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Legal Era

From Legal Era
Axis Bank Files CIRP Plea Against Rpower Subsidiary
[ By Bobby Anthony ]Reliance Power has stated that one of its lenders Axis Bank has initiated a Corporate Insolvency Resolution Process (CIRP) against its subsidiary Vidarbha Industries Power Ltd for...
India intends to mandate cyber security measures for Power Grids
After the cyber attack on Kudankulam Nuclear Power Plant last year, the nation wants electricity grid operators to install firewalls and other security measures to avert any attacks on their...
No Stay On CAA, NPR, Says Supreme Court
[ By Bobby Anthony ]The Supreme Court has refused to pass any order to restrain the operation of Citizenship (Amendment) Act (CAA) or the National Population Register (NPR).The Supreme Court also gave...
CIRP cannot be used to defeat a claim or a dispute which existed prior to the initiation of the insolvency proceedings: Calcutta HC
[ by Kavita Krishnan ]The petitioner (Corporate Debtor) approached the Calcutta High Court for setting aside of an Arbitration Award passed in 2008 contending that the application under Section 34 of...
SC Okays Nominations Of 7 Directors To New Unitech Board
[ By Bobby Anthony ]The Supreme Court has approved nominations of seven directors on the board of real estate developer Unitech which will be run by a government reconstituted board of directors which...
RBI Cancels Vodafone M-Pesa's Certificate Of Authorization
[ By Bobby Anthony ]The Reserve Bank of India has canceled the Certificate of Authorization (CoA) of Vodafone’s m-pesa payments service after its “voluntary surrender of authorization”.Consequently,...
ED Attaches Fairdeal’s Assets Worth Rs 107.73 Crore
[ By Bobby Anthony ]The Enforcement Directorate (ED) has attached movable and immovable assets worth Rs 107.73 crore of the directors of a company called Fairdeal Supplies Ltd after investigating a...
Law May Be Amended To Benefit Power Companies
[ By Bobby Anthony ]The government plans to amend provisions of Section 115BAB of the Finance Act 2019 in order to extend the benefit of lower corporate tax to companies engaged in the generation of...
Arbitration Tribunal restrains Bidvest from selling stake in Mumbai Airport to Adanis
[ by Kavita Krishnan ]In a major setback to the Adani Group which wanted to buy stake in the Mumbai International Airport Limited (MIAL), an Arbitration Tribunal has restrained South Africa’s Bidvest...
Income Tax Act, PMLA To Be Decriminalized: Sitharaman
[ By Bobby Anthony ]The central government plans to decriminalize the Income Tax Act and the Prevention of Money Laundering Act (PMLA) as part of steps towards restoring business confidence.These are...
Cryptocurrencies Not Banned In India, RBI Tells SC
[ By Bobby Anthony ]The Reserve Bank of India (RBI) stated in an affidavit to the Supreme Court of India that it has not banned cryptocurrencies like Bitcoin.The RBI has claimed that it has merely...
SC Plea Challenges National Commission For Minorities Act
[ By Bobby Anthony ]The Supreme Court has issued a notice in response to a plea challenging the constitutionality of the National Commission for Minorities Act, 1992, and the extension of the...










