NCLAT sets aside plea filed against NCLT order approving sale of Reliance Broadcast Network, ET LegalWorld
The NCLAT on Monday set aside a batch of appeals filed against the NCLT order approving bids of Sapphire Media for Reliance Broadcast Network Ltd. The National Company Law Appellate Tribunal (NCLAT) upheld the order of the Mumbai Bench of the NCLT, which had on May 6, 2024 approved the resolution plan of Sapphire Media […]
Reliance Infrastructure faces ₹494 cr arbitral award; Plans appeal, ET LegalWorld
Reliance Infrastructure Limited has received an arbitral award passed by a arbitral tribunal in the matter of arbitration between Aravali Power Company Private Limited and RIL in relation to a EPC Contract on December 18, 2024. A three-member arbitral tribunal by a 2:1 majority held in favour of APCPL. The Award against the Company is […]
SC restores Exim Bank of China, others as financial creditors in Reliance Infratel’s insolvency process, ET LegalWorld
The Supreme Court on Friday restored China Development Bank, Exim Bank of China, Asset Care and Reconstruction Enterprises and others as financial creditors in the insolvency process of Reliance Infratel Ltd, which is now acquired by Reliance Project & Property Management Services, a subsidiary of Reliance Jio Infocomm. A Bench led by Abhay S Oka […]
Reliance Strategic Business Ventures’ Rs 202 cr plan for Karkinos Healthcare approved by NCLT, ET LegalWorld
The National Company Law Tribunal (NCLT) of Mumbai has approved Reliance Strategic Business Ventures Limited’s Rs 202 crore resolution plan for Karkinos Healthcare Pvt. Ltd. (KHPL), a tech-driven oncology platform, which was undergoing insolvency proceedings. The Mumbai Bench gave its nod on December 9, 2024, following approval from 100% of committee of creditors (CoC). KHPL […]
Sebi orders attachment of bank, demat accounts of Reliance Big Entertainment, ET LegalWorld
Capital markets regulator Sebi on Monday ordered the attachment of bank accounts as well as shares and mutual fund holdings of Reliance Big Entertainment to recover dues of Rs 26 crore. Before this, the markets watchdog on November 14 sent a notice to Reliance Big Entertainment Pvt Ltd (now known as Rbep Entertainment Pvt Ltd) […]
Sebi penalises Reliance Securities for breach of norms, Legal News, ET LegalWorld
Capital markets regulator Sebi on Friday slapped a monetary penalty of Rs 9 lakh on Reliance Securities for flouting market norms as well as stock brokers rules. The order came after the regulator and exchanges, NSE and BSE, had conducted a thematic onsite inspection of the books of accounts, records and other documents of authorised […]
Reliance Power secures High Court stay against SECI’s debarment notice, ET LegalWorld
Highlights Reliance Power Limited successfully challenged the debarment notice issued by Solar Energy Corporation of India Limited (SECI) in the High Court of Delhi, resulting in a stay on the notice for all subsidiaries except Reliance NU BESS Limited. The debarment notice, effective from November 06, 2024, was based on allegations that Reliance NU BESS […]
Sebi slaps Rs 26 cr demand notice on Reliance Big Entertainment in RHFL fund diversion case, ET LegalWorld
Capital markets regulator Sebi has asked Reliance Big Entertainment to pay Rs 26 crore in fines for failing to clear penalties imposed by the regulator in a case pertaining to illegal diversion of funds. The regulator also warned that assets, including bank accounts, of Reliance Big Entertainment Pvt Ltd (now known as Rbep Entertainment Pvt […]
SC to hear DMRC’s contempt petition against Reliance Infra firm for Rs 2,800 cr refund, ET LegalWorld
The Supreme Court will hear today the Delhi Metro Rail Corporation’s (DMRC) petition seeking to initiate contempt against Reliance Infrastructure firm Delhi Airport Metro Express Private Ltd (DAMEPL), its managing director and others for “wilfully disobeying” its April 10 directions for refund of the amounts deposited by the Corporation. A Bench comprising justices BR Gavai […]
SC dismisses SEBI’s appeal against Mukesh Ambani’s Reliance, ET LegalWorld
The Supreme Court on Monday dismissed SEBI’s appeals against a Securities Appellate Tribunal’s ruling that had quashed the markets regulator’s 2021 order against Reliance Industries, MD Mukesh Ambani, the Navi Mumbai Special Economic Zone and the Mumbai SEZ. The case was related to alleged manipulative trades in shares of the erstwhile Reliance Petroleum (RPL). “What […]