If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
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 Supreme Court on Thursday directed the Centre and the Assam government to provide extensive data, including those on the number of Bangladeshi immigrants granted Indian citizenship in Assam between January 1, 1966 and March 25, 1971, while taking note of pleas that illegal immigration has impacted demography and cultural fabric of the border state.
Bangladeshis on Sunday began voting in the general elections expected to be won by Prime Minister Sheikh Hasina in the absence of the main Opposition Bangladesh Nationalist Party (BNP) which is boycotting it.
'Lawyers don't know if a particular judge would like being addressed as 'Sir', and thus the colonial terms are 'safe' to use.'
Russian former world number one Maria Sharapova was suspended for two years by the International Tennis Federation on Wednesday following her positive test for banned drug meldonium at this year's Australian Open.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
The verdict in Maria Sharapova's appeal against a two-year doping ban will be announced by the Court of Arbitration for Sport (CAS) on Tuesday.
The Court of Arbitration for Sport will rule in the first week of October on five-times grand slam champion Maria Sharapova's appeal against a two-year tennis ban, the sports tribunal said on Tuesday. The 29-year-old Russian was banned by the International Tennis Federation (ITF) in June following a positive test for the banned drug meldonium during January's Australian Open.
Five-times grand slam champion Maria Sharapova is seeking to have her two-year doping ban wiped out or reduced as she lodged an appeal with the Court of Arbitration for Sport (CAS) on Tuesday.
Five-time Grand Slam champion Maria Sharapova is putting her time away from tennis to good use.
The Rajya Sabha on Wednesday passed the Digital Personal Data Protection Bill 2023 by voice vote following a walkout by opposition members over the Manipur issue.
The Supreme Court on Friday said it has no reason to "discredit" SEBI, which probed allegations against the Adani group, as there was no material before it to doubt what the market regulator has done and the court does not have to treat what was set out in the Hindenburg report as a "true state of affairs".
Kamran Akmal voiced his unhappiness at being kept out of the national team despite good performances in domestic cricket.
Serbia's former World No 12 Viktor Troicki has been handed an 18-month suspension by the International Tennis Federation (ITF) after violating doping regulations.
Lenders and shareholders of Reliance Industries Ltd (RIL) will meet on May 2 to demerge the firm's financial services business. This is expected to create a big player in segments including the NBFC (non-banking financial company) space with net worth of Rs 25,851 crore as of March 2022. According to the plan, RIL shareholders will get a share in the demerged entity for each one held in the company.
The Appellate Authority has stayed Rs 1800 crore penalty on Coal India.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
All the convicts belonged to outlawed Jama'atul Mujahideen Bangladesh.
The Central Bureau of Investigation, which is the national central bureau of India to liaison with the Interpol, had sent the request of National Investigation Agency seeking Red Notice against Pannun but it was returned with further queries, they said.
The International Cricket Council slapped eight-year bans on United Arab Emirates (UAE) cricketers Mohammad Naveed and Shaiman Anwar Butt for their alleged role in trying to fix matches in the T20 World Cup qualifier in 2019.
Irrigation woes have contributed to the problem of stubble burning in the state, reports Sarthak Choudhury.
"Law is supposed to be a noble profession," the Supreme Court observed on Thursday, and voiced surprise over how can one of the convicts in the Bilkis Bano gang-rape case and murder of her family members during the 2002 Gujarat riots practise law after his conviction, the remission of his sentence notwithstanding.
In a freewheeling chat with Rediff.com readers former CBI director and author Joginder Singh talks about issues haunting the probe agency, the challenges it faces and its limitations.
PNB Housing Finance on Wednesday said it will disclose the outcome of shareholders' meeting held a day earlier -- on Rs 4,000 crore capital infusion led by Carlyle Group -- in accordance with the order of the Securities Appellate Tribunal next month. The company moved the tribunal on Monday after the capital markets regulator asked it on June 18 not to go ahead with the proposed capital raise plan by allotting preference shares to the investors until it carried out a valuation of shares from an independent registered valuer. The SAT in an order dated June 21 allowed the company to go ahead with the EGM, but restricted it not to announce the voting results by the shareholders, as the matter is pending before the court.
The government on Thursday tabled the Digital Personal Data Protection Bill 2023 in the Lok Sabha with an aim to protect the privacy of Indian citizens, while proposing a penalty of up to Rs 250 crore on entities for misusing or failing to protect digital data of individuals.
Kirloskar siblings Rahul and Atul on Saturday raised questions over corporate governance of Kirloskar Brothers Ltd, led by their warring brother Sanjay, after having been cleared of insider trading charges labelled against them.
Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
Chief Justice Athar Minallah of the Islamabad high court delivered a reserved verdict during which he also fined the petitioner Maulvi Iqbal Haider Rs100,000, the Express Tribune newspaper reported.
Russia's anti-doping agency (RUSADA) still has significant work to do to get its suspension lifted, the World Anti-Doping Agency said on Monday.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
'At the moment the anti-defection law works only in favour of Uddhav Thackeray's Shiv Sena, the original Shiv Sena.' 'The Eknath Shinde camp is at a disadvantage unless they merge with another political party.' 'Otherwise, they will not be saved (from being disqualified).'
Zoysa was provisionally suspended in October 2018 and charged with three offences under the ICC's anti-corruption code
The SET's findings have now been taken on record by the Central Bureau of Investigation which recently raided the 2008-batch Indian Revenue Service officer after it filed an FIR against him for corruption and alleged violation of rules in the raids that took place at the Cordelia cruise berthed at the Mumbai coast on October 2, 2021.
As the feud continues between Zee and Invesco, appellate body NCLAT on Thursday directed the National Company Law Tribunal (NCLT) to give reasonable opportunity to the media major to reply to Invesco's plea for holding a meeting of shareholders, and also remarked that the tribunal made an "error" by not providing sufficient response time. With the order capping a day of fast legal developments at the NCLAT as well as the NCLT within a span of a little over an hour, the spat between Zee Entertainment Enterprises Ltd (ZEEL) and minority shareholder Invesco will now come up for hearing before the NCLT on Friday. Invesco is seeking the ouster of ZEEL MD and CEO Punit Goenka and appointment of six new directors on its board.
Cecchinato in 'dreamland' after stunning David Goffin on Sunday
Antonio Watson won a thrilling World Championship 400 metres gold on Thursday.
Government may also consider giving relief to some of the worst-affected sectors.
A video shared by Qureshi's Pakistan Tehreek-e-Insaf (PTI) party on Twitter shows plain-clothed men taking him away, with him waving at party workers before departing from the location where he was detained.
An independent tribunal of the ITF will now deliberate upon the appeal and make a final decision by November 18.
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