The Supreme Court Monday stayed the ongoing proceedings before the Delhi high court in the case related to the amalgamation of Future Retail Ltd (FRL) with Reliance Retail. A bench of Justices R F Nariman, B R Gavai and Hrishikesh Roy posted the matter for hearing on May 4 and directed that all pleadings be completed in the matter. Amazon had moved the apex court on April 8 challenging the Delhi high court's division bench order that had vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
The Delhi high court's division bench has stayed the single bench order favouring the emergency award against the Future-Reliance deal and imposing a Rs 20 lakh fine on Kishore Biyani & other respondents. including FRL and FCPL.
The Supreme Court Tuesday set aside three Delhi high court orders including the refusal to grant a stay on the final arbitral award which had restrained Future Retail Ltd from going ahead with its Rs 24,731 crore merger deal with Reliance Retail and ordered fresh adjudication. In a major relief to Future group, a bench headed by Chief Justice N V Ramana also set aside the high court's order of February 2 last year, by which it had directed Future Retail Ltd (FRL) to maintain status quo in relation to the merger deal. The March 18 order of the high court, upholding the EA's award and imposing a cost of Rs 20 lakh on it as well as its directors, has also been set aside.
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
No one can claim ownership right over the sacred place by merely putting up a structure like a mosque, a counsel for 'Ram Lalla' told the Supreme Court.
By virtue of it being an unsecured loan, personal loans have a very high rate of interest attached to them.
The court's direction came after Singh alleged conspiracy over filing of "frivolous anonymous complaints" against him with the revenue secretary saying these were being entertained by the ED.
Chidamabaram's counsel told the top court that he is sought by ED to be "vicariously involved" in the INX Media money laundering case as he is the father of Karti Chidambaram, who according to the probe agencies tried to influence the Foreign Investment Promotion Board members.
'We often assume that Ayodhya is Ram's property and Hastinapur is Yudhishthira's property when, in fact, it is their responsibility.' 'A king exists, as per Hindu philosophy, only to ensure that other people's property is safe,' explains Devdutt Pattanaik.
Analysts caution a non-BJP government is not an impossible scenario. In case of a Modi-led coalition, they advise investors to focus on discretionary consumption, select private banks and financials, RIL, housing, and IT.
The ministry further told banks that "it would be prudent to take steps against guarantors immediately when no sign of revival is visible".
Weeks ahead of the Tamil Nadu assembly elections, V K Sasikala, expelled All India Anna Dravida Munnetra Kazhagam leader and close aide of late chief minister J Jayalalithaa, on Wednesday announced that "she will stay away from politics," but would pray for the "golden rule" of the late party supremo.
Chief Justice of India N V Ramana on Wednesday termed as "very unfortunate" certain "speculations and reports" in the media about the collegium meeting regarding the appointment of judges in the Supreme Court.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Senior advocate Kapil Sibal, representing Roy, said it was quite difficult to raise money as the properties have already been attached.
Opt for personal loans only to meet your essential needs which cannot wait.
"Notwithstanding my personal anguish, I hope this will not cause any damage to the hard-earned peace and development in the state," Singh wrote in his letter to Gandhi
The IT department has a designated official to execute these rare powers.
Deccan Chronicle had taken a Rs 170-crore loan from Future Capital and Rs 100-crore loan from Tata Capital.
The agency's case is based on a National Investigation Agency complaint filed against the accused and Pakistan-based organisation Falah-i-Insaniyat Foundation.
Faced with growing anti-Sri Lankan sentiments in Tamil Nadu, Colombo may shift its deputy high commission office out of Chennai, a media report said Sunday.
The Securities and Exchange Board of India (SEBI) has moved the Supreme Court, seeking the detention of Sahara Group Chairman Subrata Roy for violation of the Court's orders. The Supreme Court will hear the case in April.
SAT has issued order to freeze Subrata Roy's account.
May adopt dtrict action including prosecution and property attachment.
The ED case has been booked under the Prevention of Money Laundering Act (PMLA) and the agency will record the statement of the accused. The central agency will investigate if proceeds of crime were generated by the accused by laundering of funds that were earned through the alleged gold smuggling racket.
When you sign your name as guarantor to use your good credit to help someone else obtain credit, you are taking a risk that a lender has refused.
The United States has decided to appoint a treasury attache and an attache for intellectual property rights in India. The US will also appoint a special official to deal with the aviation sector.
Expressing deep concern over the recent act of violence against doctors, Vardhan stated that incidents of assault on doctors are reported from different parts of the country and this leads to sudden strike by doctors, gravely affecting the healthcare services.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
The apex court had also asked Sahara Group to provide it within two weeks the list of "unencumbered properties" which can be put for public auction to realise the remaining over Rs 14,000 crore
Come April 2008 and Delhi will become the first state in the country to do away with printed "stamp paper", which is currently mandatory for property-related documentation.
'It's the court, not the government that decides where to put the people who indulge in corruption'
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
ED had served summons to several English columnists and writers who had contributed in the Saradha group newspapers and also gone to foreign junkets.
Senior Mumbai Congress leader Kripashankar Singh has moved the Supreme Court challenging the Bombay high court direction for his prosecution under the Prevention of Corruption Act and attachment of his immovable properties in a case of alleged disproportionate assets.
The officials said the case was re-registered by the NIA recently and it has initiated investigations into it.
In a major setback to the Sahara Group, the Supreme Court on Friday directed two of its companies to refund around Rs 17,400 crore to their investors within three months with 15 per cent interest.
Apartments that come attached with a hefty price tag are catching everyone's fancy. But is this for real?
Himachal Pradesh Chief Minister Virbhadra Singh, who has accused the Modi dispensation of trying to "destabilise and topple" his government by using central agencies, on Monday met Congress President Sonia Gandhi in the backdrop of President's Rule being imposed in party-ruled Uttarakhand.
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