Indu Bhan

Articles By Indu Bhan

467 Articles

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

Jaypee Infratech homebuyers to move Supreme Court against NCLAT order

It suggested that the apex court should “do complete justice” by inviting the bids in the court itself so as to get rid of the complex and cumbersome process of rounds and rounds of litigations and proceedings before CoC,

Industry News

Supreme Court refers Oxytocin issue to a larger bench

The seven issues framed by the Bench also include whether the health ministry’s last year’s notification had resulted in creating a monopoly in favour of public sector companies to the complete exclusion of private sector

Supreme Court, Oxytocin issue, Oxytocin, industry news, Oxytocin uses, Oxytocin hormone, Oxytocin action News

Supreme court quashes Rs 50,000 cost imposed on Sebi by tribunal

Sebi observed that around 39.3 lakh SMSs were sent recommending buy for STML across different dates during the examination period.

“The interim order was passed within three months of the last hearing,” it added. News

Good news for home buyers: Supreme Court thumbs-up to financial creditor status

Homebuyers have the option to avail legal remedies before a consumer court, real estate regulatory authorities (RERA), as well as bankruptcy courts, it said.

homebuyers, supreme court, financial creditors, Bankruptcy Code, insolvency and Bankruptcy Code, economy news

How Swiss school EHL trains its students to face changes in hotel industry

With its main campus in Lausanne, Switzerland, EHL provides a range of on-campus and online learning solutions, including undergraduate, graduate, certificate programmes to students from over 120 countries.

hotel, hotel industry, hotel industry india, Ecole hôtelière de Lausanne, Indian School of Hospitality, hospitality sector, hospitality industry, Bachelor of Science in International Hospitality Management degree, Swiss School of Tourism and Hospitality News

Jaypee infra parent moves SC against NCLAT fresh bid order

The NCLAT's July 30 order allowed fresh bidding for the debt-laden firm and also barred promoters from participating in the fresh auction. The apex court will hear JAL’s plea today.

Industry News

Vijay Mallya-linked firm moves SC against debt recovery

Liquor baron Vijay Mallya-linked United Breweries Holdings (UBHL) on Monday moved the Supreme Court against a Karnataka high court’s order.

Industry News

JP Morgan helped Amrapali in funds diversion: Supreme Court

“The shares were overvalued for making payment to JPMorgan… It was adopted as a device for siphoning off the money of the homebuyers to foreign countries,” the apex court said, adding that JP Morgan was aware about dive

JP Morgan, Amrapali, Supreme Court, housing projects in Noida, Greater Noida, Amrapali Homes Project News

Distribution of proceeds: CoC’s can’t be reversed, says SC

The appellate tribunal had held that the profits should be distributed amongst all the financial and operational creditors on a pro-rata basis of their claims.

Industry News

L&T Finance challenges NCLAT’s classification of IL&FS debt

Besides, such classification will adversely affect its rights as no notice was issued to it on the Framework Resolution Plan submitted by IL&FS and this is also against the principles of natural justice, it added.

Industry News

Row over TDSAT order: DoT moves SC over issue of bank pledge to Vodafone Idea

TDSAT asked DoT to release bank guarantees worth `2,113.5 crore to Vodafone Idea. The bank guarantees were taken by the government on account of OTSC as a precondition for approving the Vodafone India-Idea Cellular merger

RCom, RCom spectrum case, DoT plea, TDSAT order, spectrum usage charges, News

Budget 2019: New education policy on anvil, Rs 400 crore allocated for developing world-class institutes

Budget 2019 India: While proposing the ‘Study in India’ programme to make India an attractive education destination for foreign students, she said India has the potential to become an educational hub.

Union Budget 2019 India, Budget 2019-20 News

Bhushan Power: Supreme Court paves the way for takeover by JSW Steel

The vacation bench of the high court had issued these directions after the principal bench of NCLT at New Delhi had reserved its judgment on a resolution plan for BPSL.

Supreme Court, JSW takeover, Delhi bench, National Company Law Tribunal, Bhushan Power and Steel News

RCom Spectrum case: Supreme court dismisses DoT plea against TDSAT order

A bench led by Justice RF Nariman upheld TDSAT’s February 26 judgment that held that RJio cannot be held liable for dues prior to the sale of spectrum.

RCom, RCom spectrum case, DoT plea, TDSAT order, spectrum usage charges, industry news

Adani Power gets SC relief for GMDC’s lapse too

The court asked the central power regulator to issue the relevant tariff order within three months after the power major approached it with a plea.

Adani Power, Supreme Court, Gujarat Urja Vikas Nigam, Mundra plant, Gujarat Mineral Development Corporation News