The Singapore-based arbitrator, SIAC, has rejected Future Retail's plea to lift the interim stay on its Rs 24,713-crore deal with Reliance Retail, giving a major relief to Amazon that is contesting the transaction. The development comes a day after the Singapore International Arbitration Centre (SIAC) held that Future Retail is a party to the ongoing arbitration between Amazon and Future group in the dispute over the sale of its assets to Reliance Retail. Future had contended before the SIAC that it should be excluded from arbitration proceedings because it is not a party to the dispute between its promoter Future Coupons Pvt Ltd (FCPL) and Amazon.
The company faces $3-bn payout to Econet Wireless.
US e-commerce giant Amazon has written to Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India (Sebi), to take action as is necessary to comply with the Supreme Court Judgment, related to the $3.4-billion merger deal between Future Group and Reliance. Amazon has requested Sebi to direct the Indian stock exchanges to withdraw the Observation Letters related to this deal with immediate effect. In January this year, Sebi had given a go-ahead onto Future Group's scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore ($3.4 billion) deal.
The submission was made by the UN Special Rapporteurs on the promotion and protection of the right to freedom of opinion and expression Irene Khan; on the rights to freedom of peaceful assembly and of association Clement Nyaletsossi Voule; and the right to privacy, Joseph Cannataci.
"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
The Centre pleaded in HC that it is waiting for responses from various states over UCC.
In the wake of the 'hijab' (headscarf) row, the Karnataka government has asked educational institutions to follow existing uniform related rules, until the high court comes out with an order in this regard, next week.
Cutting across party lines, all MPs slammed Pakistan for awarding death sentence to Kulbhushan Jadhav.
The aim is to ensure that such crimes are checked and effective action is taken against the culprits.
The Chinese government on Saturday ordered the release of people detained over a host of coronavirus-related incidents, a day ahead of Beijing's plan to scrap its three-year-old stringently implemented zero-Covid policy.
The New York Times said in a report on Wednesday that in the lawsuit filed in New Jersey federal court and amended last month, BAPS has been accused 'of luring labourers from India to work on temples near Atlanta, Chicago, Houston and Los Angeles, as well as in Robbinsville, New Jersey, paying them just $450 a month'.
Former Pakistan prime minister Imran Khan reiterated his allegations of a foreign conspiracy behind his ouster and said he knew that the 'match was fixed' when a no-confidence motion was moved against him.
Beijing now fears that the fallout of the NSG outcome could have an impact on a crucial verdict expected soon from the Permanent Court of Arbitration in The Hague in a case brought by the Philippines concerning China's territorial reclamation activities in the South China Sea.
The human rights organisation has called for an independent inquiry into the selective leaks of information.
No matter who replaces Sharif, India must maintain its guard, says Col Anil Bhat (Retired).
The Supreme Court Wednesday sought a response from the Future group on Amazon's plea against the January 5 order of the Delhi high court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance. A bench comprising Chief Justice N V Ramana and Justices A S Bopanna and Hima Kohli issued notices to the Future group firms, Future Coupons Private Ltd (FCPL) and Future Retail Ltd (FRL) and said that it will hear the matter on February 23 "without any adjournment". The Delhi high court on January 5 had stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance.
The Supreme Court on Friday suggested that the Centre assist the medical students who had returned to the country from Ukraine in view of the war with Russia by creating a web portal giving details of the foreign universities, where they could complete their courses as per the government's academic mobility programme.
China's stand is that relevant parties should find a solution internally.
While India's High Commissioner Bisaria is in Islamabad, his Pakistani counterpart Moin-ul-Haq is yet to take charge in New Delhi.
Months after one of its campaigners was "offloaded" from a flight, Greenpeace India on Monday claimed that a member of its international staff was denied entry into India despite having valid documents.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
Sticking to their key demand of the repeal of three farm laws to end their protest, farmer leaders on Friday told the government their 'ghar wapsi' can happen only after 'law wapsi' but the Centre insisted talks must be limited to contentious clauses and ruled out a complete withdrawal of Acts.
A day after Adani Group's shares took a beating as Hindenburg Research made damaging allegations against it, the group on Thursday said it is examining legal options to take "punitive action" against the US activist investor for its "reckless" attempt to sabotage a share-sale at the conglomerate's flagship firm. "The maliciously mischievous, unresearched report published by Hindenburg Research on January 24, 2023 has adversely affected the Adani Group, our shareholders and investors. "The volatility in Indian stock markets created by the report is of great concern and has led to unwanted anguish for Indian citizens," the group's lead head Jatin Jalundhwala said in a statement.
Well-known US activist investor Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale. Hindenburg, a US-based investment research firm that specialises in activist short-selling, said its two-year investigation reveals that "the Rs 17.8 trillion ($218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades." The report comes ahead of a Rs 20,000 crore follow-on share sale of Adani Group's flagship Adani Enterprises.
Officials said this was another example of Pakistan misusing higher studies as bait for recruitment in terror groups.
'Modi has presided over an ultra-nationalism that has stunted India's growth, been unable to change the country's external situation, brought foreign intervention into Indian affairs,' explains Aakar Patel.
'People have been infected. They are responsible for it internationally.' 'They only admitted in February that it is infectious. This proves our case.'
Aziz said that when it comes to cases involving the death penalty, the international court has always given a stay order.
The Income Tax Appellate Tribunal has accepted BCCI's submission that the latter's objective is the promotion of cricket and it enjoys the power of holding IPL for achieving its objective, reports Indivjal Dhasmana.
The army has been left to do justice to itself for crimes it is accused of committing against civilians. As a force inside the government, obviously it will want that there be no intrusion into what they do, points out Aakar Patel.
The Transparency International survey found 69 per cent in India as saying they had to pay a bribe, followed by 65 per cent in Vietnam. China was much lower at 26 per cent while the same for Pakistan was 40 per cent.
India and the European Union have failed to arrive at any understanding on the four-year dispute involving two Italian marines accused of murdering two Indian fishermen
'The government must consider that Modiji's vision of India turning into a $5 trillion economy will happen only when there is rule of law in the country.' 'Investors will not invest if these lynchings keep happening.'
India summoned the Pakistani charge d'affaires in New Delhi and lodged a firm protest, expressing grave concerns at this reprehensible incident and the continued attacks on the freedom of religion of the minority communities and their places of religious worship in Pakistan.
'Uttar Pradesh, our largest state by population and the most powerful, is also the worst governed.'
Amazon has asked Sebi to suspend its review of the Rs 24,713 crore Future-Reliance deal and not grant a no objection certification on the ground that its challenge to the agreement was before the Delhi high court. E-commerce major Amazon has written to Sebi again, this time apprising it about the admission of its appeal before the division of the Delhi high court and urged the market regulator to suspend the review of the Future-Reliance Industries Ltd (RIL) deal. This is the eighth letter by Amazon to the Securities and Exchange Board of India (SEBI) chairman Ajay Tyagi since late October. Amazon has been opposing Future group's pact with billionaire Mukesh Ambani's RIL that was signed in August last year.
The Delhi high court on Friday directed the Delhi government and the police to ensure that the number of Afghan nationals, protesting outside the UNHCR office in New Delhi and seeking refugee status, is suitably reduced and they strictly follow Covid-19 appropriate protocol.
Bhushan on August 31 was directed to deposit the fine with the Supreme Court registry by September 15 and failure to comply would entail a three-month jail term and debarment from law practice for three years.
In democratic India, a citizen can be a patriot and at the same time be critical of the government, unlike China which promulgated a national security law in Hong Kong prescribing patriotism to contest elections, observes Rup Narayan Das.
The ISPR has claimed that Jadhav has admitted to his involvement in espionage, terrorist and subversive activities in Pakistan
