Courts Financial News

Supreme Court on Friday restored China Development Bank, Exim Bank of China, Asset Care and Reconstruction Enterprises and others as financial creditors in the insolvency process of Reliance Infratel Ltd, which is now acquired by Reliance Project & Property Management Services, a subsidiary of Reliance Jio Infocomm. A Bench led by Abhay S Oka struck down a 2022 order of the National Company Law Appellate Tribunal that declassified these four indirect creditors of Reliance Infratel including China Development Bank, etc as financial creditors of the beleaguered telecom company. Reliance Infratel’s resolution professional had earlier admitted claims worth Rs 41,055 crore from 35 financial creditors, including Rs 10,952 crore of China Development Bank and other three creditors.

alimony case, domestic violence and divorce petition, all of them. The wife even filed an FIR against his 85-year-old father, his son from first marriage, his aunt's son, his relatives and his ex-wife who lives in the USA. There was also a twist in this case as the lawyer representing the wife said she wanted to get back with him. However, the husband declined this offer and sought divorce on the ground of cruelty. Moreover, the husband filed a police complaint against his wife claiming that she threatened him with dire consequences like taking her own life and filing false criminal cases against him and his family. The primary reason behind the long police, family court, supreme court proceedings was demand for more alimony by wife after taking Rs 12 lakh from her husband during the course of their married life. This was despite his wife having Rs 1.05 crore worth of bank FDs, cash, etc. His wife argued that he had both the means and ability to provide more alimony. She also claimed that her husband had Rs 5,000 crore worth of assets, a USA based business and multiple house properties in Pune, Bhopal and in other cities. While the husband was ready to offer Rs 20 to 40 lakh as permanent alimony, his wife demanded at least Rs 500 crore and one of the properties owned by the husband's 85-year-old father.

As reported by the Times of India, the man had been ordered by the court to pay Rs 2 lakh as interim maintenance to his wife, who filed for divorce last year. The resident of Vadavalli, who requested anonymity, owns a taxi. Reportedly, he arrived at the court premises on Wednesday with his car loaded with 20 bundles of coins.

Aam Aadmi Party on Friday replaced its Mehrauli candidate Naresh Yadav, convicted last month in the Quran desecration case, with Mahender Chaudhary for the upcoming Delhi Assembly polls. Yadav, the sitting MLA from Mehrauli, was convicted by a Punjab court with two-year sentence in the 2016 Quran desercration case. Aam Aadmi Party (AAP) national general secretary (organisation) Sandeep Pathak issued the party's fifth list and named Chaudhary as the candidate from Mehrauli seat. Earlier in the day, Yadav said in a post on X that he met AAP convener Arvind Kejriwal to inform him about his decision not to contest the polls till he is acquitted by the court in the case against him.

electronic voting machines will be heard by a bench headed by Justice Dipankar Datta in January next year. A bench comprising Chief Justice of India (CJI) Sanjiv Khanna and Justice Sanjay Kumar said the fresh plea of former Haryana minister and five-time MLA Karan Singh Dalal and one Lakhan Kumar Singla on the issue will be heard by a bench headed by Justice Datta in the week commencing January 20, 2025. A bench comprising Justice Khanna and Justice Datta had delivered a verdict earlier in April rejecting the demand for bringing back the old paper ballots. At outset, senior advocate Maninder Singh, appearing for the Election Commission, sought dismissal of the plea, saying that similar petitions for same reliefs were rejected earlier.

Om Prakash Chautala, popularly known as O.P. Chautala, was one of Haryana’s most prominent political figures, who carried a deep-rooted legacy in Indian politics. Born on January 1, 1935, Chautala passed away on December 20, 2024, aged 89. Serving as the Chief Minister of Haryana a record four times, Chautala was a stalwart of the Indian National Lok Dal (INLD), a party founded by his father, Chaudhary Devi Lal, the sixth Deputy Prime Minister of India.

Subscribe to enjoy similar stories. NEW DELHI : The Supreme Court on Friday upheld the claims, amounting to more than ₹10,952 crore, of four indirect creditors of Reliance Infratel Ltd, the tower and fibre business of Anil Ambani's telecom company Reliance Communications Ltd (RCom). Reliance Infratel’s total debt exceeds ₹41,055 crore.

American Airlines said Thursday it has settled a federal race discrimination lawsuit filed by three Black men who were ordered to deboard a flight last January

An Australian computer scientist who falsely claimed to be the founder of the bitcoin cryptocurrency has been found to have committed contempt of court by breaching an order of London’s High Court

Former That ’70s Show actor Danny Masterson, through his lawyers, has appealed his 2023 rape convictions.

Supreme Court on December 20 set aside the National Consumer Disputes Redressal Commission (NCDRC)’s earlier judgment that capped the interest charged by banks on late credit card bill paymets at 30 per cent. The national consumer court had in 2010 restrained banks from charging interest rates in excess of 30% per annum from the credit card holders for their failure to make full payments on due date. The NCDRC judgment had held that if banks charge rate of interest over 30% towards credit card dues, that would amount to unfair trade practice.

UnitedHealthcare's CEO was whisked back to New York by plane and helicopter Thursday to face new federal charges of stalking and murder, which could bring the death penalty if he's convicted. Luigi Mangione was held without bail following a Manhattan federal court appearance, capping a whirlwind day that began in Pennsylvania, where he was arrested last week in the Dec. 4 attack on Brian Thompson. The 26-year-old Ivy League graduate had been expected to be arraigned Thursday on a state murder indictment in a killing that at once rattled the business community and galvanized some health insurance critics, but the federal charges preempted that appearance. The cases will now proceed on parallel tracks, prosecutors said, with the state charges expected to go to trial first.

The jury in a US federal court in Delaware is considering whether Qualcomm or Nuvia, a startup Qualcomm purchased for $1.4 billion in 2021, breached a license agreement with U.K.-based Arm, which supplies intellectual property to both firms. The case could upend Qualcomm's push into the PC market with a chip meant to rival Apple and Intel on speed.

A protracted downturn in natural gas prices has battered the balance sheets of some oil and gas producers in Western Canada, driving insolvencies in the sector to their highest level in three years.

Siddiq, whose ministerial brief includes stamping out corruption in the UK's financial sector, is alleged to have brokered a deal with Russia in 2013 that inflated the price of a new nuclear power plant in Bangladesh at a time when Siddiq's aunt, Sheikh Hasina, was prime minister of the country, according to court document seen by the Daily Mail. The probe is part of a wider investigation into Siddiq's family by Bangladesh's Anti-Corruption Commission (ACC), after her aunt was ousted as prime minister and forced to flee the country in August this year.  Tulip Siddiq: FCA 'has gone too...

Subscribe to enjoy similar stories. When businessman Mukesh Garg’s two insurance claims were rejected, he represented himself before the insurance ombudsman, a statutory body that helps in out-of-court settlement of insurance cases, but sought help from a third party for the required paperwork. This, however, was a mistake.

RG Kar hospital moved the Calcutta High Court on Thursday, seeking a fresh investigation into the crime. Expressing a lack of confidence in the ongoing probe into the incident that led to huge protests, they prayed for a direction for a fresh investigation into the rape and murder of their daughter. Justice Tirthankar Ghosh asked their lawyer to add the CBI, which is probing the case, as a party in the petition and mention the matter again before the court on Monday. The on-duty postgraduate trainee doctor's body was found in the seminar room of the RG Kar Medical College and Hospital on August 9.

Nestle India on Thursday said the suspension of the MFN (most favoured nation) clause granted to India by Switzerland will have 'no impact' on the company. The suspension of MFN status under the Double Taxation Avoidance Agreement (DTAA) is a policy issue between the government of India and Switzerland and is not 'Nestle-specific', the FMCG firm said in a statement. Nestle India, which owns popular brands such as Maggi, Nescafe and KitKat, said the company was already «deducting 10 per cent withholding tax» on cross-country payments. Earlier on December 11, the Swiss government had announced the suspension of the MFN status granted to India following a ruling by the Supreme Court of India, which in a judgement last year had said MFN status under the DTAA cannot be enforced unless notified under Section 90 of the Income Tax Act.

TDSAT) has refused to grant a stay to broadcasters challenging the Telecom Regulatory Authority of India’s (TRAI) July 8 tariff regulation concerning pay channels on DD Free Dish. The tribunal has directed broadcasters to comply with the regulation by publishing a new Reference Interconnect Offer (RIO) within two weeks. The Indian Broadcasting and Digital Foundation (IBDF) approached TDSAT after the Supreme Court directed it to challenge the recent amendments to broadcast tariff regulations. Earlier, the Kerala High Court had dismissed IBDF’s petition, stating that TDSAT was the appropriate forum for the matter. The contentious regulation requires broadcasters to either make channels free across private distribution platforms if they are free on DD Free Dish or withdraw them from DD Free Dish to retain their pay channel status.

influencer Andrew Tate and his brother Tristan over unpaid taxes. As reported by Reuters, the ruling from Westminster Magistrates’ Court follows allegations that the Tates failed to pay taxes on £21 million in revenue generated from their online businesses between 2014 and 2022. Judge Paul Goldspring found evidence of deliberate tax evasion, marking a critical escalation in the brothers' legal troubles across multiple jurisdictions.

Earlier a Supreme Court bench of the then CJI Justice Gogoi and Justice R Banumathi gave a split verdict. Justice Banumathi opined that coconut oil packed in small containers are to be classified as hair oil while Justice Gogoi believed small packages of coconut oil were food. The current three-judge panel clarified the matter. Chief Justice Sanjiv Khanna, Justice Sanjay Kumar, and Justice R Mahadevan stated that coconut oil meeting food safety standards is edible oil. If it meets cosmetic standards, it's hair oil. The branding will determine the classification.