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“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
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.
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
The sugar mills had challenged the revocation of the policy before the Allahabad High Court, claiming that they had relied and acted upon the promise of benefit made by the government and had consequently made huge investment
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
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.
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 `
“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
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.