A bankruptcy appeals court has scrapped billionaire Anil Agarwal-led Twin Star Technologies' winning bid to take over Videocon Industries Ltd on a plea by some creditors that the money offered imposed a steep Rs 62,000 crore haircut upon banks. The National Company Law Appellate Tribunal (NCLAT) asked creditors to initiate the fresh sale of Videocon, a consumer durables company manufacturing products ranging from air-conditioners to washing machines, for recovery of their unpaid Rs 64,637.6 crore. While a majority of lenders had previously accepted Twin Star Technologies' Rs 2,962.02 crore offer, Bank of Maharashtra (BoM) and IFCI Ltd dissented, saying the amount offered was close to the liquidation value of the bankrupt firm and that they cannot be paid less than the liquidation value.
The Brihanmumbai Municipal Corporation (BMC) on Wednesday urged the Bombay high court to dismiss actor Sonu Sood's petition seeking to restrain the civic body from carrying out demolition at his property in Mumbai.
Acquitting a rape convict, the Bombay high court has held that it would not amount to rape if the consent of the girl in a sexual relationship with her partner was voluntary.
The British government has turned down India's request for the extradition of Tiger Hanif, an alleged aide of underworld don Dawood Ibrahim wanted in India in connection with two bomb blasts in Surat in 1993, the UK home office has confirmed.
Bollywood Actor Salman Khan suffered a second setback on Wednesday when the Bombay high court rejected his bail plea following his conviction and sentencing in the 2002 hit-and-run case earlier in the day.
It observed that an expert, in such a situation, could not have given a different opinion and said, "It was unjust to attribute any motive to Manocha that he changed his original stand in the written opinion."
A Pakistani doctor who allegedly helped the US to track down Al Qaeda chief Osama bin Laden has sought a fresh probe into his conviction in a treason case.
Gulshan Kumar, also known as the 'Cassette king', was shot dead in August 1997 outside a temple in suburban Andheri.
The Delhi high court on Monday refused to stay an order of a trial court directing Indian Medical Association (IMA) president J A Jayalal not to use the organisation's platform to propagate any religion and cautioning him that loose comments cannot be expected from a person chairing the responsible post.
Justice Yashwant Varma took on record and accepted the statement made by CIC counsel that all endeavour shall be made to decide the appeal expeditiously and in any case within 8 weeks.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
The court also sought an undertaking from Kanhaiya that he will allow the university to function properly and there will be no agitation.
The Bombay High Court on Thursday stayed a new income tax demand of Rs 3,000 crore (Rs 30 billion) on Vodafone India Services in an alleged transfer-pricing case from 2010-11.
Pearl, the 38-year-old South Asia bureau chief for The Wall Street Journal, was abducted and beheaded while he was in Pakistan investigating a story on the alleged links between the country's powerful spy agency Inter-Services Intelligence and Al Qaeda.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
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.
In the second judgment, she said sole testimony of the victim in rape cases is sufficient to fix criminal liability. "However, in the present case, considering the sub-standard quality of testimony of the prosecutrix, it would be a grave injustice to send the appellant behind bars for 10 years, her order said.
Sharif, 70, has been in London since November last year after the Lahore High Court granted him permission to go abroad for four weeks for treatment.
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.
A public authority possesses power only to use it for public good and this imposes a solemn duty on the State to act impartially and to adopt a procedure of allotment of licence which is 'fair play in action,' the Supreme Court has said.
While Khalid was rusticated for one semester and slapped with a fine of Rs 20,000, Bhattacharya was rusticated till July 15 and after July 23 he was barred from the university campus for five years.
Justice Ganediwala this month acquitting a 39-year-old man for groping a minor girl, noting that there was no "skin-to-skin contact with sexual intent" has faced severe flak.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
This would be Trump's third Supreme Court nominee in his first term. Unlike India where Supreme Court judges have a retirement age, judges to the US Supreme Court are appointed for life. The president has already said that he will nominate a woman for the position.
"You can't meddle with patriotism. Everything is alright but patriotism can never be compromised," says retired Supreme Court judge N Santosh Hegde.
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
On January 19, the high court had said that groping a minor's breast without "skin to skin contact" cannot be termed as sexual assault as defined under the POCSO Act.
A division bench dismissed an appeal filed by her against a Maharashtra Control of Organised Crime Act court order, refusing bail to her on medical grounds.
Having declared democracy in danger at a famous press conference in January, the newly sworn-in chief justice's stint of 1 year and 44 days will be keenly watched for what he does to defend this ideal
The Madras High Court has set aside a notification of the central government, fixing 120 kmph as the speed limit for vehicles plying on highways.
Groping a minor's breast without 'skin to skin contact' cannot be termed as sexual assault as defined under the Protection of Children from Sexual Offences (POCSO) Act, the Bombay high court has said.
Such was the terror created by the ATS, that all their relatives stayed away.
Turns down firm's plea for stay on CCI order; final order pending
Judge Srikanth 'Sri' Srinivasan is the front-runner to replace the late Justice Anthony Scalia on the US Supreme Court.
'Invoking 133 (2) of the Karnataka Education Act-1983, which says a uniform style of clothes has to be worn compulsorily. The private school administration can choose a uniform of their choice,' the government order said.
Michel was extradited in an operation under the guidance of National Security Advisor Ajit Doval, the Central Bureau of Investigation said on Tuesday.
The bench also disagreed with the appellants that claim that their nominations were rejected 'arbitrarily and malafidely', saying 'cogent and convincing evidence needs to be led to prove this' and such a finding cannot be arrived at based on mere documents and annexures in a writ petition.
Apart from the charge of indiscipline against them, the students in their pleas had also challenged their punishment, which ranged from rustication for a few semesters to withdrawal of hostel facilities and fines.
Most political leaders in Punjab have come out in the open to oppose him, unlike the early 1980s when political leaders were scared of speaking against Bhindranwale, observes Sudhir Bisht.
