The Supreme Court Thursday reserved verdict on the pleas of e-commerce giant Amazon against the Rs 24,713 crore deal for merger of Future Retail Ltd (FRL) with Reliance Retail.
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The Supreme Court on Friday dismissed a plea of telecom companies for correction of alleged errors in adjusted gross revenue (AGR) calculation. The top court had in September last year granted telecom companies a period of 10 years to clear their pending AGR dues to the central government with 10 per cent payment every year.
Are citizens entitled to information on bank balances and borrowings by Tatas, Ambanis and Birlas under the RTI Act, the banks asked on Monday, while arguing before the Supreme Court that its judgment opening up confidential banking information through RTI would lay bare future business plans for which industrial houses seek credit lines.
The Supreme Court on Wednesday empowered investors in a mutual fund scheme to have the final say on its closure after trustees who manage it give a “reasoned nod” for winding it up. Under present rules, trustees alone have the right to decide on the closure of a scheme.
The Supreme Court has refused to grant interim stay on the RBI’s notice asking Punjab National Bank to disclose information such as defaulters list and its inspection reports under the RTI Act, and sought responses from the Centre, federal bank and its central public information officer.
A number of petitions have been filed before the Supreme Court seeking to initiate contempt of court proceedings against Reserve Bank of India (RBI) governor Shaktikant Das, Chief Executive of Indian Banks Association (IBA) and others for allegedly flouting the SC’s earlier order, by turning and declaring the account of the petitioners as Non Performing … Continue reading Petitions filed in SC against RBI governor, others
In order to reduce pendency of cheque bounce cases which have reached 35 lakh across courts, the Supreme Court on Thursday asked the Centre whether it can create additional courts for expeditious disposal of such matters.
The Supreme Court on Monday barred a final ruling by a tribunal reviewing Future Group’s $3.4 billion sales of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc, three sources said. Amazon appealed to the Supreme Court this month against Future Group’s sale to market leader Reliance Industries, accusing its partner … Continue reading SC bars final tribunal ruling on Future’s $3.4bn deal
Holding that banks cannot wash off their hands towards their customers for the operation of lockers, the Supreme Court Friday directed the Reserve Bank of India (RBI) to lay down regulations within six months mandating the steps to be taken by banks with respect to locker facility management.
The Supreme Court on Monday asked the Centre and WhatsApp to reply to a fresh plea alleging lower standards of privacy for Indians in comparison to European users saying it is the duty of the judiciary to protect citizens’ privacy.
The Supreme Court on Tuesday directed Franklin Templeton Mutual Fund to pay Rs 9,122 cr among unitholders of six mutual fund schemes that were shut down by the company abruptly. SC asked the amount be disbursed among the unit holders in proportion to the respective interests in the assets of the scheme. SBI Mutual Fund … Continue reading SC orders Franklin Templeton to pay Rs 9,122 crore
The Supreme Court has sought responses from shareholders of the nearly 100-year-old Lakshmi Vilas Bank (LVB) on a petition by the Reserve Bank of India (RBI) seeking consolidated hearing of petitions. These have been filed before four high courts, challenging the merger of LVB with the Indian subsidiary of Singapore’s DBS Bank.
The Supreme Court on Thursday stayed a Securities Appellate Tribunal order upholding Sebi’s direction to RIL to pay up disgorged amount of Rs 447 crore on the condition that it deposited Rs 250 crore in the Investors’ Protection Fund.
The Supreme Court Thursday reserved its verdict on the cross-appeals filed by Tata Sons Pvt Ltd and Cyrus Investments Pvt Ltd against the appellate tribunal NCLAT order which had restored Cyrus Mistry as the executive chairman of the over $100 billion salt-to-software Tata conglomerate. The bench asked the parties to file compiled written submissions and … Continue reading SC reserves judgement in Tata-Mistry case
Shapoorji Pallonji Group told the Supreme Court on Tuesday that Tata Sons was not a family-run enterprise to be headed only by a Tata and emphasised that to end oppression of minority stakeholders in the corporate giant controlled by Tata Trusts, Cyrus Mistry needed to be appointed as a director on the company’s board.
The Supreme Court on Wednesday stayed the March 4 order of National Company Law Appellate Tribunal (NCLAT) asking fair trade regulator CCI to again initiate the probe against e-commerce major Flipkart for an alleged use of its dominant position.
The Supreme Court on Tuesday rejected former ICICI Bank CEO and managing director Chanda Kochhar’s appeal against a Bombay high court order last year dismissing her plea against being removed as the bank’s chief. The top court refused to interfere with the order which dismissed the petition filed by Kochhar challenging her termination in connection … Continue reading SC rejects Kochhar’s appeal against termination
The Securities and Exchange Board of India (Sebi) has moved the Supreme Court, seeking a direction to Subrata Roy’s two Sahara Group companies to pay up the remainder of the amount directed to be deposited by the apex court in 2012. With interest this amount has ballooned to Rs 62,600 crore.
The Enforcement Directorate (ED) Friday assured the Supreme Court that it would not take any coercive action against former ICICI Bank CEO and MD Chanda Kochhar in a money laundering case. A bench headed by Justice S K Kaul was informed by Solicitor General Tushar Mehta that the agency would not take any coercive step … Continue reading ED assures SC of no coercive action against Kochhar
After partnering with the Tata Group for the last 55 years, the Shapoorji Pallonji (SP) Group on Wednesday requested the Supreme Court to separate its interests from the salt-to-software conglomerate.
The Supreme Court on Wednesday adjourned on the petitions seeking direction for waiving of interest on loan during the moratorium period introduced during the pandemic. The govt, in its affidavit filed before SC on October 25, had stated that the interest waiver scheme can be availed by borrowers in specified loan accounts for a period … Continue reading SC adjourns interest waiver case to November 19
In a significant direction, the Supreme Court on Friday ordered telecom companies to disclose to regulator Trai the details of special tariffs and offers made to consumers.
The Supreme Court on Tuesday deferred to November 5 hearing on the pleas seeking an extension of the loan moratorium and waiver of interest on term loans during the six-month moratorium period.
The Centre had on October 5 told the apex court that Mallya cannot be extradited to India until a separate “secret” legal process in the United Kingdom, which is “judicial and confidential in nature is resolved”.
A contract of insurance is of “utmost good faith” and a proposer who seeks to obtain life insurance policy is duty bound to disclose all material facts bearing upon the issue, the Supreme Court has said.