Author: Legal Parivar

K Kavitha, a prominent figure in the BRS party, has been remanded to judicial custody until April 23 by the Delhi Rouse Avenue Court on April 15. This decision stems from the ongoing case related to the alleged irregularities in the formulation and execution of the now-defunct Delhi liquor excise policy for the year 2021-22, as investigated by the CBI. During the hearing, the CBI presented Kavitha, the daughter of former Telangana chief minister K Chandrashekar Rao, before the court. The agency sought an extension of her custody, but Kavitha’s legal representatives, including Advocate Nitesh Rana and Deepak Nagar, opposed…

Today, the Supreme Court of India is set to hear a plea filed by Delhi Chief Minister Arvind Kejriwal, challenging his arrest by the Enforcement Directorate (ED) and subsequent remand in a money laundering case related to the excise policy. Justices Sanjiv Khanna and Dipankar Datta will preside over the hearing. Kejriwal moved the Supreme Court after the Delhi High Court dismissed his plea on April 9, where he argued against what he termed as “political vendetta” amidst the backdrop of the 2024 Lok Sabha elections. The Delhi HC emphasized that Kejriwal had ignored nine summons issued by the Enforcement…

Despite a rally in the US dollar index, gold prices continued to climb during early trading on Monday. On the Multi Commodity Exchange (MCX), gold rates opened higher at ₹72,214 per 10 grams and reached an intraday high of ₹72,362 per 10 grams shortly after the market opened. In the international market, spot gold price is trading around $2,360 per troy ounce, marking a 0.70 percent increase from Friday’s close. The rise in gold prices is primarily attributed to escalating tensions between Iran and Israel amid the ongoing Middle East crisis. Geopolitical uncertainty has led to a rush into safe-haven…

Asian shares hit a six-week low today as investors grappled with escalating tensions in the Middle East, disappointing bank earnings, and the likelihood of the Federal Reserve maintaining higher interest rates for an extended period. The regional equities gauge dipped, mirroring Friday’s decline in US stocks. Benchmarks in Hong Kong, Japan, and South Korea all saw drops, while mainland China’s shares rose, particularly in the energy sector. Despite an unprecedented attack on Israel over the weekend, global markets showed signs of stability. Iran suggested the matter might be resolved, and President Joe Biden reportedly assured Israel that the US would…

Arjun Mohan, the CEO of Byju’s India, has resigned from his position after serving for seven months, amidst the company’s ongoing struggles to address its outstanding debt, employee salaries, and vendor dues. Founder Byju Raveendran will now take over the leadership of the company. In a statement issued on Monday, the company announced the leadership change, stating that it follows a comprehensive seven-month operational review and cost optimization initiative led by outgoing CEO Arjun Mohan. Mohan will transition to an external advisory role within the company. Following Mohan’s departure, Byju’s will restructure its business into three segments: the learning app,…

During morning trading on April 15, shares of Reliance Power experienced a nearly 5 percent decline on the NSE following the completion of the slump sale of its Vashpet, Maharashtra wind power project to JSW Renewable Energy. At 10 am, the stock was trading at Rs 26, while JSW Energy also witnessed a 1.29 percent decrease, trading at Rs 608.50. According to a regulatory filing on April 12, Reliance Power finalized the slump sale or transfer of its 45 MW Wind Power Project located at Vashpet, Maharashtra to JSW Renewable Energy (Coated) Limited, receiving a consideration amounting to Rs. 132.39…

In early trading on April 15, shares of Aster DM Healthcare surged by 14 percent, hitting a fresh record high of Rs 558 on the National Stock Exchange. This increase follows the company’s announcement of a special dividend of Rs 118 per share. Trading volume on the counter saw a significant surge, increasing more than four-fold compared to the weekly average, with a total of 1 crore shares changing hands on both the BSE and NSE combined. The special dividend, approved by the Aster DM Healthcare board on April 12, will be payable to shareholders whose names appear on the…

Shares of Exide Industries Limited surged over 6 percent to reach a new 52-week high of Rs 423 per share on April 15, following a target price raise by Morgan Stanley to Rs 485 from Rs 373. The revised target price suggests a potential upside of 22.8 percent from the closing price of Rs 398 on April 12. Over the past year, the company’s stock has witnessed a remarkable surge of over 120 percent. According to the international brokerage, Exide Industries Limited has multiple growth drivers that could propel its shares significantly higher over the next decade. Additionally, with the…

A group of 21 retired judges, comprising members from both the Supreme Court and various high courts, has penned a letter to the Chief Justice of India expressing profound concerns regarding what they perceive as increasing efforts to undermine the credibility and independence of the judiciary. In their communication, the retired justices address the “growing attempts by certain factions to undermine the judiciary through deliberate pressure, dissemination of misinformation, and public denigration,” emphasizing the seriousness of the situation at hand. They assert that these critics are driven by narrow political motives and personal gains, aiming to diminish public trust in…

Senco Gold shares surged over 13 percent on April 15 following the company’s business update, which highlighted a 28 percent revenue growth for FY24 and a remarkable 39 percent year-on-year growth for the quarter ending March 2024. Despite the upward trend in gold prices, Senco Gold achieved a 13 percent volume growth in gold and a 19 percent volume growth in diamonds for the full fiscal year. The company noted that while the rise in gold prices has affected unorganized jewelers, organized listed jewelers like itself have shown growth. However, the increase in gold prices has tightened working capital availability…