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Indu Bhan

Articles By Indu Bhan

523 Articles

Tata Sons counters Cyrus Mistry claims in SC, says most firms suffered under him

Under Mistry’s chairmanship, Tata Sons did not foray into any new significant business opportunities and Tata Sons’ financial performance also saw a steep decline.

Tata Sons rubbished the claims of the firms that there was a marked increase in the market capitalisation of the Tata operating companies.

Jaypee homebuyers urge Supreme Court to direct implementation of NBCC resolution plan

Besides, the NCLAT order defeats the entire purpose of the Code, which provides for a time-bound CIRP, they said, adding that the IMC has given a cover to NBCC to implement the RP for an indefinite amount of time.

The NCLAT had asked NBCC to implement its plan, but said that the direction will be subject to its final order.

Cash-strapped Vodafone Idea to get Rs 833 crore in tax refund, Supreme Court slams taxmen for delay

Pursuant to the SC’s directions, the assessing officer (AO) on May 28 computed the refund payable to Vodafone at Rs 1009.43 crore for the assessment year 2014-15, but reduced it to Rs 833.04 crore on account of pending dema

Supreme Court, income tax department, Bombay High Court, Vodafone Idea, vodafone idea tax refund, latest news on vodafone idea

Fortis seeks vacation of SC order blocking stake sale to Malaysia’s IHH Healthcare

The Supreme Court had last year held the Singh brothers guilty of contempt for violating its earlier orders that had restrained them from divesting their shares in FHL.

Supreme Court notice to GVK, MIAL on ACSA’s plea for appointment of arbitrator

It also wants the apex court to set aside the appointment of the arbitrator by MIAL, which is led by majority partner GVK, and also quash the setting up of an arbitral tribunal.

Stating that the SC has the exclusive jurisdiction to appoint the nominee arbitrator on behalf of GVK and MIAL, the South African investor submitted that the dispute being raised by GVK can only be adjudicated by an arbitral tribunal setup under SIAC rules seated in Singapore.

BS4 vehicle sales: SC recalls order after dealers sold more than permitted limit

A lot of dealers and customers may get affected by the Supreme Court's order recall. The reason being, due to Covid-19 and the nationwide lockdown, the regional transport offices did not work on a regular basis and a lot of r

I-T dept moves Supreme Court in Bharti Airtel GST refund case

“As a consequence, the deficiency in reporting the eligible ITC in the months of July-September 2017 in the form GSTR-3B has resulted in excess payment of cash by Bharti,” the high court stated.

Bharti had moved the HC seeking refund of excess tax of Rs 923 crore.

Purchase tax is to be levied on glass bottles, says Supreme Court

A Bench led by justices AM Khanwilkar and Dinesh Maheshwari, in a batch of cross-appeals led by Commercial Tax Officer vs Mohan Brewaries and Distilleries, upheld the Madras High Court order on the case.

Purchase tax, tax on glass bottles, supreme court, sale of beer, manufacture of beer, IMFL, Tamil Nadu General Sales Tax Act

Supreme Court refuses to allow Franklin to hold e-voting, unit holders’ meet

Even the Sebi’s plea on interpretation of winding up rules, pending before the Gujarat HC, will now be heard by the Karnataka HC.

Frankin had filed a plea seeking transfer of all the petitions to one of the high courts hearing the case so as to avoid multiplicity of proceedings and divergent verdicts.

Ravva oil & gas fields: SC seeks response from Vedanta; asks parties to maintain status quo

While asking the ministry and Vedanta to “maintain status quo existing as on today,” it posted the matter for further hearing on July 22.

A bench led by Justice SA Nazeer sought response from Vedanta on an appeal by the ministry of petroleum & natural gas against a foreign arbitration award that allowed Vedanta and Videocon Industries to recover $499 million for the development of the oil and gas fields.

In relief to BSR and Deloitte, Supreme Court refuses to stay Bombay HC judgment

While seeking response from the two auditing firms, the top court clarified, “this order shall not affect any orders granting or refusing bail to any of the accused”.

A bench led by Chief Justice SA Bobde continued the HC’s interim order that had stayed the criminal prosecution proceedings initiated against the firms and other accused for eight weeks.

Interest waiver: SBI, IBA tell SC move may hit credit flows

Court relents, says its concern is only over ‘interest on interest’

It further said that any such waiver can be granted by the government out of the exchequer and the same cannot be given by the banks where credit is created out of depositors’ funds.

Full wages during Covid-19 lockdown: Firms which didn’t pay get SC relief

The MHA notification which ordered mandatory payment of full wages to workers during the lockdown stood withdrawn from May 18.

The court left it open to employers to negotiate the payment of full wages for 54 days - from March 25 to May 17 - during which the notification was in place.

AGR Dues: Non-telecom PSUs sail through but telcos’ fate remains unclear

SC pulls up DoT for raising Rs 4-lakh-crore demand on PSUs; wants telcos to furnish guarantees to avail deferred payment

The bench also warned of action against the DoT official responsible for issuing demand notices to the PSUs.

Loan moratorium: Forcing banks’ hands to be ruinous, Sebi tells SC

Terming the Credai’s petition as “frivolous, misconceived, non-maintainable” and liable to be dismissed, Sebi said the petition “appears to be proxy litigation”.

Loan Moratorium, sebi, supreme court, NBFC, HFCs, loan transactions, non convertible debentures, MF industry

Amrapali case: Supreme Court asks banks to recast loans, release funds

Keeping in view the interest of home buyers, a Bench led by Justice Arun Mishra asked the banks to release the sanctioned loans under “the current norms of the RBI for releasing loans and the rates fixed by the RBI therefor

Amrapali case, supreme court, NBCC, Greater Noida Authorities, noida, latest news on amrapli case

Oil & gas field development: Govt moves SC against allowing of higher recovery to Vedanta

The dispute arises out of the production sharing contract between Cairn India and the government over exploration of the Ravva oil fields in the shallow offshore area of the Krishna-Godavari basin on the eastern coast of Indi

Investors move SC, seek probe into siphoning of funds by Franklin Templeton

They also want a stay on the e- voting process initiated by the fund manager from June 9, besides court-monitored investigation into the siphoning of the funds and also direction to Sebi to appoint an administrator to take ov

Franklin Templeton MF, Vodafone Idea

No forced interest waiver on loan moratorium: RBI to SC

The fact that the waiver of interest is having far-reaching effect on the economy cannot be ignored and the larger public interest of the economy always takes precedence over the individual cases of hardship, it said.

Tata vs Mistry: SC to hear Cyrus Mistry’s plea for Tata Sons board seat

Mistry wants the SP group firms - Cyrus Investment Pvt Ltd and Sterling Investment Corporation - should be given proportionate representation on the Tata Sons board and all its committees, which allegedly was denied to his fa

Daiichi Sankyo case: Singapore’s SC dismisses Singh brothers’ plea

In a big setback to former Ranbaxy promoters Malvinder Singh and Shivinder Singh, the Supreme Court of Singapore has dismissed their appeal seeking quashing of the Singapore High Court’s order that upheld the Rs 2,500-crore

WhatsApp’s payments system: Supreme Court seeks replies from finance ministry, NPCI, RBI

The Facebook-owned messaging application is reportedly launching its payments option in partnership with three private banks in India soon.

Seeking a ban on WhatsApp Pay, senior counsel Krishnan Venugopal, appearing for GGC, argued that the instant messaging app should be punished for “breaches and non-compliance”.

Co-operative banks can invoke SARFAESI Act, seize and sell defaulters’ assets to recover dues, says SC

The SARFAESI Act, which is now rarely being used after the Insolvency and Bankruptcy Code has come into existence since 2016, allows banks to seize, take control, manage and sell assets of defaulting borrowers without the int

However, the apex court clarified that it is not asking private hospitals to treat Covid-19 patients for free

No conflict if state cane prices higher than minimum fixed by Centre: Supreme Court

Since 2009-10, the SMP has been replaced with fair and remunerative price (FRP) and some states like Uttar Pradesh continue to announce state-advised prices which are higher than FRPs.

In relief to Future Group, SC refuses to interfere with HC order on pledged shares sale

Senior counsel KV Vishwanathan, appearing for UBS, argued that the Future Group firm owes it Rs 610 crore and the default on the latter’s part cannot be attributable to any force majeure event.

The bench, led by Justice SK Kaul, while refusing to stay the HC’s March 30 order, disposed of UBS AG’s appeal with a direction to approach the HC on May 4, the scheduled date for hearing.

New-Look: Zoom in for justice, at a court near you

On March 30, the Kerala High Court had set a precedent going live with the court hearings using an online video calling app which was accessed by even the common people.

While Justice Patel was sitting in his study for the court hearing, his staff and lawyers, who also joined in from their residences, were connected online.

Supreme Court asks JP Associates to return 858 acre to JIL

While quashing the NCLAT stay order, the SC went by the original order of the NCLT and termed the whole transaction as “preferential”.

sc, supreme court
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