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 junks order for fresh valuation of Educomp arm’s shares in US firm sold by SBI Singapore, ET LegalWorld
Insolvency appellate tribunal NCLAT has set aside the directions for a fresh valuation of shares, which were held by Educomp Solutions’ Singapore-based subsidiary Educomp Asia Pacific Pte in US-based firm The Learning Internet Inc and sold by SBI Singapore. Wondering over the basis on which the Delhi bench of NCLT passed direction for fresh valuations, […]
Govt invites application for SEBI chief post, Madhabi Buch’s tenure ends on Feb 28, ET LegalWorld
The government on Monday initiated the process to find a successor for market regulator SEBI chief Madhabi Puri Buch, who was involved in an alleged conflict of interest row. The three-year term of Buch as Securities and Exchange Board of India (SEBI) chairperson ends on February 28. Buch turned 60 this month. The Department of […]
OpenAI to face digital news firms of Ambani, Adani in copyright battle, ET LegalWorld
Digital news units of Indian billionaires Gautam Adani and Mukesh Ambani, and other outlets like the Indian Express and the Hindustan Times, have mounted a legal challenge against OpenAI alleging it improperly used copyright content, legal papers show. The media outlets including Adani’s NDTV and Ambani’s Network18 have told a New Delhi court they want […]
Meesho closes $550 million round; moves NCLT to shift domicile, ET LegalWorld
Ecommerce firm Meesho has closed another $250-$270 million in financing with new investors Tiger Global, Think Investments, Mars Growth Capital joining an ongoing capital raise, taking the round’s total to about $550 million, majority of which is in secondary, people aware of the development told ET. The SoftBank- and Prosus-backed ecommerce firm has also filed […]
Tech industry bats for deeptech fund, tweaks in safe harbour rules’ threshold, ET LegalWorld
India’s apex IT industry body Nasscom has batted for tweaks in safe harbour rules and widening the scope for utilisation of SEZ reinvestment reserves in its Budget wishlist, while advocating for creation of a central deeptech fund to bolster startup ecosystem in India. Creation of a grant framework for the deeptech ecosystem, and making the […]
GST intelligence wing, ET LegalWorld
The directorate general of Goods and Services Tax Intelligence Wing (GST IW), Jamshedpur regional unit, has exposed tax fraud, estimated to exceed ₹100 crore. Led by joint director Sarthak Saxena, six teams comprising 40 members conducted raids across eight locations in Jugsalai, Adityapur, and NH-33. The 30-hour operation, which began on Friday, concluded on Saturday. […]
Income tax payers want FM Sitharaman to cut rates, ET LegalWorld
A pre-budget survey reveals that individual taxpayers want relief on the personal tax front to increase their disposable income in Budget 2025-26 to be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1. A majority of respondents, 57 per cent, want lower tax rates, while 25 per cent advocate for higher exemption limits, […]
Sebi launches digital knowledge repository Dharohar on Republic Day, ET LegalWorld
Capital markets regulator Sebi on Sunday said it has launched a digital knowledge repository, “Dharohar – Milestones in the Indian securities market”, on the occasion of the country’s 76th Republic Day. The securities market, known for its diverse products, participants, and institutions, has a long-standing history of organised trading over the past 150 years, Sebi […]
Govt proposes more sops for scrapping vehicles with BS-II, older emission standard, ET LegalWorld
With an aim to get rid of high-polluting vehicles, the transport ministry has proposed to double the rebate up to 50 per cent in one-time tax on purchase of new vehicles after scrapping those with BS-II and earlier emission standards. At present, a discount of 25 per cent in Motor Vehicle tax is provided on […]