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 Securities and Exchange Board of India (Amendment) Bill, 2013 seeks to include the criterion of appointing a retired or serving High Court judge having held the position for seven years for heading the Tribunal.
Go First chief executive officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline's staff, seeking their support for revival. While Khona said the company had taken all steps for the airline's revival, Lal put forward the view it would have to raise funds. Employee engagement took place a day after the National Company Law Tribunal (NCLT) admitted the airline's insolvency plea on Wednesday and ordered a moratorium on recoveries.
The companies have been collecting money through different schemes from investors which has been estimated at several millions.
The Tribunal, in its last hearing in Mumbai on March 23, decided to hold its final hearing in the matter here in the National Capital on March 26.
The two member bench comprising its Chairman Justice S B Sinha and member P K Rastogi differed in theirs findings.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
The Securities Appellate Tribunal on Wednesday directed the Securities and Exchange Board of India (Sebi) to allow PW cross-examination of former key executives of Satyam - former chairman Ramalinga Raju, former managing director Rama Raju, former chief financial officer (CFO) Vadlamani Srinivas and former vice-president (finance) G Ramakrishna.
Attorney General K K Venugopal on Wednesday defended The Tribunals Reforms Act of 2021 in the Supreme Court and said that many times the top court through its judgments had waded "into the policy domain" and it should "keep in mind separation of powers".
The Pakistan Cricket Board (PCB) has returned an amount of seven million rupees to Shoaib Akhtar which it had deducted from the former fast bowler's earnings as part of a fine imposed on him years ago. An official of the board said that during a meeting between Chairman of the executive committee, Najam Sethi and Akhtar, the matter was amicably resolved.
Admitting Sahara's plea, a bench headed by Chief Justice S H Kapadia listed the matter for further hearing on January 20.
The NCLAT said the RBI cannot restrict it from prohibiting banks from 'asset classfication' and observed that any change in this order would upset the entire resolution process of the IL&FS
After hearing Kingfisher's plea, the COMPAT observed that the CCI had acted beyond its scope in the matter and set aside the penalty.
Vodafone pleaded in High Court that IT department had no jurisdiction in the transfer pricing case because the said transaction was not international and did not attract tax.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
The Telecom Dispute Settlement Appellate Tribunal (TDSAT) upholds government's decision on dual technology for RCom.
Tribunal's direction came during the hearing of a petition filed by Anil Ambani group firm Reliance Fuel Resource Ltd, seeking license for laying pipelines from KG Basin to its upcoming power plant at Dadri, Utter Pradesh. The board had directed Reliance Fuel to apply afresh for a license to build a pipeline from Kakinada to Dadri as there were no guidelines at that time. It asked the company to apply in compliance with new regulations.
A company spokesperson said Vodafone has received a copy of the report submitted to the DoT and said the company's accounts are in line with statutory standards set by telecom tribunal Telecom Disputes Settlement And Appellate Tribunal.
The telecom tribunal TDSAT on Wednesday asked new operators S Tel and Videocon Teleservices to pay 60 per cent of the penalty within two weeks, imposed on them by the Department of Telecom for failing to meet their roll-out obligations.
The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders. Sebi had imposed the fine and also directed the bank on January 21 to transfer Rs 158.68 crore along with 7 per cent interest per annum into an escrow account till the issue of settlement of clients' securities is reconciled. "The fact that the circulars have been violated or not and whether the securities have been rightly invoked by the appellant requires consideration," the tribunal said in an order dated February 19 while giving three weeks time to Sebi to file a reply.
Treats gains on sale of as capital gains, not business income, spares him from huge tax liability.
The Securities Appellate Tribunal on Friday set aside market regulator -- Securities and Exchange Board of India -- order banning Samir Arora, former fund manager with Alliance Capital Management, clearing him of insider trading charges.
In a major victory for the Tata Group, the Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as the executive chairman of the conglomerate.
With the church-run Newman college management unrelenting despite the university's directive to revoke the dismissal order, Joseph's sister Stella said her brother has decided to approach the tribunal for reinstating him.
Google, in its latest appeal to the Supreme Court, has said the Competition Commission of India (CCI) is protecting Amazon's interests after having complained that India's anti-competition body (CCI) had copied part of a European Commission ruling against it for allegedly abusing the market dominance of Android. The latest twist to the Google-CCI case comes as Google filed an appeal in the Supreme Court on June 26, against the National Company Law Appellate Tribunal's (NCLAT's) March 29 order. The tech giant's contention is that the NCLAT failed to apply the "effect analysis" part in the CCI order.
The Supreme Court on Wednesday reserved its judgement on a petition filed by Tata Teleservices challenging the telecom tribunal's order, which classified the company's fixed wireless phone service 'Walky' as limited mobile. TDSAT had ruled that Walky service offered by Tatas was a mobile service, thus the private company was liable to pay a levy called Access Deficit Charge (ADC) to state-owned BSNL as per the interconnect order of telecom regulator Trai.
In its petition filed before the Appellate Tribunal for Electricity, IOC, supported by sister public sector firms like ONGC, challenged PNGRB's decision to look into the pricing of the two auto fuels contending that the downstream regulator had no jurisdiction to decide the price.
In a development that would hit the government's revenues, telecom tribunal TDSAT on Friday stayed the hike in spectrum charges for both GSM and CDMA mobile operators.
A bench headed by Justice S H Kapadia, while disposing of Sebi's plea, also expunged the Securities Appellate Tribunal's observations on Sebi's adjudicating officer Amit Pradhan. Pradhan had imposed a penalty of Rs 1 crore (Rs 10 million) on Goldman Sachs Investment (Mauritius) for furnishing 'false' declarations citing violation of the Sebi(Foreign Institutional Investors) Regulations, 1995.
Amtek Auto was among the first list of 12 companies which were referred by the RBI in 2017 to respective banks for initiation of insolvency process for defaults.
The telecom tribunal TDSAT on Wednesday directed Uninor to pay Rs 6 crore to the government as penalty for delay in rolling out services in two circles, as per its license conditions.
The Competition Commission is understood to have issued demand notices to Google for its failure to pay within the stipulated time the penalties imposed on the internet major for anti-competitive practices, according to sources. Google has filed appeals before the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) two orders in October. The appeals are yet to be heard by the tribunal.
Telecom tribunal TDSAT on Friday directed Uninor to pay 60 per cent of the penalty, demanded by the Department of Telecom (DoT), for failing to roll-out services within the stipulated period.
The Central Bureau of Investigation on Thursday contended before a Delhi court that there is no change in government's stand on withdrawing the case against Italian businessman Ottavio Quattrocchi in the wake of the Income Tax Appellate Tribunal (ITAT) order in the Bofors pay-offs case.
Finance Minister Pranab Mukherjee said the government is examining the decision of the Income Tax tribunal in the Bofors case and will decide the future course of action later.
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 Appellate Tribunal for Electricity has set aside an order of Maharashtra Electricity Regulatory Commission against Reliance Energy Ltd on a dispute related to billing complaints by its customers in Mumbai.
The bench observed that the appellant, Sharma, was on both sides of the trade, that is, he was the buyer as well as the seller, and the buy and sell orders were put into the system at almost the same time.
However, the tribunal directed the bourse to deposit Rs 625 crore with Sebi in two weeks.
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