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HC asks Advocates to submit Video Clipping of Arguments [Read Order]

an hour ago Lawstreet News Network 0
In a first of its kind instance, the Delhi High Court, on Monday (June 1, 2020), asked the parties in the case titled Sat Prakash Soni vs Union of India and Ors. to submit a 15-minute-long video of their arguments as part of their submission for the hearing.The Court allowed the preponement of the hearing, as pleaded by the petitioner and...

Bombay High Court Rejects Lockdown Plea, Allows for Auction of Prime Property for Recovery of Loan Dues

3 hours ago Ishita Joshi 2
The Bombay High Court turned down the attempt to stall the sale of a prime bungalow, spread over around 25, 000 square feet, at the Cuffe Parade for the recovery of the dues of a financial institution. On Friday, 29th May 2020, a division bench consisting of Justice Nitin Jamdar and Justice NR Borkar refused to grant any interim relief to the...



Government launches Incentive Schemes to Boost Large-Scale Manufacturing of Electronics in the Country

3 hours ago Priyam Jain 3
Ravi Shankar Prasad the Telecom and IT Minister has stated that on Tuesday (June 2nd, 2020) they have launched three incentive schemes with a total outlay of Rs 48,000 crores to boost large-scale manufacturing of electronics in the country. The schemes include the Production Linked Incentive of about Rs 41,000 crore; The Component Manufacturing...

Proposal to Suspend IBC Proceedings for Defaults post-March 25 Approved by the Cabinet

3 hours ago Priyam Jain 1
On Wednesday (June 3, 2020) it was cleared by the Cabinet that the proposal to suspend the insolvency proceedings under the Insolvency and Bankruptcy Code to avoid companies at large from being forced into insolvency proceedings for non-performing assets during the COVID-19 period starting from 25 March until a date which will be notified by the...



RBI Warns SC of Rs 2 Trillion Blow to Banks If Interest During Moratorium Is Allowed to Be Waived

an hour ago Priyam Jain 0
Recently the Supreme Court was warned by the Reserve Bank of India of not allowing a plea seeking waiver of interest for the six-month moratorium period on loan repayments, ending on 31st August 2020. The RBI estimated that a ‘forced’ waiver of interest will hurt banks by as much as Rs 2 lakh crore which will indeed have huge consequences for...

Louis Vuitton’s Takeover of Tiffany Becomes Uncertain Due To COVID-19

6 hours ago Parth Thummar 0
French luxury goods group LVMH's $16.2 billion (13 billion pounds) takeover of Tiffany & Co is becoming uncertain as the jeweler is grappling with a deteriorating situation in the US market brought on by a global COVID-19 pandemic and severe social unrest. It was reported in fashion trade publication WWD on June 02, 2020.Tiffany's shares had...