Supreme Court paves way for ArcelorMittal to take over Essar Steel for Rs 42,000 crore
NEW DELHI: The Supreme Court on Friday paved the way for ArcelorMittal takeover of debt-ridden Essar Steel for Rs 42,000 crore and set aside the July 4 NCLAT order giving equal status to financial creditors and operational creditors. A bench headed by Justice R F Nariman clarified that financial creditors enjoy primacy over operational creditors […]
AGR ruling: COAI ignores Jio’s protest; seeks full waiver of telcos’ dues
NEW DELHI: Ignoring its member Reliance Jio’s contentions, telecom industry association COAI has shot off an ‘addendum’ to its earlier demands and has now sought a complete waiver of statutory dues that its other members such as Bharti Airtel and Vodafone-Idea owe to the government following the Supreme Court ruling. The Cellular Operators Association of […]
AGR verdict: Sunil Mittal approaches Ravi Shankar Prasad, others over statutory dues
NEW DELHI: Telecom tycoon Sunil Bharti Mittal on Monday came knocking at the doors of top government officials including Telecom Minister Ravi Shankar Prasad, over billions of dollars in statutory dues like spectrum and licence fee liability that his and other telcos had not fully provisioned in their accounts. Sources said Mittal first met Prasad […]
In blow to telcos, Supreme Court asks them to pay Rs 92,000 crore to government
NEW DELHI: The Supreme Court on Thursday ruled in favour of the government on recovering adjusted gross revenue (AGR) of about Rs 92,000 crore from telecom service providers including Bharti Airtel, Vodafone, Reliance Communications and state-owned MTNL and BSNL. The setback to the telecos came as the apex court upheld the AGR definition formulated by […]
Eviction of Kochi flat owners on Sunday
KOCHI: The Kerala government has said the process for evicting residents of four illegal apartment complexes (Maradu apartment ) here, ordered to be demolished by the Supreme Court, would commence on Sunday. Authorities have sought the residents’ cooperation to complete the process in four days. “Please understand that we are implementing the Supreme Court order. […]
Supreme Court seeks status report from CBI, ED on investigation in coal scam cases
NEW DELHI: The Supreme Court on Tuesday asked two investigation agencies to give it a status report on their investigation of the coal block allocation scam cases. The court said it would take a practical view on the repatriation of Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) officers investigating their cases to their […]
Supreme Court seeks NBCC response on completing stalled Jaypee group projects
NEW DELHI: The Supreme Court on Tuesday sought response from the NBCC on whether it is willing to give a revised proposal to complete the stalled projects of Jaypee group. A bench of justices A M Khanwilkar and Dinesh Maheshwari issued notice to the National Buildings Construction Corporation Limited (NBCC) and sought its reply by […]
List of 6,000 Amrapali home buyers submitted to Supreme Court
NEW DELHI: A list of 6,000 aggrieved homebuyers of six different Amrapali projects was on Friday submitted to the Supreme Court on its direction by their counsel M L Lahoty. On August 26, a bench headed by Justice Arun Mishra asked Lahoty to furnish project-wise details of the people, who are presently residing in various […]
Assam NRC: Supreme Court orders list of exclusion be published only online on August 31
NEW DELHI: The Supreme Court on Tuesday ordered that the list of those excluded from the final Assam NRC be published only online on August 31. A bench comprising Chief Justice Ranjan Gogoi and Justice R F Nariman said that like Aadhaar data, an appropriate regime be enacted for securing the Assam NRC data. The […]
Petition in Supreme Court seeking removal of restrictions on media in Jammu and Kashmir
NEW DELHI: A petition was on Saturday filed by an editor of a prominent daily from Jammu and Kashmir (J&K) in the Supreme Court seeking removal of restrictions imposed on working of journalists in J&K after scrapping of provisions of Article 370. Anuradha Bhasin, Executive Editor of Kashmir Times, has sought directions for restoration of […]
Supreme Court orders status quo for two weeks on insolvency resolution process of Jaypee
NEW DELHI: The Supreme Court Friday ordered status quo for two weeks on the insolvency resolution process on Jaypee Group’s plea which has challenged the NCLAT order allowing fresh bidding for debt-laden Jaypee Infratech. A bench of justices A M Khanwilkar and Dinesh Maheshwari passed the order after the apex court was informed that Parliament […]
Amrapali Group entered into “sham agreements” with firm linked to M S Dhoni: Auditors to Supreme Court
NEW DELHI: Amrapali Group had entered into “sham agreements” with Rhiti Sports Management Pvt Ltd (RSMPL), which promotes brand of Indian cricketer Mahendra Singh Dhoni, to “illegally divert” home buyers money, the court appointed forensic auditors have told the Supreme Court. The forensic audit report accepted by the top court on Tuesday said that Amrapali […]
Illegal sand mining: Supreme Court issues notices to Centre, CBI, 5 states
NEW DELHI: The Supreme Court on Wednesday sought responses from the Centre, CBI and five states on a plea which sought prosecution of entities involved in illegal sand mining. A bench headed by Justice S A Bobde issued notices to the Centre, the Central Bureau of Investigation, Tamil Nadu, Punjab, Madhya Pradesh, Maharashtra and Andhra […]
Supreme Court cancels registration, lease of Amrapali group
NEW DELHI: The Supreme Court on Tuesday cancelled the registration of the embattled Amrapali group under the Real Estate Regulatory Authority (RERA) and the lease of its properties granted by Noida and Greater Noida authorities. A bench of Justices Arun Mishra and U U Lalit appointed the National Buildings Construction Corporation (NBCC) to complete all […]
Indiabulls petitioners withdraw from Supreme Court amid hints of criminal conspiracy
NEW DELHI: Indiabulls Housing Finance Ltd. said on Thursday that Abhay Yadav, the petitioner who alleged that the company and its Chairman Sameer Gehlaut misappropriated funds, withdrew his writ petition from the Supreme Court. IANS has been repeatedly pointing out that the petitioners filed the plea with malafide intent. Indiabulls housing share closed 11.86 per […]
RBI issues new NPA recognition norms
NEW DELHI: The Reserve Bank of India on (Friday) issued a new framework for resolution of bad loans, replacing the previous norms quashed by the Supreme Court in April, offering a 30-day gap for stress recognition instead of the one-day default earlier. The new norms replaces all the earlier resolution plans such as the framework […]