City Sanjiv Financial News

Uttarakhand High Court has issued a contempt notice to Dr Vivek Joshi, Secretary Department of Personnel and Training (DoPT) for allegedly defying its order over the empanelment of an Indian Forest Service (IFS) officer with the Centre. Justice Alok Kumar Verma issued the notice to the DoPT on October 23 on a plea filed by IFS officer Sanjiv Chaturvedi who alleged a wilful defiance of the court's order on his empanelment. A division bench of the high court had directed the Central government in September to provide Chaturvedi with his empanelment documents as a joint secretary (JS). He had moved the high court after the Central government passed an order saying the «appointment committee of cabinet had not approved» his empanelment for «holding the post of JS or equivalent at the Centre».

NBCC on Tuesday moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years. These 17 projects were launched in the National Capital Region, Dehradun and Bengaluru but completion of the residential units was hit due to financial crisis faced by the realty major which led to insolvency proceedings since 2021. A bench of Justices Sanjiv Khanna and Sanjay Kumar was told by advocate ML Lahoty, appearing for the hassled home buyers, that the National Buildings Construction Corporation Ltd (NBCC) has come forward with a proposal to complete these stalled projects having around 51,000 residential units. Senior advocate Gopal Jain, appearing for NBCC, said the public sector undertaking has filed an intervention application in a matter related to insolvency proceedings of Supertech Ltd to develop the stalled project on the lines of Amrapali Group.

Supreme Court is scheduled to hear on Tuesday a plea of the Muslim side against the Allahabad High Court order rejecting their petition challenging the maintainability of 18 cases related to the Krishna Janmabhoomi-Shahi Idgah dispute in Mathura. A bench of Justices Sanjiv Khanna and Sanjay Kumar will hear the plea filed by the Committee of Management Trust, Shahi Masjid Idgah against the August 1 order of the high court. The mosque management committee's plea has been filed through advocate RHA Sikander. On August 1, the high court rejected the plea challenging the maintainability of 18 cases related to the temple-mosque dispute in Mathura, and ruled that the «religious character» of Shahi Idgah needs to be determined.

Artificial Intelligence, proportionality and data analysis to take advantage, Supreme Court judge Sanjiv Khanna said here on Monday. Addressing the third convocation of the Maharashtra National Law University Aurangabad, he said there are 5.5 crore cases pending in courts across the country, including 83,000 in the Supreme Court. «There are 1700 law colleges. Around 1 lakh advocates get enrolled every year. There are about 15 lakh advocates enrolled by the bar council. Advocates not only need to argue these cases but also have to man the courts as judges and members of tribunals. Hence, there is huge opportunity waiting for you,» Justice Khanna said. «Emerging areas like technology and artificial intelligence, data creation and data analysis, proportionality are important for legislative and executive policy as well as judicial determination,» he said, adding law cannot be understood in isolation and would need interdisciplinary study. The legal profession is not a business but one that demands integrity, perseverance and a deep sense of responsibility, with the main aim being to maintain ethics, honour and dignity, he asserted.

Supreme Court on Friday refused to stay the implementation of Adani Goodhomes Pvt Ltd's resolution plan for debt-ridden Radius Estates & Developers Pvt Ltd, even as it sought response from the resolution professional and others on an appeal by Beacon Trusteeship Ltd, a dissenting financial creditor. Beacon claimed that it didn’t get a fair deal as the plan gave a 93% haircut to its claims. The Bench led by Justice Sanjiv Khanna said it will examine the question of dues payable to Beacon Trusteeship and posted the matter for further hearing in January.

IPO-bound Bajaj Housing Finance aims to expand by diversifying its book and exploring multiple sources of funds, Chairman Sanjiv Bajaj tells ET. Bajaj Finance is not exploring a bank licence, however, he says. Edited excerpts from the interview: What are the challenges you foresee for the housing finance industry considering that banks are also getting in the space aggressively? I think that the opportunities outweigh the challenges, this is when you are growing at 7% and the government is also putting support for the larger economy to grow even faster in the coming years, in addition to the fact that the government is also supporting housing, with housing for all, so the opportunity is very large. The challenges will remain in the locations that you want to grow, the kind of customer segments you enter, if you are building a diversified or a monoline book and sources of borrowing. Therefore, the path that we have taken is to build all this in a diversified manner ( such as home loans, loans against property, developers’ loans), we are not just in one line of lending or borrowing, we have multiple lines for this and have diversified it. This makes up most of the challenges, and we can build up the business in the foreseeable future.

Supreme Court on Friday asked the Yamuna Expressway Industrial Development Authority (YEIDA), which has challenged a debt resolution proposal for Jaiprakash Associates' Jaypee Infratech unit, to file an affidavit indicating the steps it has taken to protect the interests of homebuyers in the projects of the bankrupt developer and others. Coming down heavily on YEIDA for its stand towards homebuyers in the residential projects, the court said: «You are not concerned with the homebuyers; that's where the problem lies.» Observing that the homebuyers are the «ultimate sufferers», a bench led by Justice Sanjiv Khanna told solicitor general Tushar Mehta that «you cannot say that I'm concerned with my dues and the homebuyers, who are the real sufferers, can bear the brunt».

‘I am bored’ need not make parents recoil in horror Take, for instance, the Arthshila centres, run by the Takshila Foundation, which is helmed by the father-daughter duo of Sanjiv Kumar and Setika Singh. Envisaged as an immersive platform for artistic expression and creative experiences for people of all age groups, Arthshila has centres in Ahmedabad and Santiniketan, launched in 2021 and 2022, respectively, besides one other in Delhi, which was launched in January. These are open spaces, with curated programmes across disciplines, that hope to democratise art.

ITC Ltd is going to invest Rs 20,000 crore in the medium term across businesses, chairman and managing director Sanjiv Puri told shareholders on Friday.

interim bail to Delhi Chief Minister Arvind Kejriwal in a money-laundering case, after the AAP termed it a «victory of truth» and «defeat of the BJP's conspiracy». The Supreme Court on Friday granted interim bail to Kejriwal in a money laundering case lodged by the Enforcement Directorate (ED) in the alleged excise policy scam but he will remain in jail as the CBI had arrested him in a related matter. A bench of Justice Sanjiv Khanna and Justice Dipankar Datta referred to a larger bench, preferably of five judges, for in-depth consideration of three questions on the aspect of «need and necessity of arrest» under the Prevention of Money Laundering Act. Rijiju said, «There are reports that Kejriwal has got relief. This is not true. The Supreme Court has vindicated the action taken by the ED.»

Arvind Kejriwal in the CBI case related to the Delhi Excise policy till July 25. Earlier in the day, the Supreme Court granted interim bail to Kejriwal in a money laundering case lodged by the ED in the alleged excise policy scam. The top court said it is up to Kejriwal to decide if he should continue as chief minister.

Arvind Kejriwal in a case related to the now-scrapped excise policy. Reacting to this, Bhagirath Choudhary, Bharatiya Janata Party (BJP) Union Minister of State for Agriculture and Farmers Welfare, affirmed that action will be taken against all corrupt individuals, regardless of their party affiliation. Choudhary stated, «Those who are corrupt will not be spared. PM Modi's vision is to make India corruption-free. Action will be taken against the corrupt from any party.» He criticized Kejriwal, alleging a stark transformation from his activist days with Anna Hazare to his current lifestyle. «Kejriwal, who once walked in slippers protesting against Congress, has now spent a fortune on his luxury residence. Be it the liquor scam or Janata clinics, his corrupt practices are evident,» Choudhary added. Choudhary reminisced about the anti-corruption protests led by Anna Hazare and Kejriwal, expressing disappointment in Kejriwal's alleged shift from those ideals. «He may have received interim bail, but once a corrupt leader, always a corrupt leader. These corrupt individuals will face justice. Till they are rooted out, our country cannot progress,» he asserted.

ITC increased by 24.11 per cent in FY24 compared to the previous year. The company’s annual report said that the number of employees earning above Rs 1 crore touched 350 with 68 additional high-ranking employees joining the bracket. The number stood at 282 in FY23.

IIFL Securities today fell 7% to a low of Rs 219.45 on account of the company’s association with Sanjiv Bhasin, who is facing Securities and Exchange Board of India (SEBI) inquiry for alleged stock manipulation. Sanjiv Bhasin is a known face on various business news channels and digital media platforms, where he discusses trading ideas pertaining to stocks and was associated with IIFL Securities as a Consultant on a contractual basis.

Tax incentives, an increase in capital expenditure, fiscal consolidation, enhanced ease of doing business, and a stable long-term tax regime are among the key suggestions industry and financial institutions made in their pre-budget consultations with finance minister Nirmala Sitharaman on Thursday. The Confederation of Indian Industry (CII) said its president Sanjiv Puri suggested a 25% increase in capex spending over the revised estimate of FY24 and relief in income tax to boost consumption. CII also suggested setting up a Green Transition (Mitigation and Adaptation) Fund for which multiple sources of funding could be tapped and would facilitate the availability of capital at a lower cost, it said in a statement.

Union Budget as it can act as a pool of employment generation. «India's workforce is predominantly engaged in agriculture and the informal sector. Agriculture growth depends on rural infrastructure, private sector involvement, and waste reduction. Accelerating reforms in agriculture and food processing, coupled with increased public investments in agricultural infrastructure, can spur employment,» PHD Chamber Of Commerce And Industry said in its pre-Budget recommendations. «Increase public investments in agri-infrastructure such as cold chain infrastructure to store and transport agriculture products to strengthen agriculture supply chains,» PHDCCI added.

including Virendra Sehwag, Brett Lee. A week after the incident, a news picture was shared on social media Goenka and Rahul were seen sharing a warm hug after the owner hosted a special dinner for the team in Delhi.During that time, reports also surfaced about Rahul leaving LSG next season.

IPL win, Gautam Gambhir’s mentorship to revive the team has been much talked about. A report has revealed that Gambhir and Shah Rukh Khan were regularly in touch with each other even when GG was not a part of KKR.Gautam Gambhir and Shah Rukh Khan met several times in 2018-2022. Interestingly, they didn't talk about cricket.

Indian airports, calling it a “bottleneck" for passengers.In a post on X (formerly Twitter), Kapoor wrote, “Airport entry queues and ID/ticket checks - India is the only major country I am aware of that requires this. I wonder if there is a way forward that does not require this bottleneck."He further mentioned that DigiYatra, an application which helps facilitate a smooth and paperless air-travel experience, is only for tech-savvy air travellers.

Supreme Court on Tuesday adjourned the hearing of former Jharkhand Chief Minister Hemant Soren's bail plea, refusing to grant bail. A bench of Justices Sanjiv Khanna and Dipankar Datta said it will hear the plea on May 22 after hearing the case for an hour. Senior advocate Kapil Sibal, representing Soren cited the case of Delhi chief minister Arvind Kejriwal and asked the court to release the JMM leader him to campaign for the Lok Sabha elections. The Enforcement Directorate (ED) had opposed Soren’s bail plea on May 20. In its affidavit, the ED argued that evidence establishes Soren's involvement in the illegal acquisition and possession of properties. The ED argued that campaigning for election was neither a fundamental, constitutional, nor a legal right.

Sanjiv Puri, Chairman and Managing Director of ITC, has assumed office as the president of the Confederation of Indian Industry for 2024-25, the chamber said on Sunday. He takes over from R Dinesh, Chairman of TVS Supply Chain Solutions. Puri heads ITC Ltd, a conglomerate with businesses in FMCG, hotels, paperboards & packaging, agribusiness, and IT. He is also the Chairman of ITC Infotech India Ltd, its subsidiaries in the UK and US, and Surya Nepal Private Ltd.