Courts Financial News
04.12 / 09:49
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Justice
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Courts
UP Gangsters Act appears to be draconian, observes SC
Anti-Social Activities (Prevention) Act appeared to be «draconian». The observation by a bench of Justices B R Gavai and K V Viswanathan came while it was hearing a plea filed by a man who has challenged a May 2023 Allahabad High Court order dismissing his application seeking to set aside proceedings against him pending before a district court in Kasganj in a case registered under the Act. «This Act appears to be draconian,» the apex court observed. «We will consider it,» the bench said while admitting the appeal.
04.12 / 09:01
markets
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Supari gone wrong as hitman kills realtor who wanted business partner dead
Manjesh Kumar, a 42-year-old property dealer, had hired a hitman to eliminate his business partner, but the hitman double-crossed him, ultimately killing Manjesh instead. The drama began when Arjun Kumar, a former Army man and the hitman hired by Manjesh, decided to betray him. Arjun informed Sanjay Singh, Manjesh’s business partner, about the plan. Seizing the opportunity, Sanjay, 42, offered Arjun a hefty Rs 10 crore to turn the tables and eliminate Manjesh instead. Police investigations revealed that Manjesh was found dead in a rented house in Patel Nagar, Dehradun, which belonged to one of the accused’s accomplices. The cause of death was strangulation, with shoe laces being used as the murder weapon.
04.12 / 07:27
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Courts
Delhi excise policy case: Delhi HC asks Arvind Kejriwal, K Kavitha to respond to ED's plea
Arvind Kejriwal, and BRS leader K Kavitha on the ED's plea challenging a trial court's order directing it to supply «unrelied documents» to those accused in the alleged money laundering case related to the excise policy. Justice Manoj Kumar Ohri issued notices to all the 40 accused on the Enforcement Directorate's (ED) petition as well as its application for stay in the case. The high court listed the matter for further hearing on January 30 next year. Besides former Delhi chief minister Kejriwal, AAP leaders Manish Sisodia and Sanjay Singh and several businessmen are among the accused in the case.
04.12 / 07:27
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'India's harmony is not so fragile': Delhi HC temporarily halts arrest of activist Nadeem Khan
Delhi High Court, while preventing the police from arresting activist Nadeem Khan, who was accused of "promoting enmity" through a viral video, stated on Tuesday that the country's unity is «not so fragile» and emphasized the need for greater trust in the intelligence of the common people. «We are in a democratic country… The common man isn't so fragile that merely one exhibition will shake his conviction,» Justice Jasmeet Singh said. «The country places great pride in our fundamental rights. Article 19(1)(a) is to be protected.»
04.12 / 07:07
UPS
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Investigations
Drunk driver who killed bride on her wedding night handed 25 years in prison
Jamie Lee Komoroski, the South Carolina woman who admitted to drinking and driving more than twice the speed limit when she crashed into a golf cart and killed a bride last year, will now spend up to 25 years in prison.
04.12 / 06:45
markets
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Founder of failed crypto lending platform Celsius Network pleads guilty to fraud charges
The founder and former CEO of the failed cryptocurrency lending platform Celsius Network has pleaded guilty to federal fraud charges, admitting that he misled customers about the business
04.12 / 06:45
04.12 / 06:45
Man
Citizens
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Matthews
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Courts
Former Abercrombie CEO's partner pleads not guilty to sex trafficking charges, is freed on bond
The partner of former Abercrombie & Fitch CEO Mike Jeffries who was indicted on sex trafficking charges along with Jeffries and another man has been released on $10 million bond
04.12 / 06:33
markets
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Justice
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Hero Electric moves Delhi High Court over FAME-II subsidy fraud probe
Hero Electric on Wednesday moved the Delhi High Court challenging the Ministry of Corporate Affairs' order for a Serious Fraud Investigation Office (SFIO) probe into allegations of fraudulent availing of subsidies under the FAME-II scheme. The Ministry of Heavy Industries previously directed Hero Electric to refund Rs 130 crore in subsidies, claiming the company violated the conditions of the scheme. During the hearing on Wednesday, Justice CD Singh instructed Hero Electric to engage with ministry officials to resolve the issue amicably. In the interim, the court directed the government not to proceed with any action against the company until it submits a report on the resolution efforts.
04.12 / 04:59
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Delhi's air quality recorded 'poor' for 3rd consecutive day, visibility improves
As per by the Central Pollution Control Board, the AQI was measured as '211' at 8 am. Drone visuals showed a thin layer of smog engulfing the areas of Bikaji Cama, Moti Bagh and AIIMS.
04.12 / 04:25
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Reuters
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International
Pernod Ricard internal probe reveals top bosses in India violated law in deals with Delhi retailers
Pernod Ricard concluded that top executives at its India business violated the law by colluding with alcohol retailers in New Delhi, according to a document seen by Reuters, even as the French giant's representatives denied wrongdoing in court and publicly. PRI told Reuters in January and February 2023 that it «strongly» denies the Enforcement Directorate allegations, calling them «factually incorrect.» As recently as Sept. 4, lawyers for Benoy Babu, a PRI executive named in Shardul Amarchand Mangaldas's report, asked the Delhi High Court to quash the case against him. They said allegations against Babu, who was briefly jailed pending trial last year, were «false and baseless», and authorities were relying on «hearsay evidence». The court has yet to rule on Babu's non-public filing, which was seen by Reuters. He didn't respond to questions from the news agency.
04.12 / 04:25
04.12 / 04:09
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What’s next in the legal battle over Elon Musk’s $100 billion pay deal
Subscribe to enjoy similar stories. Elon Musk’s record-breaking Tesla compensation package has hit another roadblock, after a Delaware judge on Monday again rejected the pay deal, now worth nearly $100 billion. The ruling presents a dilemma for Tesla’s board of directors, who had warned that Musk’s pay package as CEO is vital to keep the serial entrepreneur’s attention on the carmaker at a time when electric-vehicle sales are under pressure.
04.12 / 03:47
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Byju’s content manager, business partner face US court sanctions
A federal judge is considering imposing millions of dollars in sanctions on Byju’s manager Vinay Ravindra and company ally Rajendran Vellapalath, who founded Dubai-based tech startup Voizzit Technology. At a court hearing Tuesday, US Bankruptcy Judge John T. Dorsey said he will issue an “order to show cause” that would force the two tech executives to justify their actions, or be declared in contempt of court and be required to pay financial penalties.
04.12 / 01:49
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Mint Quick Edit: Should IndiGo and Mahindra be in a standoff over ‘6e’?
Subscribe to enjoy similar stories. When Mahindra showcased two of its upcoming electric sport utility vehicles (SUVs) last week, it wouldn’t have expected a challenge from a high-altitude carrier of passengers.
04.12 / 01:27
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Amid lack of regulation, online gaming in limbo, failing to attract investment
Subscribe to enjoy similar stories. New Delhi: The Centre’s failure in appointing proposed self-regulatory bodies (SRBs) for the online gaming sector has left the industry in limbo, with small firms struggling to get investors and large ones innovating without any legal guardrails to try and rope in more paying consumers.
03.12 / 17:45
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What to know about Wisconsin's collective bargaining law for public workers
A judge’s overturning of Wisconsin’s 13-year-old law that effectively ended collective bargaining for teachers and most state government employees has rekindled a battle over labor rights in a state where the first public sector unions were formed 65 y...
03.12 / 17:35
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rights
Budaun mosque dispute: Court asks Muslim side to complete arguments on December 10
Jama Masjid Shamsi here claiming it was a temple, on Tuesday asked the Muslim side to complete their arguments by December 10. Arguing his case, the lawyer for Shamsi Shahi Jama Masjid Intezamia Committee and Waqf Board Asrar Ahmed questioned the locus standi of the Akhil Bharat Hindu Mahasabha to file the petition in the matter. Urging the court to dismiss the plea, the counsel submitted that the mosque is about 850 years old. He stated that there is «no existence of a temple» there and worship by Hindus had never been conducted in the mosque in the past. He argued that the Hindu outfit does not have the legal right to become a plaintiff in the matter. Ahmed also said that filing such a petition in the court violates the Places of Worship Act, 1991.
03.12 / 16:19
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Why the world's richest man is fighting for his salary
Tesla CEO Elon Musk wrote on X after a judge ruled on Monday that Musk is not entitled to receive a $56 billion compensation package. The ruling came despite shareholders of the electric vehicle company voting in June to reinstate Musk's pay package which was thrown out by the same judge in January. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package. The compensation package initially carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price. How was Musk's compensation structured?
03.12 / 14:03
markets
Aviat
Airlines
Strategy
PAM
Courts
IndiGo drags Mahindra Electric to court for trademark infringement of its 6E code
InterGlobe Aviation, which runs the largest airline IndiGo, on Tuesday moved the Delhi High Court alleging trademark infringement of its Air Transport Association code ‘6E’ by Mahindra Electric Automobiles. The airline accused the automaker of using the mark ‘6E’ in its upcoming electric sports utility vehicle (SUV) Mahindra BE 6e, which it claimed to be similar to its trademark ‘6E.’ Mahindra BE 6E, which has generated buzz for its unique design and tech loaded features, is expected to hit the roads in February next year. While Justice Amit Bansal recused himself from the hearing the case, senior counsel Sandeep Sethi informed the court that Mahindra had reached out to the airline on Monday and an effort was being made to discuss the matter.
03.12 / 12:43
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No lawyer to represent Hindu monk in Bangladesh court, bail hearing deferred now to Jan 2
bail petition of Hindu monk Chinmoy Krishna Das, arrested on a sedition charge, as no lawyer appeared on his behalf. Swatantra Gauranga Das, an associate of the monk at his Sammilita Sanatani Jagaran Jote, claimed that no lawyer represented the Hindu leader due to threats from a «politically motivated lawyers' group». The bail hearing at the Chattogram court has now been postponed to January 2. Das' arrest on November 25 had triggered demonstrations by supporters of the monk, who was previously with the International Society for Krishna Consciousness (ISKCON). In Chattogram, an assistant government prosecutor, Saiful Islam Alif, was killed in a protest after the monk was denied bail.
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