Courts Financial News

Golconda Fort in Hyderabad, Chhatrapati Shivaji Terminus in Mumbai, Delhi Secretariat, Bhopal’s Kushabhau Thackeray Convention Center, Mumbai International Airport, Calcutta High Court and Raj Bhavan in Kolkata, and the Brihanmumbai Municipal Corporation headquarters in Mumbai are among the prominent structures that now shimmer with national pride. In Hyderabad, the Golconda Fort, renowned for its architectural beauty, has been meticulously illuminated by Bajaj Electricals. The lighting not only enhances the fort's aesthetic appeal but also honors its historical importance. Several dynasties like the Kakatiyas, Bahmanis, Qutb Shahis, and Mughals have left their architectural imprints on the fort. The fort now stands out even more as a symbol of India's rich heritage and its journey to independence. In Mumbai, the historic Chhatrapati Shivaji Terminus glows with vibrant colored lights. This iconic railway station, a UNESCO World Heritage site, stands as a symbol of the city’s pride and heritage. The introduction of tricolor illumination ahead of Independence Day amplifies its grandeur.

Mehul Choksi's plea seeking records related to the suspension of his passport from the regional passport office. Choksi, an accused in a multi-million dollars scam at the Punjab National Bank, has claimed that he can not return to India as his passport is suspended on the ground of a «security threat to India». The special judge for the Prevention of Money Laundering Act (PMLA) cases S M Menjoge, however, allowed his plea seeking copies of investigation files relevant to decide whether there are sufficient grounds to declare Choksi a Fugitive Economic Offender (FEO).

Vinesh Phogat's petition against her disqualification at the Paris Olympics, Indian Olympic Association (IOA) confirmed on Wednesday. IOA President Dr PT Usha has expressed her shock and disappointment at the decision of the Sole Arbitrator at CAS to dismiss Phogat’s application against the United World Wrestling (UWW) and the International Olympic Committee (IOC). The Indian wrester was disqualified by the IOC for weighing 100 grams more than permissible limit moments before her gold medal bout.

₹10,563 crore, while 31 personal guarantors accounting for ₹1,433 crore in defaults by companies approached bankruptcy tribunals on their own for debt resolution, according to data available with Insolvency and Bankruptcy Board of India (IBBI). Lenders in all seek to recover more than ₹2 trillion from personal guarantors since December 2019, when they were brought under the Insolvency and Bankruptcy Code (IBC). Of these, 3,134 cases are in bankruptcy tribunals (National Company Law Tribunal) while 50 are pending in Debt Recovery Tribunals (DRT), showed data from the IBBI.

Manish Sisodia on Wednesday said the governor's post should be scrapped as the institution has become a «burden on democracy» and its role is only to «obstruct» the functioning of governments being run by non-NDA parties. In an interaction with PTI editors at the agency's headquarters here, Sisodia, who stepped out of Tihar jail on Friday after being granted bail in the excise policy case, said that bureaucrats in Delhi are suffering due to the tussle between the Lt Governor and the elected government and he «felt sorry» for them. He lamented that public services and works were also being affected and people were facing hardships due to the «split» in governance at various levels. The Lt Governor's office and the AAP dispensation in Delhi have had run-ins on several governance issues.

Google to share its vast troves of data with competitors, implementing safeguards to prevent it from gaining an unfair edge in artificial intelligence (AI) products, and even considering the divestiture of some of its key assets.Among the most frequently discussed remedies is the possible separation of the Android operating system from Google. DOJ attorneys are also weighing the possibility of forcing Google to sell its AdWords search advertising program and even its Chrome web browser, according to individuals familiar with the matter, adds the report.The report highlights that a spokesperson for the Justice Department confirmed that the agency is carefully reviewing the court's ruling and will determine the appropriate course of action in line with the legal framework governing antitrust remedies.

allegations of mishandling the rape-and-murder case of a woman trainee doctor, Kolkata Police issued two clarifications on Wednesday. «Reports of KP informing the family about a possible suicide are false. The family confirmed the call did not come from Kolkata Police.» The police also said that it did not cremate the body of deceased.

CBI headed by an additional director on Wednesday launched an investigation into the alleged rape and murder of a doctor at a state-run hospital in West Bengal. The agency has taken custody of the primary suspect, according to officials. The CBI has also registered an FIR in New Delhi under multiple sections of the Bharatiya Nyaya Sanhita (BNS) related to the case, a source within the agency revealed.

Steward Health Care said it has reached an agreement to sell its nationwide physicians network to a private equity firm

A German federal court has suspended a ban the government imposed last month on a far-right magazine

Allahabad High Court on Wednesday deferred the hearing on a plea against a Varanasi court order refusing to direct the ASI to survey the Gyanvapi mosque's 'wazukhana', as the counsel for the Muslim side did not appear due to «illness». On July 9, the high court granted a month to the mosque management committee to file a counter affidavit on the revision plea and fixed August 14 for the hearing. On Wednesday, an «illness slip» was sent on behalf of counsel for the Muslim side and a request was made to adjourn the matter. Thereafter, the high court fixed August 22 as the next date of hearing in the case. Justice Rohit Ranjan Agarwal passed the order on the revision petition filed by Rakhi Singh, one of the plaintiffs in the Shringar Gauri worshipping suit.

Lucid, gives nearly an hour to watch the comedian riff with his audience like a drunk uncle holding court at a wedding. There’s no craft, no structural ingenuity, no grand comedic vision—just a lot of time to kill. Rife, who has a certain easy charm, meanders through a conversation with his audience, and we’re supposed to believe this is worthy of the same Netflix stage that once hosted the likes of Burnham’s Make Happy? Lucid is not so much a comedy special as it is an open-mic night.

Jammu and Kashmir High Court on Wednesday quashed charge sheets filed by the Enforcement Directorate (ED) against former Jammu and Kashmir chief minister Farooq Abdullah and others in connection with its money laundering probe linked to alleged irregularities in the Jammu and Kashmir Cricket Association (JKCA). A single bench order passed by Justice Sanjeev Kumar said no predicate offence was made against the individuals and hence the charge sheet and supplementary charge sheet filed by the ED are quashed. The ED had named National Conference chief Abdullah, Ahsan Ahmad Mirza (former treasurer of JKCA), Mir Manzoor Gazanffer (another ex-treasurer of the JKCA) and some others as accused in the charge sheet.

mining companies because of retrospective applicability of the Supreme Court order allowing state governments to levy taxes besides royalty on mining operations. “We are studying the impact of the Supreme Court order and will take a call on the future course of action. It is estimates that the industry wide impact is over Rs 1 lakh crore,” a top government official told ET while adding that retrospective applicability of the levies is a major concern. Estimates from the mining industry peg the total payout at much higher. According to B K Bhatia, Additional Secretary General at the Federation of Indian Mineral Industries (FIMI), the Indian mining industry as arrears may work out to the tune of more than Rs. 1.5 to Rs. 2 lakh crores.

Delhi High Court's Justice Subramonium Prasad on Wednesday recused himself from hearing the plea filed by alleged conman Sukesh Chandrasekhar, seeking additional meetings in jail with his lawyers. The recusal was due to the multiple legal cases against Chandrasekhar, which could potentially present a conflict of interest or require a different judicial perspective. Sukesh Chandrashekhar through a plea requested permission to increase his meetings with his legal counsel to five times a week. This request sought an additional three meetings beyond the two meetings per week currently allowed. To support his request, Chandrashekar referred to the Arvind Kejriwal case where he was granted five weekly meetings with his council.

SEOUL—For most of 2020, Kim Yong-min and So Sung-uk enjoyed joint family coverage with the nation’s public health insurer. Then an abrupt call severed their government benefits. A mistake had been made, an insurance representative explained to Kim.

Chakri Lokapriya, Managing Partner, RSB LLP, says the current Supreme Court ruling on mines, allowing states to collect past dues will mean an outgo of about Rs 60,000 crore for just the PSUs and another Rs 1 lakh crore for the private companies. So, Rs 1,60,000 crore will need to be repaid over the next 10-12 years. Now, that completely takes away the capital expense that these companies plan for the next many years, which means the jobs that they were going to create and the NPAs that they will create in the banking system, have multi-ramifications right from job creation to NPAs. Insurance over the last couple of months has become quite interesting for investors because the overhang seems to be over. Do you still think the story is not fully discovered and priced in or do you think perhaps the best is in price already now? Chakri Lokapriya: I think the price hikes largely reflect the increased costs that they are mandated to do. Now, they have to cover the existing ailments, and also, the price revisions faced by the insurance companies are periodic versus other prices, like medical costs, which are going up continually. All things adjusted, I do not think 7-10% price hikes will take care of the risks and the cost increases, but not add to the profitability.

SpiceJet Ltd, the Delhi High Court on Wednesday asked it to ground the three engines by Friday and return them to its lessors — Team France 01 SAS and Sunbird France 02 SAS — in 15 days. It also asked the low-cost carrier to make arrangements for inspection of these engines. The Ajay Singh-led carrier has been struggling to secure funding following consecutive quarterly losses. The airline faces legal action from lessors over unpaid dues and has had requests made to the aviation regulator for de-registering their aircraft.

Hindustan Zinc's board of directors will meet on Tuesday, August 20, 2024 to consider and approve the second interim dividend on its equity shares for the Financial Year 2024-25. The Vedanta Group company has set the record date on Wednesday, August 28, 2024.

Sapna Choudhary, Haryana's famous dancer and singer, is currently dealing with legal issues after Delhi's Tis Hazari Court issued a non-bailable warrant against her. The warrant is related to a cheating case that arose from a complaint filed by Delhi's Economic Offenses Wing (EOW). The case centers around allegations of financial misconduct dating back to 2021.

Supreme Court on Wednesday stayed the National Company Law Appellate Tribunal’s (NCLAT) order, which approved the settlement between edtech firm Byju’s and the Board of Control for Cricket in India (BCCI) over unpaid dues of Rs 158 crore. Solicitor General Tushar Mehta, appearing for the BCCI, opposed the appeal against the NCLAT order. Mehta said that because of the stay, the BCCI’s settlement with Byju’s will go. The Supreme Court bench led by Chief Justice of India DY Chandrachud asked BCCI to keep the settlement amount in a separate account till August 23 – the next date of hearing.