The CBI will investigate allegations of bribery involving lawyers seeking a favourable NCLT order. A firm’s director filed a complaint against Mahi Bhat and Akshat Ketan, the proprietor of AU Corporate Advisory and Legal Services. They allegedly demanded a bribe in exchange for securing a favorable ruling. The case is now under CBI scrutiny.
The Bombay High Court imposed fine on a litigant Rs.5 lakh for challenging the law that gives immunity to judges. The Court said her claims against two NCLT members were false and not supported by evidence. It also found no good reason to consider her petition. The fine was imposed for misusing the legal process.
On November 7, the Supreme Court will rule on the five-year Jet Airways ownership dispute between Jalan Kalrock Consortium and creditors led by SBI. JKC claims ownership while creditors request liquidation. Chief Justice DY Chandrachud will deliver the decision before his retirement on November 10, indicating potential impacts on India’s aviation sector.
Today, On 22nd October, the Supreme Court of India permitted the government-appointed board of Unitech Ltd to seek police assistance for managing disturbances from third parties on the company’s properties. The board was also authorized to address grievances with government authorities, ensuring they can oversee the company’s affairs and complete pending housing projects for distressed homebuyers.
US lenders filed involuntary Chapter 11 cases against Byju’s subsidiaries Neuron Fuel Inc., Epic! Creations Inc., and Tangible Play Inc. accusing misappropriation of funds. Byju’s founder is accused of breaching debt agreements. Byju’s US lenders also sought to prevent the company from pledging, selling, or transferring its shares. Byju’s intends to contest the case.
On 26th February, an investor group has filed a complaint with the National Company Law Tribunal (NCLT) in Bengaluru against Byju’s, the edu-tech start-up, alleging mismanagement within the company. Bengaluru, Karnataka: On February 26th, Investor Group filed a complaint with the National Company Law Tribunal (NCLT) in Bengaluru against the edu-tech start-up Byju’s, citing allegations […]
