NCLAT limits insolvency against Raheja to one project only, seeks report for other projects, ET LegalWorld
In a relief to Raheja Developers, the appellate tribunal NCLAT has confined the insolvency proceedings against the realty firm to only one of its projects ‘Raheja Shilas’. However, it has directed Raheja Developers to provide the details regarding the other incomplete projects and the status of all ongoing projects, enabling appropriate orders to be passed. […]
Indian crypto exchanges’ futures trade with foreign peers may test FEMA limits, ET LegalWorld
Mumbai : As Bitcoin surged toward $70,000 and Wall Street went long on Donald Trump, Indian crypto exchanges tapped offshore bourses for crypto futures trade which is catching on, while many HNIs reportedly made misleading declarations to banks to show their foreign crypto holdings as ‘security’ investments. Local bourses as well as these HNIs believe […]
NCLAT affirms CoC’s power to liquidate debtor, limits judicial review to ensuring IBC compliance, ET LegalWorld
The National Company Law Appellate Tribunal held that the Committee of Creditors is a business decision taken in the exercise of their commercial wisdom which is not amenable to judicial review on the ground that the Committee of Creditors is statutorily empowered to decide on the liquidation of the Corporate Debtor at any time before […]
Sebi enhances position limits for trading members in index F&O contracts, ET LegalWorld
Markets regulator Sebi on Tuesday said the position limit for Trading Members (TMs) across client and proprietary trades in index futures and options will now be higher of Rs 7,500 crore or 15 per cent of total open interest (OI) in the market. The position limits are separately applicable for index futures and index options, […]
Sebi eases financial penalty framework for technical glitches, limits liability to MIIs, ET LegalWorld
Easing penal actions for technical glitches, Sebi on Friday said financial penalties will be imposed solely on the market infrastructure institutions (MIIs), rather than their Managing Directors (MDs) or Chief Technology Officers (CTOs). Moreover, MIIs — stock exchanges, clearing corporations and depositories — will also be granted the opportunity to explain the cause of any […]
NGT seeks response on ozone levels breaching permissible limits in Delhi, ET LegalWorld
The National Green Tribunal has directed the Delhi Pollution Control Committee, Central Pollution Control Board and the Commission for Air Quality Management to explain within four weeks why ozone levels in certain areas of Delhi were exceeding permissible limits. According to an order dated September 6, the green panel directed the authorities concerned to “submit […]