The lack of mutually acceptable arbitrators has delayed the resolution of the two-and-a-half-year-old dispute between Reliance Industries Ltd and the government of India over the recovery of $2.376 billion worth of investment in the KG-D6 gas block.
Byju's is in talks with three-four strategic buyers, including Joffre Capital Ltd and language learning platform Duolingo, to sell one of its key assets, US-based digital reading platform Epic, for about $400-$450 million, according to sources. With this, the beleaguered edtech firm wants to meet various commitments, including repaying its entire $1.2 billion term loan B (TLB) within six months. "The binding offers of the bidders to acquire Epic are expected to come in the next few weeks after the due diligence is complete," said a person familiar with the matter.
In a setback to former deputy chief minister Manish Sisodia, the Supreme Court on Monday denied him bail in the corruption and money laundering cases related to the alleged Delhi excise policy scam, saying the accusation of "windfall gains" of Rs 338 crore to wholesale liquor dealers was "tentatively supported" by evidence.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
Finance secretary R S Gujral too is believed to have met top Vodafone officials in Mumbai last month.
The Supreme Court, on Monday, said it cannot force ace tennis player Leander Paes and his estranged live-in partner Rhea Pillai to arrive at a settlement in a maintenance case.
'Being financially independent is crucial.' 'This spares women a lot of grief if the marriage, especially in large business families, breaks down.'
The Supreme Court had ruled in Vodafone's favour in 2012.
British telecom giant Vodafone Group plc on Friday won an arbitration against the Indian government over a demand for Rs 22,100 crore in taxes using retrospective legislation.
Gunmen allegedly shot dead two women in southwest Delhi's RK Puram in the early hours of Sunday over a suspected financial dispute with their brother, police said.
The National Stock Exchange (NSE) on Monday cautioned investors against some fraudsters running illegal dabba trading with guaranteed returns to investors. Dabba trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found that the entities -- Shri Parasnath Commodity Private Limited, Shri Parasnath Bullion Private Limited, Faary Tale Trading Private Limited and Bharat Kumar (associated with Trade with Trust) --were providing dabba or illegal trading platform with assured returns.
'Considering that there was an estimated Rs 10 lakh crores of Indian money stolen and kept in foreign tax havens, the UPA government with one stroke of its tainted pen has granted immunity to tax-evaders who had stashed the loot in tax havens.'
Commerce secretary Sunil Barthwal is set to attend a two-day meeting from October 23 at the World Trade Organization (WTO) headquarters in Geneva, that would focus on finding solutions and giving the 'necessary political push' for at least some crucial global trade issues. Next week's meeting comes ahead of the WTO's 13th ministerial conference (MC13), scheduled in Abu Dhabi in February 2024. It will see participation of senior government officials from all WTO member nations.
When it comes to the number of phone bill disputes, Vodafone, Idea Cellular, BSNL and Aircel were high on the list in several service areas during the quarter ended June.
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
The National Company Law Tribunal (NCLT) on Tuesday questioned the maintainability of the insolvency plea filed against air carrier SpiceJet by one of its operational creditors Willis Lease Finance Corporation. A two-member NCLT bench comprising Members Mahendra Khandelwal and Rahul Prasad Bhatnagar observed that Willis Lease Finance Corporation has withdrawn its insolvency plea for the same dispute in March 2023 and has approached again with a new plea. The bench wanted to know as Willis Lease Finance Corporation, an aircraft lessor, had filed again for a similar cause of action within a few months.
Explain reasons for uneven bequest in the will and make small changes to it regularly to show that your intention remains unchanged.
A meeting of the top officials of Sahara India and Jet Airways to resolve the dispute over the buyout of Sahara Airlines by the latter has not resulted in any settlement.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
Non-compliance can also result in legal complications and disputes with the tax authorities.
The Bombay High Court on Thursday gave Jet Airways and Sahara Group one last chance to amicably resolve a payment dispute over acquisition of Sahara Airlines by Jet, but if they squander this opportunity the court would step in with its ruling on July 15.
Government will provide a short window of a "few months" to income tax assesses to come clean by declaring their money and assets stashed abroad.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
Edtech major Byju's on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. "Byju's has had to take these measures following a series of predatory tactics by the lenders, led by Redwood," the company said in a statement.
Spain defeat England in final of record-breaking Women's World Cup
Before participating in such a scheme, do a detailed background check of the company's credentials, especially if the promised returns are unrealistic.
Concerned over the practice of banks and Non-Banking Financial Companies (NBFCs) using penal interest as a revenue enhancement tool, the Reserve Bank on Friday came out with modified norms, under which lenders would be able to levy only "reasonable" penal charges in case of default in repayment of loans. The banks and other lending institutions will not be allowed to levy penal interest with effect from January 1, 2024, the RBI said in its notification on 'Fair Lending Practice-Penal Charges in Loan Accounts'. "Penalty, if charged, for non-compliance of material terms and conditions of loan contract by the borrower shall be treated as 'penal charges' and shall not be levied in the form of 'penal interest' that is added to the rate of interest charged on the advances," RBI said in a notification.
Hell has no fury like a woman scorned and after Shoaib Malik, another top Pakistani cricketer Mohammad Asif is learning it the hard way as he has been taken to court by a former lover over a financial dispute.
Without naming his predecessor Uddhav Thackeray, Maharashtra Chief Minister Eknath Shinde on Friday launched a scathing attack on him, stating that it must be found out who betrayed the people's mandate, Bal Thackeray's ideology and an ally of 25 years.
'According to politicians, farmers are the fourth grade citizens of India.' 'We farmers could meet the prime minister and ministers during Congress rule.' 'But none of the BJP ministers want to even meet us.' 'The prime minister has time only for foreigners, but has no time to meet us farmers.'
Plea-bargaining finally comes to India and you can now resolve your disputes with Sebi through negotiations and settlement rather than litigation.
The ongoing dispute between the Indian company GMR Infrastructure and the Maldives government over the former's contract to build an airport for the Maldives' capital, Male, throws up some knotty questions.
According to police, it appears to be a case of murder due to monetary and property dispute and they are searching for both the accused.
In a setback to the telecom regulator, the Telecom Dispute Settlement and Appellate Tribunal has barred TRAI from intervening in any dispute arising between two operators on the terms and conditions of interconnection.
While Mukesh Ambani-led RIL has nominated former Justice Bharucha as its arbitrator, the Centre chose Justice Khare as its nominee.
The WTO dispute panel had its last hearing in early May.
The Finance Minister impressed upon the need to attract more investments for the manufacturing sector.
If the Ministry of Civil Aviation has its way, the proposed regulatory authority for the sector will act as an arbitrator in case of disputes over airfare. The airlines, however, will be free to decide on ticket pricing.
The government plans to remove the definition of broadcasting services altogether from the bill to help reduce confusion among stakeholders.
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