Reliance Power said it has been awarded damages of $56 Million, or about Rs 390 cr, by an arbitration panel in Singapore in relation to the acquisition of three mines in Indonesia. Reliance Power, an Anil Ambani Group company, had signed an agreement with Indonesia’s Sugico Group eight years ago to acquire three coal mines. […]
Finance Minister Arun Jaitley is unlikely to withdraw the defamation case filed against Aam Aadmi Party Supremo Arvind Kejriwal, according to sources. Instead, the legal team of Arun Jaitley, himself a lawyer, will mention the matter before the Chief Justice of the Delhi High Court today. Jaitley wants a legal settlement in which the allegations […]
Taking the fight up a notch, Star India, the biggest television broadcaster in the country, has threatened to disconnect all its 56 channels currently aired by Airtel Digital, India’s second-biggest DTH network. “Dear Airtel Digital customer, your favorite channel.. along with all 56 channels in Star India bouquet is likely to be disconnected on Airtel […]
Jet Airways said it will challenge the order of the Competition Commission of India to impose a fine of Rs 39.81 cr for allegedly colluding with its rivals to fix air fares. In a statement on Wednesday, the Competition Commission said Jet Airways, SpiceJet and IndiGo engaged in “concerted action in fixing and revising Fuel […]
The Delhi High Court has upheld the award of a Rs 5,060 cr compensation by the Delhi Metro Rail Corporation for circumstances leading to cancellation of Reliance Infra’s airport metro service. The compensation was originally awarded by an arbitration panel last year. Along with interest, said the Anil Ambani company, the total amount will coem […]
Within hours of getting an arbitration notice from Reliance Infrastructure seeking damages of Rs 5,440 cr, SKIL Infrastructure has counter sued the Anil Ambani Group firm for a higher amount. The infrastructure company, the former promoter of Pipavav Defence, also denied the charges made by Reliance Infrastructure on Monday. In a statement, Reliance Infrastructure had […]
Anil Ambani Group’s Reliance Infrastructure Limited said it won an arbitration award of Rs 292 crore against Government of Goa. The Arbitration Tribunal, in its award on February 16, 2018, ordered Government of Goa to pay Rs 292 crore to Reliance Infrastructure Limited by April 15, 2018, it said. “The need for arbitration arose due […]
Majesco, the India-based provider of IT solutions to the insurance industry, said its subsidiary has been sued by a customer in the US for $10 mln (Rs 64 cr). In a filing on Sunday, Jan 28, the company said that on Jan 24, its subsidiary Majesco Software and Solutions Inc received a summons with notice […]
Bharti Airtel today said it has not violated any norms set down by the UID Authority of India for the use of Aadhaar verification. Responding to a notice from the stock exchanges, the company confirmed having received notices from the UID Authority on alleged violations of norms. “We confirm that the company is dealing with […]
Pharma major Dr Reddy’s Laboratories said it has been served with a class action lawsuit, originally announced in August, related to public disclosures made about regulatory action against the company. “Further to our intimation dated August 28, 2017 with regard to US Securities Class Action Lawsuit, we would like to inform you that the US […]
Anil Ambani Group’s Reliance Communication said it has sent ‘cease and desist’ notices to its rivals trying to win over its enterprise customers by creating fear about the company shutting down. The development comes in the wake of announcements by the company that it was gradually shutting down its GSM and 3G network to focus […]
HCL Infosystems, the India-focused IT arm of HCL Group, said it received a tax demand of Rs 312.34 cr plus interest and an amount equal to the interest amount as penalty. The company, which is already struggling with losses, did not specify the amount of interest involved or the year to which the dues relate. […]
Life Insurance Corporation of India, the single biggest shareholder in many listed companies in India, has withdrawn its insolvency case against DB Realty Ltd, the real estate developer said. The two companies have executed a debt settlement agreement on Oct 16, DB Realty said. With this, the case against the developer has been withdrawn and […]
Pharma giant Dr Reddy’s Labs today said that a class action lawsuit has been filed against it on behalf of shareholders, alleging that the company misled investors causing them to lose money on their investments. “The lawsuit alleges that the company made materially false and/or misleading statements or omissions in connection with its corporate quality […]
Estranged Aam Aadmi Party leader Kapil Mishra said he will file a police complaint against Arvind Kejriwal today. The rebel AAP leader has accused the party supremo of taking bribes and acting like a dictator within the party. “It is with a heavy heart that I am doing this,” Mishra said, while reading from a […]
The Supreme Court has dismissed a curative petition filed by the Kerala Government against its decision finding the main accused not guilty in the prominent Saumya rape and murder case of Kerala. The case, analogous to the Nirbhaya episode of Delhi, had shocked the state. The incident happened in 2011, when 23-year-old Soumya was travelling in […]
Nokia has filed further complaints alleging that Apple products infringe a number of Nokia patents, expanding its litigation originally announced on December 21. Across actions in 11 countries, there are now 40 patents in suit, which cover technologies such as display, user interface, software, antenna, chipsets and video coding, the company said. Cases have now […]
Welspun said it believed that two complaints against the company for allegedly using non-Egyptian cotton may or may not be allowed to proceed as class action lawsuits, and are therefore not yet ‘material’. The company was responding to a question by the stock exchanges of India on media reports that alleged that millions of dollars […]
IT provider Wipro Ltd said Indian government’s Employees’ State Insurance Corporation has withheld payments due to it after the completion of a project, and it will take legal action to recover the amount. The seven-year contract, named Project Panchdeep, was completed on June 08, 2016, and Wipro provided an additional three months of support. “Wipro […]
ACC Ltd and Ambuja Cements said they will challenge the fine imposed by the Competition Commission of India yesterday, and that a similar order passed by the CCI four years ago had been set aside by the Competition Appellate Tribunal in December last year. “We await receipt of a certified copy of the CCI Order. The […]
