NCLAT Approves Byju's Settlement With BCCI

The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has approved a settlement between Byju's, a prominent ed-tech firm, and the Board of Control for Cricket in India (BCCI). This settlement which involves the payment of ₹158 crore in arrears will allow Byju's to exit insolvency proceedings that were initiated due to a petition from the BCCI. Justice Rakesh...

Supreme Court Asks Expert Committee To Suggest Reforms For Better Administration Of NEET-UG Exam

While refusing to cancel the NEET-UG exam held on May 5 this year on account of paper leak and malpractices, the Supreme Court today expanded the mandate for a 7-member expert committee constituted by the Union government to look into NEET paper leak and other malpractices.A bench of CJI DY Chandrachud and Justices JB Pardiwala, Manoj Misra delivered the judgment and prescribed the mandate...

Plea In Supreme Court Challenges Ban On Blood Donations By Gay Individuals

The Supreme Court today ( August 2) issued notice to the Union Government on a petition challenging the constitutional validity of the Guidelines on Blood Donor Selection and Blood Donor Referral of 2017 to the extent it prevents gay men from donating blood. These guidelines issued by National Blood Transfusion Council (NBTC) and National Aids Control Organisation (NACO) currently prevent gay...

SEBI Fines IIFL Securities ₹3 Lakh For Mishandling Client Data

The Securities and Exchange Board of India (SEBI) has imposed a fine of ₹3 lakh on IIFL Securities for failing to maintain due diligence and care in its role as market intermediaries. This penalty arose from the mishandling of client data related to domicile information which impacted stamp duty obligations. Between July 2020 and June 2022, IIFL Securities registered 12,101...

National Housing Bank Act | No Vicarious Liability For Directors Without Specific Pleading That They Were Responsible For Company's Business : Supreme Court

The Supreme Court on Thursday (August 1) held that a complaint against company's directors for offence committed by the company under the National Housing Bank Act, 1987 must contain specific averments that the directors were responsible for the business of the company at the time of the offence.A bench of Justice Abhay Oka and Justice Augustine George Masih quashed a complaint against...

SEBI Bars Omaxe Ltd. And Key Executives from Securities Market For Two Years; Imposes Rs 47 Lakh Fine For Financial Irregularities

The Securities and Exchange Board of India (SEBI) has imposed bar and penalties against real estate firm Omaxe Ltd., its Chairman Rohtas Goel, Managing Director Mohit Goel, and three other key figures. This order follows serious irregularities in the company's financial reporting. SEBI has banned Omaxe Ltd., Chairman Rohtas Goel, Managing Director Mohit Goel, and executives Sudhangshu...

'Her Photos Were Repeatedly Shown' : Supreme Court Dismisses Asianet News Plea To Quash Divya Spandana's Defamation Complaint

The Supreme Court today (August 2) dismissed the petition filed by Asianet News Network, Kannada channel Asianet Suvarna News and journalist Vishweshwar Bhat challenging the Karnataka High Court's refusal to quash the criminal defamation complaint filed by actor Divya Spandana for allegedly linking her to IPL spot-fixing scam. The bench of CJI DY Chandrachud, Justices JB Pardiwala and...

SEBI Proposes Broader Definition Of 'Connected Persons' In Insider Trading Regulations To Include More Relatives

The Securities and Exchange Board of India (SEBI) has proposed to expand the definition of connected persons under the SEBI (Prohibition of Insider Trading) Regulations (PIT Regulations) to include more relatives. Under the current PIT Regulations, a connected person is defined as someone likely to have access to Unpublished Price Sensitive Information (UPSI) due to their employment...

NEET-UG 2024 | Exam Cancellation Only When Malpractice Is Systemic & Separation Of Untainted Candidates Is Impossible: Supreme Court

While refusing to cancel the NEET-UG exam held on May 5 this year on account of paper leak and malpractices, the Supreme Court has observed that an exam may be cancelled only when its sanctity is found to have been compromised at a systemic level and it is impossible to separate the tainted candidates from the untainted ones."...the cancellation of an examination, either for the purposes...

Jammu And Kashmir High Court Orders IAS Officer To Appear In Criminal Contempt Case Following Alleged Harassment Of Judicial Officer

The Jammu and Kashmir and Ladakh High Court has issued a stern order against Shyambir Singh, Deputy Commissioner of Ganderbal, instructing him to appear in person to answer charges of criminal contempt.Following a reference made by the Chief Judicial Magistrate of Ganderbal, Justices Atul Sreedharan and Sanjeev Kumar observed, “Issue notice to the contemnor, Mr Shyambir by Humdast. ...

Developing 'Scientific Temper' Matter Of Education, Not Judicial Writs: Supreme Court Dismisses PIL To Curb Superstition And Sorcery

The Supreme Court today (August 2) refused to entertain a PIL seeking directions to the Union and States to take action against superstition and sorcery practices in the country. The Court observed that it was essential to focus on educating citizens to promote a 'scientific temper' in the country, something which be cannot achieved merely by filling petitions. The PIL was filed by...

Supreme Court Frames Issues In Tamil Nadu's Suit Against Kerala Over Alleged Encroachment In Mullaperiyar Catchment Area

In the suit filed by State of Tamil Nadu alleging that Kerala's construction of a mega car project in the Mullaperiyar catchment area encroached upon the area leased to it, the Supreme Court recently framed issues arising for consideration.A bench of Justices Abhay S Oka and AG Masih passed the order, stipulating the issues thus:i. Whether the Suit is not maintainable under Article 131 of...