"Under the law we cannot give consular access to Khubhushan who was involved in spying," Pakistan Military spokesman Major General Asif Ghafoor told reporters.
No promoter is allowed to advertise, market, book, sell or offer for sale, or invite persons to purchase any plot, apartment or building, in a project without registering with the authority.
The Securities Appellate Tribunal has suggested setting up of an Advance Ruling Authority in the capital market headed by a High Court Judge with its order binding on the Securities and Exchange Board of India.
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'.
The Parliament and the Supreme Court buildings are facing serious fire safety issues with the apex court premises not getting safety certificate from the fire authorities for last 10 years.
A Bangladeshi court on Tuesday night granted a last minute reprieve to senior Jamaat-e-Islami leader Abdul Quader Mollah, staying his execution shortly before he was to be hanged for genocide during the country's 1971 liberation war.
A Hindu body has moved the Supreme Court challenging a provision in the 1991 law that provides for maintaining the "religious character" of holy structures as it existed on August 15, 1947, in a bid to open the litigation route to reclaim disputed religious sites other than the Ram Janambhoomi in Ayodhya. The petition, which has challenged Section 4 of the Places of Worship (Special Provisions) Act, 1991, assumes significance in the case of Kashi and Mathura, where two disputed mosques stand.
The Congress and other opposition parties had opposed the amendments.
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