ECONOMY & NATION


With nearly 50% of its A320neo fleet grounded, India's third largest airline Go Airlines (India) Limited on Tuesday approached the National Company Law Tribunal (NCLT) for resolution under Section 10 of the Insolvency Bankruptcy Code (IBC).   The airline said that it has approached...

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The Leaflet 02 May 2023
The Bench, however, made it clear that the grant of divorce on the ground of irretrievable breakdown of marriage is not a matter of right, but a discretion which is to be exercised with great care and caution by courts.   —   In a significant judgment, a five-judge...

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The Enforcement Directorate (ED) has conducted search and seizure operations at three premises of Byju Raveendran and his company Think & Learn Private Limited, which runs the popular online education portal BYJU's, in Bengaluru, under the provisions of the foreign exchange management act...

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Defamation is a powerful tool, used largely by politicians, businesses and celebrities. Litigation is expensive and often drags on to the point of becoming meaningless. So, the law is out of the reach of most others. But defamation cases make for juicy headlines, especially when the founder...

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Last week, Bloomberg reported that India is preparing to overhaul its direct tax laws to help “Prime Minister Narendra Modi reduce widening income inequality.” Already, in the recent Budget, the government decided to tax debt mutual fund schemes at the normal income-tax rate. Now, the...

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Moneylife Digital Team 28 April 2023
The compensation received as rent from a builder due in a redevelopment project cannot be taxable income for the former flat owner, the Mumbai bench of the income-tax appellate tribunal (ITAT) has recently held.   This particular case of Ajay Parasmal Kothari (assessee) was identified...

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Don’t hold your breath, folks! Yes, we are going green, but not just now.   You have heard much talk. The finance minister (FM) announced battery-swapping for electric vehicles. Nitin Gadkari, the Union minister for road transport & highways will make farmers “urja-data, not just...

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The Supreme Court on Friday directed all states and Union Territories (UTs) to register cases against those making hate speeches even if no complaint has been made, while stressing that both judges on the bench are apolitical and "they do not care about party A or party B or party...

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A CBI special court here on Friday acquitted actor Sooraj Pancholi, who was accused of abetment in the suicide of actress Jiah Khan in 2013.   Pancholi, 32, was present in the court along with his parents Aditya Pancholi and Zarina Wahab when Special Judge A.S. Sayyed pronounced the...

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Burda Principal Investments, one of the leading investors in Singapore-based fashion startup Zilingo, has backed the action against its founder and CEO Ankiti Bose, hinting that legal action against the ousted founder may be on the anvil.   Burda Principal Investments (BPI), a...

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Sources close to developments have revealed that after many twists and turns, a Hinduja group company on Wednesday emerged as the highest bidder with an offer of Rs9,650 crore to take over debt-ridden Reliance Capital in the second round of auction.   The bid by IndusInd International...

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Moneylife Digital Team 27 April 2023
Indian non-banking financial institutions’ (NBFIs) upcoming results for the financial year ended March 2023 (FY22-23) are likely to underscore continued appetite for brisk credit growth, says Fitch Ratings.    This, the rating agency says, should be supported by resilient domestic...

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Godrej Consumer Products Ltd will be buying the fast moving consumer goods (FMCG) business of Raymond Consumer Care Ltd for Rs2,825 crore.   The brands that Godrej Consumer would be acquiring from Raymond Consumer are: Park Avenue (for the FMCG category), KS, KamaSutra and Premium,...

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Mumbai actress Chrisann Pereira, who was jailed in Sharjah (UAE) in a 'drugs plant' case, has been released, her family announced via social media late on Wednesday.   Her family posted a video showing them dancing, crying with disbelief, with a relieved but weeping Chrisann on the...

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Amazon has shuttered its health-focused Halo division and discontinued Halo Band, Halo View, and Halo Rise devices which are no longer available on its website. The company has also laid off employees from the Halo team.   The company said in a blog post late on Wednesday that...

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Moneylife Digital Team 26 April 2023
The Supreme Court (SC) has asked registrar generals of all high courts (HCs) to speed up the digitisation of records with promptitude at all district courts, preferably within the time prescribed for filing an appeal.   In an order, the bench of justice Krishna Murari and justice...

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Sudhir Mishra from Bihar's Chhapra has a 'startup' where he 'trains' unemployed youths on how to break ATMs in a span of 15 minutes, said UP Police here.   This was revealed after four youths were arrested for allegedly stealing Rs 39.58 lakh from an ATM in Lucknow's Sushant Golf City...

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Seven women wrestlers have told the Supreme Court that it is crucial that police take all complaints of sexual harassment seriously and register FIRs (first information reports) promptly and not create yet another obstacle by delaying the registration.   However, the attitude of the...

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In an unnerving development, a Mumbai actress has been jailed in the UAE's Sharjah after she was found carrying drugs hidden in an award trophy even as the Mumbai police nabbed a person who had trapped her and two others into becoming 'drug mules'.   Chrisann Pereira's distraught...

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The Supreme Court on Tuesday issued a notice on a plea by the country's seven top wrestlers seeking a direction for the registration of an FIR (first information report) against Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh.   A bench headed by chief justice of...

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