The charge sheet also claimed Fernandez consciously chose to overlook Chandrashekhar's criminal past and continued to indulge in financial transactions with him and both were working in collusion.
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).
Future Retail has shut most of its Big Bazaar stores since February 25 (Friday) and its website is also down as it missed lease payments to Reliance Industries (RIL). RIL will open most of the 200 Future Retail stores as Reliance stores in the next week and it is in the process of taking stock, re-branding, and transferring 30,000 Future Retail and Future Lifestyle employees on to the rolls of its manpower and staffing firm Reliance SMSL, according to a source. The first tranche of stores are set to be opened as early as in the next two days.
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.
Zee Entertainment Enterprises Ltd on Wednesday approached the National Company Law Appellate Tribunal (NCLAT) against the requisition of minority shareholders Invesco and OFI Global China Fund to convene an Extraordinary General Meeting (EGM) to discuss various issues, including removal of managing director Punit Goenka. The media major has challenged the orders of Mumbai-bench of the National Company Law Tribunal, which had on Tuesday directed Zee Entertainment Enterprises Ltd (ZEEL) to filed reply over the petition filed by its minority shareholders by October 7 (Thursday), the next date of hearing. Confirming the development, a ZEEL Spokesperson said: "The company has moved NCLAT in accordance with the due process available under the law."
He is expected to be assigned to a medium-security prison in Otisville, New York, about 70 miles from New York City.
Sanjay Kirloskar, promoter of Kirloskar Brothers, moves Supreme Court to enforce a family settlement signed in 2009.
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.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
Swiss building material major Holcim has said its $6.38 billion deal with Asia's richest man Gautam Adani's group is tax-free. Holcim had on Sunday signed a binding agreement with the Adani Group to sell its business in India -- about a 63 per cent stake in Ambuja Cement, which owns a 54.53 stake in ACC (of which 4.48 per cent is direct shareholding). "So, according to our analysis, it is a tax-free transaction," Holcim CEO Jan Jenisch said while addressing investors after the deal on Monday." When asked about the tax implications, he said: "Never know if any complication arises, but we assume that we will get the 6.4 billion Swiss Francs as net proceeds." As per the deal, Adani Group will acquire Holcim's full stake in Ambuja Cement and ACC for CHF (Swiss franc) 6.4 billion ($6.38 billion).
"We are of the considered opinion that hoisting saffron flag and shouting slogans would not amount to any offence punishable under the Atrocities Act," the judges said.
The ISRO spy case is dead. And yet, not dead.
'If tainted leaders come to power, they may tamper with the files and weaken the cases against them,' says former Lokayukta of Karnataka Santosh Hegde
Google LLC has contended that the information technology rules for digital media are not applicable to its search engine, and urged the Delhi high court on Wednesday to set aside a single judge order which applied the rules on the company while dealing with an issue related to removal of offending content from the internet.
The CIC, the top appellate body in RTI matters, went through the law, orders of the Supreme Court, the Law Commission of India report, submissions of the Central Public Information Officer in the Ministry of Youth Affairs and Sports to conclude that the status, nature and functional characteristics of the BCCI fulfil required conditions of Section 2(h) of the RTI Act.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
'Big legal win in Pennsylvania,' Trump said in a tweet soon after the court gave the ruling. Trump is currently leading in Pennsylvania, but his vote count has reduced considerably over the last one day.
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.
Earlier, an apex court bench had dismissed appeals of nine convicts, including Rajagopal, and upheld the Madras high court verdict awarding life term to them.
'NSE has thousands of employees. It is their institution. So it's a dear family.' 'One should not hurt the morale of these people.'
In January, Sebi had barred Mallya and six former officials of USL from securities markets in a case related to illegal fund diversions.
On Monday, the Appellate Board upheld the compulsory licence granted to domestic firm Natco Pharma last year, against Bayer's patented anti-cancer drug Nexavar.
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.
A bench headed by Chief Justice T S Thakur also sought a response on the question as to whether the recovery tribunals are equipped to decide the loan recovery cases within a fixed time frame, stipulated under the law.
The Supreme Court on Friday set aside NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
The appellate authority which heard the appeals of the 21 Jawaharlal Nehru University students who were penalised in connection with the controversial February 9 event has found all of them guilty of indiscipline even as the financial penalty imposed on some of them has been reduced.
The HC said that it is a fit case where benefit of doubt can be given to the appellants.
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.
Bayer will not accept a ruling by the Intellectual Property Appellate Board in Chennai on Monday, upholding the compulsory licence granted on March 9 last year and it will appeal against the patent office order at the high court in Mumbai, a spokesperson told PTI.
"The underlining theme with which we have been working till now is that we trust the taxpayers and from purely an enforcement agency, we are shifting our focus to being a service-oriented department," says CBDT chairman Pramod Chandra Mody.
The ED had filed an application before a special PMLA court seeking the 'fugitive' tag for Mallya under the Fugitive Economic Offenders' Act, 2018.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
The high court directed Pinjra Tod activists Narwal and Kalita and Tanha to surrender their passports and not to offer any inducement to prosecution witnesses or tamper with the evidence in the case.
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
The Delhi High Court has reduced from 14 to 12 years the jail term awarded to the lone convict in the sensational Dhaula Kuan gangrape case in which a Delhi University student was assaulted in a moving car in 2005.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
An international tribunal has ruled that the Indian government had acted "unfairly" and "inequitably" in annulling a contract between Devas and ISRO's commercial arm Antrix.
'We are going to have plane crashes left, right and centre.'
AG is of the view that there is no point in dragging the matter further when it has already been "struck down" by one international forum, and also by the top Indian court.
