Govt to ratify Cape Town Convention; will boost aircraft leasing activities in India: Official, ET LegalWorld
The Cape Town Convention that mainly pertains to leasing of aircraft will soon get legal backing in the country with the Union Cabinet recently approving a bill in this regard, according to a senior official. India is one of the world’s fastest growing civil aviation markets and domestic carriers have placed orders for more than […]
DPIIT discusses ways to promote capital mobilisation for startups with AIFs: Official, ET LegalWorld
The Department for Promotion of Industry and Internal Trade (DPIIT) on Friday held discussions with alternate investment funds (AIFs) here on ways to promote funding for startups in the country, an official said. The official added that a number of AIFs participated in the deliberations. Issues like capital mobilisation and promoting funding for startups in […]
SC issues advisory against phishing attack impersonating official website, ET LegalWorld
The Supreme Court on Thursday issued a public notice against a phishing attack after several fake websites impersonating the official website of the top court were created and hosted on the Internet. The notice said that the attackers were soliciting personal details and other confidential information. It advised the public to not share and divulge […]
Finance ministry official, ET LegalWorld
Concrete steps have been taken to regulate the fintech industry in India as per the Financial Action Task Force’s recommendations to tackle money laundering and terror financing, a central government official said on Wednesday. India is among the few countries that are working on FATF recommendations to regulate the fintech industry, said Vivek Agrawal, additional […]
Govt working on integrated platform for insolvency ecosystem: Official, ET LegalWorld
The government is working on an integrated platform for the insolvency ecosystem covering key stakeholders that will also help speed up resolution processes. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, aims to provide market-linked and time-bound resolution of stressed assets. However, there have been delays in the resolution process. Anita […]
Uttarakhand High Court Halts Legal Action Against Railway Official Over Environmental Violations, ET LegalWorld
Uttarakhand high court has stayed legal proceedings until the next hearing in a 2016 case filed by the Uttarakhand Pollution Control Board (UKPCB) against the divisional railway manager (DRM) of the Izzatnagar division (Bareilly) of the North Eastern Railway (NER) for alleged environmental violations at Kathgodam railway station, Nainital. A single bench of Justice Vivek […]
Delhi Court grants bail to senior official of Avantha Group in money laundering case, ET LegalWorld
The Rouse Avenue Court in Delhi on Friday granted bail to Madhav Acharya, a senior official of the Avantha Group, in connection with a money laundering case. This case stems from a June 2021 FIR filed by the CBI against Gautam Thapar, his company CG Power and Industrial Solutions Ltd., and other associates. Senior Advocate […]
Sebi official, Legal News, ET LegalWorld
Come October, custodians would make funds available to foreign portfolio investors on the day of settlement itself, a senior Sebi official said on Thursday. “Inefficiencies and opacity dog not only the Indian domestic investor; they also impact foreign portfolio investors (FPIs). While India fully moved to a T+1 settlement cycle in January 2023, most FPIs […]