UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
Mallya's lawyer said he wants to return, but a British court has prohibited him from leaving the UK without its permission.
Gul is the sixth individual to have been designated as a terrorist by the Centre in the last fortnight.
Not being able to control outcomes and manage our own expectations leads to stress and anxiety which further leads to sadness and disappointment and worse case, depression.
On November 26 last year, the Allahabad High Court had rejected the bail pleas of Azam Khan and his son after which they moved the top court.
After Air India, Britain's Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes. A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the $1.2 billion plus interest and penalties that are due from the Indian government. Last month, Cairn brought a lawsuit in the US District Court for the Southern District of New York pleading that Air India is controlled by the Indian government so much that they are 'alter egos' and the airline should be held liable for the arbitration award.
The ED is of the opinion that the authority stepped into the shoes of the trial court and commented on the preliminary investigation done by the CBI in the impugned order.
The draft law also allows courts to send summonses and warrants to the accused through a specially designated website to be hosted by the Ministry of External Affairs.
According to the police, the doors of the markaz were opened at around 12.30 pm.
When we know that the ED's conviction ratio is less than 1% of the cases that it prosecutes, when we know that ED 'raids' are today more than 25 times as they were before 2014, why are we giving the ED more powers? asks Aakar Patel.
The crime branch of Mumbai Police, which is probing the case, had sought the proclamation, saying that the Indian Police Service officer could not be traced even after the issuance of a non-bailable warrant against him.
'Laws have been used in a way to serve the needs of the current regime and its authoritarian ideology.'
The Supreme Court on Tuesday vacated the stay on trial proceedings against Tamil Nadu Chief Minister J Jayalalithaa in a disproportionate assets case.
Vadra was asked to join the investigation at the tax authority's office but as he cited COVID-19 restrictions, a team of officials visited his premises in Delhi's Sukhdev Vihar area.
Corrupt bureaucrats in Jammu and Kashmir have more bad news coming their way -- they may lose their pension too besides property acquired through ill-gotten money.
While the fixtures from the bungalow will be up for auction, three items, a jacuzzi, a chandelier, and a Buddha statue, have been kept aside for handing over to the ED.
A quick computation puts the following value to the seizures.
Vadra, on Facebook termed as "witch hunt" the Enforcement Directorate's action of attaching assets of a firm linked to him, and claimed that it showed "complete misuse of assertion of power".
A day after NCP leader Samir Bhujbal was arrested by the ED, party chief Sharad Pawar said he has not seen such "blatant misuse of power" in last 40 years.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
These self-appointed well-wishers of AMU are basically for the control or police model of university governance. They have no faith whatsoever in the democratic functioning of the universities, observes Faizan Mustafa, former dean, Faculty of Law, and Registrar, Aligarh Muslim University.
A new sub-lineage BA.2.75 of the Omicron variant of the coronavirus has been detected in countries like India and the World Health Organisation is following this, Director-General Tedros Adhanom Ghebreyesus said.
Atique Ahmed is one of the most feared dons of Uttar Pradesh today. There was another don who preceded Atique and had he survived, Atique wouldn't have been around today, recalls Sudhir Bisht.
The prosecution complaint, ED's equivalent to chargesheet, has urged the court for confiscating attached assets totalling to Rs 1.22 crore in the case, besides other punishment under Prevention of Money Laundering Act.
The Ayodhya judgment of November 9 draws on both the polytheism of Hinduism and the modern rule of law, says Deepak Lal.
Initiating one of its biggest criminal actions in a money laundering case, the Enforcement Directorate on Wednesday attached assets worth Rs 863 crore of YSR Congress leader Jaganmohan Reddy and his associates in connection with its probe into alleged corruption in an infrastructure project in Andhra Pradesh.
Chief Minister Stalin seems to have drawn a line between his personal beliefs and those of others in the family, beginning with wife Durga Stalin, observes N Sathiya Moorthy.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
The Enforcement Directorate on Friday froze fixed deposits worth more than Rs 34 crore of a media firm owned by jailed YSR Congress leader Jaganmohan Reddy in connection with the money laundering probe against him and others.
The bill provides for severe punishment ranging from 1 year to 10 years and pecuniary fines ranging from Rs 2 lakh to Rs 50 crore to act as deterrent.
Nengroo is the fifth individual to have been designated as a terrorist by the Centre in the last fortnight.
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
On April 14, 2016, the crime branch of the Thane police had seized over 20 tonnes of ephedrine and 2.5 tonnes of acetic anhydride drugs from a pharmaceutical factory - Avon Life Sciences - in Solapur and other locations in Thane and Ahmedabad.
The Babri mosque demolition trial is presently at the stage of the recording of statements of 32 accused in the case under Section 313 of Code of Criminal Procedure during which they also get an opportunity to refute the prosecution evidence against them.
Some of the defaulters have not paid up amounts as small as Rs 15,000, while the majority of individual penalties are worth a few lakhs of rupees and a few others amounting to a few crores of rupees.
The agency filed the prosecution complaint under the Prevention of Money Laundering Act before a special court in Mumbai and said Naik's "inflammatory speeches and lectures have inspired and incited a number of Muslim youths in India to commit unlawful activities and terrorist acts."
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
A special Prevention of Money Laundering Act court on Wednesday issued a non-bailable warrant against Pankaj Bhujbal.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
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