HDFC Bank is engaging external legal firms, both domestic and international, to investigate the circumstances surrounding former part-time chairman Atanu Chakraborty's resignation.
These new provisions are expected to help heirs access securities faster.
'A recruiter has no legitimate basis to ask whether you are married, in a same-sex relationship or planning to transition,' says Sonam Chandwani, managing partner at KS Legal & Associates.
Legal database platform India Kanoon has approached the Delhi High Court, challenging a single-judge order that recognised an individual's 'right to be forgotten' and directed the platform to de-index and disable 'name-based search functionality' for certain judicial orders.
Proposal forms are often filled by the agent. Check the form after it is filled.
Over the past three years, the appointments of 20 candidates selected through the Institute of Banking Personnel Selection were cancelled or offers were withdrawn due to poor credit history.
IBBI removes sale of company as going concern in liquidation; now only asset sales allowed, shifting focus strictly to terminal liquidation process.
A US court's $1.07-billion default judgment against Byju Raveendran can't be enforced directly in India because the US isn't a "reciprocating territory." Creditors must file a new case in an Indian court.
The Supreme Court of India is examining the conflict between an individual's 'right to be forgotten' and the freedom of the press, focusing on the removal of online news and judicial records related to acquitted individuals.
'Amazon, Meta, Google, Microsoft have large operations in India and rely on smooth trade and data flows.' 'Restrictions could raise their costs, limit AI chip exports, and complicate their India strategies.'
The government is considering initiating a probe by the Serious Fraud Investigation Office (SFIO) against Gensol Engineering and its promoters, according to sources familiar with the matter. "It is under consideration at this stage. A final decision will be taken soon," a government official said.
The recent notification by the Insolvency and Bankruptcy Board of India (IBBI) allowing part-resolution of stressed assets of companies under the insolvency process has sent many resolution professionals (RPs) and committees of creditors (CoCs) back to the drawing board to reassess their strategies for resolving corporate insolvencies.
A consortium of shareholders with over 30 per cent stake in cash-strapped Byju's might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an 'amicable settlement' or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management. They will vote for a revamp of the existing board, an exercise which would include asking Byju Raveendran to step down as chief executive officer (CEO) and relinquish his operational role, according to sources.
Disclosing an individual's income-tax returns is tantamount to violating the person's fundamental right to privacy as recognised by the Constitution.
The Supreme Court referred to a larger bench the legal issues stemming from a plea of BJP leader B S Yediyurappa, including the question whether a prior sanction to prosecute is needed under the Prevention of Corruption Act after a magisterial court order of inquiry. The questions revolve around the interplay between the provisions of the Prevention of Corruption Act and the Code of Criminal Procedure on the issue of prior sanction to prosecute a public servant.
The Supreme Court of India has reserved its verdict on a plea by BJP leader and former Karnataka Chief Minister B S Yediyurappa challenging an order reviving a corruption case against him. The case involves allegations of corruption and criminal conspiracy related to the allocation of industrial land. The court has framed several key legal questions, primarily focusing on the interplay between various provisions of the Prevention of Corruption Act and the Criminal Procedure Code regarding prior sanction to prosecute a public servant. The court has asked Yediyurappa's counsel to file written submissions within two weeks.
From almost 60 per cent as of December 2019, the share of liquidations in the mode of closure of total Insolvency and Bankruptcy Code (IBC) cases came down to 44 per cent till September 2023, data by the Insolvency and Bankruptcy Board of India (IBBI) shows. Experts say the decreasing trend in liquidations under the IBC in India can be largely attributed to the initial economic conditions of companies entering the Corporate Insolvency Resolution Process (CIRP). IBC experts also say the trend shows a certain stabilisation in IBC with the Code now rid of legacy bankruptcy issues.
The ministry of corporate affairs has clarified that companies whose annual general meetings are due in 2021 have to conduct them within the specified time limit and video conferencing is allowed till June 30,2022. MCA has said that its circular should not be construed as conferring any extension of time for holding annual general meetings by the companies under the Companies Act, 2013. "Companies which have not adhered to the timelines shall be liable to legal action under the appropriate provisions of the Act," MCA said. In September, MCA had allowed a two-month extension to the deadline for companies to hold their annual general meeting for the financial year ending March 31, 2021.
The Supreme Court of India has laid down guidelines for courts when ordering DNA tests to ascertain paternity. The court emphasized the need to balance the interests of all parties involved, including the child, parents, and other stakeholders. It also recognized the potential for infringement of privacy and the social stigma associated with illegitimate children. The court stressed that DNA tests should only be ordered when existing evidence is insufficient and when such tests are in the best interests of all parties involved.
Manipal Group chairman Ranjan Pai is in early discussions to invest in Byju's-owned Aakash Educational Services Limited (AESL). According to sources in the know, Byju's founder and chief executive officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore). Raveendran may use the money to repay a large part of the Rs 800 crore loan that Byju's raised from US-based investment firm Davidson Kempner Capital Management in May, after facing a 'technical default', the sources said.
'Lawyers don't know if a particular judge would like being addressed as 'Sir', and thus the colonial terms are 'safe' to use.'
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
Hours ahead of Janata Dal-Secular MP Prajwal Revanna's scheduled return from abroad to face the law over sexual abuse allegations, the Karnataka government on Thursday said the next course of action, such as cancellation of his passport, will follow if he fails to show up as promised.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
An Enforcement Directorate officer was arrested for demanding and accepting a bribe of Rs 20 lakh from a a government employee, the Directorate of Vigilance and Anti-Corruption (DVAC), said on Friday.
Paytm will not be available for download now but there will be no impact on existing users of the app. 'The app was blocked for violation of play policies - a clarification of our policy was released earlier today ahead of the IPL (Indian Premier League) tournament,' Google said in an e-mailed response on Friday.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
The fiasco over the former Delhi law minister's college degrees has damaged the reputation of the Aam Aadmi Party, says Nupur Sharma.
In the dock over his alleged fake degrees, former Aam Aadmi Party Minister Jitender Singh Tomar was on Thursday grilled for the second day in Faizabad by the Delhi police which said he would be taken to Bihar on Friday for verification of his law degree.
The prohibitory orders would be in force till September 8, a senior police officer told PTI.
Admittedly, EVMs too have a UID number and any convergence of data can make the secret ballot system a party of history, warns Dr Gopal Krishna in the 5th part of his series against Aadhaar.
Priya Bala of Folomojo.com hits the road!
