Indu Bhan

Articles By Indu Bhan

482 Articles

Decide on GVK Airport stake buy in MIAL by December 15: SC to tribunal

“If they (GVK) have the money to buy, let them get the money to the court on Monday,” senior counsel Mukul Rohatgi argued, adding that GVK’s entire strategy is to delay the whole process.

GVK Airport, stake buy, MIAL, infrastructure news

Amtek Auto lenders move SC, seek to intervene in insolvency case

The Bench posted the bank’s plea for further hearing in January.

Amtek Auto lenders, Kotak Mahindra, Supreme Court, ING Vysya Bank, NCLAT, RBI guidelines, committee of creditors News

IBC process: SC clears implementation of Ruchi Soya resolution plan

DBS Bank, which had voted against Patanjali’s resolution plan, had appealed against NCLAT’s decision of allowing distribution of the bid amount without taking into account the value of security held by secured creditors.

Supreme Court, Baba Ramdev, Patanjali Ayurveda, Ruchi Soya, ruchi soya news, ruchi soya patanjali, ruchi soya latest news, ruchi soya share News

Nalco moves Supreme Court against Vedanta’s unit

The HC had, while allowing Vedanta, noted the lack of economic sense requiring the Anil Agarwal company to apply as a foreign firm.

Industry News

Resolution plans: SC asks Amtek CoC to invite fresh bids within a month

The apex court on September 24 had allowed resolution professional and lenders to invite fresh bids and decide on final resolution plan within two weeks thereafter.

Amtek CoC, SC, Amtek Auto, liquidation, committee of creditors, Samvardhana Motherson International, IBBI, NCLAT News

Relief to firms! SC strikes down ‘automatic stay’ for arbitral awards

Ruling to enable many companies to lay hands on locked-up funds, ward off bankruptcy threat

infrastructure firms, arbitral awards, Supreme Court, PSU, NHAI, Justice RF Nariman, IBC, Arbitration and Conciliation Act News

SC junks Anchor’s appeal, Delhi court order against Colgate-Palmolive

Senior counsel Ranjit Kumar, appearing for Anchor, said there were more than one ex-facie grounds to show and establish that the public records had been manipulated to attach a statement of Novelty to the impugned design regi

The SC bench led by Justice Ashok Bhushan also upheld the HC order. News

Delhi HC restrains Reliance Capital from selling 5% stake in RNAM till Dec 16

In the alternative, the real estate firm also asked the HC to restrain RCap from transferring, selling or creating third-party rights with regard to 5% RNAM shares or any other assets or deposit the sale proceeds to the said

High Court Judgment, Motor Accident Claims Tribunal,, Motor Vehicles Act, ownership of vehicle transferred , rto, section 50 of the M.V. Act, selling a vehicle , News

Ranbaxy brothers asked to pay Rs 2,342 cr to avoid sentencing for contempt

The Singh brothers are currently in Tihar jail in the case filed by Religare FinVest (RFL) — an arm of Religare Enterprises(REL) — for allegedly causing wrongful loss worth Rs 2,397 crore.

Ranbaxy, Ranbaxy case, Ranbaxy news, Ranbaxy share price, Ranbaxy brother, industry news, Malvinder Singh, Shivinder Singh, Indiabulls  News

SC allows ArcelorMittal to participate in mining block auction in Odisha

The Supreme Court on Thursday allowed ArcelorMittal, the successful bidder for the takeover of debt-laden Essar Steel, to participate in the auction for grant of a mining block in Odisha.

Industry News

Could amend Act to affirm stance on Arbitration and Conciliation Act: Govt to SC

SC was hearing 3 petitions which allege Section 87 of Act is in conflict with IBC 2016

Arbitration and Conciliation Act, SC, Insolvency and Bankruptcy Code, Attorney General KK Venugopal, National Company Law Tribunal News

Supreme Court directs IRP to complete Jaypee Infra resolution within 90 days

“In the interests of all the stakeholders of JIL,” a Bench comprising justices AM Khanwilkar and Dinesh Maheshwari gave 90-day extension to the insolvency resolution professional (IRP) to complete JIL’s corporate insolv

Supreme Court, Jaypee group, Supreme Court, Jaypee Infratech assets, NBCC, Suraksha Realty, NCLT News

Realty reality: SC seeks govt, RBI reply on plea to call projects ‘3rd party assets’

IBA and Jaypee group have been asked to reply on a plea that sale proceeds of the project should go to homebuyers only if the builder fails to deliver the property.

sc, supreme court News

Arbitration Act and IBC conflict: 2 companies move Supreme Court

The companies have told the SC that Section 87 of the Arbitration and Conciliation Act 1996, as inserted by the 2019 Amendment Act, is in conflict with the Insolvency and Bankruptcy Code 2016 as the new provision destroys the

sc, supreme court News

Hotel Leela case: ITC moves SC against SAT order

The SAT on September 26, while rejecting ITC plea, had also vacated its interim order barring Hotel Leela to declare ballot result for approval of the sale of its assets to Brookfield. Sebi had earlier also allowed JMF ARC to

Industry News

Sebi moves apex court against SAT order quashing ban on Price Waterhouse

Challenging the tribunal’s order, Sebi told the SC that these auditors had ignored vital materials like the internal audit report which flagged material discrepancies in reconciliation of the invoices.

Industry News

Supreme Court refuses to interfere with HC order in Rs 7,200 crore Satyam fraud case

The Supreme Court had earlier in December 2017 rejected the ED’s appeal seeking to make Tech Mahindra liable for the alleged money-laundering of over `820 crore by erstwhile Satyam Computer Services.

Satyam fraud, supreme court Satyam case, Tech Mahindra satyam, satyam scam, Satyam Computers, Ramalinga Raju, Satyam founder, Satyam ceo, SCSL News

SC agrees to hear HDFC plea seeking insolvency action against RHC Holding

Between August 2017 and September 2017, HDFC had sold over 28 lakh pledged equity shares of Religare for a net value of Rs 12.81 crore and 10 lakh pledged shares of Fortis Healthcare for a net value of Rs 14.53 crore.

Industry News

Supreme Court sets aside NCLT order on insolvency against La-Fin Financial Services

It paves way to handing over of the management of embattled investment firm back to its erstwhile management led by former MCX promoter Jignesh Shah group

A Bench led by Justice RF Nariman, while quashing the orders of both NCLT, Mumbai, and the NCLAT, rejected the IL&FS stand that its suit had been filed well in time and the winding-up plea was within the limitation period. News

Amtek: Supreme Court to hear IBBI plea for criminal proceedings against UK’s Liberty House

The UK-based firm had backed out of the deal citing some reasons, following which lenders requested 90 days more to find a new buyer.

However, senior counsel Mukul Rohtagi and counsel Mahesh Agarwal opposed the IBBI's request to initiate criminal proceedings against the firm. News

Govt, IL&FS move Supreme Court over Bombay High Court stay on proceedings against BSR

The financial affairs of the IL&FS group came under scrutiny last year after it defaulted on short-term and long-term debt obligations to the tune of Rs 91,000 crore.

Govt, IL&FS,  Supreme Court, Bombay High Court, BSR, industry news, SFIO,  Serious Fraud Investigation Office  News

Supreme Court seeks response from Jaiprakash Associates lenders on 858-acre land bank

It said that Section 43 of the code provides for the avoidance of preferences given by a corporate debtor and also invalidates any transfer of property or creation of an interest thereof by it during the look-back period to a

Supreme Court, Jaiprakash Associate, land bank, JAL, JIL, industry news, State Bank of India, Axis Bank, ICICI Bank, Standard Chartered Bank, SBI News

Why not pay HCC dues of Rs 6,070 crore? SC asks govt and NHAI

The company said it has to receive money from government bodies under arbitration awards, which are deemed to be dues under the Arbitration Act.

HCC, HCC dues, NHAI, supreme court, Hindustan Construction Company, Ajit Gulabchand News

Sales dispute: SC tells Amazon, DSCs to urge Delhi HC to decide case by October end

The Supreme Court on Wednesday asked Amazon Seller Services and direct selling companies (DSCs) such as Amway, Oriflame and Modicare to approach the Delhi High Court for early disposal of their cases related to sale of produc

Amazon was represented by senior counsel Mukul Rohatgi and counsel Ruby Singh Ahuja News

Amazon moves SC against Delhi HC order on DSCs

The Supreme Court will hear on Wednesday a batch of appeals by Amazon Seller Services against the Delhi High Court’s July order that asked the e-commerce company to stop selling products of direct selling companies like Amw

The injunction had come on petitions filed by direct selling companies alleging that Amazon was selling its products illegally News

Supreme Court stays Amtek Auto liquidation

The NCLAT on August 16 had directed the Chandigarh Bench of the National Company Law Tribunal to pass an order of liquidation as 270 days mandated under the IBC for finalising a resolution plan had already lapsed

Supreme Court, National Company Law Appellate Tribunal, NCLAT Amtek Auto, Amtek Auto liquidation of debt Amtek Auto, Liberty House Group PTE, Deccan Value Investor LP, RBI insolvency, Amtek Auto insolvency News

IL&FS Security fraud: SC asks NCL to release cash collateral of Rs 460 crore

Earlier, the SC had asked Sebi as to why it should not be directed to probe IL&FS fraud and protect investors.

Industry News
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