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.
As many as 5,532 complaints were received by the regulator in January, an 80 per cent increase over the number of complaints filed in the previous month.
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.
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 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.
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 National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed on multi-conglomerate ITC by fair trade regulator CCI for not notifying for the acquisition of brands 'Savlon' and 'Shower to Shower' in 2017. ITC had 2017 acquired the antiseptic brand Savlon and the personal care product brand Shower To Shower from Johnson & Johnson Private. The Competition Commission of India (CCI) had on December 11, 2017, imposed a fine of Rs 5 lakh on ITC for alleged failure to give notice under sub-section 2 of Section 6 of the Competition Act.
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.
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.
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.
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.
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.
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.
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.
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.
However, the tribunal directed the bourse to deposit Rs 625 crore with Sebi in two weeks.
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.
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.
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.
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.
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.
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.
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
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.
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.
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'.
"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
Looks like the Udta Maker makes will get no help from the government
Dependence on advertising remains absolute, with about 90 per cent of revenues coming from it.
The Telecom Disputes Settlement and Appellate Tribunal has given the go-ahead to MTNL for recovering Rs 8.7 crore from Data Access.
