Courts Financial News

A South Korean bankruptcy court judge has called on the government to bolster regulation in the crypto industry, claiming investors need more protection.

ABG Shipyard Ltd, the Gujarat-based shipbuilder accused in India's biggest bank fraud case, created 27 «paper companies» and used 38 Singapore-based group entities to divert the money borrowed from a consortium of lenders led by the ICICI Bank, the Enforcement Directorate said in its chargesheet filed recently in a Gujarat court. 'Move led to cancellation of shipbuilding contracts' In its court documents, the federal agency that probed the money laundering aspect of the ₹22,842 crore alleged scam said part of the funds was transferred to Singapore and utilised for investments in mutual funds in tax havens. It said that the paper companies were floated only to «facilitate circular transactions» of the misappropriated funds. The central agency alleged that ABG Shipyard's founder-chairman, Rishi Agarwal, was «keenly involved» in the diversion and misappropriation of funds.

One of the leading opponents of a Department of Labor rule that could affect the employment status of independent financial advisors is attempting to reboot a lawsuit to stop the regulation.

Crypto exchange Coinbase risks losing one-third of its total revenue due to ongoing legal pressure from federal regulators, according to several analysts familiar with the matter.

FCRA licence of Centre for Policy Research, a leading non-governmental organisation, for alleged violation of rules, ET has learnt. CPR's Foreign Contribution Registration Act licence was suspended eleven months ago. The cancellation order was issued last Wednesday after long deliberations, an official told ET. When contacted, a senior functionary at CPR said it had received the cancellation order.

Apple to a lower court's decision requiring changes to certain rules in its lucrative App Store, as the justices shunned the lengthy legal battle between the iPhone maker and Epic Games, maker of the popular video game "Fortnite." The justices also turned away Epic's appeal of the lower court's ruling that Apple's App Store policies limiting how software is distributed and paid for do not violate federal antitrust laws. The justices gave no reasons for their decision to deny the appeals.

Jindal Power (JPL) Tuesday gave a ₹4,203-crore, all-cash offer for acquiring Lanco Amarkantak Power, topping Adani Power's ₹4,100 crore offer, said people with knowledge of the matter. Last week, JPL sought the bankruptcy court's approval to participate in the sale process of Lanco Amarkantak. On Friday, the Amaravati bench of National Company Law Tribunal (NCLT) directed JPL to submit a plan by Tuesday (January 16) to lenders along with a ₹100-crore bank guarantee.

Disney is hoping a recent decision bolstering a Florida prosecutor’s First Amendment case against Gov. Ron DeSantis helps its own free speech lawsuit against the governor

The Supreme Court has allowed a court order to take effect that could loosen Apple’s grip on its lucrative iPhone app store, and potentially affect billions of dollars in revenue a year

Rapper and entrepreneur Sean “Diddy” Combs has withdrawn his lawsuit against Diageo as part of a settlement with the London-based spirits giant

A federal judge is siding with the Biden administration and blocking JetBlue Airways from buying Spirit Airlines, saying the $3.8 billion deal would reduce competition

A California court has dismissed a lawsuit from a group of fishermen against a conservation group that added New England lobster to its list of seafood to avoid

HSBC has filed a contempt of court case against the Central government, alleging non-compliance with the Bombay High Court's ruling concerning a service tax refund. The Bombay High Court had earlier ruled in favour of HSBC in a service tax dispute and asked the tax department to refund the service tax. HSBC has alleged that the government has not complied with the court order. HSBC had got its books and records audited for the period March 2007 to 2012.

Directorate of Estates on Tuesday issued a notice to evict former TMC MP Mahua Moitra, who was expelled from the Lok Sabha last month, from her government bungalow, sources in the Union Housing and Urban Affairs Ministry said. The Trinamool Congress leader has been asked to vacate the bungalow immediately, which had been allotted to her as an MP, they said. «Since the eviction notice was issued to her (Moitra) on Tuesday, a team of officials from the directorate of estates will now be sent to ensure that the government bungalow is vacated at the earliest,» a source told PTI.

Moh-Juj (buffalo) fights were held in Ahatguri. Assam chief minister Himanta Biswa Sarma attended the event. In December last year Assam cabinet gave in-principle approval to the issue of detailed procedure/SOP for permitting traditional buffalo and bull fights to be organised during Magh Bihu at Ahatguri, Morigaon district, Nagaon district or in any other part of Assam.

moved the Supreme Court against the judgement given by those fraud people. I challenge Rahul Narvekar and (Eknath) Shinde to appear before people and answer the question of whom Shiv Sena belongs to," Thackeray said on Tuesday. ALSO READ: Eknath Shinde-led Shiv Sena ‘real’, rules Speaker | 10 points On January 10, Narwekar held in a long-awaited ruling that the Shinde faction was the real Sena, while dismissing disqualification petitions filed by both Shinde and Thackeray camps against each other's MLAs following a split in the party in June 2022.

The niece and nephew of murdered billionaire Barry Sherman are suing his other heirs over a trust they say may be worth more than $500 million, the latest twist in a bitter family drama that’s erupted in the six years since the crime.

Jammu and Kashmir, as an unlawful association. The Jammu and Kashmir-based group, founded by deceased separatist leader Syed Ali Shah Geelani, was declared outlawed by the government on December 31 under the Unlawful Activities (Prevention) Act, 1967, for five years.

WASHINGTON (Reuters) — The wife of U.S. Senator Bob Menendez on Monday sought to sever the government's corruption case against her from her husband, according to a court document.

By Blake Brittain

Bar and Bench reported. The bench has now referred the matter to the Chief Justice of India (CJI). The plea filed by Chandrababu Naidu had challenged the high court order refusing to quash the FIR against the Telugu Desam Party (TDP) chief by the Crime Investigation Department (CID) in the Skill Development Corporation scam case.