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Legal Era

From Legal Era
Huawei Offers To Sign A ‘No Back Door’ Treaty With The Indian Government To Assuage Potential Security Concerns
[ By Bobby Anthony ]Chinese telecom major Huawei Technologies Company Ltd has officially announced that it is willing to sign a “no back door" pact with its customers as well as the Indian government...
Foreign Portfolio Investors Lobby Group Opposes More Inspection Powers For Securities & Exchange Board Of India
[ By Bobby Anthony ]The Asia Securities Industry and Financial Markets Association (ASIFMA) has opposed the H R Khan Committee recommendation which would give capital market regulator Securities and...
Supreme Court Expresses Serious Concern About Bihar Acute Encephalitis Syndrome Deaths; Seeks Government Response
[ By Bobby Anthony ]The Supreme Court has issued a notice to the Bihar government and the centre seeking an explanation on the deaths of more than 120 children in Muzaffarpur due to Acute Encephalitis...
Reserve Of India’s Inspection Report Had Highlighted IFIN’s Stressed Accounts In 2017; SFIO Trying To Collect Documents
[ By Bobby Anthony ]A central bank inspection of the books of IL&FS Financial Services Ltd (IFIN) in 2017 had highlighted 11 stressed accounts, most of which are now being probed by various government...
KPMG Network Firm BSR & Associates Quits As IFIN Auditor Just A Day Before National Company Law Tribunal Hearing
[ By Bobby Anthony ]BSR & Associates has resigned as an auditor of IL&FS Financial Services (IFIN) which is being probed by multiple agencies for alleged financial irregularities.The announcement came...
National Company Law Tribunal Admits Insolvency Petition By Jet Airways’ Top Lender SBI; Appoints Resolution Professional
[ By Bobby Anthony ]The National Company Law Tribunal has admitted an insolvency petition filed by Jet Airways’ top lender State Bank of India (SBI) and approved a resolution professional to oversee...
Enforcement Directorate Tells Court That IL&FS Financial Services Laundered Rs 5,000 Crores Of Shareholder Funds
[ By Bobby Anthony ]A recent Enforcement Directorate remand application submitted to a special court in Mumbai has alleged that IL&FS Financial Services (IFIN), which is a subsidiary of the IL&FS...
Directorate Of Revenue Intelligence Tells The Bombay High Court That Adani Firm Is Trying To Impede Its Investigation
[ By Bobby Anthony ]Adani Enterprises Ltd (AEL) is trying to “impede” a Directorate of Revenue Intelligence (DRI) investigation into a few Adani Group firms, by challenging the “well settled procedure...
Kerala High Court Dismisses Petition Which Claimed That KIIFB Masala Bonds Violated Article 123(1) Of The Constitution
[ By Bobby Anthony ]The Kerala High Court has dismissed a petition which had challenged the constitutional validity of the issue of financial instruments called ‘Masala Bonds’.Masala Bonds are a debt...
SEBI Circular Sets New Rules, Lists Factors Which Could Affect Applicant Claim For Confidentiality During Resolution Process
[ By Bobby Anthony ]A recent circular issued by the Securities & Exchange Board of India (SEBI) has set various grounds on the basis of which applicants could be assured of confidentiality while...
Two Former IL&FS Executives Arrested By Enforcement Directorate Under PMLA For Alleged Money Laundering
[ By Bobby Anthony ]Two former IL&FS top executives, namely Arun Kumar Saha and Karunakaran Ramchand have been arrested by the Enforcement Directorate for their alleged involvement in money laundering...
SEBI Moves SC About Whether Capital Market Regulator Or NCLT Gets To Decide About Fraudulent Investment Schemes
[ By Bobby Anthony ]The Securities and Exchange Board of India (SEBI) has approached the Supreme Court after the capital-markets regulator and the National Company Law Tribunal (NCLT) passed separate...










