Courts Financial News

DK Shivakumar on Tuesday hailed the Supreme Court verdict quashing the money laundering case registered against him by the Enforcement Directorate (ED) I 2018. «Today is a happy day for me in my difficult life,» Shivakumar, who is also the president of the Karnataka Pradesh Congress Committee (KPCC) said, after hearing the news. «I have received a big relief from the Supreme Court,» he told the media, while offering his pranams to the court. The investigating agencies have been proved wrong, Shivakumar said. The Dy CM added that he heard the probe agency was preparing to appeal the verdict, and he was also prepared for a long battle.

The Maharashtra government on Tuesday moved the Supreme Court against the decision of the Bombay High Court acquitting former Delhi University professor GN Saibabab and five others in a case of alleged links to Maoists.

Hemant Soren next month holding him prima facie guilty of disobeying notices issued to him by the Enforcement Directorate. The agency had filed a complaint against the senior Jharkhand Mukti Morcha (JMM) leader last month, stating he failed to join the investigation in a money laundering case linked to an alleged land grab case even after seven summonses were issued to him under section 50 of the Prevention of Money Laundering Act (PMLA). The first such notice was issued to Soren for his appearance before the ED on August 14 last year. Hemant Soren should be prosecuted under the Indian Penal Code section 174 (non-attendance in obedience to an order from public servant), the Enforcement Directorate (ED) had requested the court in its complaint filed under sections of the PMLA and the IPC.

SBI sought time until June 30 to disclose details of each electoral bond encashed by political parties. In its verdict last month, the Supreme Court had directed the SBI to furnish the details to the poll panel by March 6.

Scheme creditors, or investors in the fund at the time of suspension, are likely to receive their first redress distribution related to Link Fund Solutions' role in the collapse of the fund this April. The Financial Conduct Authority-backed scheme became effective at 9am this morning, following two court hearings and a vote on the proposal. FCA reasserts proposed Woodford redress is 'subset of total losses' as sanction decision delayed Creditors need to take no action to receive their first distribution, with the payments arriving in their accounts in the same form any of the past ...

Fantom Foundation, the team that builds Fantom Network, has received a favorable judgement from the High Court of Singapore in its legal action against the cross-chain protocol Multichain.

By Scott Murdoch and Clare Jim

Kerala Finance Minister K N Balagopal said that the financial disparities imposed by the BJP-led Union Government on Kerala go beyond politics, posing a significant challenge to cooperative federalism, and called on the Central government to ensure fair treatment for all states. «The BJP-led Union Government's financial discrimination against Kerala is not just a political slogan but a question of cooperative federalism, and it is the duty of the Central government to protect the interests of the states,» the minister told PTI in an interview on Monday night. Balagopal, who has been challenging the BJP-led Centre for its alleged discrimination against Kerala on financial matters for quite some time, said that the issue has now been raised by other non-BJP ruled states, including Congress-ruled Karnataka, as the states are feeling strangled by the Centre.

BJP on Tuesday lashed out at the opposition parties' INDIA bloc over reported remarks of DMK leader A Raja against Hinduism and Lord Ram and said insulting India's ethos publicly and humiliating Hindu gods has become the hallmark of their political agenda. Addressing a press conference at the BJP headquarters here, senior party leader and former Union minister Ravi Shankar Prasad noted that DMK MP Raja in his latest speech in Tamil has said «India is not a nation. Understand this well. India is never a nation. One nation means one language, one tradition, one culture. Then, only it is a nation. India is not a nation but a sub-continent». «This is Maoist ideology,» Prasad charged, reacting sharply to the DMK leader's reported remarks. Prasad further quoted Raja who said in his speech «if this is your Jai Shri Ram, if this is your Bharat Mata Ki Jai, we will never accept that Jai Shri Ram and Bharat Mata. Tamil don't accept. You go and tell (that) we are enemies of Ram».

Calcutta High Court on March 5 transferred the investigation into the attack on ED officials by Sandeshkhali incident accused Shajahan Sheikh in West Bengal to the CBI. The SC concluded its hearing of ED’s application to transfer the investigation into the assault of agency officers in Sandeshkhali from CID to CBI yesterday, but reserved its judgement. The allegations against the accused include land grabbing and sexual assault. The SC had taken cognizance of the case suo motu.

Calcutta High Court Judge Abhijit Gangopadhyay today announced that he is joining BJP, hours after resigning as judge of Calcutta High Court. Earlier in the day, Justice Abhijit Gangopadhyay announced his resignation from the Calcutta High Court, citing personal reasons. Several lawyers and litigants requested Justice Gangopadhyay to reconsider his resignation, expressing their gratitude for his judicial service. Mitali Das, a litigant from Bolpur in Birbhum district, traveled nearly 180 km to Kolkata to plead with folded hands, tears streaming down her cheeks. Das, a mother in need, recounted receiving crucial medical aid for her daughter through Justice Gangopadhyay's court orders. Witnesses described emotional scenes in the courtroom, with another woman likening Justice Gangopadhyay's courtroom to a sacred temple. Amidst heartfelt appeals, some lawyers urged him to extend his tenure until his scheduled retirement later this year.

Also Read | Siddaramaiah, DK Shivakumar explain how Rameshwaram Cafe blast happened: 'Youngster ate breakfast, left a bag and...' The apex court's decision on March 5 marked the culmination of a legal battle initiated in 2018 when Shivakumar first came under scrutiny regarding alleged money laundering activities. The amount in question was reported to be ₹8.59 crore (approximately $1.1 million).

Stock market today: SpiceJet share price today witnessed buying interest as the aviation company has declared to have settled down ₹93 crore dispute with the aircraft leasing company Cross Ocean Partners. Both the companies made a joint announcement before the Delhi High Court on Tuesday.

Supreme Court on March 5 quashed proceedings initiated against Karnataka Deputy chief minister DK Shivakumar in a 2018 money laundering case. Shivakumar was first arrested in the case in September 2019 following several rounds of questioning in a case that emerged from an Income tax department action against him. The Delhi High Court had granted him bail in October of that year.

SpiceJet on Tuesday said that it has settled Rs 93-crore dispute with one of its aircraft lessor Cross Ocean Partners. SpiceJet said that as part of the arrangement, the airline will also benefit from transfer of airframe and an engine at no additional cost, augmenting its operational capabilities. The carrier last week said that it has mutually settled a Rs 250 crore dispute with another lessor Celestial Aviation.

Justice Abhijit Gangopadhyay, has declared his decision to step down from his position, preceding his retirement later this year. Renowned for his adjudications on education-related matters, Justice Gangopadhyay revealed to a TV channel his intention to delve into politics. «I am going to resign from the post of a judge in High Court Calcutta. For the last two or more years I have been dealing with some matters, especially education matters, regarding which a huge corruption has been discovered and unearthed. A large number of important persons in the education sector of this government are now languishing in jail, under trial,» he told ANI. «Thereafter, now I am taking labour matters. There are also large scams of employers concerning provident fund gratuity, etc. I have also passed certain orders in those respects. But what I have failed while doing these matters of labour matters, labour legislation, that I have felt that my job in this duty is over. This is the call of my conscience,» Justice Gangopadhyay said.

India takes safety of women very seriously: NCW chief spars with US-based writer Singer Chinmayi on the X platform wrote, "If all Indians can be proud when ‘few’ Indians win an Olympic medal. All Indians can also be ashamed when ‘few’ men rape". Meanwhile, on Tuesday, Jharkhand Police has handed over a compensation of ₹10 lakhs to the husband of the victim.

Real estate tycoon Truong My Lan faces the death penalty for allegedly embezzling $12.5 billion

Former senior executives of Twitter are suing Elon Musk and X Corp., saying they are entitled to a total of more than $128 million in unpaid severance payments

A key hearing over the future of Puerto Rico’s crumbling power company and its staggering $9 billion debt has begun following years of acrimonious talks between the U.S. territory’s government and creditors seeking to recover their investments

Stocks that traded heavily or had substantial price changes on Monday: Macy’s, United Rentals rise; Apple, Spirit Airlines fall