Author: Legal Parivar

The Hari Shankar Singhania School of Business (HSB) has unveiled the Women in Product Management Scholarship, designed to empower ambitious women in the technology sector to rise as leaders in their respective fields by offering support for pursuing an MBA with a focus on Product Management at HSB. This scholarship targets women who demonstrate outstanding merit, leadership potential, and a strong commitment to advancing their careers. The third round of applications commenced on March 12, 2024, with a deadline for submissions set for April 29, 2024. Aspiring candidates can access detailed information and the application process through HSB’s official website.…

Tata Steel witnessed a significant rise in its share price, climbing nearly 5% on March 18, driven by substantial trading volumes and numerous large transactions. As of 01:10 pm, Tata Steel stocks were trading at Rs 148.65, marking a 4.90% increase from the previous day’s close. Trading activity saw nearly 10 crore shares of Tata Steel being traded today, more than double the average volume of the previous month. Notably, around 2.3 crore shares were exchanged in sizable transactions. The positive momentum extended to other metal stocks as well, following China’s strong industrial output growth of 7% in January-February, surpassing…

P&G India has announced the appointment of Kumar Venkatasubramanian as CEO, effective May 1, 2024. The current CEO, LV Vaidyanathan, will depart from the company after 28 years of service to pursue other personal interests. Venkatasubramanian has been instrumental in driving P&G India’s growth in various capacities throughout his career. Prior to his role as CEO of P&G Australia, he served as the head of sales for P&G India, as stated by the company. An alumnus of IIM Calcutta, Venkatasubramanian joined P&G’s sales team in India straight out of campus in 2000. With nearly 24 years of experience, a significant…

The Supreme Court, on Monday (March 18), refused to grant bail to Aam Aadmi Party (AAP) leader Satyendar Jain in a money laundering case. Additionally, it revoked the interim bail previously granted to him and instructed Jain to surrender immediately. Jain was apprehended by the Enforcement Directorate (ED) in May 2022 under allegations of money laundering pursuant to the Prevention of Money Laundering Act. He, along with others, faced accusations of laundering funds through three companies between 2010-12 and 2015-16. Presently, Jain is out on interim bail due to medical reasons, sanctioned by the apex court in May last year.…

The Tamil Nadu Government has taken its dispute with Governor RN Ravi to the Supreme Court, following his refusal to reappoint MLA K Ponmudi as a Minister in the State Government. The State filed an interlocutory application within a previous writ petition lodged against the Governor concerning delays in assenting to bills. It seeks a stay on the Governor’s decision made on March 17 to reject Ponmudi’s appointment as a Minister and requests a directive for the Governor to act in accordance with the Chief Minister’s recommendation for Ponmudi’s appointment. Senior Advocates AM Singhvi and P. Wilson brought the matter…

In the latest development concerning the electoral bonds case, the Supreme Court directed the State Bank of India (SBI) on Monday (March 18) to reveal all possible information it holds regarding electoral bonds, including the alphanumeric number corresponding to each bond. The Court emphasized the need for full disclosure, stating that the SBI must provide all details within its custody, including alphanumeric and serial numbers, if available, by Thursday, 5 PM. This move aims to prevent any future disputes, with the Court instructing the bank’s chairperson to submit an affidavit affirming complete disclosure. The Court clarified that its previous judgment…

The Supreme Court on Monday rejected a Miscellaneous Application filed by Adani Power Ltd, which sought payment of Rs. 1376.35 crores as an outstanding Late Payment Surcharge (LPS) from Jaipur Vidyut Vitran Nigam Limited (JVVNL). This decision came after modifying a 2020 judgment. Justices Aniruddha Bose and Sanjay Kumar, the Bench presiding over the case, ruled that filing a miscellaneous application was not the appropriate legal recourse for Adani Power to claim LPS. They emphasized that such demands cannot be made through a miscellaneous application, which was described during the hearing as an application for clarification. The court clarified that…

A Mumbai-based investment consultant, Amber Dalal, is facing charges of cheating investors to the tune of Rs 54 crore. Dalal, who operated the consultancy firm Ritz Consultancy, allegedly promised investors a monthly return of 2% on their investments. According to the police, 55 investors have come forward with complaints against Dalal. However, authorities suspect it could be a larger ponzi scheme involving a significantly higher amount, as reported by the Indian Express on March 18. Investors alleged that they received regular returns on their investments until February. However, the payments due for March were not made, raising suspicions. Initially, Dalal…

Naman In-Store (India) IPO has set the price band for its equity shares at ₹84 to ₹89 per share, with a face value of ₹10 each. The IPO subscription period will start on Friday, March 22, and close on Wednesday, March 27. The lot size for Naman In-Store IPO is 1,600 shares, and bids can be placed in multiples of 1,600 shares, with a minimum bid of 1,600 shares. The floor price is set at 8.4 times the face value, while the cap price is set at 8.9 times the face value of the equity shares. Naman In-Store is a…

In response to the overlap between the Lok Sabha Election schedule and the official Chartered Accountants (CA) exam timetable, the Institute of Chartered Accountants of India (ICAI) has announced plans to reschedule the exams and provide new dates. According to an official notification released by the institute, the revised schedule for the May 2024 examinations will be published on the evening of March 19, accessible via the official website www.icai.org. The notification highlights, “The Election Commission today announced the schedule of Election to the 18th Lok Sabha, to be held from April to June 2024. The Lok Sabha Election, spanning…