The Trai's move comes in the wake of sector tribunal Telecom Disputes Settlement and Appellate Tribunal rejecting last month a plea by some private mobile firms.
Company is fighting 2 cases- one challenging the new consent mechanism guidelines, another seeking adjudication proceedings on the insider trading case
The Appellate Tribunal for Electricity has admitted the OMCs' plea challenging the Petroleum and Natural Gas Regulatory Board's power to adjudicate on the matter.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
A Siliguri-based hotelier has challenged a National Company Law Appellate Tribunal (NCLAT) ruling that closed insolvency proceedings against OYO and one of its units, in the Supreme Court. The hearing is scheduled for September 13 before a two-judge Bench. Oyo did not immediately respond to a request for comment.
Government on Wednesday decided to appeal in Supreme Court against telecom tribunal's order rejecting its claim of privilege on certain internal documents which led to the decision to allow basic operators to offer limited mobility services.
The Telecom Disputes Settlement and Appellate Tribunal has decided to charge commission on the petitions, claims and suits for recovery of money or an outstanding amount.
During proceedings at Telecom Disputes Settlement and Appellate Tribunal, counsels appearing for both sides today informed the bench that the issue has been resolved and requested to dispose of the petition.
With investors seeking clarity from the market tribunal SAT on Bharti Airtel's proposed mega deal with MTN, the Sunil Mittal company today said it is still in discussion with the South African firm.
The National Stock Exchange (NSE) has received Rs 300 crore from the Securities and Exchange Board of India (Sebi) following relief from the Supreme Court (SC), which is hearing an appeal by the market regulator in the colocation case. The court on March 20 asked Sebi to return Rs 300 crore to the NSE from the Rs 1,107 crore the exchange had deposited as part of the disgorgement in the case. The NSE had given an undertaking that it will return the entire amount to Sebi if the latter wins its appeal before the SC.
RIL has filed a petition before SAT against Sebi's rejection of its application for 'consent settlement' of a probe into alleged violation of insider trading norms in sale of shares of the company's erstwhile subsidiary RPL.
The Centre had challenged the Income Tax Appellate Tribunal's order, which had held that gifts, including cash and property given by her supporters, was out of love and affection and not taxable.
Differences on pricing of channels persisted between south India-based broadcaster Sun Group and DTH operator TataSky, which feels that rates quoted by Sun were fit for international channels but not regional.
RIL had sought to settle a probe by Sebi into the alleged violation of insider-trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum in 2007.
Passing an interim order, Telecom Dispute Settlement and Appellate Tribunal also directed BSNL to restore RCom's inter- connection within 48 hours of such payment. TDSAT Chairman Justice Arun Kumar said: "I am of a view that the petitioner (Rcom) should deposit an amount of 65 per cent of disputed claim in one week and respondent should restore the connection with 48 hours of the deposit."
Global giants Nokia, Sony and Ericsson were among 11 multinational corporations, whose Indian operations were found guilty of violating foreign exchange regulation by an Appellete Tribunal.
Reliance Industries Ltd had sought to settle certain investigations into alleged violation of insider trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum Ltd, but the application to settle of the matter under Sebi's consent framework was rejected by the regulator.
The Supreme Court refused to give any interim relief to Zee-Turner on Wednesday.
The service tax department had issued notice to Microsoft India in September 2008 demanding Rs 400 crore (Rs 4 billion), which consisted of a duty demand of Rs 255 crore and interest on the amount for three years, over an alleged tax evasion for services provided by the company to its sister concern in Singapore.
The mistrust between the authorities and service providers can end if the contentious issues are addressed as a package deal.
In a nearly 10-year-old case, Sebi on March 24 had banned Reliance Industries and 12 others from equity derivatives trading for one year, while accusing RIL of making 'unlawful gains'.
State-run BSNL on Saturday approached telecom tribunal TDSAT against sector regulator TRAI's decision to cut a levy paid by private operators to the public sector company for its rural operations.
Dependence on advertising remains absolute, with about 90 per cent of revenues coming from it.
The bench observed that it needs more time to study Sebi's view on the matter.
The government has sent show-cause notices to 5 telecom firms including Reliance Communications and Tata Teleservices for alleged understatement of revenues of over Rs 10,000 crore.
SAT has issued order to freeze Subrata Roy's account.
Looks like the Udta Maker makes will get no help from the government
Leading stock exchange NSE's board has given its approval to the Central Bureau of Investigation (CBI) to prosecute its former MD and CEO Chitra Ramkrishna in the co-location scam case, sources said on Monday. The CBI was awaiting the go-ahead of the board of National Stock Exchange of India (NSE) to prosecute Ramkrishna following her arrest in March last year. She was arrested in the co-location scam nearly four years after an FIR was registered by the agency in May 2018.
"Respondent (Zee-Turner) would supply all its 32 channels from all bouquets to the petitioner (Tata Sky) within 48 hours," said TDSAT chairman Justice Arun Kumar, admitting the prayer of Tata Sky, an 80:20 Tata-Star venture, in this regard.\n\n
Tribunal ruling in I-T's favour may open floodgates to claims against other MNCs.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
The Telecom Disputes Settlement and Appellate Tribunal has given the go-ahead to MTNL for recovering Rs 8.7 crore from Data Access.
Now, a retired judge of a High Court with seven years of experience would be eligible for the appointment.
The Competition Commission of India passed a supplementary order last week to modify the agreement between DLF and its apartment buyers, pursuant to a direction from Competition Appellate Tribunal that is hearing the company's appeal against monetary penalty and other sanctions imposed on it by CCI for abuse of market dominance.
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
Taxman will not breathe on you if you have taken a cash loan from a family member, provided you can explain the reasons for doing so, as per a recent tax tribunal ruling.
Cash deposits of up to Rs 2.5 lakh by housewives post demonetisation will not come under I-T scrutiny as the Income Tax Appellate Tribunal (ITAT) has held that such deposits cannot be treated as income of the assessee. Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases. The appellant, a housewife Uma Agrawal of Gwalior, had declared total income of Rs 1,30,810 in her income tax return filed for fiscal 2016-17.
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