Law must save home buyers from builder-planner 'unholy nexus': SC
The top court made this observation while directing the demolition of 40-storey twin-towers of Emerald Court, constructed by real estate company Supertech in Noida. A bench of Justices D.Y. Chandrachud and M.R. Shah said construction of twin towers was violative of the minimum distance requirement, and emphasised that the purpose of stipulating a minimum distance is a matter of public interest in planned development.
SC to SEBI: Don't take coercive steps against NDTV promoters
At the beginning of the hearing, Solicitor General Tushar Mehta, representing SEBI, requested a bench headed by Chief Justice N.V. Ramana to adjourn the matter for next Friday and the other side has also given consent for it. Justice Ramana said: "But, do not take coercive steps" Mehta said yes, there is an order. Justice Ramana queried, "What is the stage of the appeal?"
Underground Unitech office found, SC orders brothers' transfer from Tihar to Mumbai jails
A bench of Justices D.Y. Chandrachud and M R Shah passed the order following a report by the Enforcement Directorate claiming it has found a "secret underground office", which was being operated by their father and Unitech founder Ramesh Chandra, and both his sons Sanjay and Ajay visited the office, when on parole or bail. The agency has alleged that it was done in collusion with the Tihar Jail authorities.
Builders only understand 'colour of money' or a jail term: SC
A bench headed by Justice D.Y. Chandrachud told real estate firm Ireo Grace Realtech Pvt Ltd that the court had directed it to refund the money, but it filed a plea seeking modification of the order. This plea was dismissed in March and the top court had directed that the money should be paid to the home buyers within two months.
SC gives last chance to Unitech home buyers seeking refunds to reconsider decision
A bench of Justices D.Y. Chandrachud and M.R. Shah told amicus curiae, advocate Pawanshree Agrawal, to open the web portal for 30 days, to enable 1,197 home buyers, who have opted for refund, one last chance to reconsider their decision. In December 2019, the portal was closed for registration.
'Inquiry has to be conducted': SC junks Flipkart, Amazon plea against CCI probe
A bench headed by Chief Justice N.V. Ramana and comprising justices Vineet Saran and Surya Kant said: "Big organisations like you (Flipkart and Amazon) should volunteer for inquiry... Inquiry has to be conducted." The bench declined to interfere with the orders of the Karnataka High Court, which refused to interfere with the preliminary enquiry ordered by the CCI into their alleged anti-competitive practices.
Amazon Vs Future Retail: SC rules in favour of Amazon; emergency award enforceable in Indian law
A bench headed by justice R.F. Nariman held that the emergency award passed under the Singapore International Arbitration Centre (SIAC) rules can be enforced in India under Arbitration and Conciliation Act. The top court said: "Emergency arbitrator's award holds good under section 17(1) of the Arbitration and Conciliation Act and single judge's order for such award cannot be appealed under Section 17(2)".
Flipkart urges SC to restrain CCI probe
The request, in a court filing more than 700 pages long that has not been made public, illustrates the e-commerce giant's level of concern over the investigation, which has prompted public spats between US firms and the Indian government. In its investigation, which includes Amazon.com, the Competition Commission of India (CCI) sought a list of Flipkart's top sellers, online discounts and pacts with smartphone makers.
No new debt scheme till SAT disposes appeal, Franklin Templeton to SC
On Monday, a bench comprising Justices Abdul Nazeer and Krishna Murari took on record a submission made by the fund house that it would not launch any new debt scheme till the pendency of the appeal before SAT. The bench, however, refused to interfere in the other part of the order, which directed the Franklin Templeton to pay Rs 250 crore against demand of Rs 512 crore, and granted four weeks to the petitioner to file their reply before the tribunal.
Vodafone Idea shares dip as SC dismisses plea on correction of AGR calculation
At around 12.20 p.m., shares of Vodafone Idea on the BSE were trading at Rs 8.58, lower by 7.24 per cent from its previous close. A bench headed by Justice L. Nageswara Rao said all applications dismissed. On Monday, the apex court already said it would pass its order on applications filed by Vodafone Idea, Bharti Airtel and Tata Tele Services Ltd, alleging arithmetical errors in calculation of AGR dues payable by them.