Author: Legal Parivar

Further search operations were carried out by the Central Bureau of Investigation (CBI) across seven cities in Rajasthan and Maharashtra, encompassing a total of 67 locations. These operations are part of an ongoing investigation into suspicious Immediate Payment Service (IMPS) transactions. The transactions under scrutiny are estimated to be around Rs. 820 crore and involve multiple accounts held at UCO Bank.

The administrator of bankrupt Reliance Capital Ltd has approached the National Company Law Tribunal (NCLT) seeking its intervention to compel Hinduja Group’s IndusInd International Holdings Ltd to adhere to the approved resolution plan by making payments by 28 May. In its petition, the administrator has emphasized the potential harm to Reliance Capital if the application is not granted. The tribunal recently sanctioned IIHL’s ₹9,650-crore resolution plan to acquire Reliance Capital, concluding a two-year legal dispute by the Hinduja Group. The plan must be executed within 90 days of the order issued on 27 February. However, pending regulatory clearances, including approvals…

Trading activity on the BSE and NSE will be suspended on March 8, 2024, as the nation celebrates the Mahashivratri festival. This makes March 8, 2024, a stock market holiday. However, the commodity market will remain closed in the morning session but will resume trading activities in the evening session at 5:00 PM. On Friday, there will be no trading in the Equity Segment, Equity Derivative Segment, and SLB Segment. Currency Derivatives Segments will also remain suspended. The commodity market will be open in the evening from 5:00 PM to 11:55 PM. Mahashivratri is one of the three stock market…

With the Indian economy experiencing rapid growth, the nation’s capital market has become increasingly appealing to both domestic and international investors. Interestingly, this interest isn’t limited to adults; even minors are entering the market, seeking to benefit from its promising prospects. But how can minors participate in this financial landscape, and what is the minimum age requirement for opening a demat account? This article explores these questions and offers insights to help individuals make informed decisions when considering opening a demat account for a minor. Is it possible for a minor to open a demat account?According to the Indian Contracts…

LTI Mindtree’s Chief Financial Officer, Vinit Teredesai, has tendered his resignation from the company, effective April 24, 2024. The company officially disclosed this announcement on March 7, stating that Teredesai has decided to pursue new professional opportunities beyond the L&T Group. To fill the vacancy, the Board of Directors has appointed Vipul Chandra as the incoming CFO, effective April 25, 2024. Currently serving as the Head of Treasury at Larsen & Toubro (L&T), the parent company, Chandra brings a wealth of experience to the role. In a press release, the Board of Directors expressed gratitude for Teredesai’s contributions during his…

On March 7, the Reserve Bank of India (RBI) announced the signing of an agreement with Bank Indonesia to encourage the utilization of local currencies for cross-border transactions. RBI Governor Shaktikanta Das and Bank Indonesia counterpart Perry Warjiyo formalized the Memorandum of Understanding (MoU) aimed at establishing a framework for cooperation in cross-border transactions in local currencies. The agreement between India and Indonesia seeks to boost the bilateral use of the Indian Rupee (INR) and Indonesian Rupiah (IDR), facilitating transactions in these currencies for various economic and financial activities. According to the RBI, the MoU encompasses all current account transactions,…

Tata Motors, India’s largest commercial vehicle manufacturer, announced on September 18 its decision to raise the prices of its commercial vehicles by up to 3%, effective October 1, 2023. This adjustment is aimed at mitigating the effects of previous input cost fluctuations. The price hike will vary based on individual models and variants and will be applicable across the entire range of commercial vehicles. On March 4, Tata Motors disclosed its plan to demerge its businesses into two separate listed entities: commercial vehicles (CV) and passenger vehicles (PV). This decision was met with positive reception from brokerages. Global brokerage firm…

Bajaj Auto Ltd witnessed a 4 percent surge in its share price on March 7, marking the sixth consecutive session of gains fueled by several positive developments. These include an extension of the electric vehicles incentive scheme and encouraging monthly sales figures. The upward momentum in the stock propelled Bajaj Auto’s market capitalization above Rs 2.5 lakh crore for the first time. As of 1:50 pm, the stock was trading at Rs 8,920 on the National Stock Exchange, reflecting a 3.6 percent increase from the previous close. Over the past six trading sessions, the stock has surged by 13 percent.…

Former Calcutta High Court judge Justice Abhijit Gangopadhyay officially joins the BJP in a ceremony attended by state party chief Sukanta Majumdar, Leader of the Opposition Suvendu Adhikari, and other party members. There are discussions suggesting that he might contest from the Tamluk constituency, which has been consistently won by the Trinamool Congress in the last three elections.

On Thursday, the Supreme Court requested the Centre’s response regarding a Public Interest Litigation (PIL) seeking palliative care for terminally-ill individuals as part of the national health program. The bench, consisting of Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra, acknowledged the arguments presented by senior advocate Jayna Kothari, representing the petitioner. Kothari emphasized that palliative care should be formally recognized and integrated into the national health program. However, the court disagreed with one aspect of the PIL, which sought to declare the right to receive palliative care as a component of the right to…