The petition was mentioned on Tuesday by Income Tax counsel Beni Chatterjee and Vodafone lawyer Fereshte Sethna before a bench headed by Chief Justice Mohit Shah.
The Appellate Authority has stayed Rs 1800 crore penalty on Coal India.
The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notices over the petition filed by e-commerce major Amazon, challenging a recent order passed by the fair trade regulator CCI that suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). The appellate tribunal has directed the Competition Commission of India (CCI) and FCPL to file their reply in next 10 days and Amazon to file a rejoinder over it. It has directed to list the matter on February 2, for next hearing.
The row over premature retirement of former NCLAT Chairperson Justice Ashok Iqbal Singh Cheema ended in the Supreme Court on Thursday as the Centre conceded, permitting him to continue in office till September 20 to pronounce verdicts.
The Supreme Court on Thursday dismissed a plea of the Sapoorji Pallonji (SP) group seeking a review of the 2021 verdict which had upheld the Tata group's decision to remove Cyrus Mistry as the executive chairman of the Tata Sons. A bench headed by Chief Justice N V Ramana, however, ordered the deletion of certain remarks made against Cyrus Mistry in the March 2021 verdict. Senior advocate Harish Salve, appearing for the Tata group, said the court may permit the deletion of one or a few sentences not for the reasons given in the application of the Sapoorji Pallonji (SP) group.
Deloitte had challenged the jurisdiction of the NCLT to ban it, saying section 140(5) of the Companies Act pertains to auditors who are still auditing the company in question while it has already resigned from the service and thus cannot be banned under the given provisions.
The Competition Appellate Tribunal (Compat) had on December 7 last year ordered fair trade watchdog CCI to probe afresh the alleged abuse of dominance by the popular tax-hailing app operator.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
In its reply to the Securities Appellate Tribunal (SAT), the Securities and Exchange Board of India (Sebi) said urgent action was warranted against the promoters of Zee Entertainment Enterprises Limited (ZEEL) in the alleged fund diversion case to safeguard the management and protect investors and other stakeholders. It termed the applications made by Essel Group Chairman Subhash Chandra and ZEEL managing director (MD) and Chief Executive Officer (CEO) Punit Goenka as "completely false and misleading" in its response submitted to SAT on June 17. "We have a situation before us where the chairman emeritus and the MD and CEO of this large listed company are involved in a myriad of different schemes and transactions through which vast amounts of public money belonging to listed companies are diverted to private entities owned and controlled by these persons.
Lok Sabha on Friday passed the Finance Bill 2023 with 64 official amendments, including the one that seeks withdrawal of long-term tax benefits on certain categories of debt mutual funds and another for setting up the GST Appelate Tribunal. The Finance Bill that gives effect to tax proposals for fiscal year starting April 1 was passed without a discussion amidst ruckus by opposition members demanding a JPC (Joint Parliamentary Committee) probe into the allegations against the Adani group of companies. While moving the bill for passage and consideration, finance minister Nirmala Sitharaman also announced the setting up of a committee under finance secretary to look into pension issues of government employees.
The two women -- Seema Koul and Vishalni Koul -- had moved the high court in 2018 after their provisional selection to the post of legal assistant in the department of disaster management relief, rehabilitation and re-construction under the PM package for Kashmiri migrants in December 1, 2017 forfeited on the ground that they have lost their migrant status having married non-migrant persons.
Billionaire Anil Agarwal's mining group Vedanta on Monday said it has withdrawn cases in the Delhi high court as well as before an international arbitration tribunal to settle a Rs 20,495 crore retrospective tax dispute with the government. Post slapping of a Rs 10,247 crore tax demand on UK's Cairn Energy Plc for alleged capital gains made on a 2016 internal reorganisation prior to the listing of its India business, the Income Tax Department had sought Rs 20,495 crore in taxes (including penalty) from Cairn India for failing to deduct tax on capital gains made by its British parent. Cairn India was in 2011 bought by Agarwal's group and subsequently, the firm was merged with Vedanta Ltd.
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.
The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group's multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor.
On the basis of her committee's report, the UCC in Uttarakhand established mandatory registration for marriages and live-in relationships, banned polygamy, and provided equal inheritance rights for women.
The Supreme Court of India has ordered the Union government to grant a permanent commission to a woman officer in the Army Dental Corps who was denied benefits given to similarly placed officers. The court ruled that the woman officer was wrongly excluded from consideration and that the principle of "what is sauce for the goose ought to be sauce for the gander" applies in this case. The court directed the government to implement the order within four weeks and to extend all consequential benefits, including seniority, promotion, and monetary benefits, to the officer.
The Securities Appellate Tribunal on Monday dismissed Karvy Consultants' appeal against the Sebi order barring it from opening fresh demat accounts.
Soon after the Supreme Court of India upheld all the appeals filed by the Tata group and set aside the order of the National Company Law Appellate Tribunal reinstating Cyrus Mistry as group chairman, Ratan Tata, chairman emeritus of Tata Sons and chairman of Tata Trusts, took to Twitter to share his views.
A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
Telecom tribunal TDSAT on Monday rejected a contempt application filed by Anil Ambani group company Reliance Communications against Cellular Operators Association of India, for allegedly taking the legal battle on spectrum for a media trial.
Jet Airways, which is yet to resume operations under its new owner, will reduce salaries for various staff and send many employees on leave without pay, amid uncertainty over resumption of its operations. The measures, which will be effective from December 1, were revealed hours after the winning bidder Jalan-Kalrock Consortium (JKC) said it might take "difficult" near-term decisions to manage cashflows. The once-storied airline shuttered operations in April 2019 and JKC's resolution plan was approved under the insolvency process by the National Company Law Tribunal (NCLT) in June last year.
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 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.
A bench of Justices DY Chandrachud and M R Shah got annoyed when one of the advocate appearing for the parties sought two week adjournment on the ground that arguing counsel was not present.
The Delhi high court on Wednesday upheld an order of the Income Tax Appellate Tribunal (ITAT) refusing to stay a notice issued by the Income Tax department to the Congress party for recovery of outstanding tax of more than Rs 100 crore.
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
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).
Filing an affidavit before the TDSAT, the department of telecommunication has requested the tribunal to dismiss the petition of telecom operators challenging the government directive to stop 3G roaming immediately.
The move should help as many as 25 aspirants, including Unitech, Parsvnath, DLF, HFCL and Shyam Telecom, seeking to enter the lucrative GSM mobile services space.
The SAT had listed the appeal for 'admission' today, but decided to post the matter for March 11 before the Tribunal's presiding officer.
A local court has issued a non-bailable arrest warrant against absconding Indian Administrative Service officer B B Mohanty, accused of raping a 23-year-old woman, the police said on Friday.
eonour Technologies Ltd plans to file an Sebi appellate tribunal seeking to quash Sebi directions against the company.
The mystery surrounding the alleged fund diversion from Zee Entertainment Enterprises (Zee) by founders Subhash Chandra and Punit Goenka has thickened with speculations of an amount multiple times higher than that cited by the ex-parte interim order passed by the Securities and Exchange Board of India (Sebi) dated June 12, 2023. While Zee shares witnessed a fresh selloff on Wednesday, news reports of accounting fraud left investors guessing about the hole in the media broadcaster's books. An order by the Securities Appellate Tribunal (SAT) in October 2023 had clearly hinted that Sebi's investigation had found a deeper rout.
While recalling the order, the bench agreed to the contention of the law officer that there was a "breach of principle of natural justice" as the government department was not accorded the hearing.
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms -- IL&FS, IFIN and ITNL. "The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and for the amount of Rs 16,361 crores i.e Rs 11,296 crore of cash and Rs 5,065 crores of InvIT Units," said an order by a two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan.
A three-member NCLAT bench set aside an earlier order passed by the Kolkata bench of the NCLT and asked the interim resolution professional (IRP) to handover all the assets and records of the company to its board.
The Supreme Court Thursday asked NDTV promoters Prannoy Roy and Radhika Roy to give a statement on shares indicating the current market value which they would like to deposit as security with market regulator Sebi under the order of the Securities Appellate Tribunal (SAT).
