ECONOMY & NATION


Moneylife Digital Team 21 January 2022
In a significant judgement, the Supreme Court has held that inherited property of a female Hindu dying issueless and intestate will either go to the heirs of her parents or husband.    In an order, a division bench of justice S Abdul Nazeer and justice Krishna Murari says if a female...

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Moneylife Digital Team 20 January 2022
The Delhi High Court (HC) has asked the income-tax (I-T) department to refund within four weeks Rs72 crore to Tata Teleservices Ltd.    In an order issued on 17 January 2022, the division bench of justice Manmohan and justice Navin Chawla says, "Prima facie, it appears that there is...

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Moneylife Digital Team 20 January 2022
Shares of PTC India Financial Services Ltd fell nearly 19% in morning trade on Thursday following the resignation of three independent directors (IDs) over severe governance lapses and compliance in the State-run company, especially by its managing director (MD) and chief executive officer...

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The Supreme Court on Thursday allowed the Central government to provide 27 per cent reservation for OBC and 10 per cent to economically weaker sections (EWS) in All India quota (AIQ) seats in medical courses, saying that reservation is not at odds with the merit, rather furthers its...

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Urvi Mahajani (Free Press Journal) 20 January 2022
The Serious Fraud Investigation Office (SFIO) has contended before the Bombay High Court that a trial court can pass an order extending remand of an accused in the absence of cognisance of the charge sheet.   The argument was made by Hiten Venegaonkar, counsel for the SFIO, while...

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Moneylife Digital Team 19 January 2022
Ashneer Grover, co-founder and managing director (MD) of BharatPe, has decided to go on leave till March-end. Mr Grover's decision to take voluntary leave came after he allegedly used inappropriate language against an employee of Kotak group and his ongoing tussle with Kotak Mahindra...

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Moneylife Digital Team 19 January 2022
Despite a winding-up order by the Supreme Court (SC), shareholders of Devas Multimedia Pvt Ltd say they will continue the pursuit of Indian assets across the globe and will not be deterred by the Indian government’s attempts to obstruct justice.   In a statement, Matthew D McGill,...

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Moneylife Digital Team 19 January 2022
Reliance Jio Infocomm Ltd (Jio) says it has paid Rs30,791 crore, including accrued interest, to the department of telecom (DoT) towards prepayment of the total deferred liabilities related to spectrum acquired in auctions of 2014, 2015, 2016 and the spectrum obtained in 2021 through trading...

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Moneylife Digital Team 19 January 2022
After the Calcutta High Court quashed 1,083 reassessment notices and dismissed the income-tax (I-T) department contentions, the government has taken the matter to the Supreme Court. The I-T department has challenged an order passed by the Allahabad High Court in October 2021. This is despite...

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The Leaflet 19 January 2022
Justice DY Chandrachud of the Supreme Court called for a healthy balance between the use of technology and human intervention to enhance the experience of the justice delivery system. He said while technology is the facilitator of change, it is the human mind alone that will remain its...

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Renewed restrictions on operating hours of malls, non-essential stores and curtailment of mobility amid the third Covid wave is expected to shave-off 8 per cent of fashion retailer's revenues in FY22.   According to ratings agency ICRA, these retailers are expected to reclaim upto...

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The Supreme Court on Tuesday sought a response from the Centre, asking why only 19 women candidates will be admitted in the National Defence Academy (NDA) out of 400 seats in 2023.   A bench comprising Justices Sanjay Kishan Kaul and M.M. Sundresh told Additional Solicitor General...

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Moneylife Digital Team 18 January 2022
Nineteen months after the announcement by none other than the prime minister’s office (PMO), ministries and departments under the Union government do not have any answer about receiving any funding from the PM’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund. In May...

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Moneylife Digital Team 18 January 2022
New COVID-19 cases in Mumbai seem to be stabilising, but in other districts like Bengaluru and Pune, cases are increasing during the current third wave, with higher daily new numbers.   If other districts also implement strict measures and control the spread, then the national peak...

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The Supreme Court on Monday upheld the National Company Law Appellate Tribunal order, passed in September last year, directing for winding up of Devas Multimedia, which made it a first case of winding up a company on ground of fraud.   A bench of Justices Hemant Gupta and V....

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The Supreme Court on Monday told Supertech to execute the agreement with a building demolition firm, finalised by Noida, within a week, to pull down its two 40-storey towers.   In August last year, the top court had ordered the demolition of Supertech twin towers in...

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Moneylife Digital Team 17 January 2022
While 84% of households in the country suffered a decline in their income in a year marked by the tremendous loss of life and livelihoods, the number of Indian billionaires grew to 142 from 102, shows the latest briefing ‘Inequality Kills’ by Oxfam India. “More than 4.6 crore Indians...

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In a setback to Devas Multimedia, the Supreme Court on Monday upheld the National Company Law Appellate Tribunal (NCLAT), which in September last year dismissed a petition filed by Devas Multimedia against the order of the national company law tribunal (NCLT) to wind up the...

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The Enforcement Directorate (ED) on Saturday said that they have attached properties worth Rs 380 crore of a company belonging to Sachin Joshi under Prevention of Money Laundering Act (PMLA).   The ED said that they attached two properties out of which one is in Worli and second is in...

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Sucheta Dalal Sucheta Dalal 15 January 2022
Last week, I wrote about how the government’s refusal to listen to stakeholders often led to serious embarrassment to itself. Two developments this week hold out hope that the government maybe beginning to listen, instead of being guided by selective data and wrong advice from its...

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