The National Company Law Tribunal (NCLT) on Thursday gave crisis-hit Future Retail Ltd (FRL) time till May 12 to submit its reply to the insolvency petition filed against the company by Bank of India. Last week, Bank of India had moved the tribunal seeking to initiate insolvency resolution proceedings against FRL, which has defaulted on loan repayments. The NCLT hearing on Thursday also came against the backdrop of Reliance calling off its proposed Rs 24,713 crore-deal with Future Group after secured creditors voted against it.
During the arguments, the CBI opposed the application saying there was likelihood of Patel fleeing from justice if he was allowed to leave the country.
India will keep its scheduled international passenger flights suspended till January 31 next year, aviation regulator DGCA said on Thursday.
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
The Supreme Court on Monday came down heavily on the ministry of defence over its January 20 communication regarding payment of arrears of One Rank-One Pension (OROP) in installments to eligible pensioners of the armed forces.
Five labourers allegedly involved in the rape of a college student near Mysuru have been arrested, Karnataka DG and IGP Praveen Sood said on Saturday.
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
On Sunday, at 12.07 am in Sriharikota, off the coast of the Bay of Bengal, it was almost like an early Diwali, with the sky lit up by the launch of 36 OneWeb satellites. The Indian Space Research Organisation (Isro) did the launch on a 43.5-metre-tall Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk III) rocket. After the countdown, which started 24 hours in advance, once the mega screen marked the launch, a select group of invitees at the gallery cheered by applauding the feat.
'I was stunned when he started crying and profusely apologising to me, begging me not to lodge a complaint against him because he is a family man and did not want his wife and child to be affected by this incident'
Bollywood actor Jacqueline Fernandez, being probed in a Rs 200 crore extortion case involving alleged conman Sukesh Chandrasekhar, on Wednesday withdrew her application filed before a Delhi court for suspending a lookout circular (LOC) issued against her and permit her to travel abroad.
The coronavirus-induced suspension of scheduled international passenger flights has been extended till October 31, India's aviation regulator DGCA said on Tuesday. "However, international scheduled flights may be allowed on selected routes by the competent authority on a case-to-case basis," the Directorate General of Civil Aviation added. Scheduled international passenger services have been suspended in India since March 23, 2020 due to the coronavirus pandemic.
El-Sisi welcomed Modi, who is on a two-day state visit to Egypt, at the Presidential Palace where the two leaders were closeted for one-on-one meeting after which the two sides signed a memorandum of understandng.
The principal informed the students that they are not allowed to wear hijab inside the classrooms and asked them to remove the head dress and enter classes.
Loans of over Rs 1.8 trillion, for which agreement has been signed by banks, are likely to be referred to IBC.
Leading stock exchanges BSE and NSE have put out comprehensive guidelines for handling technical glitches at members' end in order to prevent disruptions. Under the new framework, members will have to pay Rs 20,000 per day in case of failure to report the incident to the exchanges within the required timeline, BSE and NSE said in separate circulars. The guidelines outline technology infrastructure and system requirements that a member should put in place to prevent any incident of business disruption resulting from technical glitches.
Diversified entity ITC Ltd on Tuesday said it has entered into a partnership with IIT Delhi to support research in identified STEM (science, technology, engineering and mathematics) areas. A memorandum of understanding has been signed to this effect with the institute with an aim to accelerate India's journey towards achieving its sustainable development goals (SDGs), ITC said in a statement. Currently, the areas identified for research are energy storage, low carbon cold transportation, and plastic biodegradation to name a few and will further pave the way for more research in the areas of mutual interest, it added.
The Municipal Corporation of Delhi said it has given special instructions to its Safai Sainiks to collect dishevelled or soiled flags separately.
Prasad's daughter Misa Bharti and a former general manager of the Railways have also been named as accused in the chargesheet filed before a special CBI court recently, they said.
"The Pujari is only a grantee to manage the property of the deity and such grant can be reassumed if the Pujari fails to do the task assigned to him, i.e, to offer prayers and manage the land. He cannot be thus treated as a Bhumiswami," the bench said.
Holding that Air India's conduct appeared to be 'unprofessional', aviation regulator Directorate General of Civil Aviation (DGCA) on Thursday issued notices to the officials and crew of the New York-Delhi flight, asking why action should not be taken against them for 'dereliction' of duty while handling the November 26 'urination' incident.
Markets watchdog Sebi on Friday directed stock exchanges to impose "financial disincentives" on stock brokers for technical glitches at their end, amid instances of snags at the brokers' end impacting the overall trading system. Besides, the stock brokers would have to inform the bourses within one hour of any glitch happening in their trading sysstems as well as submit a preliminary incident report in one day. As part of tightening the regulations, Sebi also said that the bourses should disseminate on their websites the instances of technical glitches occurring in the trading systems of stock brokers along with the Root Cause Analysis (RCA) of such issues.
ersonnel in a revamp that aims to provide cost-effective, reliable, and professionally competent security service at airports. Aneesh Phadnis reports.
The opposition hit the roof and likened rulers of the state to Hitler, Mussolini and Kim Jong Un, though the department came out with a clarification that the controversy was stemmed from 'wrong interpretation' of a paragraph in the missive that ran into many pages.
First two Tests would be played without spectators as per a BCCI directive, considering the prevailing COVID-19 situation.
The Karnataka government on Thursday ordered that the students studying in schools managed by the minority welfare department schools in the state should not wear saffron scarves, hijab or any religious flags.
Justice Devan Ramachandran, in an order issued on Thursday evening, said it was a tragedy that the orders of the court and the competent authorities are 'given absolutely no respect' by persons and entities 'who are in charge of the future of this nation'.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
Seeking to ensure strict adherence to COVID-19 protocols by air travellers, aviation regulator Directorate General of Civil Aviation (DGCA) on Saturday asked airlines to de-board passengers who do not wear their mask 'properly' despite repeated warnings.
Indian companies are required to hold AGMs within six months of closure of the financial year.
The education department official said that the administration did not inform the employees about this rule.
The latest circular from BSE that sought to cap the price movement of select scrips, especially the mid-, small-cap segments, traded on the exchange is not without a reason. A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their market price more than double. Among individual stocks, SC Agrotech, Adinath Textiles, Waaree Renewable Technologies, Steel Strips Infrastructure, Unistar Multimedia, Texel Industries, Raja Bahadur International and Hindustan Everest Tools from the BSE's X and XT group have rallied over 500 per cent during this period. Topping the charts is Gita Renewable Energy, which has zoomed 3,964 per cent to Rs 272.35 now from Rs 6.7 as on December 31, 2020.
The move comes ahead of two retired security experts planning to write a book against the government's Pakistan policy.
But special international flights have been operating under the Vande Bharat Mission since May and under the bilateral 'air bubble' arrangements with selected countries since July.
India has formed air-bubble pacts with around 28 countries, including the United States, the United Kingdom. the United Arab Emirates, Kenya, Bhutan and France.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
In a circular issued on Friday, Additional Chief Secretary (Housing Department) Sanjay Kumar also asked landlords not to drive tenants out of their homes if they fail to pay rents during the current period.
The diamantaire's counsel said there is a vigilance manual circular that the consortium can lodge only one FIR. Each consortium member cannot lodge separate FIRs, he said.
Amid concerns over misleading claims of huge returns on cryptocurrency investment, Prime Minister Narendra Modi on Saturday chaired a meeting on the way forward on the issue, with government sources asserting that such unregulated markets cannot be allowed to become avenues for "money laundering and terror financing".
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
A bench of Justices Ashok Bhushan, Sanjay Kishan Kaul and M R Shah said industries and employees need each other and they should sit together to arrive at a settlement on the issue of payment of wages.
