Courts Financial News

Andhra Pradesh Chief Minister Chandrababu Naidu has announced Rs 5 lakh financial assistance and Rs 10,000 monthly pension for a resident of Kakinada, who allegedly faced harassment from the former YS Jagan Reddy-led YSRCP government. The woman Arudhra called on Chief Minister at the State Secretariat on Friday along with her daughter, Sailakshmi Chandra. She explained to chief minister and the TDP leader Chandrababu how she was «harassed» by the YSRCP government and that her daughter is suffering from serious backbone problems, according to a statement released by the TDP.

Congress workers on Saturday held a 'Matka Phod' (break pitchers) protest in Delhi's Krishna Nagar area against the AAP-led Delhi government and the BJP-led government at the Centre to highlight the water crisis in the national capital. A Congress worker told ANI, «The public is being cheated in the name of water. Poor people are suffering the most. The governments are playing the blame game. Why was water not arranged in advance? They were busy doing politics. The Congress party will hold a 'matka phod' protest in Delhi to wake up the deaf and dumb government. They have connived with tanker mafia.» He added,«The Congress has resolved that 'matka' will be broken in every corner of Delhi and the sleeping government will be awakened.»

Sundar Pichai, the CEO of Google, said in a New York courtroom Friday that he never discussed a possible takeover of Ozy Media. Pichai is the highest-profile witness to testify so far in the trial of Carlos Watson, the founder of Ozy who is accused of misrepresenting his company's financial results, funding and audience data to investors and lenders from 2018 to 2021.

Delhi High Court has dismissed audio entertainment platform Pocket FM's plea seeking an interim injunction against Disney+ Hotstar's Telugu video web series 'Yakshini' over alleged copyright violations. Pocket FM had moved the court contending that Disney+ Hotstar's video series had many similarities with its audio series by the same name. The audio platform also claimed that it had given its audio series ‘Yakshini’ to Disney+ Hotstar for adaptation into a video series. While dismissing Pocket FM's application, the vacation bench of Justice Neena Bansal Krishna said an interim injunction cannot be granted at this stage since no concrete facts have been established to prove that there is a copyright violation of expression of idea.

Pune Porsche car crash case has moved the Bombay High Court, claiming that the teenager's detention was «illegal» and sought his immediate release. The boy is currently lodged at an observation home in Pune. The petitioner, in its habeas corpus plea, stated that she was compelled to file the petition against the respondents (Pune Police) for their «abuse of process and blatant disregard» for the rule of law, further compounded by the «arbitrary and illegal detention» and its continuation under a remand order passed by the Juvenile Justice Board, Pune, in «complete violation» of the provisions of the Juvenile Justice (Care and Protection of Children) Act, 2015, thereby keeping the nephew of the petitioner, the Child In Conflict with Law (CCL), in «illegal detention.»

NEW DELHI : New Delhi: A majority of the companies defaulting on repayments of small loans, and their creditors, are seeing the wisdom in avoiding long-drawn bankruptcy proceedings and the risk involved, opting to settle their disputes out of court. But when the stakes are high, the parties tend to remain locked in tribunals. About 80% of the out-of-court settlements once bankruptcy proceedings were initiated were for debt up to ₹10 crore, show data from the Insolvency and Bankruptcy Board of India (IBBI).

Wells Fargo this week became the latest employer to be sued over how it uses forfeited 401(k) assets.

Supreme Court on Friday issued a notice on a plea seeking a CBI probe into alleged instances of paper leak and malpractices in the conduct of NEET-UG 2024 examination held on May 5. A vacation bench, comprising justices Vikram Nath and Sandeep Mehta, tagged the plea with existing cases raising similar issues. The bench directed the National Testing Agency (NTA) to respond within two weeks. The bench verbally observed that it is mindful of the fact that the issue at hand involves the future of 24 lakh students.

The Supreme Court has struck down a Trump-era ban on bump stocks, a rapid-fire gun accessory that was used in the deadliest mass shooting in modern U.S. history

A federal judge says the government’s antitrust case against Google over its advertising technology will go to trial in September, rejecting both sides’ request to rule in their favor as a matter of law

A shift in opinion by Vanguard, Tesla’s largest outside investor, played a pivotal role in passing a record-setting pay arrangement for CEO Elon Musk during the company’s annual meeting on Thursday, according to Reuters.

Supreme Court on Friday stayed the National Company Law Appellate Tribunal’s order that initiated insolvency proceedings against Uttar Pradesh government-owned Purvanchal Vidyut Vitran Nigam. A vacation Bench of Justice Sanjay Kumar and Justice Augustine George Masish also issued a notice to its operational creditor S.R.V. Techno Engineering and posted the matter for further hearing on July 26. S.R.V. Techno Engineering had in 2019 moved the National Company Law Tribunal, Allahabad bench, seeking to initiate insolvency proceedings against Purvanchal for failing to pay debt of Rs 4.43 crore including interest. Thereafter, S.R.V also filed arbitration proceedings against the UP firm Nigam in 2022 where an arbitrator awarded Rs 1.73 crore to it in 2023.

U.S. Supreme Court on Friday declared unlawful a federal ban on «bump stock» devices that enable semiautomatic weapons to fire rapidly like machine guns, rejecting yet another firearms restriction — this time one enacted under Republican former President Donald Trump. The justices, in a 6-3 ruling authored by conservative Justice Clarence Thomas, upheld a lower court's decision siding with Michael Cargill, a gun shop owner and gun rights advocate from Austin, Texas, who challenged the ban by claiming that a U.S. agency improperly interpreted a federal law banning machine guns as extending to bump stocks. The conservative justices were in the majority, with the liberal justices dissenting.

Arundhati Roy and former Central University of Kashmir professor Sheikh Showkat Hussain under the stringent Unlawful Activities (Prevention) Act for allegedly making provocative speeches at an event in 2010, according to Raj Niwas officials. It was alleged that Roy, while delivering a speech at the conference, strongly propagated that Kashmir was never a part of India and was forcibly occupied by the Armed Forces of India. The FIR against Roy and Hussain was filed following orders from the Court of Metropolitan Magistrate, New Delhi. «Delhi Lt Governor VK Saxena has sanctioned the prosecution of Arundhati Roy and former Professor of International Law in Central University of Kashmir, Dr. Sheikh Showkat Hussain, under section 45 (1) of Unlawful Activities (Prevention) Act in the case,» a Raj Niwas official said.

CBI conducted searches at 14 locations on Friday after registering an FIR into the alleged Rs 5717-crore bank fraud by Chhattisgarh-based SKS Power Generation Ltd, officials said. In its FIR, registered on the orders of Allahabad High Court, the CBI has alleged that company promoted by SKS Ispat and Power Ltd. (SKSIPL) had availed Rs 6,170 crore loan from State Bank of India (SBI), L&T Infrastructure Finance Limited, PTC India Finance Limited, and State Bank of Bikaner and Jaipur which resulted in the default of Rs 5717 crore, they said. The CBI has booked Anil Mahabir Gupta, Director of SKS Power Generation (Chhattisgarh) Ltd, Anish Anil Gupta, Director of SKS Ispat and Power Limited, Mumbai and 26 others including two officers of State Bank of India, they said.

Tesla shareholders voted Thursday to restore CEO Elon Musk’s record US$44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker.

liquidators of China Evergrande Group are investigating some of the property developer's service providers including its former auditor PricewaterhouseCoopers, to potentially recoup losses for creditors, three sources said. Evergrande, once China's largest property developer, was ordered to be liquidated by a Hong Kong court in January, after it failed to deliver a concrete restructuring plan for its $23 billion worth of offshore debt deemed to be in default.

The Supreme Court has ruled against a man who wants to trademark the suggestive phrase “Trump too small.”

Disney has asked a federal appellate court to dismiss its lawsuit against Florida Gov. Ron DeSantis

Maharaj", the debut film of Bollywood star Aamir Khan's son Junaid, on Netflix after followers of Pushtimarg, a Vaishnava sect of Hinduism, claimed that it would hurt their religious sentiments. A single-judge bench of Justice Sangeeta Vishen on Thursday passed an order against the film slated for release on Netflix on Friday. The bench also issued notices to the Centre, Netflix and Yash Raj Films, which has produced the film, and posted the matter for further hearing on June 18. Eight members of the Pushtimarg sect filed a petition against the release after they came across articles about the film, apparently based on the famous Maharaj Libel Case of 1862.

Arvind Kejriwal's aide Bibhav Kumar in the case against him for allegedly assaulting AAP Rajya Sabha MP Swati Maliwal. Earlier on June 7, a trial court in Tis Hazari had refused to grant him bail, saying he was facing «grave and serious» charges and that there was an apprehension that he could influence witnesses. In his plea before the high court, Kumar said the trial court failed to consider the fact that his further custody was not required as all evidence has been collected by the investigating officer and statements of witnesses have also been recorded.