Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying $265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts. Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.
A Singapore court on Thursday granted a four-month moratorium to Indian cryptocurrency exchange WazirX, a period which the embattled firm will use to restructure its business without worrying about legal proceedings. A moratorium offers applicant temporary relief from legal proceedings. WazirX, India's biggest crypto exchange, suffered a major hacking attack in July this year losing close to $230 million.
Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
By picking Rubio and Waltz as his top diplomat and NSA guarantees a continuation of bi-partisan support and further strengthening of India-US relationship under the second Trump administration.
Global cryptocurrency giant Binance has asserted that it never owned or controlled WazirX before or after the embattled Indian exchange was hacked in July that led to a security breach of more than $230 million. Binance added that there was no legal basis for the firm to be liable for claims made against the embattled crypto exchange. It refuted WazirX's claims that the global exchange owns the company, adding that it does not operate the platform.
The fast-growing Indian online gaming sector is facing a significant threat from money laundering, necessitating urgent steps to ensure its sustained success and protect the country's robust digital economy, a report said on Thursday. The essential measures outlined in a report by the Digital India Foundation include forming a dedicated task force for illegal operators, creating a whitelist of legal operators, combating misleading advertisements, and incorporating principles of financial integrity and international cooperation.
With the demand for lower costs in process driven activities and a move away from the high rate, billable hours of legal services, AI platforms are being used internationally in many legal tasks.
A court in Maharashtra's Thane district has sentenced a man to 20 years rigorous imprisonment (RI) for raping a minor girl in 2021, relying on the deposition of the six-year-old victim and other prosecution witnesses.
An estimated 46 million foreign-born persons resided in the United States in 2022, approximately 14 per cent of the total US population of 333 million, according to American Community Survey data from the US Census Bureau.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
The legal battle between Byju's and lenders in the US on the edtech firm's $1.2-billion term loan B (TLB), along with the company skipping an interest payment of $40 million on the loan, has made the other investor Davidson Kempner Capital Management, "extremely concerned", according to the people familiar with the matter. They said Byju's has closed a Rs 2,000-crore ($250 million) round from the US-based investment firm and it may stop or consider slowing down the flow of various tranches of that capital to the company. It may also decide not to provide any new funding or participate in any such round in the future, the sources said.
The Bharatiya Nyaya Sanhita 2023, Bharatiya Nagarik Suraksha Sanhita 2023 and Bharatiya Sakshya Adhiniyam 2023 mark a significant step towards empowering Indian citizens and aim to create a more accessible, supportive and efficient justice system for everyone, official sources said.
The Securities and Exchange Board of India (Sebi) has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country's international financial services centre (IFSC). However, the Indian diaspora is yet to fully embrace this new route. The regulator allowed this route to enhance the fund ecosystem at GIFT City and attract genuine investments from overseas Indians.
In a huge relief, an appellate court in Qatar has commuted the death sentence of eight former Indian Navy personnel, arrested in an alleged case of espionage in August 2022.
The scheme has been launched in the US, the UK, Canada, Australia, New Zealand and the Gulf, and is aimed at helping women who have been deserted by their overseas Indian spouses or are facing divorce proceedings.
With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.
The Chief Justice of India, Justice N V Ramana Saturday said the Legislature needs to revisit laws and reform them to suit the needs of time and people so that they match 'practical realities'.
Mumbai-based Weizmann, part of a diversified group, will take to court its former partner Western Union Holdings, the American money-transfer giant, alleging that the United States-based company has imitated its trademark and logo. This, its lawyers say, constitutes a case of infringement and dilution of its intellectual-property rights.
The Royal Bahrain Hospital in a statement on Friday described Dr. Sunil Rao's tweet, which he had subsequently deleted, as a violation of the hospital's code of conduct.
The outsourcing industry believes the growth of the LPO is expected to be between 50 and 100 per cent. Forrester Research, an independent technology and market research company, has projected the offshoring of 29,000 legal jobs by the end of the year and as many as 79,000 by 2015. When a company files for bankruptcy protection or various forms of bailouts take place in the US, there arises a need for legal work associated with such events.
The cross-sectional survey was conducted among 1,566 healthcare workers from diverse medical institutions across India using a pre-tested, self-administered online questionnaire, which assessed various dimensions of workplace safety.
The verdict in the Google versus Epic Games antitrust case in the US has spread cheer among the Indian gaming and app developers. Ending a three-year legal battle, the San Francisco jury found that Google turned its Play app store and billing service into an illegal monopoly. American video game maker Epic Games, best known for Fortnite, had sued Google in 2020.
India suffered one of its most embarrassing defeat in recent years despite Sunil Chhetri's 94th international goal in his 150th match.
The members who were present at the 93rd BCCI Annual General Meeting (AGM) in Bengaluru on Sunday requested incumbent secretary Jay Shah to speed up the process of finding his successor to keep the transition of power as smooth as possible.
According to the Indian visa policy, Bangladeshi citizens holding diplomatic or official passports are eligible for visa-free entry and a stay of up to 45 days, The Daily Star newspaper said.
'He is convinced that this will help him in the next election.' 'But as we know, the best laid plans of mice and men can go awry.'
After adding 11.7 million workers in the October 2022-September 2023 period from the pandemic lows in April 2021-March 2022, total workers employed in the vast informal sector in India - at 109.6 million - still remains below the pre-pandemic period.
Justice Kohli said the advent of artificial intelligence has caused some concerns amongst the legal fraternity.
Going by the ICC manual, India all-rounder Deepti Sharma's run-out of Charlie Dean in the third women's One-Day International against England, at Lord's on Saturday, was perfectly legal, but it still divided opinion, with some backing it and Englishmen Stuart Broad and James Anderson expressing annoyance.
An official said the incident in the video was about a land parcel bought by Puja's father Dilip khedkar, a retired Maharashtra government officer, in Dhadwali village in Pune's Mulshi tehsil.
'How can a citizen of this country having been a Member of Parliament, and the other who has seen enough of Foreign Service takes no time in saying that what happened in the neighbourhood will happen in India'
Legal sector may be opened up for foreign investment.
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Reuters reported earlier this week that the Competition Commission of India (CCI) has sent a warning notice to the companies expressing concern that the merged entity will effectively have a monopoly on cricket broadcast rights worth billions of dollars, allowing it to squeeze advertisers.
From the time he first rose to prominence during the movement against the then UPA government, Arvind Kejriwal has regularly grabbed headlines for his surprise moves and decisions. Here are 10 such instances.
Edtech company Byju's, which was once India's most valuable start-up worth an estimated $22 billion, will face insolvency proceedings for failure to pay Rs 158.9 crore to cricket board BCCI. The Bengaluru bench of the National Company Law Tribunal (NCLT) on Tuesday allowed bankruptcy proceedings against the firm and appointed an interim resolution professional, suspending the company's board of directors and freezing its assets.
To me he always symbolised the sincere, confident, face of a Bharat whose rise is unstoppable. Ratan Tata was a Rishi who was unquestioningly trusted by people who never saw him and never met him, asserts Tarun Vijay, the former BJP MP.
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