The SAT asked Sebi as to what it was doing all these seven years and why it did not object to the revised IPO documents.
Suspended Pakistan pacer Muhammad Amir was questioned and cross-examined on the fourth day of the International Cricket Council anti-corruption tribunal hearing in Doha on Sunday.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
A peeved special Pakistani tribunal on Thursday asked government to give a written explanation as to why it allowed former military ruler Pervez Musharraf to go abroad.
Dispute relates to premature termination of a deal to buy TCP steel
The Securities Appellate Tribunal (SAT) has set aside capital markets regulator Sebi's order that imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding buyback of shares in 2014. Cairn India, which was merged with Vedanta Ltd in 2017, was accused of making a misleading public announcement designed to influence investors' decisions. "We hold that the violations of provisions of... the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations and... the Buyback Regulations are not proved against the company (Vedanta)," a bench consisting of Justice Tarun Agarwala and presiding officer Meera Swarup said.
Three Islamists from the infamous Al-badr militia were on Monday sentenced to death while five others jailed until death by a special tribunal in Bangladesh for committing crimes against humanity during the 1971 liberation war against Pakistan.
The Securities Appellate Tribunal (SAT) has stayed the ban imposed by the Securities and Exchange Board of India (Sebi) on Samir Jain, vice-chairman and managing director of Bennett, Coleman & Co (BCCL), his wife Meera Jain, and six others. BCCL owns news media organisations The Times of India, and The Economic Times. Last month, the regulator had refrained Jain from accessing the securities market for allegedly violating minimum public shareholding (MPS) norms in PNB Finance and Industries (PNBFIL) and Camac Commercial Company (CCIL), which are listed on the Calcutta Stock Exchange.
A Judicial member of the appellate tribunal NCLAT has recused himself from hearing a petition filed by tech giant Google, appealing against Rs 936.44 crore penalty imposed by competition watchdog CCI for abusing its dominant position with respect to Play Store policies. On Monday, NCLAT bench Justice Rakesh Kumar and Alok Srivastava ordered Google's appeal to be listed before another bench of which Justice Rakesh Kumar is not a party. It has asked the registry of the National Company Law Appellate Tribunal (NCLAT) to place it before the chairman of the appellate tribunal for this.
IBC has been revolutionary in many ways and is a formidable instrument for stress resolution. And despite the room for improvement, the overall effectiveness of IBC in the distress space is unmatched, notes Saloni Kothari.
The GST Council on Saturday clarified that guarantees provided by corporate to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, also cut the GST rate on molasses to 5 per cent from 28 per cent. It also ceded the right to tax Extra Neutral Alcohol (raw product for making alcohol for human consumption) to the states.
CBI have registered a disproportionate assets case against Meena, an IRS officer of 1977 batch, and claimed to have recovered so far cash of Rs 16 lakh from his possession, sources said.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Indian subsidiary of consumer electronics major Sony has been allowed by income tax tribunal to claim deductions on its expenses on advertisement and sales promotion for calculating its tax liability.
Virtually indicting former Army chief and Union Minister Gen V K Singh, the Armed Forces Tribunal on Friday quashed the court martial of Lt Gen P K Rath who was punished for his alleged role in a land dealing in West Bengal.
A group of unidentified persons vandalised idols of Hindu goddesses in 14 temples in Bangladesh's Baliadangi upazila on Sunday, Dhaka Tribune reported citing a police officer.
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.
A special bench of the Delhi Income Tax Appellate Tribunal has ruled that the income tax that an employer pays on behalf of its employee is a non-monetary benefit in kind and, therefore, exempt from tax.
'He never wanted to break rules': Paul Pogba's representative
'Lawyers don't know if a particular judge would like being addressed as 'Sir', and thus the colonial terms are 'safe' to use.'
'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.'
In a first of its kind case that has come up in the Delhi-based principal bench of the Armed Forces Tribunal, a serving army doctor has approached the court for admission to the post graduate degree course being conducted in the army's Research and Referral hospital in New Delhi. The doctor, after having cleared the entrance, was turned out on the pretext of lack of resources and teaching faculty
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
He however clarified that it is ultimately up to the courts to officially ban a political party.
It is an important move because 7,300 cases of Armed Forces personnel are pending before the High Courts and Supreme Court.
The government on Monday decided to call off the strategic divestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases. Pawan Hans is a 51:49 joint venture of the government and ONGC. The government had in April last year decided to sell the helicopter service provider for Rs 211.14 crore to Star9 Mobility Pvt Ltd -- a consortium of Big Charter Private Ltd, Maharaja Aviation Private Ltd and Almas Global Opportunity Fund SPC.
All 23 of the World cup-winning squad including Jenni Hermoso, as well as 32 other squad members, said they would not play internationals while Luis Rubiales remains head of the Royal Spanish Football Federation.
The trio has been voicing their criticism of Trai's recommendations and have asked the government to dump the report, which according to them are 'retrograde' and 'absurd'.
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.
The government on Tuesday announced that it will work towards implementing the suggestions made by the Supreme Court while striking down the IMDT act, and said more tribunals would be set up under the Foreigners act.
A member of the drugs inquiry tribunal said fast bowlers Shoaib Akhtar and Mohammad Asif could escape without a ban.
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.
The National Green Tribunal has refused to order demolition of the Siri Fort Sports Complex, including its squash and badminton courts, in Delhi, but held that the entire complex and its various constructed portions would not be put to any kind of commercial use or non-sport activities.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
'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.'
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.
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.
The Supreme Court made it clear on Thursday it will not allow stalling of the arbitral proceedings pending before the Singapore International Arbitration Centre (SIAC) pertaining to the ongoing legal tussle between US e-commerce major Amazon and the Future Group, saying the sanctity of such proceedings needed to be maintained. "You (Future group and others) cannot keep stultifying the proceeding before the arbitral tribunal and this is just a ploy to delay the proceeding. "These are all ploys by well-heeled parties to delay the arbitration proceeding.
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