corporate law

The allegations raised by the US government against India's largest drug maker Ranbaxy has the potential to derail plans of the company's promoters to sell their 34.8 per cent stake to Japanese drug maker Daiichi Sankyo, industry experts feel. "The nature of the allegation is so serious that if proven, Ranbaxy may end up paying billions of dollars as liability," a Mumbai-based industry analyst..

The Union ministry of corporate affairs is all set to challenge the Karnataka high court’s decision to clear the merger between Kingfisher Airlines Ltd and Deccan Aviation Ltd in the Supreme Court. The legal threat, if followed through by the ministry, will add a new headache for Kingfisher as it, along with other Indian airlines, tries to cope with mounting losses that are giving the entire in..

The unions representing the workers of Asarco LlC and Sterlite Industries, a subsidiary of Vedanta Resources Plc and a party to an agreement to acquire substantially all assets of Asarco, jointly announced today that they have reached agreement on the terms of the collective bargaining agreement that would go into effect once the proposed acquisition is approved by the bankruptcy court overseeing ..

The two year-old dispute between the Tata Industries and the A.V. Birla Group over Idea Cellular took a fresh turn on Wednesday with the Supreme Court deciding to set up an arbitrator to resolve the issue. The apex court’s decision is in favour of the Tatas’ plea seeking arbitration on the dispute, wherein it had alleged that the Birla Group had violated the shareholders’ agreement. If the..

Steel magnate LN Mittal, France's Total, Hindustan Petroleum Corporation (HPCL), Oil India and GAIL will decide by December this year on the feasibility of spending $6 billion to set up a 14 million tonne per annum refinery and petrochemical plant at Visakhapatnam in Andhra Pradesh. "The pre-feasibility study is on. before the end of the year we will know if we will move ahead with the project,..

The Delhi International Airport Ltd today said it has awarded a 36 million euros (approx Rs 240 crore) contract to supply the baggage handling system for the upcoming Terminal 3 at the Capital's airport to Siemens Mobility. The system will have a throughput of more than 11,300 pieces of baggage per hour. A baggage X-ray system for full inspection will also be integrated, the company said in ..

Indian mobile phone giant Reliance Communications said Wednesday the deadline for talks that could lead to a blockbuster merger with Africa's largest cellular firm MTN had been extended. The deadline had been pushed back to July 21, Reliance Communications said in a statement. Discussions began late May aiming to build a telecoms giant stretching from Asia to Africa and the Middle East. "RCo..

The Supreme Court today allowed Tata Industries' petition seeking arbitration to resolve its dispute related to the termination of their joint venture Idea Cellular with A V Birlas' group firm Grasim. Justice V S Sirpurkar while allowing Tata's pleas appointed former Chief Justice A S Anand, former Supreme Court judges Arun Kumar and P K Balasubramian as arbitrators. By Ms.Bobby Aanand, Metr..

SC allows Tatas petition to resolve dispute with Idea The Supreme Court on Wednesday allowed Tata Industries' petition seeking arbitration to resolve its dispute related to the termination of their joint venture Idea Cellular with A V Birlas' group firm Grasim. Justice V S Sirpurkar while allowing Tata's pleas appointed former Chief Justice A S Anand, former Supreme Court judges Aru..

The Supreme Court on Tuesday allowed Tata Power Company Ltd (TPC) to supply electricity to retail consumers, whose average consumption was less than 1000 KVA, in Mumbai and its suburbs. A bench headed by Justice Altamas Kabir, while refusing Reliance Energy's contention that Tata Power had licence to supply power only to bulk customers, allowed TPC's plea against the Appellate Tribuna..

Exchanging soiled and damaged currency notes with fresh ones has been made easier with the Reserve Bank asking banks to set up facilities in this regard at their branches. Even the mutilated currency notes, with essential features in tact, can be exchanged at designated branches of the banks, RBI said while issuing a Master Circular on exchange of notes and coins. The Master Circular..

The government has approved 28 foreign direct investment (FDI) proposals totalling Rs.13.27 billion including global retail major Marks and Spencer’s proposal for 51 percent foreign direct investment in single brand retail business. “Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on June 24, Finance Minister P. Chidambaram has approved 28 pr..

A lack of due diligence to see-through the financial un-worthiness of debt-issuing companies can lead debenture trustee-entities like banks that oversee such issuance into trouble. In what would call for greater accountability for debenture trustees, the National Consumer Disputes Redressal Commission (NCDRC) has held that failure by such trustees to ensure that the debt issuers maintain their..

The spat between the warring Ambani brothers over the South African telecom giant MTN turned into a game of legal shadow-boxing on Monday with offers and counter offers for discussions being spurned on both sides. Wary of falling into a legal 'trap', Anil Ambani's RCcom rebuffed an attempt by elder brother Mukesh-led RIL to open talks for conciliation on Monday over the issue of right of first re..

The Vigilance Bureau officers, who questioned former Punjab Chief Minister Amarinder Singh here today were not satisfied with his replies to the questions put to him. The bureau has given eight weeks to Amarinder Singh to come prepared with replies to questions which he failed to answer properly today. Shiv Kumar Sharma, investigating officer in the case, told media persons here this evening A..