Anil Ambani has filed a defamation case in a Delhi court against Cobrapost and The Economic Times for reports alleging a Rs 41,000 crore fraud by his Reliance Group. The case will be heard next on November 17.
The Supreme Court of India has accepted the appeal by BYJU’S promoters against the NCLAT’s refusal to withdraw insolvency proceedings linked to a Rs. 158 crore settlement with BCCI. Notices have been issued to relevant parties, with the next hearing scheduled for July 21, where interim relief may be considered.
The Delhi High Court has annulled an arbitral award against Oravel Stays (OYO) in a dispute with Zostel over a 2015 acquisition deal. The ruling highlights the necessity for formal agreements in business transactions, emphasizing that non-binding term sheets may not ensure enforceability in legal proceedings. Final order details are pending.
The Supreme Court of India annulled JSW Steel’s ₹19,700 crore resolution plan for Bhushan Power and Steel, declaring it illegal due to violation of Insolvency and Bankruptcy Code norms. The court ordered BPSL’s liquidation, emphasizing that delays and non-compliance undermine the IBC’s objectives, despite previous approvals by NCLT and NCLAT.