As Go First awaits the NCLT verdict on its voluntary insolvency resolution plea, lessors have sought deregistration of nine more aircraft of the crisis-hit airline. In one week, various lessors have approached aviation regulator DGCA for deregistration and repossession of a total of 45 planes of Go First. The National Company Law Tribunal (NCLT) is set to pronounce the order on the carrier's petition on Wednesday.
The Supreme Court has dismissed an appeal filed the customs department against Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL) and others in a case pertaining to alleged over-valuation of imported goods. "We have heard Balbir Singh, Additional Solicitor General appearing for the appellant(s), and Mukul Rohatgi, senior counsel appearing for the respondents, at length. "We are of the considered opinion that the matters are concluded by the findings of fact recorded by the authorities below and the impugned order(s) does not require any interference at our behest.
Aviation regulator DGCA on Monday directed crisis-hit Go First to immediately stop bookings and sale of tickets directly or indirectly till further orders, according to a source. Besides, the watchdog has issued a show cause notice to the budget carrier under the relevant provisions of the Aircraft Rules, 1937, for its failure to continue the operation of the service in a safe, efficient and reliable manner, the source said. Earlier, the airline had suspended the sale of tickets till May 15 and has cancelled flights till May 12.
The National Stock Exchange (NSE) has received Rs 300 crore from the Securities and Exchange Board of India (Sebi) following relief from the Supreme Court (SC), which is hearing an appeal by the market regulator in the colocation case. The court on March 20 asked Sebi to return Rs 300 crore to the NSE from the Rs 1,107 crore the exchange had deposited as part of the disgorgement in the case. The NSE had given an undertaking that it will return the entire amount to Sebi if the latter wins its appeal before the SC.
Chhayakar was found guilty by an ICC Anti-Corruption Tribunal of attempting to influence aspects of the UAE's one-day international series in Zimbabwe in 2019
The three main political parties in Pakistan on Sunday intensified their efforts for the formation of a coalition government after it became clear that the coup-prone country faced a hung Parliament after general elections marred by allegations of rigging.
It will also be new Revenue Secretary Sanjay Malhotra's first GST Council meeting. He will take charge after the incumbent Tarun Bajaj retires on November 30.
The Supreme Court on Monday directed the Maharashtra assembly speaker to spell out the timeline within a week for adjudication of the disqualification petitions filed against Chief Minister Eknath Shinde and Shiv Sena MLAs loyal to him who had tied up with the Bharatiya Janata Party to form a new government in June 2022.
A Division Bench of Justice N Kotiswara Singh and Malashri Nandy in a recent order, passed on a set of 12 petitions, stated that the principle of 'res judicata' (meaning that once the matter has been decided it cannot be reopened by the same parties), was applicable to the Foreigners Tribunals in the state.
The Shiv Sena (UBT) has once again knocked on the doors of the Supreme Court seeking a direction to the Maharashtra assembly speaker to expeditiously adjudicate the disqualification petitions filed against Chief Minister Eknath Shinde and other Sena MLAs, who had tied up with the Bharatiya Janata Party to form a new government in June 2022, in a time-bound manner.
Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
'Rahul Gandhi should have prevented Nitish Kumar from going.' 'He must pacify Mamata Banerjee if he has a cause of Mohabbat Ki Dukaan.' 'He should bring this Mohabbat Ki Dukaan on the political canvas.'
Foreign Office spokesperson Mumtaz Zahra Baloch during her briefing on Friday was asked to comment on the successful soft-landing of the Chandrayaan-3 mission on the Moon.
IPO-bound hospitality major OYO has written to the Ministry of Tourism (MoT) requesting it to intervene and investigate the running of the Federation of Hotel and Restaurant Associations of India (FHRAI) and order eviction of erring executive committee members. The hotel aggregator urged the MoT to take necessary action against FHRAI's "illegally run" Executive Committee and its members who are working for self-interest instead of that of small hotel owners. The representation by OYO alleged that FHRAI's actions are detrimental to small hotel owners.
At least four FIRs related to extortion were registered against Singh in Mumbai and adjoining Thane.
India's top two singles players Sumit Nagal and Sasi Kumar Mukund have conveyed to the national tennis federation that they won't travel to Pakistan for the next Davis Cup tie.
Shoaib Akhtar revealed that he was approached for the Bollywood director Mahesh Bhatt's crime-drama movie Gangster, which released in 2005 with the offer to play the lead role.
According to flight radar, the Indian plane with a ground speed of 454 knots entered north of Lahore at about 7:30 pm on Saturday and returned to India at 8:01 pm, the Dawn newspaper reported.
Regional leaders of the RFEF held a crisis meeting in Madrid on Thursday to discuss Rubiales's future and options for a potential successor, a source told Reuters.
Halep says she sent evidence about the contamination to the ITF in December and hoped her case would be heard by an independent tribunal in February but that it was postponed and then a new date in March had also been put back.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
ECL Finance Company MD and three officials were on Tuesday quizzed for nearly eight hours by the Raigad police in Maharashtra probing the alleged suicide of film art director Nitin Desai, an official said.
The financial creditor had approached district authorities in Raigad to take possession of ND Studio a few months ago.
A strong 6.8 magnitude earthquake with the epicentre in Afghanistan shook Pakistan, killing at least 12 people and injuring nearly 250 others in both the countries, authorities said on Wednesday.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday.
The Delhi government has been following the practice of banning all kinds of firecrackers for the last three years.
The Supreme Court on Friday said it has no reason to "discredit" SEBI, which probed allegations against the Adani group, as there was no material before it to doubt what the market regulator has done and the court does not have to treat what was set out in the Hindenburg report as a "true state of affairs".
In a disciplined force like the Indian Army seniority has all the importance, the Supreme Court said while commuting the life sentence of a non-commissioned officer held guilty for killing his colleague during an altercation over seniority.
Trudeau stopped short of calling for Parliament speaker Anthony Rota to step aside from the role he's held since 2019.
Notwithstanding record revenues in certain media sectors like film exhibition in the July-September quarter (second quarter, or Q2), the operational performance of the broadcasting business remained subdued. Zee Entertainment Enterprises and Sun TV are expected to experience a year-on-year (Y-o-Y) decline in advertising (ad) revenues during this period. Conversely, box office (BO) collections are anticipated to exceed Rs 3,000 crore in the quarter, propelled by a series of successful movie releases.
38 auditors resigned in 2022-23, compared with 46 the previous year.
The Supreme Court on Monday mooted constituting an expert committee for conducting a "complete and comprehensive" study on the carrying capacity of the Himalayan region in the country, where unplanned development has caused devastation in recent times, terming it a "very important issue".
Spain's soccer federation said it would take legal action to defend its president Luis Rubiales.
Fair trade regulator CCI on Thursday alleged that Google has created a digital data hegemony and called for a market space with "free, fair and open competition". Concluding the arguments of the Competition Commission of India (CCI) before the appellate tribunal NCLAT in the Google matter, Additional Solicitor General N Venkataraman said a market with greater freedom for all players would be in total sync with principles of free competition rather than the 'walled garden' approach of the internet major. On October 20 last year, the CCI slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices.
The order, which came on Monday, stated that revenue authorities cannot split the agreement when the parties to the agreement considered the royalty and technical knowhow as a single package.
Attorney General K K Venugopal on Wednesday defended The Tribunals Reforms Act of 2021 in the Supreme Court and said that many times the top court through its judgments had waded "into the policy domain" and it should "keep in mind separation of powers".
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
Their downside is that the donor relinquishes all control over the transferred property, and certain tax implications may also arise.
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