Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code which bars promoters of defaulting companies from bidding for stressed assets.
The case relates roughly to assessment years 2000-01 to 2002-03 and 2004-05 to 2007-08
The Competition Commission of India has slapped Coal India Ltd with a penalty of Rs 1,773 crore (Rs 17.73 billion) -- the biggest by the watchdog on a company -- over alleged abuse of its monopolistic position.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
Bangladesh's Supreme Court on Wednesday upheld the death penalty for an influential opposition BNP leader Khaleda Zia for committing crimes against humanity.
Of the Rs 4,405 crore unpaid debt of 12 companies, more than half was locked in just one Mumbai-based real estate company, Kohinoor CTNL Infrastructure.
The Board of Control for Cricket in India, is locked in a legal battle with the Service Tax (ST) department, which has demanded an amount of Rs 536 crore (approx) as taxes on cricket board's earnings from royalty and media rights in the last one decade.
In the aftermath of the Karvy incident, lending against third-party collateral facility raises questions over regulations concerning banks and brokers which are at loggerheads. While Sebi and NSDL have ordered the transfer of securities, which were kept as collateral, lenders followed the old business model of sanctioning loan against shares and allegedly overlooked certain parameters. Legal experts feel that this could lead to a collapse of the loan-against-shares market as it raises questions over the sanctity of the pledged securities.
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages.
The regulator, which is already working on new guidelines to avoid repeat of such incidents, is also investigating whether the flash crash of over 15 per cent could have been avoided or contained at an earlier stage by the exchange.
Out of 3.3 crore applicants, over 19 lakh people were excluded from the final NRC published on Saturday.
Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds.
Vodafone's operating loss from India business jumped to 692 million euros in April-September from 133 million euros in the same period last year.
CCI has accused realty player DLF of preparing one-sided agreement with home buyers
The top court was hearing an appeal of the former judge against whom a full court of the Allahabad high court, on September 02, 2006, had resolved to punish him with curtailment of 90 per cent of pensionary benefits with immediate effect.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
The fair market value of an immovable property will be higher from the acquisition cost.
The Competition Commission of India (CCI) is to be congratulated for imposing a large fine, of nearly Rs 1,800 crore (Rs 18 billion), on Coal India Ltd for alleged abuse of its monopolistic position.
As NCLAT chair, lack of basic infrastructure remains Justice Mukhopadhaya's biggest challenge. The lack of permanent staff to take down orders in shorthand and later type them out for him to correct is just one among many. In cases where there are a number of intervening parties and applicants, the courtroom is often so jam-packed that even the senior advocates have failed to find place inside.
For the PMO this is urgent as the Digital India framework would depend on how the telecom companies perform. It is also linked to the proposed auction of 5G airwaves.
Indian promoters Poddars to relinquish control for severance package.
The Supreme Court on Thursday transferred to the Central Bureau of Investigation the probe into multiple cases against former Mumbai police commissioner Param Bir Singh over allegations of misconduct and corruption.
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Stating that there are strong inter-linkages between banks, NBFCs and other deposit-taking entities, he said for monetary policy to be effective and financial markets to remain stable, they should be regulated by the central bank.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
For the June quarter, sales for DLF were down 25 per cent at Rs 1,725 crore (Rs 17.25 billion) over the same quarter a year earlier.
This is one of the rare orders by Sebi where it has barred a bluechip firm and its top promoter/executives.
The stock fell by 24.5 per cent to its 52-week low level of Rs 111.25 in opening trade at the BSE.
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
A Bangladeshi court on Tuesday night granted a last minute reprieve to senior Jamaat-e-Islami leader Abdul Quader Mollah, staying his execution shortly before he was to be hanged for genocide during the country's 1971 liberation war.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Under the new system, put in place as per recommendations of an independent consultant, this 12-month target would apply to all the cases where an investigation has been initiated this year onwards, Sebi Chairman U K Sinha said.
Looking beyond the lesser penalty regime, in its 10th year of existence, the CCI needs more branches, according to experts
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
CBI not to need prior approval to probe corrupt govt officials.
It further said that he cannot live merely on 'past glory' as the trust has been reposed in him for defending the country.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
Selling property below market value can lead to litigation. Tinesh Bhasin offers tips on how to avoid it.
The bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques.
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