The Supreme Court quashed SEBI and SAT orders against Reliance Industries in the Reliance Petroleum trading case, setting aside allegations of fraudulent market practices, directing refund of Rs 250 crore deposited during proceedings and ending the prolonged legal battle arising from 2007 stock market transactions.
The Supreme Court agreed to consider Reliance Industries Limited’s fresh request for conciliation in the Krishna-Godavari Basin gas migration dispute with the Central government, observing that an amicable settlement would be welcomed and the appeal could be disposed of if both sides successfully resolve the matter.
On April 9, Senior Advocate Kapil Sibal was honored for raising over Rs. 43 crore for lawyers’ welfare through CSR initiatives as SCBA President. The funds aim to provide medical insurance and support. Sibal plans to collect Rs. 60 crore for a sustainable insurance scheme, receiving praise and support from the legal community.
OpenAI is currently battling a copyright lawsuit in India, arguing that Indian courts lack jurisdiction due to its US-based operations. This legal challenge comes after similar defenses by Telegram failed in past cases. The case highlights the growing scrutiny of US tech firms’ compliance with local laws in foreign markets. Legal experts suggest the case could still be heard in Indian courts, despite OpenAI’s jurisdiction claim.
The Supreme Court dismissed SEBI’s appeal against the SAT ruling that cleared Mukesh Ambani of penalties for the 2007 Reliance Petroleum stock manipulation case, citing no question of law. However, the Court will hear SEBI’s appeal regarding SAT’s relief to RIL on December 2, 2023. Senior advocates represented both parties.
On Friday( 19th July), Lokpal rejected a complaint against PM Narendra Modi and Rahul Gandhi, citing lack of substantial evidence. The complaint alleged receipt of black money from industrialists Adani and Ambani based on a campaign speech by Modi. The decision emphasized the speech’s speculative nature and lack of concrete evidence, leading to the dismissal of the complaint.
In a pivotal development in the Antilia bomb scare case, the Supreme Court has granted bail to former ‘encounter specialist‘ Pradeep Sharma, who was implicated in both the Antilia bomb scare and the Mansukh Hiran murder cases. The decision was pronounced by a bench consisting of Justices AS Bopanna and PS Narasimha. Justice Bopanna stated […]
