Flat buyers cannot be put at a disadvantage over builder’s default: Bombay HC, ET LegalWorld
Bombay High Court on Monday said granting deemed conveyance to a housing society does not bar the civic body from taking action against the unauthorised structure, but it would enable the society to pursue its rights to seek regularisation. Bandra’s ALJ Residency Cooperative Housing Society (CHS) Ltd petitioned the high court in 2018 against the […]
Canara Bank files insolvency petition against BGR Energy for ₹71.35 Crore default, ET LegalWorld
Canara Bank Limited has filed a petition to the National Company Law Tribunal, Amaravati Bench, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 against BGR Energy Systems Limited for […]
SEBI court rejects Ketan Parekh’s plea for compounding of case for penalty payment default, ET LegalWorld
A special court here has rejected former stock market broker Ketan Parekh’s plea for the closure of a case initiated against by SEBI for not paying a penalty imposed by the markets regulator, noting the accused prima facie violated the norms “intentionally”. The special judge for cases under the Securities and Exchange Board of India […]
Sebi allows mutual funds to buy, sell credit default swaps, Legal News, ET LegalWorld
Markets regulator Sebi on Friday allowed mutual funds to both buy and sell Credit Default Swaps (CDS), a move aimed at increasing liquidity in the corporate bond market. This flexibility to participate in CDS would serve as an additional investment product for mutual funds, Sebi said in a circular. Earlier, mutual funds were only permitted […]