The presence of an engine maintenance, repair, and overhaul (MRO) facility in India could have prevented Go First airline from going "belly up", as sending engines abroad for servicing is not an efficient way to operate a carrier, Piyush Srivastava, senior economic advisor, Ministry of Civil Aviation, said in a statement on Tuesday. On May 3, Go First suspended its flights and filed for insolvency, squarely blaming engine manufacturer Pratt & Whitney (PW) for its cash crunch. The airline claimed that about half of its 54 aircraft were grounded on May 3 due to a delay in the supply of engines by the US-based company. PW has denied the charges.
Former Air India Executive Director Jitendra Bhargava had filed the appeal questioning the decision of CCI to approve the Jet-Etihad deal without carrying out a detailed assessment.
The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks.
Two days after the termination of the merger agreement by Sony Group, Zee Entertainment on Wednesday hit back by filing a petition before the National Company Law Tribunal (NCLT), seeking a direction to implement the merger scheme. Besides, it has also initiated appropriate legal actions to contest the claims of $90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC), according to a regulatory update by Zee Entertainment Enterprise Ltd (ZEEL).
The private companies want a level playing field so that they can compete with the government companies in fuel retailing.
The government is planning to draft rules for the National Company Law Tribunal (NCLT) to deal with Insolvency and Bankruptcy (IBC) cases, according to official sources. The Ministry of Corporate Affairs (MCA) is also looking to fill all vacant posts at various NCLT Benches by August and put in place an IT-enabled system that would use artificial intelligence (AI) for case management. The NCLT, adjudicating authority for matters related to company affairs, was constituted before the IBC came into effect.
From banks and credit card firms to mobile operators, everyone is using the power of SMS to reach out to potential customers and now, even Telecom Disputes Settlement And Appellate Tribunal has jumped the SMS bandwagon.
The decision is seen as a stinging blow to the US administration
Manchester United have lost 11 of their 27 league matches this campaign, two more than all of last season. The two previous seasons with 12 league losses (2013-14 and 2021-22) led to managerial changes.
Byju's founder Byju Raveendran on Saturday said the edtech company will not be able to pay salaries to employees as the recent funds raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to staff, Raveendran said the rights issue, launched a month ago, has been successfully closed. "This was supposed to be a happy correspondence.
The South African, 32, approached the France-based court in February, 2021 after losing appeals to CAS, sport's highest court, and another plea to the Swiss Federal Tribunal (SFT) in a long-running legal battle against the regulations.
Twenty-eight years after a man applied for a job in the postal department, the Supreme Court has ordered his appointment noting that there was an error in holding him ineligible for the post.
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 tribunal was set up in December 2003 to try members of the former regime for crimes and other violations.
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 party has contested the reassessment proceedings, claiming they were barred by limitation.
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.
Applicants for Indian citizenship under the Citizenship (Amendment) Act 2019 (CAA) can submit any of nine documents, including valid or expired passport, ID cards and land tenancy records, to prove he or she is a national of Afghanistan or Bangladesh or Pakistan.
The tribunal said the AOL has been engaging in multiple litigations in order to not pay the fine.
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
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.
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.
A consortium of shareholders with over 30 per cent stake in cash-strapped Byju's might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an 'amicable settlement' or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management. They will vote for a revamp of the existing board, an exercise which would include asking Byju Raveendran to step down as chief executive officer (CEO) and relinquish his operational role, according to sources.
The Chicago Tribune points to 'striking inconsistencies surrounding Kathuria, whose campaign is built on highly embellished claims of success as an international business tycoon.'
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.
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.
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.
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.
Rivals say the concessions would benefit AirAsia alone.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
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.
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 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.
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