Indu Bhan

MCA, IL&FS move SC to seek vacation

Top court had stayed NCLAT decision to reopen books of accounts and recasting of financial statements of IL&FS and two group entities for the past five years.

Industry News

Supreme Court says unilateral altercation of contract by govt can’t be foisted upon unwilling party

NHAI had in December 2005 awarded Rs 219-crore contract for construction on four-lane pass to Korean infrastructure firm Ssangyong Engineering and Construction.

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SC notice to govt on Essar power plea

A Bench led by Chief Justice Ranjan Gogoi issued notice to the ministries of power and coal on Essar Power’s appeal against the Delhi High Court’s April 15 order that denied relief to the company “by invoking the doctri

Industry News

SC bars banks from declaring Delhi Airport Metro Express debts as NPAs

DMRC has been running the Airport Express line since 2013 after DAMEPL pulled out from running the Airport Express Metro line over safety issues.

Supreme Court, sc , congress petition, amit shah, pm modi News

Supreme Court warns UP cane commissioner over non-payment of dues to Bajaj Hindusthan

A Bench led by Justice RF Nariman sought explanation from Bhoosreddy, who is the principal secretary (sugar) as well as the cane commissioner of UP on a contempt petition filed by Bajaj Hindusthan.

Supreme Court warns UP cane commissioner over non-payment of dues to Bajaj Hindusthan News

Supreme Court stays HC order allowing handing over of La-Fin mgmt to Jignesh Shah

Financial creditor IL&FS Financial Services had moved the apex court against the HC orders of March 4 and April 9 that stalled the insolvency proceedings initiated against La-Fin by NCLT, Mumbai

SC stays HC order allowing handing over of La-Fin mgmt to Jignesh Shah News

Supreme Court clears Rs 4k-crore resolution plan for Jyoti structures

The Rs 4,000-crore resolution plan by Sharad Sanghi and others for Jyoti Structures on Monday got a thumbs-up from the Supreme Court. The development nullified the possibility of the debt-laded EPC firm getting liquidated.

Supreme Court clears Rs 4k-crore resolution plan for Jyoti structures News

Supreme Court threatens Singh brothers with jail term — what angered SC

A bench headed by Chief Justice Ranjan Gogoi said it will now hear on April 11 the contempt petition by Daiichi against the brothers for non-payment of the arbitral award.

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RBI wants to disclose bank’s annual inspection reports on case to case basis

Last year in November, the CIC too had issued a show-cause notice to Urjit Patel, then governor of the RBI, for not honouring a judgment of the apex court on disclosure of wilful defaulters’ list who had not paid loans of `

Banking & Finance News

Bad loans: Supreme Court ruling a big blow to banks, defaulters rejoice

“Voiding of the circular is credit negative for Indian banks. (The circular) may now have to be watered down...The resolution of stressed loans impacted by the circular will be further delayed as the process may have to be

Economy News

NCLAT refuses to direct SBI to release RCom funds to Ericsson

A bench comprising NCLAT chairperson SJ Mukhopadhaya and justice Bansi Lal Bhat said that no direction can be given to lenders to perform certain duties to ensure settlement between Reliance firm and Ericsson.

reliance communication, ericsson, nclat, supreme court News

Ranbaxy-Daiichi case: SC invokes ‘country’s honour’, asks Malvinder, Shivinder how will they pay Rs 3,500 crore to Daiichi

The apex court asked the brothers to appear before it on March 28 and submit the plan

Industry News

RBI tells SC no corporate debt resolution plan yet despite 180-day extension for defaulters

Though banks invoked strategic debt restructuring in more than 140 cases, they were unable to change ownership even in a handful of cases, the RBI noted

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SBI snubs RCom; lenders refuse to release Rs 266 crore income tax refunds to pay Ericsson

The NCLAT observed that the insolvency plea against RCom cannot commence until the settlement with Ericsson attains finality.

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HSBC Daisy moves Supreme Court in Anil Ambani, Reliance Infratel’s Rs 230 crore default case

HSBC wants to restrain the Reliance group from withdrawing the appeals filed against the National Company Law Tribunal that commenced the corporate insolvency resolution process.

hsbc, sc, supreme court, nclat News

Rafale case: Can’t stolen documents be relied on if relevant, asks SC

An investigation into the theft (of the documents) is on, the AG said on a day The Hindu, which carried a series of articles critical of the government on the deal by citing official documents, published another one.

India News

Ericsson case: Clear dues of Rs 453 crore or face 3-month jail, SC tells Anil Ambani

In a major blow to Reliance Communications chairman Anil Ambani, the Supreme Court on Wednesday held him and two other directors guilty in a contempt of court petition filed by telecom equipment maker Ericsson India over not

Ericsson case: Clear dues of Rs 453 crore or face 3-month jail, SC tells Anil Ambani News

SC notice to CCI on Monsanto’s challenge against probe of its top officials

The Supreme Court on Monday sought response from the government, the Competition Commission of India (CCI) and others on an appeal by Mahyco Monsanto Biotech (India) against a Delhi High Court judgmen

Supreme Court, sc, competition commission of india News

Siam moves Supreme Court against govt notification on vehicle registration plates

The Society of Indian Automobile Manufacturers (Siam) has moved the Supreme Court challenging the government's notifications mandating all motor vehicles to come fitted with tamper-proof, high-security registration plates (HS

sc, supreme court, siam News

Essar Steel case: SC rejects operational creditors’ plea, promoters move NCLAT

As is known, the two-member Ahmedabad bench of the NCLT on January 29 ruled that the plea by Essar Steel Asia Holdings’ to consider the Ruias’ settlement plan for Essar Steel was not maintainable. The NCLT had said the Es

Industry News

Fortis to SC: Order stopping transfer of Rs 4k cr didn’t cover any transaction with RHT

It said that violation of the Supreme Court’s December 14 order did not arise as the status quo was ordered only with regard to the “transaction between FHL and IHH.”

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Bankruptcy code: NCLT can’t evaluate CoC decision on resolution plan, says SC

The NCLAT held that in both the cases the resolution plan did not garner support of not less than 75% of voting share of the financial creditors constituting the CoC, a pre-requite according to the Insolvency and Bankruptcy C

Bankruptcy code, NCLT, committee of creditors, Innoventive Industries, supreme court News

Essar Steel operational creditor moves SC against NCLAT order

The matter is likely to be mentioned for urgent hearing before a bench led by Chief Justice Ranjan Gogoi on Thursday.

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End game: Ericsson seeks auction of Anil Ambani’s assets for disobedience of Supreme Court orders

Ericsson in its fresh plea said that Ambani, Seth and Virani have willfully and deliberately breached the undertakings of August 9 given to the SC and they should be restrained from leaving the country. It said that these thr

Industry News

Suspended board of firm under insolvency process must be given documents: SC

Even operational creditors, who may participate in such meetings but have no right to vote, are vitally interested in such RPs and must be furnished copies.

Economy News

SC seeks Fortis Health response on Daiichi plea for stopping transfer of Rs 4,000 crore

It said that the apex court had passed the order without it being a party to the contempt petition.

Industry News

SC seeks govt response on plea against financial creditor status to homebuyers

This right given to allottees is in addition to claims before consumer fora and Rera, which according to real estate developer Pioneer Urban Land and Infrastructure, has the effect of driving a financially solvent and healthy

Economy News
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