The Madras High Court ruled that candidates who fail to secure qualifying marks cannot challenge a transparent recruitment process or demand filling of vacancies, dismissing an ex-serviceman’s plea against the RBI security guards selection in Chennai.
Today, On 22nd January, The Supreme Court referred pleas by the RBI and others concerning the write-off of Yes Bank’s Additional Tier-1 (AT-1) bonds to a different bench. AT-1 bonds are perpetual, high-risk instruments issued by banks to bolster their capital base, offering higher interest rates. The Reserve Bank of India has the authority to cancel these bonds in cases where the issuing bank faces financial distress.
The Bar Council of India (BCI) approached the Supreme Court for permission to increase enrolment fees, saying it is facing a financial crisis. In July 2024, the Supreme Court ruled that State Bar Councils and the BCI cannot charge fees above the limit set by the Advocates Act. The BCI claims that the current fee limit is making it difficult for them to work properly. They have requested higher fees to improve their financial situation.
Today(26th Sept),The Delhi High Court stated that it lacks the resources and expertise to create a uniform banking code for foreign exchange transactions aimed at curbing black money and benami dealings. It directed that the petition be treated as a representation to the Ministry of Finance, which will consult with the Ministry of Home Affairs and the Reserve Bank of India.
Today, On 20th August, The Supreme Court requested a status report from CBI on alleged defaced currency exchange at RBI by separatists, emphasizing the sensitivity of the issue. A PIL filed by Satish Bhardwaj claimed Rs.30 crore worth of defaced currency exchanged. The Court instructed the Solicitor General to closely examine the matter and scheduled further hearings to monitor the investigation’s progress.
![[FEMA Case] SC Rejects NDTV's Plea Against Bombay HC Decision](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/08/image-52-1.png?resize=447%2C367&ssl=1)
Today, On 12th August, The Supreme Court dismissed NDTV’s appeal against a Bombay High Court ruling in a FEMA case, involving compounding applications. NDTV sought to quash compounding proceedings under FEMA, but the court upheld the High Court’s decision. The case concerned alleged violations of foreign exchange regulations by NDTV, related to overseas and foreign direct investment.
![[Masala Bonds Case] "Why only Kerala being probed by ED?": KIIFB to Kerala HC](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/07/image-46.png?resize=447%2C350&ssl=1)
Today, On 4th July, The Kerala Infrastructure Investment Fund Board (KIIFB) challenged the Enforcement Directorate’s (ED) investigation into the Masala Bonds case, arguing that the Reserve Bank of India (RBI) has sole authority over such matters. The case revolves around allegations of FEMA violations, with KIIFB and former State Finance Minister Thomas Isaac contesting summonses issued by the ED. The legal battle continues.
Today(on 15th March),, Justice Prathiba M. Singh of the Delhi High Court ordered Ashneer Grover to remove recent allegations against BharatPe and its chairman, Rajnish Kumar. The court also directed The Economic Times to retract articles about Grover’s letters to the RBI. Grover was fined Rs. 2 lakh for disobeying the court’s order and using inappropriate language on social media.