Indu Bhan

Articles By Indu Bhan

476 Articles

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

SC asks sugar mills to show they met eligibility criteria for UP scheme

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

sugar mills, UP scheme, supreme court, Uttar Pradesh government, Sugar Industry Promotion Policy News

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.

EVM, lok sabha elections 2019, evms, elections in india, electronic voting in india, chandrababu naidu, chief election commissioner, sunil arora, congress, chief minister, EVM VVPAT News

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.

supreme court, electoral bonds, electoral bonds verdict, supreme court news, supreme court live News

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

rbi, supreme court, sc News

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.

rcom, sbi, ericcsson News

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
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