The decision is seen as a stinging blow to the US administration
Benches of the National Company Law Tribunal (NCLT) should not get into questioning a company's default once it is established by the creditors, particularly financial creditors, for admission to the corporate insolvency process. This is one of the key themes of the draft guidelines for the NCLT, which are being finalised by the Ministry of Corporate Affairs (MCA), a senior official said. According to the official, while the company law matters could involve the "principle of natural justice" and justify extended proceedings to hear all parties concerned, the same does not apply to the Insolvency and Bankruptcy Code (IBC) proceedings.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
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.
The government will set up an Appellate Tribunal to hear appeals regarding decisions of the proposed oil sector regulator, the bill for which is likely to be passed during the winter session of Parliament next month.
The Supreme Court has expressed its anguish at the "bureaucratic attitude" that has left the functioning of several tribunals including the National Green Tribunal and Law Commission in a "pathetic" state of affairs.
The tribunal was set up in December 2003 to try members of the former regime for crimes and other violations.
While disposing of an appeal, it said as far as the prayer for taking steps to save and conserve critically endangered indigenous species of livestock is concerned, it will be open for the appellant to make a representation to the state governments concerned.
Embattled Pakistan pacer Mohammad Asif was on Wednesday handed a one-year ban by the Indian Premier League Drugs Tribunal for failing a dope test during the inaugural edition of the Twenty20 tournament last year.
Pakistan has refused to hand over a retired general, who headed the spy agency Inter-Services Intelligence, to an international tribunal investigating war crimes in Bosnia, according to a media report on Tuesday.
The ruling was made by the Securities Appellate Tribunal, an independent quasi-judicial body that rules on appeals against orders passed by the Sebi.
The Tribunal adjourned till Monday this matter, which was listed for 'admission' this morning.
Rat-hole mining may be illegal but the talent and experience of rat-hole miners were used in the rescue operation to save the 41 workers trapped in the Silkyara tunnel, a National Disaster Management Authority member said on Tuesday.
The tribunal said the AOL has been engaging in multiple litigations in order to not pay the fine.
The cellular operators criticised the majority judgement of the TDSAT, which had permitted the WLL services, saying there was no reason given by the two judges to justify their views which were contrary to those of the TDSAT chairman.
'The othering of religious groups inevitably leads to violence.' 'It is sadly a narrative that has echoed through the centuries since man first discovered God.'
The Chicago Tribune points to 'striking inconsistencies surrounding Kathuria, whose campaign is built on highly embellished claims of success as an international business tycoon.'
After six years, the final award of the Cauvery Waters Dispute Tribunal was notified on Wednesday. The move came after the Supreme Court rapped the Centre for delaying the decision. The apex court had set February 20 as the deadline to issue the notification.
The tribunal, while lifting the ban on SIMI, was at pains to make scathing remarks against senior Home Ministry officials as they appeared before it without any preparation about the case.
The parliamentary panel, headed by Bharatiya Janata Party's Sushil Kumar Modi, has also decided to examine remote voting and e-postal ballots for Indians residing abroad.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
An insurance company is liable to pay compensation to the accident victim's kin even if the driving licence of the offending vehicle's driver has expired and not renewed, as an expired licence would not make him an unskilled driver, the Bombay high court has said.
Rivals say the concessions would benefit AirAsia alone.
There was no progress in the formation of a new coalition government in Pakistan on Tuesday as top leaders of the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP) failed to agree on a power-sharing deal in their latest round of talks, indicating deepening fissures in the country's political landscape.
The change may give "secure creditors" the first right to auction an asset in order to recover the dues.
Spectrum refers to the radio frequencies that enable wireless communication. It has been the source of a bitter dispute between mobile operators of the rival GSM and CDMA technologies. In its petition, Tata Teleservices has also demanded immediate allocation of spectrum that is under the contractual obligation in areas in which it has fulfilled its subscriber base criterion.
Brazil coach Dunga has been given a provisional four-match touchline ban in friendlies by the country's disciplinary tribunal after being sent off against Mexico in September. He was dismissed in the 3-1 win over the Mexicans in a friendly for persistant dissent.
The Arbitral Tribunal at London has adjourned the proceedings on the case filed by the Dabhol Power Corporation, pertaining to the invocation of counter guarantee given by the Union government, official sources said in New Delhi on Monday.
In its reply to the Securities Appellate Tribunal (SAT), the Securities and Exchange Board of India (Sebi) said urgent action was warranted against the promoters of Zee Entertainment Enterprises Limited (ZEEL) in the alleged fund diversion case to safeguard the management and protect investors and other stakeholders. It termed the applications made by Essel Group Chairman Subhash Chandra and ZEEL managing director (MD) and Chief Executive Officer (CEO) Punit Goenka as "completely false and misleading" in its response submitted to SAT on June 17. "We have a situation before us where the chairman emeritus and the MD and CEO of this large listed company are involved in a myriad of different schemes and transactions through which vast amounts of public money belonging to listed companies are diverted to private entities owned and controlled by these persons.
The Ministry of Corporate Affairs (MCA) is contemplating an increase to the existing strength of the National Company Law Tribunal (NCLT) benches to handle the growing case load. The ministry is currently analysing the time taken by each bench to dispose of matters and the total number of cases being handled by each bench. "We need to first determine our requirement, given that the NCLT handles both Company Act and insolvency and bankruptcy matters. "The latter constitutes the majority of the case burden.
He is only the agent that can bring them that change for they are quite aware that he has articulated no vision on how to set Pakistan back on the rails, notes Lieutenant General Gautam Moorthy (retd).
Ajit Pawar-led group was the real Nationalist Congress Party when two factions emerged in the party in July 2023, Maharashtra assembly Speaker Rahul Narwekar on Thursday held.
Go First chief executive officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline's staff, seeking their support for revival. While Khona said the company had taken all steps for the airline's revival, Lal put forward the view it would have to raise funds. Employee engagement took place a day after the National Company Law Tribunal (NCLT) admitted the airline's insolvency plea on Wednesday and ordered a moratorium on recoveries.
The Tribunal also refused to give any relief to Commander Vijender Rana and Commander Vinod Kumar Jha on their contention that no court martial was held against them which would have given them an opportunity to defend themselves.
The Tax Tribunal has held that canteen/ catering services provided by a company to its employees are not eligible as 'input services' under the law.
A bench of Chief Justice DY Chandrachud and justices PS Narasimha and JB Pardiwala passed the order after hearing an application of Uttar Pradesh government seeking more time to install and operationalise 100 per cent STP coverage in the state.
While recalling the order, the bench agreed to the contention of the law officer that there was a "breach of principle of natural justice" as the government department was not accorded the hearing.
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
Telecom Disputes Settlement and Appellate Tribunal has clubbed the two cases filed by Bharat Sanchar Nigam Limited challenging Telecom Regulatory Authority of India's decision to reduce the levy collected from private operators.
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