SC dismisses application in Hindenburg-Adani group matter, ET LegalWorld
The Supreme Court on Monday dismissed an application filed by a lawyer, challenging the apex court’s Registrar order of August 5, 2024, which had declined to register his previous application related to the Hindenburg-AdGroup matter. A bench headed by Justice JB Pardiwala rejected the application filed by advocate Vishal Tiwari. The application rejected by the […]
NCLAT gives go-ahead for Indiabulls Real Estate-Embassy Group merger, ET LegalWorld
In a major relief to Indiabulls Real Estate (IBREL) and Embassy Group, the appellate tribunal NCLAT has sanctioned the scheme of amalgamation to merge both the real estate firms after setting aside the NCLT order stalling the process. “We set aside the impugned order of NCLT, Chandigarh and allow the prayer to sanction the scheme […]
Amended IT rules on fake news quashed; Dharavi project relief for Adani group, ET LegalWorld
As courts in Maharashtra remained busy with several high-profile cases in 2024, the raging issue of false content got addressed with the Bombay High Court striking down the amended IT rules against fake news on social media. In another significant judgement this year, the HC upheld a tender awarded to Adani Properties Private Limited by […]
RBI lifts restrictions on two Edelweiss Group cos, Legal News, ET LegalWorld
Reserve Bank of India (RBI) has lifted the business restrictions on Edelweiss Group’s NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies. “Having satisfied itself based on submissions and remedial measures put in place by these companies to address the concerns of RBI and […]
Blackstone gets CCI nod to acquire stakes in two Bagmane Group entities, ET LegalWorld
The Competition Commission of India (CCI) on Tuesday said it has cleared Blackstone’s arm BREP Asia III India Holding Co VIII’s proposed acquisition of stakes in Bagmane Developers and Bagmane Rio. US-based Blackstone is the world’s largest alternative asset manager, with more than USD 1 trillion in assets under management (AUM). “The proposed combination involves […]
Exchanges seek clarification on disclosure violations by Adani Group entities, ET LegalWorld
Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya’s airport expansion deal. In its response to the case in the US, Adani Group firms on Thursday had said “there are no allegations made against the company”. On […]
CCI Will Not Pursue Adani Group Case Despite Media Reports, ET LegalWorld
The Competition Commission of India is unlikely to take up the Adani Group case suo motu. CCI chairman Ranveet Kaur indicated that it would not take cognizance of the media reports in this regard. “We have to have some information filed before us, and then the commission takes action on that,” she said. Kaur was […]
Sebi investigating whether Adani Group flouted disclosure rules: Report, ET LegalWorld
India’s capital markets regulator is looking into whether the Adani Group violated rules mandating the disclosure of market-moving information, according to people with knowledge of the matter. The Securities and Exchange Board of India has asked officials at the stock exchanges if Adani Green Energy Ltd. failed to properly disclose the US Justice Department’s investigation […]
Adani Group and Recent Investigations, Legal News, ET LegalWorld
The FCPA stands for Foreign Corrupt Practices Act of 1977, was enacted by Congress for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. Amendments to the FCPA The FCPA was amended in 1998, with which the […]
DPIIT gives nod to Hinduja Group firm IIHL for acquisition of RCAP, ET LegalWorld
The Department for Promotion of Industry and Internal Trade (DPIIT) has given a go-ahead to Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by […]