Courts Financial News

NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion allegedly promised investors their money would be safe, with Cynthia Petion assuring they would be «in profit from day one.» The SEC said the Petions instead used new money mainly to repay earlier investors and pay commissions to promoters, while siphoning millions of dollars for themselves. It said the scheme lasted for four years until NovaTech's May 2023 collapse.

Every day, around the clock, a small group of cybersecurity professionals scours Facebook, looking for the face of their boss, an Australian billionaire who is determined to take the social-media giant to court. Like American financiers such as Bill Ackman, Andrew Forrest says he has spent years trying to get Facebook-parent Meta Platforms to do more to stop scam advertisements that use his likeness to promote fraudulent investment schemes. Yet unlike other Meta adversaries, the mining executive has pledged to spend vast sums on his legal campaign.

lawsuit accusing Google of unlawfully dominating web search on smartphones, but said the consumers should get another chance after a Washington, D.C. court separately ruled the tech giant spent billions to create an illegal monopoly. U.S. District Judge Rita Lin in San Francisco on Friday dismissed the consumers' antitrust lawsuit against Google, finding they had not provided enough factual evidence showing any harm from the Alphabet unit's market dominance. Lin said the plaintiffs could file an amended lawsuit, citing the D.C. court's blockbuster Aug. 6 ruling that found Google's exclusive contracts with Apple and other companies helped it create an illegal monopoly over search engines.

SpiceJet seems to be mounting as its engine lessors — Team France 01 SAS and Sunbird France 02 SAS — on Monday rejected its promoter Ajay Singh’s offer to pledge his personal shares, equivalent to the outstanding dues of $2.5 million, towards discharge of the airline’s liability. Senior counsel, Sandeep Sethi, appearing for Spicejet, told the Delhi High Court that Singh is willing to pledge his unencumbered shares towards discharge of the airline’s liability with the HC and the same can be encashed if it failed to pay till September 30. “We are not putting any conditions. The court can pass orders for immediate release if we don’t pay between now and September 30,” he argued. However, the lessors rejected the offer, saying they don’t want “pledge of shares of a company whose existence is shaky…The pledge is not acceptable. We have given them a long leash. We want our engines back. And we have been asking for disclosure of Singh’s assets since January,” senior counsel Raj Shekar Rao told a Bench of Justice Manmeet Pritam Singh Arora.

Pakistan Army on Monday took former General and former Inter-Services Intelligence (ISI) chief Faiz Hameed into military custody and initiated court martial proceedings against him, said the army's media wing. This move follows a detailed inquiry mandated by the Supreme Court of Pakistan to investigate allegations made in the Top City Case. This is the first time in Pakistan's history that a court martial has been initiated against a former intelligence chief, local media said. According to a statement from the Inter Services Public Relations (ISPR), the military has acted on the findings of the inquiry to address the complaints against Lt Gen Faiz Hameed (Retd). The court martial proceedings are being conducted under the provisions of the Pakistan Army Act.

Stay tuned for Live Updates. Vinesh Phogat CAS Hearing Verdict Live: Rajya Sabha member Priyanka Chaturvedi from Maharashtra has condemned the Indian Olympic Association (IOA) for its handling of Vinesh Phogat's disqualification on Monday.She took to X and wrote, "Wow.

CBI) 15 days to obtain the requisite sanctions to prosecute Chief Minister Arvind Kejriwal and AAP MLA Durgesh Pathak in a corruption case related to the alleged excise scam. Special Judge Kaveri Baweja allowed the central agency time till August 27 to secure necessary sanctions after being told that they were yet to be received from the authorities concerned. The CBI had earlier secured sanctions to investigate them in the case. Pathak, a senior member of the Aam Aadmi Party's political affairs committee, is considered very close to Kejriwal.

Enforcement Directorate (ED) on the bail plea of the Aam Aadmi Party's former communication in-charge Vijay Nair in a money laundering case related to the alleged Delhi excise policy scam. A bench of Justices Hrishikesh Roy and SVN Bhatti issued notice to the central agency and sought its response within four weeks. «It is submitted that the petitioner is in custody for nearly 2 years since he was arrested by the CBI and has been in continuous custody of the ED...Issue notice,» the bench said.

Tamil Nadu minister V Balaji Senthil on Monday bail plea. The apex court was hearing bail pleas by the DMK leader challenging a February 28 order of the Madras High Court dismissing his second bail petition in a money laundering case. Senthil was arrested by the Enforcement Directorate on June 14 of last year in connection with a money laundering case linked to a cash-for-jobs scam from when he was the transport minister during an earlier AIADMK regime. The ED had on August 12, 2023 filed a 3,000-page charge sheet against Balaji.

RG Kar hospital doctor murder probe to the CBI if police fail to solve the case by Sunday. Banerjee also said she wants the case to be tried in a fast track court. «If the police are unable to solve this by Sunday, we will hand over the case to the CBI. However, the success rate of the central probe agency is very low,» Banerjee told reporters here after visiting the residence of the deceased doctor.

Delhi High Court on Monday directed the Delhi Police to not arrest former IAS Puja Khedkar, who has been accused of 'misrepresenting and falsifying facts' in her UPSC application, till August 21. The Court has issued a notice on Khedkar’s anticipatory bail plea. Justice Subramonium Prasad issued notice to the Delhi Police as well as the UPSC on the anticipatory bail plea by Khedkar, and asked them to file their responses.

Supreme Court on Monday refused to entertain a fresh plea filed by some examinees challenging the government's decision to cancel the UGC-NET examination following alleged question paper leak, saying that entertaining it at this stage will create «chaos». A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra said the government is conducting the exam afresh on August 21 and the students, who are around nine lakh, must have some kind of «certainty now». «The Supreme Court stepping now will have a serious effect and there will be chaos all over,» the CJI said while declining to entertain the plea filed by Praveen Dabas and others. The bench said the exam was held on June 18 and was cancelled a day after that.

Arvind Kejriwal has filed a petition in the Supreme Court challenging his arrest by the Central Bureau of Investigation in the excise policy case and has also filed a bail plea. The Delhi High Court had earlier dismissed his petition challenging the arrest and advised him to seek bail from the trial court. While dismissing Kejriwal's plea challenging his arrest, the HC stated that the prosecution has explained that, respecting his position as Chief Minister of NCT of Delhi, the police treaded with trepidation and caution and proceeded to collect the evidence from other persons suspected to be the accused. Consequently, extensive investigations were carried out across India to ascertain the entire web of conspiracy involving numerous persons. In his plea to the Delhi HC, CM Kejriwal stated that he is the National Convenor of a National Political Party (Aam Aadmi Party) and the sitting Chief Minister of Delhi, who is being subjected to «gross persecution and harassment for wholly malafide and extraneous considerations.»

firearms has sparked a significant crackdown on an illicit pistol factory in Ganeshpura village, Morena district, Madhya Pradesh. The footage, which circulated widely on social media, depicted a woman cleaning pistols in bulk, prompting authorities to launch an investigation. The video led police to verify its authenticity and identify key suspects involved in the illegal operation.

What went wrong? The will was written by the husband, indicating that his wife would inherit everything if she survived him, and that the property would be given away in charity if she did not, after his lifetime. When the will was read to the family, the heirs pointed out that she had inherited the wealth from him as per the will, but that there was no will written by her in which she indicated giving away the wealth to charity. His will had specified charity only if she predeceased him. The lawyers seem to agree with this interpretation. The will includes prime property worth several crores in Mumbai and the heirs are unwilling to let go, even if many were not on talking terms with the couple when they were alive. Getting good quality legal help in these matters remains a challenge. A longtime lawyer friend had apparently told the woman that she should will him the properties and that he would settle all dues and donate the money. The sensible lady had spurned the offer.

Madhabi Buch. The party targeted the Modi government and the Adani group and asked the Supreme Court to take suo moto cognizance of the development and reiterated the demand for a Joint Parliamentary Committee into the entire issue of the pending Hindenburg allegations against the business conglomerate. Leader of the Opposition, Rahul Gandhi, said the integrity of Sebi has been gravely compromised by the allegations against its chairperson with the Hindenburg report and asked why the Sebi chief has not yet resigned and urged the apex court to take this up. «Honest investors across the country have pressing questions for the government. Why hasn't Sebi chairperson Madhabi Puri Buch resigned yet? If investors lose their hard-earned money, who will be held accountable — PM Modi, the Sebi chairperson, or Gautam Adani? In light of the new and very serious allegations that have surfaced, will the Supreme Court look into this matter suo moto once again? It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal,» Gandhi said.

PSBs) to issue look-out circulars (LOCs) against defaulters. Lenders have submitted their arguments and are hopeful of a swift resolution. All options, including bringing the banking sector regulator, the RBI, on board, are being examined, said executives aware of the developments. «The government is taking inputs from all stakeholders before making a case for the restoration of the banks' power to issue LOCs,» said a bank executive, adding that the public sector banks (PSBs) might also move the Supreme Court through the Indian Banks' Association seeking reinstatement of this power.

Mexican drug lord Ismael “El Mayo” Zambada has said that he was ambushed and kidnapped when he thought he was going to meet the governor of the northern state of Sinaloa

A small brand safety initiative is ceasing operations — days after being targeted by social media platform X in a lawsuit alleging the group helped coordinate a “massive advertiser boycott” after billionaire Elon Musk bought the company in 2022

justice, 'gram nyayalayas' or village courts are today finding it difficult to live up to their purpose due to manpower shortage and financial crunch. So far 481 gram nyayalayas have been notified by 15 states, of which 309 have been made operational in 10 states, the law ministry told Parliament in the just-concluded Monsoon session. In 1986, the law commission had suggested setting up village courts to provide affordable and quick access to justice to citizens at their doorsteps. After years, The Gram Nyayalayas Act, 2008 came into effect from Gandhi Jayanti the next year. The Act provides for the establishment of gram nyayalayas at the grassroots level to provide access to justice to the citizens at their doorsteps and to ensure that opportunities for securing justice are not denied to anyone due to social, economic or other disabilities.

Supreme Court is scheduled to hear on Monday the bail plea of former Tamil Nadu minister V Senthil Balaji, who was arrested by the Enforcement Directorate last year in connection with a money laundering case. A bench of Justices Abhay S Oka and Augustine George Masih is scheduled to hear Balaji's plea challenging the February 28 order of the Madras High Court dismissing his second bail petition in the case. The high court, while dismissing the bail petition, said that if he is let out on bail in a case of this nature, it will send a wrong signal and it will be against larger public interest. It said the petitioner has suffered incarceration for more than eight months and therefore, it will be more appropriate to direct the special court to dispose of the case within a time frame.