Courts Financial News

The United States Court of Appeals for the Second Circuit has partially reinstated a securities fraud lawsuit brought by Michael Rothenberg’s NY-based Moab Partners, L.P. against Macquarie Infrastructure Corporation (MIC) and several of its executives. The case, which has seen multiple rounds of appeals, was remanded back to the district court for further proceedings after a ruling from the Supreme Court.

Raveendran, the embattled founder of Byju's, appeared close to settling his company's payment dispute of Rs 158 crore with the Indian cricket board after approval by the National Company Law Appellate Tribunal (NCLAT). However, on August 14, theSupreme Court intervened by staying the NCLAT order that had approved the settlement agreement between Think & Learn Pvt Ltd--Byju's parent company--and the Board of Control for Cricket in India (BCCI), adding to the woes of the troubled edtech firm. On Thursday, the apex court rejected pleas by Byju's and BCCI to halt a meeting of the Committee of Creditors (CoC) in its ongoing insolvency case. The court will hear the matter next on August 27.

Supreme Court on Thursday refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against embattled ed-tech firm Byju's. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra, however, said it will accord the final hearing in the matter on August 27. The bench said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor Glas Trust Company LLC against the judgment of the insolvency body — National Company Law Appellate Tribunal (NCLAT). At the outset, senior advocate Abhishek Singhvi, appearing for Byju's, and Solicitor General Tushar Mehta, representing the Board of Control for Cricket in India (BCCI), said the CoC has been constituted in the meantime and 98 per cent stakes are with the US firm.

CBI alleged in the Supreme Court on Thursday that there was an attempt to cover up the rape and killing of a post-graduate medic at Kolkata's RG Kar Medical College and Hospital by the local police as the crime scene was altered by the time the federal agency took over the probe. Appearing in the court on behalf of the Central Bureau of Investigation (CBI), Solicitor General Tushar Mehta told a bench headed by Chief Justice D Y Chandrachud that senior doctors of the hospital as well as the victim's colleagues had asked for videography, which means even they had felt that there was a cover-up. «We entered the probe on the fifth day. Before that, whatever was collected by the local police was given to us. The investigation itself was a challenge because the scene of offence was altered. The FIR was registered only after the (victim's) cremation at 11:45 pm. »First, the parents of the victim were informed by the deputy superintendent (of the hospital) that she was not well. When they reached the hospital, they were told that she had committed suicide… Fortunately, the colleagues of the deceased insisted for videography. This suggests that they were suspecting a cover-up," Mehta told the bench, also comprising Justices J B Pardiwala and Manoj Misra.

FAIMA) on Thursday decided to end its 11-day strike, called to protest against the rape and murder of a medic in Kolkata, following «positive directions» from the Supreme Court. The apex court earlier in the day asked protesting doctors to resume work and assured them that no adverse action would be taken after they rejoin. "#FAIMA has decided to call off the strike following positive directions from the #Chief Justice of India. We welcome the acceptance of our prayers for interim protections and the necessary steps to enhance security in hospitals. United, we will continue to fight legally," FAIMA, an umbrella body of doctors, said in a post on X. The move comes soon after several resident doctors' associations (RDAs) called off their strike over Kolkata incident, following an appeal from the Supreme Court.

West Bengal Chief Minister Mamata Banerjee, in a letter to Prime Minister Modi, requested the formation of a 'stringent central legislation ' to fight against the rising cases of rape in India. Alapan Bandyopadhyay, Chief advisor to the West Bengal CM, on Thursday revealed that the TMC Supremo urged PM Modi to take into account the increasing number of rapes throughout the country, and help set-up laws that put an end to such hate-crimes. «Respected Prime Minister, I wish to bring to your kind attention the regular and increasing occurrence of rape cases throughout the country and in many cases rapes with murder are committed according to the available data, it is horrifying to see that almost 90 cases of rapes occur daily throughout the country,» the letter read by Bandyopadhyay stated.

Supreme Court's suo motu case on the alleged rape and murder of a junior doctor in a state-run hospital in Kolkata. The Indian Medical Association (IMA) headquarters is also preparing the documents to appear before the task force formed by the court to formulate a protocol for ensuring safety and security of healthcare professionals. The alleged rape and murder of the junior doctor in the seminar hall of the West Bengal government-run RG Kar Medical College and Hospital triggered nationwide protests that have affected non-emergency services in several health facilities. «IMA will be filing an IA (interlocutory application) before the Honourable Supreme Court in the suo moto intervention case. IMA HQ is preparing the necessary documents to appear before the special task force,» an IMA communication to its officials, including those at its state and local branches, said.

Thawarchand Gehlot after he sanctioned prosecution against CM Siddaramaiah in the MUDA scam. The protest was led by the Leader of the Opposition in the Legislative Council Chalavadi Narayanaswamy. BJP leaders and BJP Party Workers including former Deputy Chief Minister Dr.CN Ashwath Narayan joined the protest. CN Ashwath Narayan said, «It is a fight against corruption, a fight for justice. Urging Congres to take action against its CM Siddaramaiah and ensure that he is immediately dismissed...»

Editor’s note (June 20th 2024): The Supreme Court has ruled in Moore v United States, upholding the tax at issue (the “mandatory repatriation tax"). The court declined to weigh in on the constitutionality of a tax on unrealised gains. The rich are different from other people. They have more money and, in most places, they pay much less tax.

Maharashtra, the Bombay High Court on Thursday questioned the investigating authorities on whether complaint has been filed against the school where the incident happened under provisions of POCSO. «Did you register any case against the school? There is a provision in POCSO to make the concerned officer of the school a party for not reporting the crime,» said Bombay HC. During the hearing, the High Court was told that the investigation has started from every angle, and there will be no mistake anywhere.

Donald Trump's nearly USD 500 million civil fraud judgment, arguing there's «overwhelming evidence» to support a judge's finding that the former president lied for years about his wealth as he built his real estate empire. In paperwork filed ahead of oral arguments next month, New York Attorney General Letitia James' office said the current Republican nominee's appeal is awash in «meritless legal arguments» and ignores volumes of trial evidence showing that he and his co-defendants engaged in «fraud and illegality on an immense scale.» «On appeal, defendants tellingly ignore almost all their deceptions,» Assistant Solicitor General Daniel S Magy wrote in a 168-page submission to the state's mid-level appeals court known as the Appellate Division. Trump, his company and top executives including his sons Eric and Donald Trump Jr «created and used financial statements rife with blatant misrepresentations and omissions to maintain loans worth more than half a billion dollars and to generate over USD 360 million in ill-gotten profits,» Magy wrote.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Professor Manas Kumar Bandopadhyay has been appointed the principal of RG Kar Medical College and Hospital in Kolkata. This development comes a week after Prof Suhrita Paul was appointed to the post. Paul has been appointed the principal of Barasat Government Medical College and Hospital, as per a notification issued by the West Bengal Health Department. Earlier, the Health Department cancelled the appointment of Prof Sandip Ghosh as the Principal of National Medical College & Hospital following the Calcutta High Court directive. Ghosh was the former principal of RG Kar Medical College and Hospital.

A former recruiter at Osaic, known until recently as Advisor Group, has dropped her lawsuit that alleged pay discrimination, retaliation and sexual harassment by the firm against her.

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

state machinery but also among many within civil society. 'Police', in the context of protests, has a similar effect, with notions of 'needful' acts of aggression jostling with those of 'needless' rampage.

The explosion of online sports betting is taking a toll on personal finances, particularly among those who are financially distressed.

Security Force (CISF) are being deployed at Kolkata's RG Kar Medical College and Hospital following an order of the Supreme Court, official sources said on Wednesday. A day after the apex court's order, the Union home ministry wrote to the West Bengal chief secretary seeking deployment of the CISF at the state-run hospital. Subsequently, a decision has been taken for the deployment of the CISF, the sources said. Earlier in the morning, a CISF team, led by a DIG-rank officer, surveyed the hospital complex where a 31-year-old trainee doctor was allegedly raped and murdered earlier this month.

A health clinic in a Montana town plagued by deadly asbestos contamination is asking an appeals court to reverse almost $6 million in fines and penalties after a jury found it submitted hundreds of false claims

U.S. Senate candidate West Virginia Gov. Jim Justice is in a mad-dash legal fight to keep a historic hotel at his luxury resort before it’s auctioned off next week due to unpaid debts