On Tuesday(12th March), SEBI has directed Vedanta to pay Rs.77.6 crore plus 18% interest to Cairn UK Holdings Limited for delayed dividend payments spanning from January 22, 2014, to June 20, 2017. The directive resulted from a complex legal and financial dispute, signaling SEBI’s commitment to enforcing corporate governance and financial fairness. The order also has significant implications for Vedanta’s corporate governance, including a temporary ban on the company’s Vice-Chairman and other executive directors from accessing the securities market.
On 6th March: The Delhi High Court has issued a restraining order against Reliance Infrastructure, preventing the sale of $135 million worth of assets amidst a legal battle with Shanghai Electric regarding the Sasan Power Project. The court’s decision aims to retain these assets as security amid an arbitration conflict. This comes despite objections from Reliance Infrastructure, which were dismissed by the court.
Cine1 Studios and T-Series have settled their legal dispute over the movie “Animal,” allowing its release on OTT platforms. The agreement, confirmed in Delhi High Court, resolves allegations of contractual breaches and clears the way for the film’s digital premiere. The settlement marks a significant development in the much-anticipated release of “Animal” starring Ranbir Kapoor.
