SEBI Enables ESG And Credit Rating Activities In IFSC-GIFT City

To bolster the financial ecosystem at the International Financial Services Centre (IFSC) in Gujarat International Finance Tech-City (GIFT City), the Securities and Exchange Board of India (SEBI) has granted permission to credit rating agencies (CRAs) and ESG rating providers (ERPs) to operate under the jurisdiction of the International Financial Services Centres...

Illegal Financial Advisory: SEBI Officials Collects Proof From Deleted Website Archives, Imposes Penalty Of Rs. 6 Lakh

The Securities and Exchange Board of India (SEBI) imposed a penalty of Rs. 6 lakh on Shashikant Kumar, owner of SM Global Research, for operating an illegal investment advisory service without the requisite registration. Kumar tried to elude regulatory action by deleting the website from which he was running an illegal advisory. But, SEBI traced the website and its contents,...

Israel's Continued Presence In Occupied Palestinian Territory Unlawful: International Court Of Justice

The International Court of Justice (ICJ) has opined that Israel's continued occupation of the Occupied Palestinian Territory is illegal, and Israel is obligated to end its occupation and make reparations to all affected persons.The Court arrived at this conclusion in its Advisory Opinion on the “Legal Consequences arising from the Policies and Practices of Israel in the Occupied...

Supreme Court Refuses To Entertain Petition Challenging TN Hindu Religious And Charitable Endowments Act

The Supreme Court today (July 19) refused to entertain a petition challenging the Tamil Nadu Hindu Religious and Charitable Endowments Act of 1959 (HRCEA). The Court while dismissing the petition granted liberty to the petitioner to move the High Court. The bench led by CJI DY Chandrachud opined that the petitioners approach the High Court instead. The CJI stated that the High Court is...

Lok Pal Refuses To Investigate PM Modi's Claim On Congress Getting Black Money From Adani, Ambani; Says It Was 'Election Propaganda'

The Lok Pal of India has rejected a petition seeking an investigation against Prime Minister Modi over a speech made by him during the recent Lok Sabha election campaign that industrialists Adani and Ambani were giving black money to the Congress party.The anti-corruption body termed that the Prime Minister's speech “borders on surmising and conjecturing” and was an...

Manipur Violence : Judges' Panel Constituted By Supreme Court Seeks Extension Of Term

Senior Advocate Vibha Makhija today (July 19) requested the Supreme Court to grant an extension for the term of the Committee headed by Justice Gita Mittal which is overseeing the humanitarian aspects of the ethnic violence in Manipur. Makhija, who had been appointed as the amicus to represent the committee mentioned before the bench led by CJI DY Chandrachud that the committee's term came to...

Specific Relief Act | Supreme Court Reiterates Mandatory Requirement Of Direct And Specific Pleadings In Suit For Specific Performance

The Supreme Court recently reiterated that the plaintiff in a suit for specific performance of a contract must provide direct, specific, and accurate pleadings that he is willing and ready to perform his obligations in the contract and such pleadings must be proved with evidence.“The pleadings in a suit for specific performance have to be very direct, specific and accurate. A suit for...

Kerala High Court Invites Applications From Eligible Lawyers For Senior Advocate Designation

The Kerala High Court issued a notification inviting applications from eligible advocates for designation as Senior Advocates.The notification states that Senior Advocates can also recommend the names of advocates for designation. As per the notification dated July 18, the last date to submit applications is on or before August 12, 2024, by 4.30 PM. It is stated that applications...

Supreme Court Stays Recovery Actions By Banks/Builders Against Homebuyers Of Certain Stalled Projects In Noida

In an interim relief to several homebuyers who took loans for certain housing projects in Delhi-Noida which got eventually stalled, the Supreme Court recently stayed coercive recovery steps by banks/financial institutions and builders/developers against them. The stay order will also apply to proceedings for cheque dishonour as per Section 138 of the Negotiable Instruments Act.A bench...

Supreme Court Issues Notice To HC On Petition Challenging Punjab & Haryana Superior Judicial Service Examination 2024

The Supreme Court today (July 19) agreed to consider the challenge to the selection and marking procedure adopted for the Punjab & Haryana Superior Judicial Service Examination 2023-24. The petitioner has challenged the entire selection and evaluation process adopted in the Mains (written) Exam for 2023-24. The petitioner has alleged arbitrary markings in the answers of the candidates....

Supreme Court Refuses To Interfere With HC Decision That Writ Petition Isn't Maintainable Over Bar Association Election Dispute

In a case raising the question as to whether a Bar Association's elections are amenable to writ jurisdiction of constitutional courts under Article 226 of the Constitution, the Supreme Court today expressed that if there is an issue regarding elections to a Bar Association, the same shall go before the concerned Civil Court.The bench of Justices Abhay S Oka and AG Masih was dealing in...

Failure To Appoint Company Secretary: RoC Imposes Penalty Of Rs. 30 Lakhs On Standard Glass Lining Technology

The Registrar of Companies, Hyderabad has imposed a penalty of Rs. 30 Lakhs on M/s Standard Glass Lining Technology Limited and its directors for failure to appoint a company secretary and with a delay of five years and five months. Section 203(1) of the Companies Act, 2013 mandates that every company belonging to certain class or classes of companies as may be prescribed shall have...