SC orders ED to handover Bhushan Power & Steel properties worth Rs 4,025 crore to JSW Steel, ET LegalWorld
The Supreme Court on Friday directed the Enforcement Directorate (ED) to handover to JSW Steel the debt-ridden Bhushan Power & Steel’s properties worth Rs 4,025 crore that were provisionally attached in 2019 in connection with a money laundering probe linked to an alleged bank loan fraud by the erstwhile management. The ED has now taken […]
SC refuses to entertain PIL related to voting rights of Indian diaspora, ET LegalWorld
The Supreme Court on Friday refused to entertain a public interest litigation (PIL) seeking direction for participation of Indian diaspora in the electoral process through postal ballot or embassy voting. Remarking that the court cannot compel the Parliament to enact a particular law, a bench of Justices Surya Kant and Ujjal Bhuyan suggested the PIL […]
AP HC stays ₹1334 cr demand against Jaiprakash Power in sand mining case, ET LegalWorld
The High Court of Andhra Pradesh has stayed the order demanding around ₹1334 crores from the Authority against Jaiprakash Power Ventures Limited in a case related to the alleged illegal extraction, storage, transportation, and selling of sand in the State of Andhra Pradesh. The court has allowed the writ petition on the grounds that the […]
Bombay High Court allows criminal proceedings against Coca-Cola after spider webs found in bottles, ET LegalWorld
The Bombay High Court has declined to quash proceedings against Hindustan Coca-Cola Beverages Private Limited, which faces allegations of selling adulterated beverages. The company had sought to dismiss the case initiated by a magistrate’s court in Maharashtra’s Jalna district after the Food and Drug Administration (FDA) found a fibrous substance and cobwebs inside bottles of […]
FinMin asks banks to closely monitor cases in NCLT, NARCL to minimise procedural delays, ET LegalWorld
The Finance Ministry on Thursday asked banks to closely monitor cases in NARCL and NCLT to minimise procedural delays and adjournments so that bad loan resolution matters are expedited. An integrated portal is being developed by the Ministry of Corporate Affairs for seamless information flow to banks on the National Company Law Tribunal (NCLT) cases, […]
SC, Legal News, ET LegalWorld
The Supreme Court has said the Enforcement Directorate and its director may provide instructions related to the facts of a money laundering case but they cannot direct their prosecutors on how to conduct themselves in court. The top court ruling underscored the independence of public prosecutors as officers of the court and limits the influence […]
NCLAT appoints NBCC as PMC to complete 16 Supertech projects worth ₹9,445 cr, ET LegalWorld
The National Company Law Appellate Tribunal (NCLAT) has appointed NBCC (India) Limited as Project Management Consultant for the completion of 16 projects of Supertech Ltd. NBCC will Complete 16 projects with 49,748 nos. of houses in Uttar Pradesh, Uttarakhand, Haryana, and Karnakata. The tentative construction cost of the project is approx Rs. 9,445 crore including […]
SC issues contempt notice to Anil Ambani firm, Axis Bank, ET LegalWorld
The Supreme Court on Wednesday sought response from the Delhi Airport Metro Express Pvt Ltd (DAMEPL), the managing director (MD) of the Reliance Infrastructure subsidiary and the Axis Bank and its managing director as to why contempt proceedings should not be initiated against them for failing to refund more than Rs 4,500 crore, including interest, […]
CCI looking at killer, creeping acquisitions in digital market: Ravneet Kaur, ET LegalWorld
The Competition Commission of India (CCI) is looking at deal values in M&A transactions in the digital market sector to check if such transactions are “killer or creeping acquisitions”, an official said on Wednesday. CCI Chairperson Ravneet Kaur said the anti-trust regulator is looking at the deal value in zero-priced digital models that are being […]
Reliance Strategic Business Ventures’ Rs 202 cr plan for Karkinos Healthcare approved by NCLT, ET LegalWorld
The National Company Law Tribunal (NCLT) of Mumbai has approved Reliance Strategic Business Ventures Limited’s Rs 202 crore resolution plan for Karkinos Healthcare Pvt. Ltd. (KHPL), a tech-driven oncology platform, which was undergoing insolvency proceedings. The Mumbai Bench gave its nod on December 9, 2024, following approval from 100% of committee of creditors (CoC). KHPL […]