Supertech Township Projects lender rejects settlement proposal, NCLAT to decide on insolvency, ET LegalWorld
Punjab & Sind Bank, the lead lender of Supertech Township Projects, has rejected the settlement proposal and NCLAT will now take a final decision on the insolvency of the debt-ridden realty firm. Counsel representing Ram Kishore Arora, the suspended director of the realty firm informed NCLAT on Thursday about the rejection of the settlement proposal. […]
CCI okays KKR’s proposal to acquire stake in Rebel Foods, Legal News, ET LegalWorld
The Competition Commission of India (CCI) on Monday approved global investment firm KKR’s proposal to acquire a stake in home-grown food-tech company Rebel Foods. US-based KKR (Kohlberg Kravis Roberts & Co), through its affiliate — Royce Asia Holdings II Pte, is acquiring a stake in Rebel Foods, which owns Faasos, Behrouz Biryani, Oven Story and […]
No proposal to increase retirement age of SC, HC judges: Govt tells RS
The government informed the Rajya Sabha that there are no plans to raise the retirement age for Supreme Court and high court judges. AAP MP Raghav Chaddha advocated for a post-retirement "cooling-off" period for judges, citing concerns about potential conflicts of interest. Source link
RBI gives nod to Canara Bank proposal to divest its stake in life insurance and MF ventures, ET LegalWorld
Canara Bank on Thursday said it has got Reserve Bank’s approval for a proposal to divest the bank’s stake in life insurance and mutual fund ventures. Reserve Bank of India vide its letter dated 5th December 2024 has accorded approval to our bank for divesting its shareholding in Canara Robeco Asset Management Company Ltd and […]
Formulate proposal to address inter-state trafficking of bonded labourers: SC to Centre
The Supreme Court has directed the central government to collaborate with states and union territories to combat inter-state trafficking of bonded laborers, including minors. The court emphasized the need for a unified approach, including a simplified procedure for disbursing immediate financial assistance to rescued laborers, particularly children trafficked across state lines. Source link
Bibek Debroy, the economist who once created a furore with proposal to tax farmers, ET LegalWorld
One of India’s top economists and the chairman of Economic Advisory Council to the Prime Minister, Bibek Debroy, passed away on Friday, aged 69. Debroy, a Padma Shri awardee, has held several key offices including Chairman of the Finance Ministry’s ‘Expert Committee for Infrastructure Classification and Financing Framework for Amrit Kaal’ and a member of […]
SC allows NCLAT to consider NBCC proposal for 17 stalled projects of Supertech Ltd, ET LegalWorld
The Supreme Court on Tuesday allowed the National Company Law Appellate Tribunal (NCLAT) to examine and decide a proposal of the state-owned NBCC seeking to complete embattled realty major Supertech Limited’s 17 stalled projects where around 27,000 hassled home buyers are stuck for years. A bench of Justices Sanjiv Khanna and Sanjay Kumar which issued […]
NCLAT grants two weeks time for Supertech Township’s settlement proposal, ET LegalWorld
The Insolvency appellate tribunal NCLAT has granted two weeks more time to debt-ridden realty firm Supertech Township Projects suspended director Ram Kishore Arora to circulate the settlement proposal to both its lenders and home buyers. The National Company Law Appellate Tribunal (NCLAT) also suggested the realty firm facing insolvency proceedings to publish the settlement proposal […]