A decision to approve an amendment to the act was taken at the Union Cabinet's meeting held earlier this week. The amendment is likely to be introduced in Parliament in its next session.
Around 600 non-flying staff of Air India and Vistara are likely to be impacted by the two airlines' mega-merger, and efforts will be made to provide job opportunities to the affected employees within Air India group and Tata companies, sources said on Wednesday. Tata Group-owned loss-making full-service carriers -- Air India and Vistara -- together have more than 23,000 employees.
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.
Aviation watchdog DGCA has deregistered all the 54 planes leased by Go First, days after a court allowed lessors to take back their aircraft from the bankrupt airline. Bogged down by financial turbulence and engine woes, budget carrier Go First stopped flying in May last year and is undergoing an insolvency resolution process. Foreign lessors that have leased planes to the airline had moved the court to take back the aircraft.
Insolvency appellate tribunal NCLAT on Tuesday upheld the resolution plan of grounded carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium. The NCLAT bench has directed the Jet Airways monitoring committee to complete the transfer of ownership within 90 days. Besides, it has also directed the lenders of Jet Airways to adjust the Rs 150 crore paid by the consortium as performance bank guarantee.
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.
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
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.
The rejection of Vinesh's appeal means India's tally from the Paris Olympics will be of six medals which includes one silver and five bronze.
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.
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 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 sooner Kalyan Chaubey leaves, the better it is for Indian football'
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 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.
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.
A top Madhya Pradesh government official, however, said on Saturday that no such plan has been finalised.
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.
HP has been charged with underpaying customs duties while importing products and spare parts.
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.
Bangladesh Cricket Board (BCB) on Wednesday confirmed that ODI skipper Shakib Al Hasan has been diagnosed with a retinal condition in his left eye.
The other members of the interim government will be finalised after consultations with various political parties, the press secretary added.
Moreover, the process to release those arrested between July 1 to August has started, and many have already been released, it added.
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.
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.
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.
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 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.
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.
Nothing is going to change in a hurry unless attitudes change and punishments are speedy and fair, notes Ramesh Menon.
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'
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.
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