Zee Entertainment Enterprises has sought a termination fee of $90 million (around Rs 748.7 crore) from the Sony Group for calling off the $10 billion merger deal in January this year. It has sought termination fees from two Sony Group entities -- Sony Pictures Networks India (SPNI), now known as Culver Max Entertainment, and Bangla Entertainment (BEPL), according to a regulatory filing from Zee Entertainment Enterprises Ltd (ZEEL) on Thursday.
'The sooner Kalyan Chaubey leaves, the better it is for Indian football'
The Securities Appellate Tribunal on Thursday dismissed an appeal by two Sahara group firms against Sebi in the high-profile case involving refund of about Rs 24,000 crore (Rs 240 billion) with interest to about three crore investors.
63 Moons Technologies that has a claim of Rs 200 crore from Dewan Housing Finance, which is being taken over by the Piramal Group for as low as Rs 37,500 crore against a total claim of close to Rs 85,000 crore, on Tuesday said it will challenge the resolution at the NCLAT shortly. On Tuesday, making an about-turn, the Mumbai bench of the National Company Law Tribunal (NCLT) chaired by HP Chaturvedi and Ravikumar Duraisamy, allowed Piramal Group to take over DHFL under the bankruptcy code for as low as Rs 37,500 crore against a claim of close to Rs 85,000 crore. It had on May 25 asked the committee of creditors to consider the Wadhawans offer of paying back almost Rs 93,000 crore to the lenders and creditors, which was stayed by the NCLAT after the Pirmal group challenged it.
A special tribunal on Wednesday upheld the ban imposed by the Centre on Students Islamic Movement of India, which has links with Pakistan-based terrorist outfits including Lashkar-e-Tayiba and its front, Indian Mujahideen.
Refusing to accept the tribunal's decision, the families said they would take the matter to a higher court, seeking justice for their sons and hoping to unmask the truth behind the fateful encounter.
The ITF tribunal has rejected AITA's contention that its Davis Cup team could face security concerns during the World Group I Play-off tie in Islamabad, paving the way for an Indian tennis team's visit to Pakistan for the first time in 60 years.
The Supreme Court came down heavily on the Centre on Tuesday for failing to take any decision for years on the pension payable to retired regular captains of the Army in accordance with the One Rank One Pension (OROP) scheme and imposed a fine of Rs 2 lakh on it.
Chairman of the Cauvery Water Disputes Tribunal Justice N P Singh has resigned from his post citing ill health. Sources in the water resources ministry said Justice Singh, 80, had sent his resignation papers earlier this week.
A top Madhya Pradesh government official, however, said on Saturday that no such plan has been finalised.
The central government's Great Nicobar development project, proposed around an unprecedented transhipment port, will be executed to keep environmental impact minimal, and is essential as it is of national importance, the government has said amid calls to abort the controversial project due to ecological concerns, the Centre said in an official statement.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
The tribunal passed the order on a plea by four MCD employees, who sought its direction to the municipal body to release their salary for the period between 2006, when they were relieved from their services and 2008, when they were terminated.
The other members of the interim government will be finalised after consultations with various political parties, the press secretary added.
Bangladesh Cricket Board (BCB) on Wednesday confirmed that ODI skipper Shakib Al Hasan has been diagnosed with a retinal condition in his left eye.
Moreover, the process to release those arrested between July 1 to August has started, and many have already been released, it added.
The finance ministry's proposal to set up a National Tax Tribunal has moved a step closer with the law ministry finding no objection with the plan.
HP has been charged with underpaying customs duties while importing products and spare parts.
The bill to amend the law governing Waqf boards proposes far-reaching changes in the Wakf Act, 1995, including ensuring the representation of Muslim women and non-Muslims in such bodies.
In a major victory for Tatas, an arbitral tribunal has awarded Tata Motors a compensation of over Rs 766 crore for the losses incurred because of protests by Trinamool Congress that stalled its small car project at Singur in West Bengal. The tribunal asked the West Bengal government to pay Tata Motors the compensation, along with interest, according to a stock exchange filing by the Mumbai-based auto major on Monday. The company stated that the arbitral tribunal has asked the West Bengal Industrial Development Corp (WBIDC) to pay the company Rs 766 crore compensation, in connection with losses incurred on its manufacturing site in Singur.
Former military ruler Pervez Musharraf's efforts to seek election to parliament from four seats suffered major setbacks on Tuesday when tribunals barred him from contesting the May 11 polls from two constituencies in the Pakistani capital and Punjab province.
Nothing is going to change in a hurry unless attitudes change and punishments are speedy and fair, notes Ramesh Menon.
The creditors of the grounded carrier Jet Airways on Wednesday raised questions over the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium before the insolvency appellate tribunal NCLAT and said it does not align with the resolution plan. Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told the National Company Law Appellate Tribunal (NCLAT) that there are apprehensions about the source of funds, which deposited money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be paid through JKC," ASG submitted before a three-member NCLAT bench headed by chairperson Justice Ashok Bhushan.
While no government notification or order appointing Gaur as chairman has been made public so far, sources in the know said the appointment has been cleared.
The Delhi Development Authority (DDA) has issued notices to Hindu refugees from Pakistan who live near Gurudwara Majnu Ka Tilla in the Yamuna floodplain area asking them to vacate the place, locals claimed on Wednesday.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
The National Green Tribunal Bill, 2009, will be tabled tomorrow in the Lok Sabha for discussion and on December 21 in the Rajya Sabha.
The tribunal has been convened in various cities around the world during the last two years, including New York, London, Berlin, Rome, Brussels and Tokyo.
The apex court dismissed the petition filed by the Navy challenging the Tribunal's verdict against it to consider Commodore A R Vardhan for promotion by a fresh review promotion board.
The Centre had banned SIMI saying its activities were 'detrimental to peace, communal harmony, internal security and maintenance of secular fabric of the country'
Davis Cup: Ramkumar to lead Indian challenge against Pakistan on grass courts
The fate of the $10 billion merger between Zee Entertainment Enterprises and Culver Max Entertainment, formerly Sony Pictures Networks India, is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka leading the merged entity after Sony expressed concerns after market regulator Sebi barred him from holding managerial posts in Zee and any of the entities in a fund-diversion case.
France and Juventus midfielder Paul Pogba has been banned for four years for a doping offence earlier this season.
'It was specifically mentioned in the Gadgil Committee report that this particular area where the colossal landside happened now should be in the Environmentally Sensitive Area under Zone 1.' 'Zone 1 is the most important and ecologically sensitive area, and that it has to be protected entirely.' 'At least 90% of the Wayanad disaster is man-made.'
The National Company Law Tribunal (NCLT) on Thursday allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a $10-billion media company, the biggest in the country. The tribunal also dismissed all objections regarding the merger.
The Supreme Court on Thursday directed Jalan-Kalrock consortium, the new owners of the cash-strapped Jet Airways, to deposit Rs 150 crore in SBI's escrow account by January 31, saying failure to do so will mean that the consortium is not in compliance with the terms of the resolution plan for reviving the airline. The top court, meanwhile, also refused to allow the separate plea of the Jet Aircraft Maintenance Engineers Welfare Association seeking payment of provident fund and gratuity dues, observing if additional money is awarded, the resolution plan will become "unworkable". The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
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