Courts Financial News

Supreme Court on Thursday dismissed an appeal by the Jalan Kalrock Consortium (JKC), the successful bidder for takeover of grounded Jet Airways (India), seeking to halt sale of the airline's three aircraft to a Malta-based aviation company. A Bench led by Justice Abhay S Oka upheld the National Company Law Appellate Tribunal's December order that allowed the sale of the aircraft to Ace Aviation VII. The apex court also observed that the sale of aircraft to the aviation company would in fact help the consortium to revive the embattled airline. JKC had challenged the jurisdiction of the NCLT or the appellate tribunal to direct specific performance of the Letter of Intent, saying the LoI does not have a binding contractual value. It further argued that the NCLAT had failed to consider that it was being «prejudiced for the fault of a third party that has no locus to submit an application before the NCLT essentially seeking specific performance against the monitoring committee of the corporate debtor, having no privity to the resolution plan or its implementation.»

Harbouring a copy of Mein Kampf or My Experiments with Truth doesn't make its possessor a fascist or a Gandhian, respectively. Actions do. This principle was reiterated by the Nagpur bench of Bombay High Court this week when it freed former Delhi University professor G N Saibaba and five others in a case accusing them of harbouring Maoist links. The six were arrested in 2013-14 by Maharashtra Police, charged under UAPA, and convicted by a trial court in 2017 for their alleged membership of the banned CPI(Maoist) and its group, Revolutionary Democratic Front. The trial court's ruling in which their possession of Maoist literature was conflated with breaking the law needed to be overturned.

Delhi University professor G N Saibaba, who was released from the Nagpur Central Jail on Thursday after his acquittal in an alleged Maoist links case, said it's a «wonder that he could come out alive» despite suffering the «brutal» jail life. Saibaba (54) said he was targeted for working for the rights of tribals in central and eastern parts of the country and called his arrest an «afterthought». The Bombay High Court on Tuesday set aside the life sentence of Saibaba, noting that the prosecution had failed to prove the charges beyond a reasonable doubt. «There was every chance that I would not have come out alive,» Saibaba told media persons. He had earlier refused to talk to the press saying, «My health is very bad. I can't talk. I will have to first take medical treatment, and then only I will be able to speak.»

The bankruptcy court in Ahmedabad has rejected Gujarat-based Express Group of Hotels’ revival plan for Neesa Leisure Ltd, which operates a luxury hotel chain under the brand Cambay. The company has admitted liabilities of Rs 1,580 crore, whereas the resolution plan approved by the lenders proposed to give Rs 150 crore to them to acquire the company through the bankruptcy process. The successful resolution applicant had proposed Rs 250 crore towards capex and fresh funds, bringing the total value of the plan to Rs 400 crore.

Wrestling Federation of India (WFI), which has been placed under suspension by the Centre, told the Delhi High Court on Thursday it will withdraw its circular on conducting selection trials for the Senior Asian Wrestling Championships 2024 and Asian Olympic Games Qualifier Wrestling Tournament. Taking note of the statement made by WFI's counsel, Justice Sachin Datta said the trials shall proceed as per the circular issued by the ad-hoc committee supervising the affairs of the Wrestling Federation of India. The ad-hoc committee of the WFI had issued a press release on February 9 saying it will hold the trials for the Asian Olympic Qualifiers (April 19-21) and World Olympic Qualifiers (May 9-12) on March 10 and 11 at Netaji Subhas National Institute of Sports, Patiala and Sports Authority of India (SAI) complex in Sonipat.

BJD and TDP walking into the NDA fold close on the heels of JDU and RLD, the old BJP-led grouping in the Atal-Advani era is again taking shape as many of the erstwhile allies are set to be back. However, unlike the NDA-I government that was stitched together with the help of 24 parties and survival was at their mercy, BJP now needs these partners to meet its ambitious target of 400 plus seats in the 2024 Lok Sabha elections. Though BJP had got a clear majority in 2014 general elections with 182 seats, it followed the coalition dharma and inducted members from its alliance parties like SAD, TDP, and Shiv Sena. But within months it became clear that the these NDA partners had little say Modi government and fissures appeared in the Assembly elections between BJP and its allies in various states. The post of NDA convenor had stayed with JDU for many years and Sharad Yadav had played this role after George Fernandes. However, with Nitish Kumar snapping ties with BJP in 2013, the post fell vacant and the saffron party filled in whenever any coordination had to be done. TDP Chief Chandrababu Naidu made a feeble attempt to don the convenor’s hat but was subtly eased out by the BJP.

Twenty-five Republican-led states have joined lawsuits challenging a new Biden administration rule that sets tougher standards for deadly soot pollution

A Montenegrin court has ruled that cryptocurrency mogul Do Kwon should be handed over to his native South Korea, the latest twist in the months-long legal procedure that followed the arrest of the Terraform Labs founder in the Balkan nation last year

Supreme Court on Thursday listed the hearing of the petition filed by the Shiv Sena-Uddhav Thackeray faction on April 8, 2024 and summoned original records about the disqualification of MLAs of Eknath Shinde group, including the chief minister, from the office of Maharashtra Legislative Assembly Speaker. It is important to note that the Maharashtra Assembly Speaker Rahul Narwekar had—in an order on January 10, 2024—declared the Shiv Sena-Eknath Shinde group as the "real political party" after its split in June 2022.

Fortis Healthcare , Max Healthcare Institute, Healthcare Global (Medanta) , Apollo Hospitals Enterprise ltd share price have declined up to 13.5% in last one month. The Supreme court directive to homogenize prices across hospitals has led to increased concerns on the regulatory risks.

added that some people are spreading fake information about Sandeshkhali, where women have accused TMC leaders of sexually abusing them. She asserted that the state is the safest place in the country for women.

OpenAI's investor Microsoft and its co-defendant in the New York Times (NYT) lawsuit on Monday sought to dismiss parts of NYT's plea on the grounds that the news organisation did not show any “actual harm” or meaningful diversion of revenue from its website due to use of artificial intelligence (AI) models like ChatGPT. The NYT had sued the two tech firms in December 2023, alleging that they were trying to create a substitute of the newspaper and even trying to “free-ride on the Times’s massive investment in its journalism”.

Supreme Court sought the Centre's response on Thursday on a PIL seeking a direction to authorities to provide palliative care to terminally-ill persons as part of the national health programme. A bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra took note of the submissions made by senior advocate Jayna Kothari, who appeared in the court on behalf of the petitioner, that palliative care should be recognised and made part of the national health programme. The court did not agree to one of the prayers in the public interest litigation (PIL) matter filed by Bengaluru resident Rajshree Nagaraju that the right to get palliative care be declared as a part of right to health under Article 21 (protection of life and liberty) of the Constitution. «You seek mandamus (a writ) stating palliative care comes under Article 21. I do not think that you need to pursue this prayer. The right to palliative care is part of the right to health and life… Article 21 covers all aspects of human existence,» the CJI said.

State Bank of India has not provided information on electoral bonds encashed by political parties as of March 6, missing the Supreme Court's deadline, PTI reported. The bank had on March 4 requested an extension until June 30 to disclose details, but the plea has not yet been scheduled for a hearing by the apex court. In its plea, SBI argued that retrieving information from various sources and matching data between silos would be time-consuming.

Arvind Kejriwal asks ED for virtual hearing after March 12 "How people are included in BJP by getting harassed by ED. After getting the ED raid done, the question is asked - where will you go - BJP or jail? Those who refuse to go to BJP, they send them to jail," wrote the Delhi Chief Minister on the X platform. Yesterday, TMC MLA Tapas Roy joined the BJP.

TOI report, in the affidavit submitted to the High courts of Punjab and Haryana, the administration stated that it would refund the money deposited by the petitioners and the other applicants. Coming back to Bansal, he said that the UT administration shelved the housing scheme more than 16 years after it was introduced. He added that the decision was made in response to an increase in land costs, which has led to breaking the dreams of over 4,000 employees, many of whom even passed away while waiting for a flat, a report by Hindustan Times stated.

One thing that opponents and supporters of the SEC climate rule have agreed on is that there was compromise in the final version passed Wednesday. But for those against it, there clearly wasn’t enough. And champions of the rule were left with something that they say is barely a step forward, nowhere near sufficient to address the major issues presented by climate change that affect public companies’ finances.

By Dietrich Knauth

A federal judge has banned a Florida gun retailer from selling certain gun parts in New York that officials say can be used to assemble untraceable ghost guns and sold without background checks

Chicago voters will get the chance this month to decide on a ballot measure that would levy a one-time tax hike on luxury properties to pay for services for homeless people, according to a panel of Illinois appeals court judges

After a year of basking in global fame, the San Francisco company OpenAI is now confronting a multitude of challenges that could threaten its position at the vanguard of artificial intelligence research