Courts Financial News

New Jersey, has been indicted for illegally evading customs duties for millions of dollars of jewellery imports into the US and operating unlicensed money transmitting businesses, a US attorney has said. Monishkumar Kirankumar Doshi Shah (39) was arrested over the weekend and appeared on February 26 before US Magistrate Judge André M Espinosa in the Newark federal court.

Investing.com-- Hong Kong-listed Chinese property stocks fell on Wednesday, coming under pressure from renewed concerns over a real estate meltdown after Country Garden (HK:2007) was slapped with a liquidation petition. 

Investing.com-- Most Asian stocks kept to a tight range on Wednesday amid persistent caution over higher-for-longer U.S. interest rates, with Japanese indexes pulling back from record highs as a tech-driven rally cooled. 

By Scott Murdoch and Clare Jim

Vodafone-Idea: Cash-strapped private telecom operator, Vodafone-Idea, on Tuesday saw its board approve a ₹45,000-crore fund raising initiative—including a ₹20,000 crore equity-based fund raise from existing investors. A shareholder meet for the fund raise is expected to take place on 2 April, post which the operator expects to complete the equity fund raise by the end of the upcoming June quarter.

₹2,500-crore IPO to open on Feb 28 OIL to announces global partner roadshow in Abu Dhabi Feb 28 Goa ST quota: Note to be placed before Union cabinet Feb 28 Gyanvapi suit: Hearing set on Feb 28, court considers new parties WB: Mamata to visit Jhargram on Feb 28 INSAT-3DS is set to be at its ‘In Orbit Testing’ location by Feb 28 Telangana: Semi-Finals of Pro Kabaddi League Feb 28 Vivo V30 Pro With 50-Megapixel Primary Camera Set to Launch Feb 28 Birth Anniversary: Morarji Ranchhodji Desai Death Anniversary: Kamala Kaul Nehru, Rajendra Prasad National Science Day to honour the discovery of the 'Raman Effect' (India) Bill Gates to visit Odisha on Feb 28Milestone Alert! Livemint tops charts as the fastest growing news website in the world

New Delhi: The taxman will defer to secured creditors such as banks while sharing the proceeds of a bankruptcy rescue, two people aware of the government’s plans said. The Centre will amend the Insolvency and Bankruptcy Code (IBC) to unambiguously state that tax authorities will be below secured creditors having a charge on the assets of a corporate borrower in hierarchy while distributing the proceeds, the people cited above said on condition of anonymity. This is a key proposal in the amendments to the IBC that the ministry of corporate affairs has prepared in consultation with the sector’s rule maker Insolvency and Bankruptcy Board of India (IBBI).

Starbucks and the union organizing its U.S. workers say they have agreed to begin talks with the aim of reaching labor agreements

New York Life has agreed to pay $19 million to end a lawsuit over the company’s use of its own investment products in its 401(k) plans.

MUMBAI : Hostile investors in Think and Learn Pvt. Ltd, the parent company of Byju’s, are likely to skip participating in the edtech firm’s $200-million rights issue that will conclude on Wednesday at midnight, people familiar with the developments said. Prosus NV, Peak XV Partners, General Atlantic, and Sofina SA had collectively filed a petition with the National Company Law Tribunal last week against the rights issue, seeking reprieve citing oppression and mismanagement of the company.

Brian Kahn, whose role in the collapse of a US hedge fund has drawn scrutiny from prosecutors and battered shares of B. Riley Financial Inc., has been accused of defaulting on parts of a settlement meant to help repay investors who lost hundreds of millions of dollars. 

Delhi Chief Minister and party's national convener Arvind Kejriwal. AAP leader Sandeep Pathak made the Lok Sabha candidate list announcement, “There will be a total of 23 (Lok Sabha) candidates of AAP, of which five have already been announced. Today, we are announcing five more candidates of which four are from Delhi and one from Haryana.

CBI director to file a status report in the Embraer aircraft deal corruption case, noting the probe is not complete even after seven years and no purpose will be served to proceed with the trial with a «half-baked case». The agency had filed a charge sheet against arms dealers Arvind Khanna, advocate Gautam Khaitan and businessman Anup Gupta on June 1 last year in the corruption case where kickbacks to the tune of USD 5.76 million were allegedly paid to swing a three-aircraft deal with the DRDO in favour of the Brazilian firm. The court had taken cognisance of the charges against the accused last year, but the trial could not proceed because the CBI did not apprise the court of how much more time was required to conclude the investigation. Underlining that the investigation is not complete even after seven years of registering the case, special judge Gaurav Rao said, «Let a detailed report be filed by the IO (Investigating Officer), duly forwarded by the Director CBI, as to how much time he requires to conclude the investigation as the reports already filed so far are almost verbatim of the previous reports.»

Chennai's famous mosque in Koyambedu, SC says that unauthorised religious structures on public land can never be a venue for preaching religion. «Move the mosque somewhere else, illegal encroachment in the name of religion will not be permitted, SC added. The apex court, presided over by justices Surya Kant and KV Viswanathan, underscored the obligation of states and high courts to ensure the eradication of such encroachments, regardless of whether they are temples, churches, mosques, or gurdwaras. The directive came in response to an appeal concerning a mosque unlawfully erected on public land in Chennai, Tamil Nadu. The Madras High Court had previously ordered the removal of the mosque, a decision contested by the Hidaya Muslim Welfare Trust, represented by senior advocate S Nagamuthu.

Patanjali Ayurved's Baba Ramdev and Acharya Balakrishnan and asked why contempt proceedings should not be initiated against them for violating its orders. The top court was hearing Indian Medical Association's plea seeking action against Baba Ramdev and Patanjali Ayurved for defaming evidence-based medicine The SC said that the government was sitting with its eyes closed and asked it to take action against Patanjali.

Enforcement Directorate has issued summons to Delhi Chief Minister Arvind Kejriwal for the eighth time for his questioning in an excise policy-linked money laundering case, official sources said on Tuesday. They said Kejriwal, the national convenor of the Aam Aadmi Party, has been asked to depose on March 4 at the agency's headquarters here. On Monday, Kejriwal, 55, skipped the seventh summons issued to him in the case, saying he would appear before the agency if a court ordered him to do so. A city court, approached by the Enforcement Directorate (ED) over Kejriwal skipping its summonses, has directed the chief minister to appear before it on March 16.

Charan Kaur, the parents of slain singer Sidhu Moosewala. The pair are expecting another baby. According to an Indian Express report, Kaur is expected to deliver the baby soon. The news has come as a pleasant surprise to the ageing couple, both of whom are in their fifties. Moosewala was their only son. The rapper-singer was shot dead by a group of unknown assailants on 29th May 2022, days before his 29th birthday. About 31 people have been named in the murder case, including gangsters Lawrence Bishnoi and Goldie Brar. Before his death, the rapper unsuccessfully contested the Punjab Assembly elections on a Congress ticket from Mansa in 2022.

Maharashtra Government has ordered an SIT to probe the Maratha reservation agitation led by activist Manoj Jarange Patil. The move came after Jarange Patil accused Maharashtra deputy CM of conspiring to target him. Speaking in the Maharashtra Legislative council on Tuesday, CM Eknath Shinde said "«Many leaders have become big on the issue of Martha reservation, Jarange patil raised demands for Maratha reservation he didn't had any political background and even I went to him.Keeping all the protocols aside I visited him twice. But now he is making remarks against DCM, our ministers and on the government… why? He is using low level language against the DCM, this language is not of karaykarta it's a political language. There are many other castes leaving in the state but this is an attempt to creat conflict between castes too. We won't tolerate such language against anyone. So let SIT investigate the matter and doodh ka doodh paka pani hone do» «We have given reservation to Maratha and it will stand in the court too all the guidelines and norms of court has been studied properly and accordingly. We have given reservation, there is no injustice done on any other community but people are spreading rumours that this reservation won't stand in court why? Who is spreading this?» the Maharastra CM said.

₹9,362.35 crore. Mint explains the circumstances behind the various legal cases Byju’s is battling. On 22 February, a consortium of four Byju’s investors—Prosus NV, General Atlantic, Sofina, and Peak XV Partners, with support from Tiger Global and Owl Ventures—moved the Bengaluru bench of the NCLT against the edtech firm’s rights issue.

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₹9,861 crore to acquire Reliance Capital, which was subsequently approved by the administrator. The bid also received overwhelming support from creditors, with a 99% majority voting in favour. However, Hinduja was embroiled in a legal battle with Ahmedabad-based Torrent Investments regarding the submission of bids under the corporate insolvency resolution process (CIRP).