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The Supreme Court on Monday issued notice to the Centre seeking a framing of a model builder-buyer agreement and agent-buyer agreement in real estate sector as envisaged under Real Estate Regulatory Authority (RERA). The apex court said that it it would help protect home/flat buyers from being exploited by builders. “Uniform builder-buyer agreement is require … Continue reading Homebuyers can’t be left at mercy of builders: SC

The Supreme Court has provided a major tax relief to banks’ earnings from investments in bonds, securities and shares and advised the government to keep its tax regime simple to prevent avoidance of tax liabilities.

The Supreme Court on Thursday stayed all enforcement proceedings before the Delhi high court on Amazon’s petition seeking enforcement arbitrary award restraining Future group from going ahead with its deal with Reliance. It also directed that no statutory authority — NCLT, CCI, Sebi — will pass any final order relating to approval of the deal.

The Supreme Court on Monday rejected a plea filed by e-commerce majors Amazon and Flipkart that sought to stall an antitrust investigation into their business practices. The top court stated that the two companies must face inquiry by the Competition Commission of India (CCI) for anti-competition agreements.

The Supreme Court on Friday said Singapore’s Emergency Arbitrator (EA) award, restraining Future Retail from going ahead with its merger deal with Reliance Retail, falls within the ambit of Arbitration and Concilliation Act. The verdict comes as a big win for e-commerce giant Amazon in the battle for the large Indian market. The US-based company … Continue reading SC restrains Future Retail from going ahead with RIL merger

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.

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

Traders’ body CAIT on Saturday filed a petition in the Supreme Court, making a plea to direct WhatsApp to withdraw its new privacy policy. The body issued a statement claiming that the new WhatsApp privacy policy encroaches upon various fundamental rights of the citizens.

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