Since 2016, Sebi has made many rules to prevent unauthorised trading by stockbrokers. Yet, one comes across dozens of cases of blatant overtrading in client accounts, every year, leading to massive losses to investors, observes Debashis Basu.
Cairn said it had initiated arbitration.
US e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering Rs 8,546 crore or $1.2 billion in legal expenses for maintaining a presence in the country during 2018-20, sources said. Sources aware of the firm's public account filings said entities of Amazon - including Amazon Retail, Amazon Seller Services, Amazon Transportation Services, Amazon Wholesale, and Amazon Internet Services - paid Rs 3,420 crore in India during 2018-19 and Rs 5,126 crore during 2019-20 towards legal fees. Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India (CCI).
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
Daiichi alleged that Singh brothers had concealed and misrepresented critical information concerning US Food and Drug Administration and Department of Justice investigations into Ranbaxy
Besides the CJI, the seniormost judge, Justice N V Ramana, and justices R F Nariman, U U Lalit, A M Khanwilkar, D Y Chandrachud, Ashok Bhushan and L Nageswara Rao would deal with the PILs and social justice matters, usually involving the Centre and the states, and their instrumentalities as opposite parties.
'The promises of netas and babus and new laws, however well-meaning, mean little.' 'What matters is implementation on the ground.' 'Every law is finally implemented by a vast army of offici
Future group firms have started getting large orders from Reliance Industries, its CEO Kishore Biyani said in an email to his employees on Tuesday. The group firms Future Consumer and Future Enterprises have recently received orders from Reliance Industries. This will be a big support for the cash-strapped future group firms before the completion of Rs 24,713 crore buyout of the country's second-largest retailer by Reliance Industries' arm. Ecommerce major Amazon has raised objections over the deal.
From small restaurants to mighty software companies, it is businesses, not the government, that create jobs. Yet, in a cruel irony, they have to fight extortive and brutal State power every step of the way, says Debashis Basu.
"Yeh sab doglapan hai." With these words, Ashneer Grover not only called out an entrepreneur being hypocritical, but also shot to fame as a reality television star. It happened in the first few days of January, when the funded part of the start-up world needed some warm-up to get back to work, and inevitably Grover's antics on the show became a talking point. The Twitterati also debated whether it was unbecoming of a founder to diss a peer's business model with such abrasion. And hundreds of memes, with the dialogue set in various circumstances, flooded social media.
Amid economic uncertainties owing to the pandemic, the government's key revenue agency, the Income Tax Department, has close to 400 vacancies at commissioner level and above, affecting its functioning. Seventy-three of the 91 chief commissioner positions are lying vacant, with some for more than a year. Chief commissioner is the second-highest post in the department, below principal chief commissioner, which is at par with secretary in a ministry.
the SC said, "We want that adequate compensation be paid to the victims' family".
Swiss court rejects Russia's appeal against Olympic doping ban. The Lausanne-based Court of Arbitration for Sport (CAS) said the sanctions, which also bar Russia from hosting or bidding for major sporting events during a two-year period, would come into force on Thursday and end on December 16, 2022.
Russian teenage figure skater Kamila Valieva tumbled to fourth place in the women's singles event on Thursday, yielding to the pressure of a doping controversy that has rocked the Beijing Games.
Valuers have found almost no assets to pay for their claims against the Videocon group that entered the insolvency process in 2018. But the dissenters suggest that the money is elsewhere, possibly in the group's oil and gas assets, which are not part of the group's bankruptcy case.
Coach Eteri Tutberidze said she was certain Valieva was 'clean and innocent'
CAS in 2016 dismissed an appeal against the WADA ban by the three cyclists -- Kirill Sveshnikov, Dmitry Strakhov and Dmitry Sokolov.
Bakshi had moved the application under Section 9 of the Conciliation and Arbitration Act, dealing with foreign arbitration and foreign tribunals.
DoCoMo said it is uncertain whether Tata Sons will pay the awarded damages.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
'Whoever is going to stop me from running is going to have to drag me out of the track'
In 2014, Sun Pharma agreed to buy Ranbaxy -- which was then controlled by Daiichi.
Semenya has vowed to fight the regulations, but has already lost an appeal to the Court of Arbitration for Sport, and another subsequent plea to the Swiss Federal Tribunal (SFT) asking for the CAS ruling to be set aside.
In a list of hearings published on its website, CAS wrote that the appeal by RUSADA against sanctions imposed by the World Anti-Doping Agency (WADA) would take place from Nov. 2-5 this year.
The Pakistan Cricket Board (PCB) on Monday said that it will appeal to the Court of Arbitration for Sport (CAS) against the reduction of batsman Umar Akmal's ban for an anti-corruption breach. The middle-order batsman was banned in April for failing to report approaches to engage in corrupt practices ahead of this year's Pakistan Super League Twenty20 competition.
RIL has more than half a dozen undeveloped discoveries.
UEFA's FFP rules face likely changes in the wake of the CAS ruling and Mourinho said the system needs to be overhauled if it is to continue to serve its purpose which is to aim to stop clubs running big losses through spending on players.
In the full decision posted on CAS's website and made public on Wednesday, CAS said Sun Yang had sought to shift blame to testers and his entourage and taken no responsibility for his actions.
RIL and Shell ceased production from the fields in 2016, and ONGC has already been using Tapti infrastructure for its other fields for better optimisation.
The pandemic has brutally highlighted the inadequacy of India's administrative systems. And, the government has demonstrated its culpable inability to speed up vaccination in a timely manner, says Jaimini Bhagwati.
Kamila Valieva is one of the youngest Olympic athletes to test positive for a banned substance
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
Surprised at the World Bank's decision to appoint a neutral expert, as sought by the Indian government, and at the same time establish a Court of Arbitration as wanted by Pakistan, India said proceeding with both the steps simultaneously "legally untenable".
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
Cricket Australia is on the verge of an agreement with the players' union to end the long impasse over a new pay deal and avoid the need for arbitration, local media reported on Monday.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
Caster Semenya has said the International Association of Athletics Federations (IAAF) breached confidentiality regulations ahead of her appeal hearing on Monday where she is fighting for her athletics future.
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.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
The MEA spokesperson did not reply to questions like whether the US had approached India with the offer, whether New Delhi has communicated its response over it to Washington, DC or whether the Trump administration has been briefed about the current standoff between Chinese and Indian soldiers in eastern Ladakh.
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