Courts Financial News

Adani Group, has been arrested by Odisha’s Vigilance Directorate for allegedly attempting to bribe an Indian Administrative Officer (IAS). Rambhav Gattu, the Chief Manufacturing Officer (East) of Ambuja Cement in Chhattisgarh, was taken into custody after he attempted to offer Rs 2 lakh in cash to the collector of Bargarh district, Aditya Goyal.

bankruptcy court Wednesday admitted Jammu and Kashmir Bank's application to initiate insolvency proceedings against Essel Infraprojects Ltd, a company promoted by media baron Subhash Chandra, over what the lender claimed was an 'established case' of default. The Mumbai bench of the National Company Law Tribunal (NCLT), while admitting the company, has also appointed Hemant J Mehta as interim resolution professional (IRP). The private-sector lender had approached the tribunal after the Essel Group entity defaulted on its dues of ₹87.43 crore. «The financial debt is due and payable by the corporate debtor (Essel Infraprojects) as on the date of filing the present company petition,» observed the division bench of judicial member Reeta Kohli and technical member Madhu Sinha in its order. «Further, there is admission of default and outstanding liability by the corporate debtor in various correspondences annexed to the company petition,» it added.

Adani Power and Dickey Alternative Investment Trust approached the Supreme Court Wednesday, challenging the National Company Law Appellate Tribunal's (NCLAT) order asking the companies to maintain a status quo on implementation of the resolution plan for debt-laden Coastal Energen. A bench, led by Chief Justice DY Chandrachud, posted the matter for hearing Thursday after Solicitor General Tushar Mehta and senior counsel Abhishek Manu Singhvi sought urgent hearing in the case. Observing that prima facie due process was not followed and members of the consortium should not be allowed to make any gains, the NCLAT on Friday directed that the erstwhile resolution professional would continue to run Coastal Energen's power plant in Thoothukudi, Tamil Nadu, until September 18, the next date of hearing. Any money generated in this period would be kept in an escrow account, it ruled.

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₹23,000 crore and hanging fire for 18 years are finally set to have their fate decided by the Supreme Court in a sticky legal battle that will decide whether the Department of Revenue Intelligence has the power to issue such notices. The apex court has begun hearings following a government petition to review its own ruling, delivered in 2021, that clipped the DRI's powers to issue notices. A three-judge bench comprising Chief Justice D.Y.

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Dickey Alternative Investment Trust and Adani Power Ltd on Wednesday moved the Supreme Court challenging the National Company Law Appellate Tribunal's order asking it to maintain status quo on implementation of the consortium's resolution plan for debt-laden Coastal Energen. A Bench led by Chief Justice DY Chandrachud posted the matter for hearing on Thursday after Solicitor General Tushar Mehta and senior counsel Abhishek Manu Singhvi sought urgent hearing in the case. While observing that prima facie due process was not followed and members of the consortium should not be allowed to make any gains, the NCLAT on Friday directed that the erstwhile resolution professional would continue to run Coastal Energen's power plant in Thootukudi, Tamil Nadu, until September 18, the next date of hearing. And any money generated during this period would be kept in an escrow account, it held.

EPES, Ala.—When Enviva began construction here on the world’s largest wood-pellet plant, it had contracts worth more than $20 billion to supply overseas power plants with an alternative to coal. The company’s shares were near an all-time high. That was two years ago.

Tony Attanasio, a baseball agent since before the start of free agency whose clients ranged from Bobby Valentine to Ichiro Suzuki, has died

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A Las Vegas man has pleaded guilty to a federal criminal charge alleging that he duped people into making charitable donations that were instead diverted to political action committees or his own companies

NIA court. The explosions took place in and around the Gandhi Maidan here during an election rally addressed by Narendra Modi, who was then the Gujarat chief minister and the BJP's prime ministerial candidate. Talking to PTI, NIA special public prosecutor Manoj Kumar Singh said, «The division bench commuted the death sentence awarded to four persons convicted in the 2013 serial blasts at Gandhi Maidan to 30 years of imprisonment. The four are Haider Ali, Noman Ansari, Mohd Mujibullah Ansari and Imtiyaz Alam».

The European Union’s top court has rejected Apple’s final legal challenge against an order from the bloc’s executive commission to repay 13 billion euros ($14.34 billion) in back taxes to Ireland, bringing an end to the long-running dispute

Caroline Ellison, a former top executive in FTX founder Sam Bankman-Fried's collapsed cryptocurrency empire, is seeking no prison time at her sentencing later this month

Kamala Harris has pressed a forceful case against Donald Trump in their first and perhaps only debate before the presidential election

Responding to their email, Chief Secretary Manoj Pant has invited a delegation of 12-15 doctors to state secretariat Nabanna. “The representative team of junior doctors should have 30 members and be streamed live for transparency,” a junior woman doctor said, adding, “We are hurt that the administration has failed to respect the sentiments of the female doctors who have been at the forefront of the movement and refused to address their security concerns.” She was mentioning yesterday's invitation by the state Health Secretary for a meeting last evening.”

TMC leader has criticised the agitating medics for defying the Supreme Court directive to rejoin work by 5 PM on Tuesday and has dubbed the protesting doctors as «anti-nationals». In a purported video clip, TMC leader Chandan Mukhopadhyay, a panchayat leader of Baduria in North 24 Parganas, was seen making the remarks at a party programme. The authenticity of the video could not be independently verified by PTI. «Despite the Supreme Court order, the agitating doctors are continuing with their protest. They have forgotten their solemn duty of serving the people. These agitating doctors are nothing but anti-nationals. Immediate action must be taken against such doctors who have defied court orders,» he was heard saying in the video.

National Commission for Protection of Child Rights (NCPCR) on Wednesday filed an affidavit in the Supreme Court on a plea challenging Allahabad High Court's March 22 judgment striking down 'UP Board of Madarsa Education Act 2004'. NCPCR says that the education imparted to children in Madrasa is not comprehensive, and is therefore against the provisions of Right to Education Act, 2009. The Madrasa's are infringing on children's fundamental right to a good education by failing to provide these basic requirements. Children are denied not only a suitable education but also a healthy atmosphere and improved opportunities for growth, affidavit states.

Aam Aadmi Party leader Durgesh Pathak was granted bail on a bond of Rs 1 lakh in the alleged excise policy case by Delhi's Rouse Avenue court on Wednesday. He appeared on summons issued by the court. Meanwhile, Delhi Chief Minister Arvind Kejriwal was summoned through video conferencing from the Tihar jail. His judicial custody was extended till September 25.

Supreme Court on Wednesday said it will hear on September 17 the appeal of US-based creditor Glas Trust Company LLC against a judgment of the NCLAT, which had stayed insolvency proceedings against ed-tech firm BYJU's and approved its Rs 158.9 crore dues settlement with the BCCI. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by a battery of lawyers that the plea be heard urgently keeping in mind the subsequent developments in the case. The plea was mentioned by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. The submission was supported by Solicitor General Tushar Mehta, appearing for the BCCI, and senior lawyer Abhishek Singhvi, also appearing for the ed-tech firm.