NCLAT restores IFIN’s Rs 593-cr claim in Attivo with 39 pc vote share in lenders’ panel, ET LegalWorld
The National Company Law Appellate Tribunal (NCLAT) has restored claims worth Rs 593 crore of IL&FS Financial Service (IFIN) along with its voting rights in the committee of creditors in the ongoing insolvency resolution process of Attivo Economic Zones. Earlier the interim resolution professional of Attivo Economic Zones, a part of Kolkata-based Srei Infrastructure Finance […]
ICICI Lombard petition exposes “core fraud of vehicle implant” in road accident claim, ET LegalWorld
A thorough investigation by the Special Investigation Team (SIT), constituted by the Allahabad High Court, Lucknow Bench, on a petition filed by ICICI Lombard, has unveiled staggering fraudulent practices in road accident claims. In one particular case, which involves a claim filed in the aftermath of the tragic death of Chandrawati, alias Indrawati, who died […]
How well does health insurer settle claims? Latest Irdai incurred claim ratio of general, health insurance companies in India, ET LegalWorld
When purchasing, renewing, or transferring a health insurance policy, the first question that often comes to mind is how the insurance company handles claims. The claim settlement record of a general or health insurance company provides an indication of the percentage of claims it settles in a financial year out of the total claims it […]
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 […]
Zee’s ₹170 Cr arbitration claim against Railtel dismissed, ET LegalWorld
Highlights The Arbitral Tribunal has rejected Zee Entertainment Enterprises Limited’s claim regarding the wrongful termination of the Content on Demand Agreement with Railtel Corporation of India Limited. The tribunal also dismissed the counterclaims made by Railtel Corporation of India Limited, which involved a total dispute amounting to ₹170 Crores. Zee Entertainment Enterprises Limited and Margo […]
SC grants telecom firms right to claim tax credits on infrastructure duties, ET LegalWorld
In a major development for the telecom industry, the Supreme Court today ruled in favor of telecom companies, affirming their entitlement to claim credit for duties paid on parts such as tower components and green shelters. This decision overturns a previous judgment by the Bombay High Court, which had classified these items as non-capital goods, […]
Operational creditors cannot claim interest without prior agreement with corporate debtor:NCLAT, ET LegalWorld
The National Company Law Appellate Tribunal (NCLAT) has held that invoices that have been sent by the Operational Creditor containing the term of interest cannot be operated against the Corporate Debtor unless there is an agreement for interest or any other document showing that the Corporate Debtor has accepted the obligation for interest. The appellate […]
NCLT rejects JC Flowers’ claim against HDIL, says collateral alone doesn’t meet IBC standards, ET LegalWorld
The National Company Law Tribunal (NCLT) dismissed a liability claim by JC Flowers ARC Pvt Ltd against Housing Development & Infrastructure Ltd. (HDIL), ruling that the debt did not qualify as a “financial debt” under the Insolvency and Bankruptcy Code (IBC) as it was not due or payable at the time of HDIL’s corporate insolvency […]
NGT issues notice to authorities over claim pollution big factor in mortality, ET LegalWorld
The National Green Tribunal has sought a response from the Centre and nine state pollution control boards along with the Delhi Pollution Control Committee on a study cited by a newspaper alleging severe impact of poor air quality on mortality rates across 10 major Indian cities. The green body was hearing a matter where it […]
NGT issues notice to authorities over claim pollution big factor in mortality, ET LegalWorld
The National Green Tribunal has sought a response from the Centre and nine state pollution control boards along with the Delhi Pollution Control Committee on a study cited by a newspaper alleging severe impact of poor air quality on mortality rates across 10 major Indian cities. The green body was hearing a matter where it […]