SEBI bans ‘Baap of Chart’ owner from securities market; Imposes penalty of Rs. 17.2 crores
Securities and Exchange Board of India: In the instant matter, Mohammad Nasiruddin Ansari was alleged to have induced / influenced investors to
Penalty
Delhi High Court issues guidelines for mediators to be followed while recording mediation settlements in heinous crimes
Settlement of non-compoundable offences through mediated settlement agreements is not permissible. Even otherwise, to permit the accused and complainant to compromise an offence on payment of money, in session triable serious criminal cases which attracts punishment up to life, cannot be subject matter of mediated settlement agreements.
Explained| SAT order directing SEBI to refund Rs. 25 crore penalty deposited by Reliance for violating SAST Regulations
There is no such thing under the SAST Regulations that acquisition and holding of shares without making a public announcement is a violation.
Discharge of Sureties |Courts should not initiate criminal proceedings against the surety in case he seeks to discharge himself: Orissa HC
The forfeiture of the bail bond without giving the opportunity of hearing to the surety is illegal and derogates principles of natural justice.
RBI imposes penalty of Rs. 30 Lakhs on Axis Bank Ltd. for wrongly levying penal charges on its credit card holders on account of late payment
On 23-6-2023, the Reserve Bank of India (‘RBI’) imposed a penalty of Rs. 30 lakhs on Axis Bank Ltd. for non-compliance with
NCDRC imposes a penalty of INR 1.5 crores against a hospital responsible for tragic mix-up of a sperm sample used during Intra-CytoplasmicSperm injection
While deciding upon the complaint, the NCDRC also made important observations on ethical questions surrounding Assisted Reproductive Techniques and urged the Government to bring out necessary regulations for safe ART procedures.
Mens rea not an essential ingredient for contravention of S. 45, Gujarat Sales Tax Act, 1969: Supreme Court
“The intention of the legislature is very clear and unambiguous that the moment any eventuality as mentioned in Section 45(5) occurs, the penalty shall be leviable as mentioned in sub-section (6) of Section 45 of the Gujarat Sales tax Act, 1969”, the Supreme Court observed.
Power to expand scope of ‘individual borrowers’ under RBI Circular, 2014 vests with RBI and not with High Court: Madras High Court
Madras High Court said that the circular dated 2-08-2019, cannot have any implication in respect of the sole proprietary concern of the petitioner i.e., “M/s. Murugan Idli Shop”.
[Google-CCI Case] |NCLAT upholds Rs1,337 crore penalty on google for abuse of dominant position in Android Mobile Device Ecosystem
The Tribunal while upholding the impugned order passed by CCI dated 20-10-2022, set aside 4 key directions issued in paragraphs 617.3, 617.9, 617.10 and 617.7.
“A class of its own in the category of frivolous cases”: Gauhati High Court berates counsels who signed Vakalatnama for non-existent petitioner
Gauhati High Court was faced with a peculiar case where “petitioner” had followed every rule in the book to file a well-planned petition; however, in reality the petitioner did not exist!
RBI imposes penalty of Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance of KYC requirements
On 3-3-2-2023, the Reserve Bank of India (‘RBI’) imposed a penalty of Rs. 3.06 crore on Amazon Pay (India) Private Limited for
Maritime Anti-Piracy Act, 2022 receives President’s assent
On 31-01-2023, the President has given assent to Maritime Anti-Piracy Act, 2022. The Act has been enacted to give effect to the
NCLAT refuses to grant interim relief to Google; directs to deposit 10% of ₹ 936 crore penalty
National Company Law Appellate Tribunal, New Delhi: While deciding an appeal filed against the Competition Commission of India's (CCI) order imposing a
Leniency application is like admission of guilt in a cartel; NCLAT upholds penalty imposed on United Breweries, Carlsberg and All India Breweries Association
NCLAT while deciding the issue of cartelisation by breweries observed that lesser penalty application indicates admission of guilt and held United Breweries, Carlsberg India Pvt. Ltd. and All India Breweries Association liable for cartelisation.
Delhi High Court stays CCI’s order for recovery of Rs. 223.48 crore from MakeMyTrip Private Limited
The Delhi High Court stayed the recovery of a Rs. 223.48 crore penalty imposed by Competition Commission of India (CCI) on MakeMyTrip (P) Ltd. for abuse of its dominant position.
Delhi High Court strikes down R. 14(2)(b) of Building & Other Construction Workers Welfare Cess Rules, 1998 being ultra vires the provisions of S. 11 Building and Other Construction Workers Welfare Cess Act, 1996
Delhi High Court: In a petition filed challenging the vires of Rule 14 of Building & Other Construction Workers Welfare
CCI holds Google to be dominant in the relevant markets for licensable OS for smart mobile devices and app store for Android OS; Imposes penalty of Rs. 936.44 crore
Competition Commission of India: While deciding upon the complaint filed against Google alleging contravention of the provisions of the Competition
CCI | Google faces penalty of Rs. 1337.76 crores for abusing its dominant position in multiple markets in the Android Mobile Device Ecosystem; Cease and Desist order issued
“One of the most important issue that comes out is to what extent should a platform operator, in this case Google, set governance rules purportedly to “protect” its ecosystem and should there be limits to this self-assumed role?”
“Fair market opportunity is the hallmark of competition”; CCI imposes hefty monetary penalty on MakeMyTrip, Goibibo and OYO for their anti-competitive practices and abuse of dominant position
Competition Commission of India: In a significant development, the Commission while deliberating upon the alleged contravention of Sections 3 and
CESTAT | Services involving supply of goods/deemed supply of goods to be classified under ‘works contract services’ only
Customs, Excise and Services Tax Appellate Tribunal (CESTAT): The coram of Dilip Gupta (President) and P.V. Subba Rao (Technical Member) allowed the