Coffee Day Global Ltd (CDGL) and its financial creditor IndusInd Bank have reached a settlement, following which NCLAT has set aside an insolvency order against the company which owns and operates coffee chain Cafe Coffee Day. Counsel representing CDGL and IndusInd bank on Wednesday informed the Chennai bench of National Company Law Appellate Tribunal (NCLAT) about the settlement and sought permission to withdraw insolvency litigations. A two-member bench comprising Justice M Venugopal and Shreesha Merla took their submissions on record and set aside the order admitting CDGL to insolvency.
The Securities Appellate Tribunal (SAT) on Thursday quashed a Sebi order that barred NDTV founders Prannoy Roy and Radhika Roy from the securities market for two years in an insider trading case. However, the appellate tribunal partly set aside an order against Vikramaditya Chandra, the group's chief executive officer during the relevant period, and remitted the matter back to Sebi to decide the issue. It further said that trades executed by Chandra during PSI-3 (price-sensitive information) are required to be reconsidered, according to the order passed by SAT.
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.
Disney Star is mulling legal actions against Zee Entertainment for backing out from a $1.4 billion sub-licensing agreement for TV broadcast of international cricket matches in India, according to industry sources. This could brew another legal trouble for Zee Entertainment Enterprises Ltd (ZEEL), which is already facing an arbitration plea by Sony Group at the Singapore International Arbitration Centre, claiming $90 million for breach of conditions of their merger agreement. Disney Star, an Indian subsidiary of media conglomerate The Walt Disney Company, is working on its strategy over the development, said industry sources.
Bengaluru is reeling under a severe water crisis, the worst in the last four decades, and there have been calls from several quarters to shift the IPL games, beginning here on March 25, out of the city.
The announcement on integration of WhatsApp with its Information and Communications Technology (ICT) services was made by the CJI before a nine-judge bench headed by him commenced the hearing on the vexed legal question arising from the petitions about whether private properties can be considered "material resources of the community" under Article 39(b) of the Constitution, which is a part of the Directive Principles of State Policy (DPSP).
Rashford earned praise during the COVID-19 pandemic when he launched a child food poverty campaign, which prompted a government U-turn in 2020.
Shares of Zee Entertainment Enterprises Ltd (ZEEL) tumbled 12 per cent in the mid-session trade on Wednesday amid reports of capital market regulator Sebi has unearthed a financial discrepancy exceeding USD 241 million (nearly Rs 2,000 crore) in the accounts of the company. The stock of the company nosedived 11.58 per cent to Rs 170.65 apiece on the BSE. ZEEL shares plunged 11.39 per cent to Rs 170.70 per piece on the NSE.
HP has been charged with underpaying customs duties while importing products and spare parts.
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.
The Delhi high court on Friday directed the civil aviation regulator to deregister planes leased to Go First within five working days, giving respite to the lessors. This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask for a stay. Justice Tara Vitasta Ganju also refused the request of the RP, represented by advocate Diwakar Maheshwari, to keep the operation of the order in abeyance for a week to enable them to file an appeal before the division Bench of the court.
The hearings at the Lausanne-based Court of Arbitration for Sport (CAS) are expected to run until Friday. The court said it was unclear when a ruling might be rendered.
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.
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.
Aviation Working Group (AWG), a global aviation leasing body comprising major planemakers and lessors, on Monday further downgraded India as lessors have not been able to repossess their planes from Go First more than four months after the airline filed for insolvency. The leasing cost stands as a prominent expense for Indian airlines. With AWG's downgrade, it is likely that lessors will increase the aircraft leasing rates for Indian carriers.
Former Wimbledon and French Open champion Simona Halep had her four-year doping ban cut to nine months.
The Delhi high court (HC) division Bench on Thursday sought a response from Reliance Industries (RIL) and others regarding the government's appeal against the Mukesh Ambani-owned conglomerate and others for fraudulently and unjustly enriching themselves by draining gas from their deposits, amounting to over $1.5 billion. The Centre had appealed against the single-judge Bench order of the Delhi HC on May 9, which had dismissed its petition. Justice Anup Jairam Bhambhani had upheld the international arbitration award of July 24, 2018, in favour of the RIL-led consortium. The consortium includes UK-based BP Plc and Niko Resources of Canada.
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 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 tribunal has been convened in various cities around the world during the last two years, including New York, London, Berlin, Rome, Brussels and Tokyo.
Insolvency tribunal NCLT on Wednesday rejected Go First lessors' petitions to take back the planes leased to the grounded airline, and said the aircraft are available for resumption of operations since aviation regulator DGCA has not deregistered them. A two-member bench of the National Company Law Tribunal (NCLT) held that physical possession of the aircraft/engines would be "indisputably" with Go First and lessors cannot claim possession during the Corporate Insolvency Resolution Process (CIRP) of the carrier. According to the tribunal, aircraft and its engines are the sole essence of Go First's business and if taken away, it would result in its "corporate death" leaving no scope for its resolution.
The Centre had banned SIMI saying its activities were 'detrimental to peace, communal harmony, internal security and maintenance of secular fabric of the country'
As many as 5,532 complaints were received by the regulator in January, an 80 per cent increase over the number of complaints filed in the previous month.
Edtech major Think and Learn, which operates under Byju's brand name, is learnt to have received a commitment of $300 million from investors for its ongoing rights issue which will close by the end of February, sources aware of the development said. Byju's floated a rights issue in January to raise $200 million at an enterprise valuation in the range of $220-250 million which is a 99 per cent reduction in its peak valuation of $22 billion. Sources also shared that Byju's has offered miffed investors to appoint two independent directors to enhance transparency but only after the rights issue and declaring its financial results for the 2023 fiscal.
The All India Tennis Association (AITA) on Tuesday sought the Sports Ministry's advice on the national team's travel to Pakistan for the Davis Cup World Group 1 Play-off tie against the neighbours at Islamabad in February next year.
An international tribunal has ruled that the Indian government had acted "unfairly" and "inequitably" in annulling a contract between Devas and ISRO's commercial arm Antrix.
A report of the National People's Tribunal on the 2008 riots in Kandhamal, Orissa, is out. The report that runs into 197 pages points out that the brutality of the violence falls within the definition of 'torture' under international law, particularly the Rome Statute of the International Criminal Court.
India will appeal against the verdict of the Hague tribunal in Antrix-Devas deal case, in which the international court had declared the annulling of the contract as "unfair" and "inequitable" and asked it to pay huge amount as compensation.
After a 16 year manhunt, Bosnian Serb war crimes suspect Ratko Mladic has been transferred to the United Nations tribunal for Yugoslavia at The Hague. Mladic, a Bosnian Serb, has previously been indicted for war crimes, crimes against humanity and genocide.
Khan also insisted on protecting 'Form 45' to guard the people's mandate and expressed confidence over his victory, saying, "no force can defeat an idea whose time has come."
The case pertains to the issuance of mining leases in alleged violation of e-tendering process. The Allahabad High Court had ordered the probe.
On October 18, the apex court had directed Karnataka to keep supplying Tamil Nadu with 2,000 cusecs of water till further orders.
The Securities Appellate Tribunal (SAT) on Thursday questioned market regulator Sebi's credibility on completing its investigation within a stipulated time in the Zee Entertainment Enterprises' (ZEEL) matter. SAT was hearing Zee's plea against Sebi's order baring Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key managerial positions in the company and other organisations for allegedly siphoning off funds of the media firm. "There is no certainty that these eight months won't be extended. ...past record of Sebi is that they have always extended it (investigation).
The petition alleged that "illegal mining" was being carried out by Singh, the MP from Kaiserganj, in Majharath, Jaitpur and Nawabganj villages of Tarbganj tehsil in the district.
Mercedes and tyre supplier Pirelli appear before Formula One's International Tribunal in Paris on Thursday to face charges that they broke Formula One testing regulations in Spain in May. A detailed look a the issues and potential outcomes.
The government on Friday cleared the long-awaited proposal to set up a National Tax Tribunal to reduce the burden of pending cases in high courts and to ensure uniformity in administration of tax laws.
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