SEBI tightens noose around Sahara Group chief

Posted On & filed under Corporate Law News.

SEBI moved to the Supreme Court for the house arrest of Sahara Group Chairman Subroto Roy for not refunding of Rs 24,000 crore money belonging to investors in his companies. It has been also asked by the Securities and Exchange Board of India (SEBI), in its application, to impound the passport of Roy and two other… Read more »

Court reserves order on plea against Mittal in telecom case

Posted On & filed under Corporate Law News.

Today here in Delhi a court reserved the orders on taking cognizance of a complaint by an NGO accusing the CBI of “hiding” facts allegedly showing involvement of Bharti Airtel Chairman Sunil Mittal in the case of additional spectrum allocation during the NDA regime. Special CBI Judge O P Saini, who is trying the 2G spectrum… Read more »

SEBI moves SC for arrest of Sahara chief Subrata Roy

Posted On & filed under Corporate Law News.

Securities regulator is seeking court approval to arrest the head of the Sahara conglomerate, which it accuses of failing to comply with an order to repay billions of dollars collected from investors in outlawed bonds, according to a court document and a lawyer present at a Friday court hearing. The Supreme Court is likely to… Read more »

Telecom scam:CBI chided for not naming firms’ execs

Posted On & filed under Corporate Law News.

Delhi High court has grilled the CBI for only “blaming” government servants and not naming any company officials in connection with the charge sheet against Airtel, Vodafone and others for alleged irregularities in the allocation of additional spectrum to them during the NDA regime “In a conspiracy, there must be two parties. You (CBI)are blaming only the… Read more »

Zee Editors plea for court-monitored probe rejected

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

The plea of two Zee Group editors for a court-monitored probe in the extortion case lodged against them by Congress MP Naveen Jindal has been rejected by a Delhi court which said they cannot be allowed to “dictate” and “divert” the course of investigation. “I am of the considered opinion that there is no requirement for preservation of call details. Moreover,… Read more »

SC declines to hear plea by Sahara Group companies

Posted On & filed under Corporate Law News.

The last hope of Sahara group to get more time to refund Rs 24,000 crore to its investors was dashed in the Supreme Court which dismissed its plea and pulled it up for not complying court’s earlier order to return the money by first week of February. A bench headed by Chief Justice Altamas Kabir, which had earlier… Read more »

CBI witness identifies Anil Ambani’s signature in 2G case

Posted On & filed under Corporate Law News.

On Monday in the 2G spectrum allocation scam a CBI witness, deposing before a special CBI court identified the signature of Reliance ADAG chairman Anil Ambani on the documents attached to the account opening form of AAA Consultancy Services Co. (P) Ltd, allegedly an “associate” firm of Reliance ADAG. Deposing as a CBI witness, Hasit Shukla, President of Reliance Communications (P) Limited,… Read more »

Plea for stay on extension of AI flight duty time rejected: HC

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The Delhi High Court has refused to stay Civil Aviation Minister Ajit Singh’s order to extend the flight duty time limitation (FDTL) of Air India pilots and cabin crew, saying it was their duty to enable Air India to “pull through” the “financial crisis.” “Since the respondent Airlines is going through a crucial financial crisis,… Read more »

Battle over Gayatri Devi’s shares: SC issues notices

Posted On & filed under Corporate Law News.

Notices has been issued by the Supreme Court of India on two petitions filed against a Delhi high court verdict allowing transfer of some shares of late Maharani Gayatri Devi to her grandchildren Devraj and Lalitya Kumari. The HC, while reversing a Company Law Board ( CLB) order, had ordered rectification of share register of Jai Mahal… Read more »