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NCLAT Seeks Resolution of IL&FS Cases in 90 Days - 13.03.2020

National Company Law Appellate Tribunal has approved the resolution framework for Infrastructure Leasing & Financial Services Limited (IL&FS) Group and sought the conclusion of resolution of all the entities within 90 days while clearing the formula for distribution of the sale proceeds to clear liabilities that add up to Rs 91,000 Crore.

Tags : National Company Law Appellate Tribunal IL&FS Cases

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NCLAT Rejects Government Plea to Remove Board of 63 Moons Technologies - 13.03.2020

National Company Law Appellate Tribunal has set aside the Government’s plea to supersede the board of 63 Moons Technologies. The Tribunal further upheld the order passed by National Company Law Tribunal, Chennai to appoint 3 Government nominees on the board.

Tags : National Company Law Appellate Tribunal 63 Moon Technologies

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NCLAT Sets Aside CAIT’s Plea Against Flipkart-Walmart Deal - 13.03.2020

National Company Law Appellate Tribunal has dismissed a Petition filed by Confederation of All India Traders (CAIT) against the Competition Commission of India nod to Walmart’s acquisition of Flipkart.

Tags : National Company Law Appellate Tribunal Flipkart-Walmart Deal

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Rajya Sabha Approves Insolvency and Bankruptcy Code (Amendment) Bill, 2020 - 13.03.2020

Rajya Sabha has passed amendments to the insolvency law in the Insolvency and Bankruptcy Code (Amendment) Bill, 2020 that will help ring-fence successful bidders of insolvent companies from risk of criminal proceedings for offences committed by previous promoters.

Tags : Parliament Insolvency and Bankruptcy Code (Amendment) Bill 2020

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Madras HC: Electropathy/ Electro Homeopathy System of Medicine Cannot be Allowed to Propel - 13.03.2020

Madras High Court has dismissed a Petition upholding that Electropathy/Electro Homeopathy system of medicine cannot be allowed to propel, as the same is not recognized under any law in India.

Tags : Madras High Court Electropathy Electro Homeopathy

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Delhi High Court Dismisses Plea Seeking to Control Religious Conversions - 13.03.2020

Delhi High Court has dismissed a Public Interest Litigation seeking control on religious conversion through inducement or intimidation stating that it's one's personal choice to follow whatever religion they want.

Tags : Delhi High Court Religious Conversions

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Madras HC Quashes Ban on Placing Hoardings on Land Not Belonging to Municipal Corporations - 13.03.2020

Madras High Court has struck down the ban on placing hoardings on land not belonging to the Municipal Corporations by observing that it does not satisfy the test of rationality or practicality.

Tags : Madras High Court Hoardings on Land Not Belonging to Municipal Corporations

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ITAT, Cochin Denies Tax Exemption to Trust on Micro Finance Activity - 12.03.2020

Income Tax Appellate Tribunal (ITAT), Cochin has held that micro finance activity cannot be treated as charitable in nature for the purpose of allowing tax exemptions to a Trust under the Income Tax Act, 1961.

Tags : Income Tax Appellate Tribunal Micro Finance Activity

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Delhi HC Directs Police to File Periodic Status Reports on Missing Man Involved in Gay Dating App - 12.03.2020

Delhi High Court has directed Delhi Police to submit a status report, at least once every month, before the Trial Court in a case pertaining to a young man involved with a gay dating app who has been missing since January, 2019.

Tags : Delhi High Court Missing Man Gay Dating App

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Telangana High Court Denies Anticipatory Bail for Directors of TEPL - 12.03.2020

Telangana High Court has denied anticipatory bail for directors of Transworld Educare Private Limited (TEPL) for providing taxable services without raising invoices for the services rendered by them to the various service recipients and is not paying appropriate Goods and Services Tax.

Tags : Telangana High Court Anticipatory Bail TEPL

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