Merit Financial News

Nationalist Congress Party leader Nawab Malik is getting «specialized medical assistance» and his right to health or right to life is not infringed in any manner, said the Bombay High Court while refusing him medical bail in a money laundering case being probed by the Enforcement Directorate (ED). The HC further said Malik's medical report does not indicate he is suffering from any critical ailment. On the contrary, the report says the former state minister does not need further hospitalization, the HC observed.

Supreme Court Collegium for a choice posting days earlier. Union Law Minister Arjun Ram Meghwal on Twitter announced that Justice Dinesh Kumar Singh of the Allahabad High Court stands transferred to the Kerala High Court. Justice Manoj Bajaj of the Punjab and Haryana High Court has been posted to the Allahabad HC, while Gaurang Kanth of Delhi High Court stands transferred to the Calcutta High Court by the collegium headed by Chief Justice of India D Y Chandrachud.

Supreme Court on Friday adjourned for July 17 the hearing of a plea by jailed former Maharashtra minister and NCP leader Nawab Malik against the Bombay High Court's decision of adjourning the proceedings on his bail application in a money laundering case. A bench of Justices Sanjiv Khanna, Bela M Trivedi and Ujjal Bhuyan posted the matter for further hearing after it was informed that senior advocate Kapil Sibal, who is representing Malik in the case, was not available. During the brief hearing, the bench initially said Malik is required to file a fresh petition as the Bombay High Court has already decided his plea for interim bail on Thursday.

Mint explores real-world examples, both triumphs and pitfalls, that shed light on the challenges faced by retail investors. Reliance not at fault What unfolded at Reliance Retail is not sudden. The first signs of this saga emerged in 2019 when RIL introduced a compulsory share swap deal for Reliance Retail.

Entrance Test (CUET-UG) results will be announced by July 17, said UGC Chairman Jagadesh Kumar on Wednesday. The CUET-UG is the second-largest entrance exam in the country in terms of the number of applicants.

Elon Musk acquired Twitter Inc in 2022, the microblogging site on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were sacked in the layoff drive, according to a report published by Reuters.  Courtney McMillian oversaw Twitter's employee benefits programs as its "head of total rewards" before she was laid off in January. She filed the proposed class action in San Francisco federal court.

Nawab Malik in connection with a money laundering case being probed by the Enforcement Directorate (ED). Malik was arrested in February 2022 by the ED in the case allegedly linked to activities of fugitive gangster Dawood Ibrahim and his associates. The Nationalist Congress Party (NCP) is in judicial custody and currently undergoing treatment in a private hospital here.

New Delhi: The National Financial Reporting Authority (NFRA) will soon offer clarity on its authority to review the statutory audits of companies conducted before its establishment on 1 October 2018. The clarification will address concerns of stakeholders following a Supreme Court ruling on Monday dismissing a petition which raised questions on the watchdog’s retrospective jurisdiction, a person aware of the development said. The watchdog will dispel doubts about its jurisdiction for past periods, and clarify the extent of regulatory oversight of statutory auditors in the country.

premier B-schools, the Indian Institutes of Management (IIMs), MBA classes are getting more diverse than ever. Where once the student ratio was heavily skewed in favour of engineers, the Class of 2025 has a significant percentage from other backgrounds including arts/humanities, commerce, science, law, among others. At IIMs Ahmedabad, Kozhikode, Indore and Kashipur, there are at least 4 non-engineering students in every 10 students; while IIM Calcutta and IIM Bangalore have 30% and 17% students from non-engineering backgrounds respectively, officials told ET.

National Company Law Tribunal (NCLT) on Tuesday dismissed a plea to initiate insolvency proceedings against Religare Enterprises Ltd observing that it was a financial service provider and does not come under the ambit of the Insolvency & Bankruptcy Code (IBC). A principal bench headed by NCLT President Justice Ramalingam Sudhakar and Atul Chaturvedi held that the petition filed by Ligare Aviation Ltd against Religare Enterprises was «not maintainable» and does not fall under the definition of «Corporate Debtor», which means a corporate person who owes a debt to any person.

A federal appeals court has again blocked construction on a segment of a contentious natural gas pipeline being built through Virginia and West Virginia

ANI reported. The monsoon session of the Bihar assembly kicked off on a fiery note on Monday with Opposition parties led by BJP launching a scathing attack on the Nitish Kumar government as CBI filed a chargesheet against his Deputy Tejashwi Yadav over the alleged land-for-jobs scam case. “There is a tradition of the House that any minister if chargesheeted, has resigned or has been asked by the chief minister to resign.

looking at its fundamentals or the business model? A lot of investors would consider this as ridiculous. Some may even call it blasphemy. After all, you need to have a thorough understanding of the business model and the financials before making a sound judgement on a stock.

The Delhi High Court on Monday set aside an order issued by the Indian Embassy to Sweden and Latvia revoking the Overseas Indian Citizen status of Ashok Swain. Noting that the February 8, 2022, order stated nothing other than that it was being issued exercising the powers of Section 7(D)(e) of the Citizenship Act, a single-judge bench of Justice Subramonium Prasad set it aside and directed the MHA, MEA and the Embassy to pass a detailed order explaining the reasons for exercising its power under the said section.

GST) rates will require careful consideration and may need to be implemented gradually. The chairman of the Central Board of Indirect Taxes and Customs (CBIC), in an interview with Moneycontrol, emphasised the importance of revenue efficiency and suggested that rate rationalisation should be approached cautiously to ensure the stability of consolidated revenues. As revenue efficiency improves, as per Johri, there will be a greater scope for accepting rate rationalisation.

R K Pachauri, former director of The Energy and Resources Institute, «physically as well as emotionally blackmailed» his assistant, then a 29-year-old woman, according to an Industrial Tribunal that has upheld a TERI internal panel's indictment of Pachauri in 2015. «Pachauri was at a very good position and should have been extra vigilant in his conduct. He should have been setting example in the institution, but to the contrary, he had rather violated the dignity of the woman by committing sexual harassment, which cannot be ignored by the court and cannot be endorsed,» the tribunal said in its order earlier this week.

Dogecoin, the popular cryptocurrency that gained attention due to its meme-inspired origins, is facing a legal challenge. 

New Delhi: Union minister Jitendra Singh on Saturday said India’s bioeconomy jumped from $8 billion in 2014 to $100 billion and the country now targets $150 billion by 2025, Addressing a discussion meeting in New Delhi focused on fostering the Biomanufacturing Initiative of the Department of Biotechnology (DBT), the minister said “India’s bioeconomy was just about $8 billion in 2014 and now under Prime Minister Narendra Modi we have at least awakened to the merits of biotechnology and bioeconomy. It has grown up to $100 billion, now we are targeting $150 billion by 2025.

Munde on Friday said she was planning to take a break for «one or two months» as she was anguished at her integrity being questioned time and again. She said her party would have to answer if she had merit and asserted that only time will tell if she was treated unfairly. Munde also panned the media for taking some of her statements out of context or misquoting her, adding that she planned to sue one channel which reported on her meeting Congress leaders Sonia Gandhi and Rahul Gandhi.

Go Airlines, giving a ray of hope to the Wadia-owned carrier which has admitted itself in India’s bankruptcy court. The airline, branded Go First, stopped flying and appealed for insolvency proceedings in the National Company Law Tribunal (NCLT) on May 2 due to cash problems and after it had to ground more than half of its 54 planes because of supply issues from the American engine maker.

«Now, whether there is a right time to cut the prices or not when the crude prices were going up, when the prices were not increased, there were definitely a strain on the oil marketing companies. And I think that it is logical for them to recover if they had some sort of under-requirements which they had obviously,» says MK Surana, Former CMD, HPCL.With crude now largely settling around the $75 to a barrel mark, is it really time for OMCs to cut prices? And is there merit in believing that they are now in a sweet spot?First, it is a good thing for the country and for the OMCs that the oil prices are benign, in spite of some sort of production cuts announced even just yesterday by Saudi and some sort of export restriction by Russia.