Two accused firms received Rs 742.58 cr proceeds of crime: ED

Posted On & filed under Corporate Law News, Tax Law News, Top Law News.

The Enforcement Directorate today told the special 2G court that there were money transactions which allegedly showed that Sun Direct TV Pvt Ltd (SDTPL) and South Asia FM Ltd (SAFL) received Rs 742.58 crore as “proceeds of crime” from Mauritius-based firms in Aircel-Maxis deal related money laundering case. The court has fixed February 20 when… Read more »

SC restores possession of mine to Rajasthan government from UltraTech

Posted On & filed under Corporate Law News, Court, Judiciary & Legal System, Top Law News.

The Supreme Court has held that the Rajasthan government will take back possession of a mine from Gotan Limestone Khanji Udyog Pvt Ltd (GLKUPL), which was transferred to cement major Ultra Tech, saying that competent authority was “misled” by concealing the real transaction. The apex court set aside the order of the Rajasthan High Court… Read more »

SC stays levy of penalty on sales tax by Tata Sons

Posted On & filed under Corporate Law News, Top Law News.

The Supreme Court today restrained Maharashtra government from imposing penalty on the sales tax levied on Tata Sons Ltd over the use of the TATA brand name by its subsidiaries. A bench of Chief Justice H L Dattu and Justice Amitava Roy stayed the levy of penalty on the sales tax after senior advocate Harish Salve,… Read more »

HC allows Chinese consortium plea against BHEL’s tender

Posted On & filed under Corporate Law News, Top Law News.

The Madras High Court today allowed an appeal by a Chinese consortium against evaluation of tenders for Ennore super critical thermal power project by Tamil Nadu government-owned power utility TANGEDCO and subsequent award of the contract to public sector BHEL. The court set aside the April 7 order of a single judge dismissing the consortium’s… Read more »

Lingaraj trust land not for sale-purchase: HC

Posted On & filed under Corporate Law News, Top Law News.

In a significant judgment, the Odisha High Court on Monday ordered that an area of 2.865 acres that belongs to the Lord Lingaraj temple trust near the Bhubaneswar airport and which was subsequently vested on the State Government shall be recorded back in the temple trust as the land is not tenable for any sale… Read more »

DoT seeks time to file reply on Loop Telecom’s plea

Posted On & filed under Corporate Law News.

Department of Telecommunication (DoT) today sought six weeks from a special court to file its response on a plea by Loop Telecom Ltd, facing trial in a case relating to the probe into the 2G spectrum allocation scam, for referring the matter to the Lok Adalat. A DoT official, who appeared in the court, told… Read more »

Ex power secy’s wife summoned for not declaring money abroad

Posted On & filed under Corporate Law News, Criminal Law News.

Former Delhi Power Secretary RK Verma’s wife has been summoned as an accused by a court here for allegedly not declaring money stashed in an undisclosed company in the United Kingdom’s British Virgin Islands. Additional Chief Metropolitan Magistrate Devender Kumar Sharma took cognizance on the complaint filed by the Income Tax Department and issued summons… Read more »