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Supreme Court CB Starts Hearing On Validity Of PSUs Appointing Arbitrators From Their Own Panels
A Constitution Bench of the Supreme Court today (August 28) commenced the hearing on the issue whether a person, who is ineligible to be appointed as an arbitrator, can appoint an arbitrator. The Constitution Bench comprising Chief Justice of India DY Chandrachud, Justice Hrishikesh Roy, Justice PS Narasimha, Justice JB Pardiwala, and Justice Manoj Misra was considering the issue. The...
Bengaluru Court Restrains 'X' User From Making Defamatory Statements Against Ex-CM Basavaraj Bommai, Orders Removal Of Posts
A City Civil And Sessions court on Wednesday restrained the media and one Jagadesh K N from publishing, telecasting or circulating any defamatory publication against Member of Parliament and former Chief Minister of Karnataka Basavaraj S Bommai. The respondent Jagadesh has claimed on social media site 'X' formerly 'Twitter', that he had private videos of Bommai from his tenure as Chief...
MBBS Admissions For Persons With Mental Health Conditions: Supreme Court Asks NMC's Expert Committee To Review Its Opinion
In an MBBS-aspirant's plea challenging denial of reservation under the quota for Persons With Disabilities (PwD) on account of a mental health condition, the Supreme Court recently directed an Expert Committee constituted by the National Medical Council to review its recommendations in light of the Centre's notification of March 2024 prescribing certain guidelines for assessment of...
SEBI Bars Rana Sugars And Top Promoters For 2 Years, Imposes ₹63 Crore Fine For Fund Diversion And Fraudulent Activities
The Securities and Exchange Board of India (SEBI) has taken action against Rana Sugars Limited (RSL) and its key promoters and officials. This move comes after a detailed investigation into allegations of fund diversion and fraudulent activities within the company. SEBI's decision includes barring the company and its top management from participating in the securities markets for...
RoC Chennai Imposes ₹7.22 Lakh Fine On Doowon Automotive Systems India Pvt. Ltd. For Delay In Declaration Of Significant Beneficial Ownership
The Registrar of Companies, Cheenai has imposed a fine of Rs. 7.22 Lakh on Doowon Automotive Systems India Private Limited, its officers, and the significant beneficial owners for their violations of Sections 90(1) and 90(4) of the Companies Act, 2013. Section 90(1) of the Companies Act, 2013 mandates that every individual who holds significant beneficial ownership in a company...
CJI Shifts DDA Tree Felling Contempt Case To His Bench From Justice Oka's Bench
The contempt case in the Supreme Court against the Delhi Development Authority (DDA) over tree felling will now be heard by a bench led by the Chief Justice of India instead of the bench led by Justice Abhay S Oka.The case is listed tomorrow before a bench comprising CJI DY Chandrachud, Justices JB Pardiwala and Manoj Misra.The matter was heard on several days in June-July by a bench...
CDSL Settles With SEBI For ₹1.3 Crore Over Alleged Regulatory Violations
The Central Depository Services (India) Limited (CDSL), one of India's prominent depositories, has resolved allegations of regulatory violations by paying a settlement amount of ₹1.3 crore to the Securities and Exchange Board of India (SEBI). This settlement stems from alleged non-compliance with specific directives issued by SEBI. SEBI initiated adjudication proceedings against...
Citibank Settles With SEBI For Over ₹40 Lakh Following Investigation Into Alleged Regulatory Violations
Citibank N.A. has settled with the Securities and Exchange Board of India (SEBI) agreeing to pay over ₹40 lakh in connection with an investigation into alleged regulatory breaches. This settlement comes after SEBI investigates Citibank's failure to comply with several regulations, including those governing foreign investments, guidelines for depositories and participants and procedures...
'What Sort Of IAS Officer?' : Supreme Court Issues Contempt Notice To Maharashtra Addl Chief Secretary (Revenue & Forest)
The Supreme Court today (on August 28), issued a show-cause notice for contempt action to Mr. Rajesh Kumar, Additional Chief Secretary Revenue and Forest Department, Maharashtra Government, taking exception to certain statements in an affidavit filed by him which suggested that the Court was not following the law. Observing that the statements were prima facie contemptuous, the Court...
SEBI Imposes ₹4 Lakh Penalty On LKP Securities Ltd For Violations In Pre-Trade Authorisation Compliance
The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹4 lakh on LKP Securities Ltd for failing to comply with pre-trade authorisation requirements. SEBI's investigation of LKP Securities followed an inspection carried out in conjunction with the Bombay Stock Exchange (BSE), National Stock Exchange of India Ltd (NSE), and Multi Commodity Exchange of India...
"Attempt To Intimidate Office Of Chief Justice": Calcutta High Court Dismisses PIL Seeking To Modify Judge's Roster, Imposes 50K Cost
The Calcutta High Court has dismissed a PIL seeking to modify a judge's roster due to allegations of conflict of interest, with exemplary costs of Rs 50,000. The Court also debarred the litigant from filing a PIL ever again, by invoking the Calcutta High Court Appellate Side Rules.Advocate Sanjoy Das, the petitioner, sought to change the determination of Justice Amrita Sinha's bench...