Courts Financial News

By Jonathan Stempel and Luc Cohen

By David Morgan and Richard Cowan

By Jonathan Stempel

Quiver Quantitative — Mitch McConnell, the longstanding leader of the U.S. Senate Republicans, has announced his decision to step down from his leadership role, a position he has held for nearly 17 years. This announcement, made on the Senate floor, marks the end of an era for the party and opens up a significant power vacuum. McConnell, who turned 82 last week, expressed a poignant acknowledgment of the inevitiveness of time and the need for a new generation of leadership. His tenure has been marked by significant achievements, notably his instrumental role in securing a 6-3 conservative majority in the Supreme Court, which led to landmark rulings on abortion and gun rights.

Indian Railways has barred for two years Jakson Ventures Private Ltd (JVPL), one of the largest and oldest suppliers of diesel generators in the country. Jakson is the authorised dealer for US-headquartered diesel genset maker Cummins Inc. Government officials aware of the development said JVPL had forged documents certifying earnest money deposit (EMD) as bank guarantee in a bid called by Central Periodical Overhauling (CPOH) Workshop of the Indian Railways in Prayagraj. Responding to queries from ET, Jakson Group said JVPL is an independent legal entity, which has filed a writ petition in the Allahabad High Court against the Railway Board order.

Sam Bankman-Fried's lawyer says a recommended sentence of 100 years in prison for the FTX founder is “grotesque” and “barbaric” for cryptocurrency crimes

A London judge has ruled that Prince Harry was not improperly stripped of his publicly funded security detail during visits to Britain after he gave up his status as a working member of the royal family and moved to the U.S. Justice Peter Lane said Wed...

Vodafone Idea regarding the applicability of TDS on discounts provided to prepaid distributors for the sale of SIM cards and recharge vouchers. "The appeals filed by the assessee – cellular mobile service providers, challenging the judgments of the High Courts of Delhi and Calcutta are allowed and these judgments are set aside. The appeals filed by the Revenue challenging the judgments of High Courts of Rajasthan, Karnataka, and Bombay are dismissed in terms of the reportable judgment," the judgment noted.

Peter Aceto marked his 54th birthday by carrying out a family tradition: he blew out a candle on his morning Pop-Tart and made a wish.

By Richard Cowan

Varanasi district court on Wednesday fixed March 19 for hearing a plea seeking to stop Muslim devotees walking on top of Gyanvapi mosque's southern cellar, where the court recently allowed Hindu prayers. The plea filed by the Hindu side said the cellar's roof is very old and weak. It also said the pillars of this basement, also known as «Vyas Tehkhana», needed repair. Hindu side's counsel Madan Mohan Yadav said that in-charge District Judge Anil Kumar has fixed March 19 for hearing the petition which also seeks repair of the cellar's pillars. The fresh plea was filed days after the Allahabad High Court said Hindu prayers will continue in the «Vyas Tehkhana» of the Gyanvapi mosque, while dismissing the mosque committee's plea that had challenged the district court's order to this effect.

Mint reported on Tuesday that top investors in Think and Learn Pvt. Ltd, the parent company of Byju’s, who have moved the court to stay the rights issue are likely to skip participating in the edtech firm’s $200-million rights.

Sandeshkhali, is being protected by the police. BJP on Wednesday initiated a two-day dharna in Kolkata on Wednesday, protesting against the "decline" in law and order in West Bengal. Speaking to PTI, former BJP state president and MP Dilip Ghosh said, "Shajahan Sheikh has been hiding under the protection of the police.

National Company Law Tribunal (NCLT) on Wednesday told Byju’s to respond to two separate insolvency petitions filed against the troubled edtech firm by US lenders and the Board of Control for Cricket in India (BCCI). In the first matter, the Bengaluru bench of NCLT provided Byju’s parent Think & Learn three weeks from now to file its objections to a petition filed by Glas Trust Company LLC, the administrative agent appointed by a group of lenders that had extended a $1.2-billion term loan B to its US subsidiary Alpha Inc to collect the debt under the guarantee agreement.

₹250 Crore) dispute, avoiding a prolonged legal battle, on February 29, as per an official release. The settlement was reached through mutual negotiations and approved by the National Company Law Tribunal (NCLT) last week. The formal withdrawal of the case is scheduled for March 1, 2024.

Calcutta High Court on Wednesday directed that Trinamool Congress leader Shajahan Sheikh, the main accused in sexual atrocities on women and land grabbing at Sandeshkhali, can be arrested by the CBI, the Enforcement Directorate (ED) or the West Bengal Police. On a prayer by the state's advocate general, the court clarified its order of February 26 in which it had ordered the arrest of Sheikh by the police authority. Also Read: Sheikh Shahjahan: From trekker driver to TMC strongman A division bench presided by Chief Justice TS Sivagnanam clarified that the court in its February 7 order had only stayed the constitution of a joint special investigation team (SIT) of the CBI and West Bengal Police by a single bench to probe an attack on ED officials.

SpiceJet has mutually settled its Rs 250 crore dispute with AerCap's subsidiary Celestial Aviation, the company said in a stock exchange clarification on Wednesday. With this, the company said it will avoid litigation and save Rs 235 crore. «The representatives of both Parties informed a bench of National Company Law Tribunal (NCLT) last week that settlement terms had been reached and requested an adjournment. The Court graciously granted the adjournment,» it said in a release.

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Wednesday said he hasn't resigned from the post amid the brewing political storm in the state. «There are reports in some media houses that the CM has resigned. I want to clarify that I haven't resigned. I am a warrior,» he said. In addition to this, the state CM said, «We will prove our majority during the Budget Session. I also want to make it clear that the Congress government will complete its full 5-year term.»

Patanjali Foods fell by 4.13% to ₹1,555 apiece in today's early morning trade after the Supreme Court on Tuesday served a contempt notice to Ramdev-owned Patanjali Ayurved and its managing director Acharya Balakrishna for going back on their promise to not make "misleading claims" in advertisements for its medicines. Also Read: SC slaps contempt notice on Patanjali Ayurved for misleading ads The apex court also barred Patanjali from promoting products claimed to cure diseases such as heart ailments and asthma.

Wipro to ‘Sell’ on unattractive risk-reward and has revised the target price on the stock to ₹440 per share from ₹430 earlier, following a sharp 34% stock upmove in the past three months. It believes Wipro stock is expensive at 21X FY2026E earnings and trades at just 6-9% discount to Infosys and HCL Technologies despite significantly weaker fundamentals. Also Read: Vodafone Idea share price falls over 4% after board approval to raise ₹45,000 crore “Wipro has materially underperformed peers such as Infosys and HCL Technologies on growth in the past several years and yet commands hefty multiple of 21X FY2026E earnings, at just a 6-9% discount.

A top court has ruled that two residents of the tiny Caribbean island of Barbuda have the right to challenge construction of an airstrip that critics say endangers fragile ecosystems and was begun without any permits