Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
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.
Simplicity will make the Budget investment-friendly
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 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.
Such was the terror created by the ATS, that all their relatives stayed away.
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
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.
'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.'
Dependence on advertising remains absolute, with about 90 per cent of revenues coming from 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.
Recently, an Air India flyer sent a legal notice to the airline seeking damages of Rs 30 lakh for the breach of personal data of 4.5 million passengers, including her husband and herself. Air India had informed the complainant of the data leak a month earlier, after it emerged that its passenger service system provider fell prey to a cyberattack in February. However, in the absence of a data protection law, India lacks a mechanism for compensation or grievance redress of consumers in such cases, say experts. Advocate Virag Gupta, a New Delhi-based cyber law expert, explains that a legal notice is a good beginning in the Air India case, but it raises many questions. These include whether sensitive personal information has been leaked and whether the airline is responsible or not, given that a passenger service system provider was also involved.
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.
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.
'What is being proposed today is completely draconian.' Payal Singh Mohanka on the I&B ministry's plan to amend the Cinematograph Act.
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) suspension of the US e-commerce giant's 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources. Parallelly, Amazon's Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail's (FRL) asset sale to Reliance Industries (RIL).
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.
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.
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 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 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.
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.
Sanjay Kirloskar, promoter of Kirloskar Brothers, moves Supreme Court to enforce a family settlement signed in 2009.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
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.
Promoters must mandatorily deposit 70% of unused fund collected for project in separate bank account
"Under the law we cannot give consular access to Khubhushan who was involved in spying," Pakistan Military spokesman Major General Asif Ghafoor told reporters.
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 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 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'.
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.
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.
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.
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.
Out of 3.3 crore applicants, over 19 lakh people were excluded from the final NRC published on Saturday.
The Congress and other opposition parties had opposed the amendments.
The TDSAT scrapping the Trai's judgement on channel pricing is a major victory for broadcasters, but could also see consumer prices moving up.
Trai member A K Sawhney had been acting as chairman since Nripendra Mishra retired on March 22 this year. Before joining Trai, Sarma was member of the Telecom Disputes Settlement and Appellate Tribunal and is a well-known expert in the field, the regulator said.
