Allied Silica files ₹908 cr claim against Tata Chemicals in arbitration dispute, ET LegalWorld
Allied Silica Limited (ASL) and its Promoter Manmohan Singh Jain have filed a Statement of Claim against Tata Chemicals in arbitration proceedings initiated under the rules of the Mumbai Centre for International Arbitration. The present dispute arises out of a Business Transfer Agreement dated April 7, 2018 (BTA) executed between ASL, ASL’s promoters and the […]
Sebi bans finfluencer, firm from securities mkt; orders Rs 9.5 cr disgorgement for unlawful advisory biz, ET LegalWorld
Sebi on Tuesday barred YouTuber Ravindra Balu Bharti and his company Ravindra Bharti Education Institute from the securities market until April 4, 2025, and directed them to disgorge Rs 9.5 crore ‘unlawful gain’ earned from alleged unregistered investment advisory business. Additionally, the regulator prohibited Shubhangi Ravindra Bharti, Rahul Ananta Gosavi and Dhanashri Chandrakant Giri from […]
Sebi expands optional T+0 settlement to top 500 stocks, ET LegalWorld
Markets regulator Sebi on Tuesday expanded the optional T+0 (same day) settlement in the equity cash market to the top 500 scrips by market capitalisation. Also, Sebi said that all stock brokers can participate in the optional T+0 settlement cycle. Further, they have been permitted to charge differential brokerage for T+0 and T+1 settlement cycles, […]
Sebi proposes harnessing DigiLocker to reduce unclaimed assets in securities market, ET LegalWorld
Markets regulator Sebi on Tuesday proposed leveraging DigiLocker, a government-backed digital document storage platform, to streamline processes and minimize unclaimed assets in the securities market. In its consultation paper, the regulator has proposed that depositories and mutual funds should provide demat and mutual fund holding statements on DigiLocker. Further, it has been suggested that KYC […]
Centre & state government must act in Manipur, not us: Supreme Court, ET LegalWorld
Realising that its intervention failed to douse the 18-month-old Kuki-Meitei ethnic conflagration that continues to singe Manipur, SC on Monday focused on remedial measures by asking the state to give details of properties burnt, damaged, looted or illegally occupied during the crisis. “We want every detail of such incidents. Also give details of action taken […]
For how long freebies can be given, why not create job opportunities, asks SC, ET LegalWorld
“For how long freebies can be given?” the Supreme Court asked on Monday while stressing the need for creating job opportunities and capacity building for migrant workers being given free ration since the Covid pandemic. A bench of Justice Surya Kant and Justice Manmohan was surprised when the Centre informed the court that 81 crore […]
Sebi warns investors against unregistered online platforms offering unlisted debt securities, ET LegalWorld
Market watchdog Securities and Exchange Board of India (Sebi) has issued a stern warning to investors about unregistered online platforms offering unlisted debt securities. While highlighting the risks associated with such platforms, the regulator has cautioned investors against using these platforms. It said that unregistered online platforms operate outside Sebi’s regulatory framework and lack essential […]
NCLT Denies Restraining Order Against Ramalinga Raju’s Sons in Satyam Scam Case, ET LegalWorld
The National Company Law Tribunal in Hyderabad has refused to pass any restraint order against Maytas directors B Teja Raju and Rama Raju, sons of Satyam founder B Ramalinga Raju. A tribunal bench comprising NVR Badarinath, judicial member, and Charan Singh, technical member, turned down the 15-year-old request of the Union corporate affairs ministry, which […]
Delhi HC grants interim relief to Jack Daniel’s, stays infringing trademark, ET LegalWorld
Highlights The Delhi High Court has granted interim relief to Jack Daniel’s Properties, Inc., staying the operation of a trademark registered by Manglam Krupa under Class 05, which was found to violate the Trade Mark Act, 1999. The court’s decision was based on the grounds of irreparable harm to the goodwill and reputation of the […]
IBBI chairman Mital, ET LegalWorld
Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mital said on Saturday that a creditor-led resolution framework is in the offing, which aims to lower the workload of the adjudicating authority by enabling lenders to take on greater responsibilities and expedite the rescue of stressed firms. “We are trying to bring in what we […]