Bankruptcy proceedings against Monnet Ispat, Alok Industries get NCLT nod
Bankruptcy proceedings against Monnet Ispat and Energy Ltd and Alok Industries Ltd were approved by different benches of the National Company Law Tribunal (NCLT) on Tuesday. They become the second and third among the big 12 firms identified for early bankruptcy proceedings by the Reserve Bank of India (RBI) where the process has gone into the second stage. Jyoti Structures was the first.
Is privacy a fundamental right? Supreme Court to decide today
A nine-judge Supreme Court bench will decide whether Indian citizens have the right to privacy under the Constitution—a question that cropped up in the context of legal challenges to Aadhaar unique identity number. The Constitution bench will assemble on Wednesday to address this limited question: is privacy as a right enshrined in the Constitution of India?
ONGC-HPCL merger on Cabinet agenda today
The proposed merger of Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum Corporation (HPCL) is on the agenda of the Union Cabinet meeting on Wednesday. The government is likely to give the control of HPCL to ONGC. “The ONGC-HPCL proposal could be taken up by the Cabinet,” a senior government official said. Petroleum Minister Dharmendra Pradhan has twice given public statements that the merger of ONGC and HPCL would be completed in the current financial year.
Real estate developers can’t force homebuyers to go for arbitration: NCDRC
The National Consumer Disputes Redressal Commission (NCDRC) has provided relief to home buyers who cannot pursue cases against developers due to a conflict in the law concerned. According to lawyers, many cases were pending in different consumer forums because developers had included a clause that disputes between two parties would be first settled though a private resolution mechanism, also known as arbitration.
World Bank to draw up plan for Railways’ Rs 5 lakh crore makeover
The World Bank will help draw up a granular makeover blueprint for the Indian Railways, which is investing Rs 5 lakh crore in transforming itself from a colonial-era mass transporter into a strategic platform underpinning growth in Asia’s third-biggest economy. The multilateral lending agency would partner the 164-year-old railroad network, the world’s fourth longest, to help the state transporter with investment and planning, digitization and technology development, besides establishing a Railway University and the Rail Tariff Authority.
Ravi Shastri salary as Team India coach fixed at whopping Rs 8 cr per annum
The Board of Control for Cricket in India (BCCI) will pay its new chief coach Ravi Shastri salary of as much as Rs 8 crore per annum, PTI said. The top officials of the board took the decision unanimously on Shastri’s perks, which is more than what the previous coach Anil Kumble was being paid – his salary was Rs 6.5 crore. In fact, Ravi Shastri’s salary would be exactly to the tune of what Anil Kumble’s demand for increment was, said the agency. Apart from Ravi Shastri, the board is also expected to offer other coaches Bharat Arun, R Sridhar and Sanjay Bangar between Rs 2-3 crore.
Apple iPhone 8 September launch could be delayed to October due to OLED production: Report
Apple’s next-generation iPhone (OLED version) or iPhone 8 could get launched in October instead of September. According to a note by Morgan Stanley analyst Katy Huberty, the push could lead to weaker sales for Apple in its September quarter, though the company could see big December and March quarters thanks to a higher expected price-tag for iPhone 8. This means that iPhone supercycle of sales will most likely be pushed to 2018, believes Huberty. Previous reports have hinted a $1000 price-tag for the new iPhone.
About the Author
