BELA Financial News

Enforcement Directorate's (ED) powers to arrest and attach property involved in money laundering under PMLA required any reconsideration. A special bench headed by Justice Sanjay Kishan Kaul said the remit was «limited» as a three-judge bench had already addressed some issues related to the Prevention of Money Laundering Act (PMLA). «The issue now is whether anything requires reconsideration,» said the bench, also comprising Justices Sanjiv Khanna and Bela M Trivedi.

Supreme Court is scheduled to hear on Monday a bail plea of former Delhi minister Satyendar Kumar Jain in a money laundering case lodged against him. A bench of Justice A S Bopanna and Justice Bela M Trivedi will continue hearing the petition of Satyendar Jain and co-accused Ankush Jain.

New Delhi: The Supreme Court is set to rule whether the government can be considered a secured creditor when an insolvent company has not paid its dues. The judgment is expected to have a bearing across the bankruptcy resolution spectrum, since treating such dues on par with loans from secured creditors will diminish the payouts to the latter. Under India’s Insolvency and Bankruptcy Code (IBC), secured creditors such as banks and financial institutions get priority in getting repaid through the resolution process, while unpaid dues to vendors, suppliers and government dues are treated as operational credit, and they fall lower in the so-called waterfall mechanism.

The court asked Soren's counsel to correct the errors in the petition which was filed on September 23. Soren's move came days after the Supreme Court refused to entertain his plea against the summons. A bench of Justice Aniruddha Bose and Justice Bela M Trivedi on September 18, however, granted the chief minister the liberty to approach the Jharkhand High Court for relief in the matter.

Supreme Court on Monday told former Delhi minister Satyendar Kumar Jain, an accused in a money laundering case, to not make pendency of the proceedings before the apex court a ruse to delay the trial in the case. A bench of Justices AS Bopanna and Bela M Trivedi, which extended Jain's interim bail till October 9, made the remark after the Enforcement Directorate complained about the AAP leader seeking repeated adjournments in the trial court. «It is made clear that pendency of proceedings before this court or any reason shall not be used as an excuse or ruse to defer proceedings before the trial court, but the petitioner would diligently take part in proceedings before the trial court and allow the case to progress,» the bench ordered. At the outset, a counsel appearing for Jain sought a short adjournment in the case, saying senior advocate Abhishek Singhvi, who usually represents the former minister is unavailable. Additional Solicitor General SV Raju, appearing for the Enforcement Directorate, did not oppose the request but said Jain was seeking repeated adjournment of proceedings to delay the hearing before the trial court. Requesting the court to order Jain to not seek any further adjournments before the trial court, Raju submitted, «As many as 16 dates have been taken in trial court just to get documents under Section 207 of the Code of Criminal Procedure (supplying copies of statements recorded by the police, relevant documents, or extracts from the documents to the accused).

Supreme Court on Friday sought response of Tamil Nadu minister Udhayanidhi Stalin on a plea seeking registration of a criminal case against him over his recent remarks on Sanatana Dharma. A bench of justices Aniruddha Bose and Bela M Trivedi issued notices to the DMK leader on the plea filed by a Tamil Nadu advocate, B Jagannath. The petitioner told the bench that there has been a call for «eradication of a faith». Although the bench sought a response from Udhayanidhi, it clarified that the instant matter will not be tagged with the pending cases pertaining to hate speech. The petitioner argued that the September 2 conference where Udhayanidhi made the controversial remarks against Sanatana Dharma be declared unconstitutional for being violative of the right to freedom of religion. The petition also sought an injunction to restrain the Tamil Nadu minister from making such remarks and to prevent the holding of such events in future. Recently, 262 eminent persons including 14 retired high court judges had in a letter to Chief Justice of India DY Chandrachud sought suo motu cognisance of Udhayanidhi Stalin's remarks on Sanatana Dharma. Udhayanidhi had said that Sanatana Dharma divides people in the name of caste and religion, and hence should be eradicated.

CBI as a witness in a coal scam case has approached the Supreme Court against the Enforcement Directorate's decision naming him as an accused in the linked money laundering case, calling the action of the two federal probe agencies «inherently contradictory». An apex court bench of Justices Aniruddh Bose and Bela M Trivedi has issued notice to the ED on a petition by Goutam Karmakar, who has questioned the anti-money laundering agency's action wondering how could it make him an accused in a predicate offence when he is not facing any investigation by the CBI or other agencies for the schedule offence.

Supreme Court on Tuesday extended till September 25 the interim bail of former Delhi minister Satyendar Jain in a money laundering case. A bench of Justices AS Bopanna and Bela M Trivedi granted the relief to Jain after Additional Solicitor General SV Raju made a request for adjournment. Senior advocate Abhishek Singhvi, appearing for Jain, also agreed to defer the matter. The top court then postponed the matter to September 25 after extending the interim bail of the senior Aam Aadmi Party (AAP) leader. It also directed another accused Ankush Jain to be released on interim bail for four weeks on medical grounds noting that his child has to undergo surgery. The top court had on May 26 granted interim bail to Jain for six weeks for spinal surgery, saying a citizen has a right to receive treatment of his choice in a private hospital at his own expense.

Supreme Court on Tuesday adjourned for a week the hearing on a plea filed by former JNU student Umar Khalid seeking bail in a case lodged under anti-terror law UAPA over his alleged involvement in the conspiracy behind the northeast Delhi riots of February 2020.

Supreme Court on Friday refused to stay former Uttar Pradesh legislator Amarmani Tripathi's release from jail, a day after the state government ordered his and his wife Madhumani Tripathi's premature release owing to «good conduct» even as the couple remains admitted in a Gorakhpur hospital for treatment. The couple had been serving life imprisonment for their role in the sensational murder of poetess Madhumita Shukla in 2003. Tripathi was a minister at the time in then-chief minister Mayawati's cabinet. Shukla's sister, Nidhi Shukla, has questioned the release on «good conduct» and claimed the couple have been lodged in the BRD Medical College in Gorakhpur for the past 10 years and that she had RTI information to prove this.

Enforcement Directorate (ED) in February 2022 in a case of money laundering. A bench of Justices Aniruddha Bose and Bela M Trivedi was hearing the plea which challenged the order of the Bombay High Court rejecting his bail petition.

medical negligence, a doctor in Uttar Pradesh reportedly removed a female patients uterus instead of gallbladder. As per a ToI report, Usha Maurya's ordeal, now 26 years old and a resident of Bela village in Varanasi's Cholapur block, started during the first Covid lockdown in May 2020. Troubled by a recurring sharp pain in her abdomen, she sought help from an ASHA worker in her village.

Credo Brands Marketing, the owner of apparel wear Mufti Jeans has filed draft papers with market regulator Sebi to raise funds through an IPO. The IPO is a completely an offer for sale (OFS) of up to 19.63 million shares by promoters and other selling shareholders. The OFS comprises up to 4.14 million shares by Kamal Khushlani, up to 4.27 million shares by Poonam Khushlani, up to 1.08 lakh by Sonakshi Khushlani, up to 1.08 lakh shares by Andrew Khushlani, among others.

Supreme Court on Friday adjourned for July 17 the hearing of a plea by jailed former Maharashtra minister and NCP leader Nawab Malik against the Bombay High Court's decision of adjourning the proceedings on his bail application in a money laundering case. A bench of Justices Sanjiv Khanna, Bela M Trivedi and Ujjal Bhuyan posted the matter for further hearing after it was informed that senior advocate Kapil Sibal, who is representing Malik in the case, was not available. During the brief hearing, the bench initially said Malik is required to file a fresh petition as the Bombay High Court has already decided his plea for interim bail on Thursday.

offer for sale (OFS), with up to 19.63 million shares being sold by the promoters, promoter group, and other selling shareholders. The offer for sale includes shares being sold by Kamal Khushlani, Poonam Khushlani, Sonakshi Khushlani, Andrew Khushlani, Concept Communications Ltd, Bela Properties Private Ltd, Jay Milan Mehta, and Sagar Milan Mehta.