Banks seek review of SC order tagging statutory creditors as 'Secured' ones
​​In its September 6 order, the top court ruled that any insolvency resolution plan, approved by the financial creditors by ignoring the statutory demands payable to state and Central governments or other legal authorities, was liable to be rejected.
SC to RBI: What steps taken to rein in NPAs
The Supreme Court on Wednesday asked the Reserve Bank of India to inform it about the steps the banking regulator could take to implement a high-level committee's recommendations to tackle bad loans.
SC refuses to grant bail to accused in money laundering case related to Yes Bank scam
A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha took note of the submissions of senior advocate Siddharth Dave, appearing for Jain who is in custody since October 5, 2020, and said that at this stage, it was not inclined to grant bail.
Reliance Capital fresh auction raises questions on timelines, sanctity of IBC process
After Binani Cement set precedent, many companies including Bhushan Power & Steel and DHFL have seen higher bids after the winner has emerged, further delaying the process.
RBI tells SC Swamy's claim of involvement of its staff in bank scams fallacious
Seeking dismissal of Swamy's plea, the RBI said the petitioner has no locus standi to file the petition and it is "riddled" with factual and legal inaccuracies.
Currency in circulation rises by 83% since demonetisation in 2016
Demonetisation of the high value currency notes of Rs 500 and Rs 1,000 did not have any discernible impact on currency in circulation (CIC) in the country, which has soared by almost 83 per cent since its announcement on November 8, 2016. The Supreme Court on Monday upheld the decision of the government on demonetisation.
Ex-ICICI bank CEO Chanda Kochhar's arrest a wake-up call for private banks: Experts
Chanda Kochhar and her husband Deepak Kochhar were arrested by the Central Bureau of Investigation (CBI) last week in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. A special court in Mumbai on Saturday remanded both of them to CBI custody until December 26.
Private cryptocurrencies can cause next financial crisis if allowed to grow, warns RBI Governor
3 fresh FIRs filed against Mehul Choksi in over Rs 6,700-Cr fraud case: CBI
Four years after Choksi's dramatic escape and the failure of the state-run PNB to detect the scam between 2010 and 2018, the bank submitted three complaints to the CBI on March 21, reporting the additional loss caused by the diamantaire and his firm Gitanjali Gems Limited, Nakshatra Brands Limited and Gili India Limited.
GST Council to decide on decriminalisation of GST offences, setting up appellate tribunals
The Council has reportedly been given a suggestion - by the law committee - to consider increasing the monetary threshold for launching prosecution for GST offences. Additionally, the committee has also suggested that the fee payable by taxpayer for compounding of GST offences be lowered with a view to improving ease of doing business.
Borrowers don't have to be told individually about change in rates: Consumer court
The national consumer court has ruled that banks are not required to inform each borrower individually about any automatic change in interest rates under the floating rate plan, as borrowers have already agreed to any such increase or decrease while executing loan agreements with lenders.
CBI gets Centre's nod to seek LR for collecting evidence on Nirav Modi's brother-in-law,from Singapore
Letters Rogatory is a document making a request through a foreign court to obtain evidence from a person living under the territorial jurisdiction of the requested court within the ambit of Mutual Legal Assistance Treaty (MLAT) and on the basis of reciprocity if no such treaty exists.
Delhi HC dismisses challenge to restrictions on withdrawal from PMC Bank
"Despite sympathising with the position in which the petitioners find themselves, I am unable to grant the relief sought in this petition. The petition, along with the pending application, is therefore dismissed, but without any orders as to costs," the court said in its order dated November 30.
Nirav Modi seeks permission to appeal extradition in UK top court
Nirav Modi , the 51-year-old diamantaire lost an appeal on mental health grounds earlier this month, when a two-judge High Court bench ruled that his risk of suicide was not such that it would be either unjust or oppressive to extradite him to India to face charges of fraud and money laundering in the estimated USD 2 billion Punjab National Bank (PNB) loan scam case.
SC grants four more weeks to CBI to file reply on Swamy's plea for probe into role of RBI officials in bank scams
The top court had issued notices to the CBI and ED on October 17. Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed.
Demonetisation a 'well-considered' decision to combat black money, terror financing: Centre tells SC
The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion, the Union government has told the Supreme Court. Defending its decision to demonetise currency notes of Rs 500 and Rs 1000 denominations, the Centre told the top court the step was taken after extensive consultation with the Reserve Bank of India and advance preparations were made before the note ban was enforced.
Supreme Court agrees to hear plea on Poll Bond Scheme Amendment
A clutch of petitions, challenging nearly half a dozen provisions of the Finance Act, 2017 that brought in the electoral bonds for anonymous donations to political parties, is already pending adjudication in the top court. ​​The fresh plea, mentioned before a bench headed by Chief Justice of India DY Chandrachud, challenges the notification earlier this month that amended the scheme to provide the additional window. According to the notification, the sale of electoral bonds is allowed from November 9 to November 15.
PNB Case: How quickly can Nirav Modi be extradited to India?
In a big win for India, the fugitive economic offender Nirav Modi lost an appeal of a British court's ruling that he should be extradited from the U.K. to India to face allegations he was involved in a $1.8 billion bank fraud. Two High Court judges upheld a lower court's ruling that the fugitive jeweler has a case to answer before Indian courts and that it would not be "unjust or oppressive" for British authorities to send him to India.