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Legal News

Indian Government Clarifies Voting by Overseas (NRI) Voters of India in Upcoming Elections

In light of the mass circulation of misleading information through social media about the online voting/voting in the Consulate or through proxy/mail by Overseas (NRI) Indian Voters in the forthcoming general election in India, the Election Commission of India has clarified the air surrounding the rumour by clearly affirming that …

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Dharani Sugar and Chemicals Limited vs. Union of India – Supreme Court quashes the circular of RBI

The Supreme Court quashed the circular dated 12.02.2018 issued by Reserve Bank of India which provided for Resolution of Stressed Assets. The circular provided that the lender Banks must put in place Board-approved policies for resolution of stressed assets and that the Banks should initiate steps as soon as there …

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European Union launches WTO Trade Disputes against India and Turkey

European Union launches WTO Trade Disputes against India and Turkey Dispute against India The European Union has requested for consultations with the Government of India on 02.04.2019 under Article 1 and 4 of The Understanding on Rules and Procedures Governing the Settlement of Disputes (DSU) and Article XXII:1 of the …

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One Sided Clauses In Builder-Buyer Agreements Is An Unfair Trade Practice: Supreme Court

The Supreme Court in its judgement dated 02.04.19 has held that the incorporation of one-sided clauses in a builder-buyer agreement constitutes to an unfair trade practice as defined under Section 2 (r) of the Consumer Protection Act, 1986. The bench comprising Justice UU Lalit and Justice Indu Malhotra further observed that …

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Sebi issues circular on appointment of administrators

Securities and Exchange Board of India (“Sebi”) on 2ndApril 2019 has issued a circular pertaining to empanelment of insolvency professionals to be recruited as administrators under the regulator’s framework. As per the mandate, an administrator has to be a registered insolvency professional with the Insolvency and Bankruptcy Board of India …

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NCLT orders insolvency proceedings for IDEB projects

The Hyderabad Bench of The National Company Law Tribunal (NCLT) has ordered corporate insolvency resolution process (CIRP) for IDEB Projects for defaulting on loans.   Bengaluru based/headquartered IDEB Projects is into offering engineering construction services in the areas of road projects, bridges, buildings, steel plants and treatment plants, apart from building metro rail projects. IDEB is also …

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UP RERA issues show cause notices to Ansal API

Noida (UP), Apr 1 The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on April 1, 2018 has stated that it has issued show cause notices to Ansal Properties and Infrastructure over allegations pertaining to fraud and diversion of funds.   In October 2018, the authority had ordered forensic audit …

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Supreme Court Upholds Creditors Committee Sovereignty Under The IBC

The Supreme Court in its recent judgment has categorically held that the commercial know how of the Committee of Creditors (CoC) is unimpeachable and not subject to judicial review. The bench consisting of Justices AM Khanwilkar and Ajay Rastogi, while hearing appeals in two cases wherein liquidation orders were passed under the Insolvency …

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Union Cabinet Approves Amendments To Make Aadhaar Card Optional For Mobile Connections, Banking

New Delhi, December 18: The Union Cabinet headed by Prime Minister Narendra Modi has approved the amendment to the two existing laws pertaining to the use of Aadhaar card by private entities. It has advocated amendments to the Telegraph Act and the Prevention of Money Laundering Act to give legal backing for …

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SC stalls Sale Of Fortis To IHH Over Daiichi’s Plea

New Delhi, December 15: IHH Healthcare Berhad, a Malaysian-Singaporean private healthcare group, which had earlier this year won the bidding war for India’s second-largest hospital chain, fortis, will have to wait now. A three-judge bench headed by Justice Ranjan Gogoi maintained a Status Quo on the sale of Fortis Healthcare …

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