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Supreme Court Quarterly Digest On Insolvency And Bankruptcy Code [Jan – Mar, 2023]
Constitution of India, 1950; Article 142 - Insolvency of Reliance Home Finance Ltd (RHFL) - the Supreme Court allowed the Resolution Plan (RP) proposed by Authum Investments and Infrastructure Ltd. (AIIL) to cover the debenture holders of RHFL - the plan will not cover dissenting debenture holders - the dissenting debenture holders should be provided an option to accept the terms of...
Delhi Govt vs Centre | Central Government Issues Ordinance Providing LG Powers Over "Services" In GNCTD
Just a few days after the Supreme Court's judgement holding that the National Capital Territory of Delhi has legislative and executive power over administrative services in the National Capital, excluding matters relating to public order, police and land, the Central Government has issued an ordinance to constitute ‘National Capital Civil Services Authority’ in Delhi. As per the...
Sameer Wankhede Cites Alleged Chats With Shahrukh Khan To Counter CBI's Extortion Allegations In Cruise Ship Case, Says Khan Praised His Integrity
Former NCB officer Sameer Wankhede has cited before the Bombay High Court his alleged chats with actor Shah Rukh Khan after Aryan Khan’s arrest in the Cordelia Cruise Ship Case, to counter the allegation of extortion against him in CBI's FIR.“Mr. Shahrukh Khan has, vide his messages, clearly portrayed that he has no grievances against the Petitioner (Wankhede) and has only requested to...
'Judges Are Not Employees Of State, District Judiciary's Independence Part Of Basic Structure' : Supreme Court
The Supreme Court today pronounced its judgement in the All India Judges Association v. Union of India matter, which was pertaining to pay hike of judicial officers as per the recommendations of the Second National Judicial Pay Commission (SNJPC). Through its judgement, which was authored by Justice PS Narasimha, the court examined and accepted various recommendations of the SNJPC on...
Independence Of Supreme Court Important, Not Difficult For A Democracy With Constitution To Slip Into Chaos : Justice KM Joseph
Outgoing Supreme Court judge Justice KM Joseph speaking at the farewell function organised by the Supreme Court Bar Association said that “the judges of the Supreme Court are the most overworked judges in the world. It is a tremendous job and without the assistance of the bar, judges will not be able to do what they are doing.”Justice Joseph also spoke on the importance of the independence...
Adani-Hindenburg Report | Prima Facie ‘No Regulatory Failure,’ Says Supreme Court Expert Committee About SEBI Probe
In a significant development in the Adani-Hindenburg controversy, the Expert Committee constituted by the Supreme Court said it cannot, as of now, arrive at a finding of "regulatory failure" of SEBI in dealing with the alleged contravention of securities law by the Adani Group or any other companies.The Committee was constituted to provide an overall assessment of the situation as well...
District Judiciary Should Not Be Called 'Subordinate Judiciary' : Supreme Court
In today's judgement concerning enhanced pay scale for judicial officers as per the Second National Judicial Pay Commission (SNJPC), the Supreme Court, while highlighting the importance of district judiciary, remarked that the Supreme Court shall no longer refer to the District Judiciary as ‘subordinate judiciary’. The judgement in this case All India Judges Association vs Union of India...
Perception That A Judge Is Independent Only If Judgments Are Passed Against Govt Is Wrong : Justice Ajay Rastogi
Outgoing Supreme Court judge Justice Ajay Rastogi, in his farewell address, said that it is a wrong tendency to describe a judge as "independent" only if the judge passes orders against the government."If someone wants to say I am an independent judge or an unbiased judge, because I decide the matter anti-establishment, gave opinion against the government.. I say NO. We are supposed to...
BREAKING | RBI Will Withdraw ₹2000 Notes From Circulation But They Will Continue As Legal Tender
The Reserve Bank of India today announced that it will withdraw ₹2000 notes from circulation. However, the currency will continue as Legal Tender.As per RBI, this denomination is not commonly used for transactions.People may deposit ₹2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch, RBI said."In order to ensure...
Thief Can't Be Assessed As 'Owner' Of Stolen Property Under Section 69A Income Tax Act : Supreme Court
The Supreme Court has ruled that a thief cannot be recognised as the owner of the property within the meaning of Section 69A of the Income Tax Act, 1961. The top court observed that for Section 69A of the Income Tax Act to apply, it is indispensable that the Assessing Officer must find that the articles/ goods enumerated and covered under Section 69A, are owned by the assessee.Section 69A of...
'Governor Cannot Stultify A Government Like This': Supreme Court Rebukes Delhi LG For Delaying Appointment Of DERC Chairperson
The Supreme Court on Friday came down heavily on the Lieutenant Governor of Delhi for sitting over the proposal made by the Delhi Government for the appointment of the Chairperson of the Delhi Electricity Regulatory Commission for over five months.Aggrieved by the delay on the part of the LG in approving the proposal to appoint retired MP High Court Judge, Justice Rajeev Kumar Shrivastava as...
Judicial Officers' Pension : Supreme Court Lays Down Time Line For Disbursal Of Arrears By States/UTs
The Supreme Court, pronouncing its judgement in All India Judges Association v. Union of India matter (concerning pay hike for judicial officers), provided a timeline for the Center and the States to pay retired judicial officers pension as per the enhanced pay scale as recommended by the Second National Judicial Pay Commission. The judgement was pronounced by a bench comprising Chief Justice...