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Companies News Today Live Updates on January 4, 2025: Kirloskar Oil Engines file appeal before SAT challenging SEBI order to disclose family settlement deed
Livemint
·
7m ago
Medial
On January 4, 2025, Kirloskar Oil Engines filed an appeal before the Securities Appellate Tribunal (SAT), challenging a SEBI order to disclose a family settlement deed. This update is part of broader coverage on company news, including financial performance, strategic acquisitions, market shifts, mergers, leadership changes, and industry trends. The live updates provide detailed insights shaping the business landscape across various sectors.
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Linde India moves SC against SAT order in related-party transactions case | Mint
Livemint
·
10m ago
Medial
Linde India has approached the Supreme Court to challenge the Securities Appellate Tribunal's (SAT) rejection of the company's appeal against a SEBI-directed valuation exercise. The appeal is related to Linde's transactions with related parties. A Supreme Court bench, led by Chief Justice D.Y. Chandrachud, will hear the matter on Monday. The SAT had directed SEBI to ensure that confidential price-sensitive information (UPSI) is protected during the valuation exercise. SEBI had previously ordered Linde India to obtain shareholder permission for material related party transactions.
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Kirloskar cos drag Sebi to court—say key disclosure rules are ‘unconstitutional’
Livemint
·
1m ago
Medial
Five Kirloskar Group companies have filed petitions in the Bombay High Court, challenging certain disclosure regulations of the Securities and Exchange Board of India (Sebi). They claim these rules are unconstitutional, arbitrary, and infringe on contractual principles. This legal action is linked to a longstanding family dispute dating back to a 2009 settlement impacting group management. The High Court has sought Sebi’s response, with the outcome potentially affecting corporate disclosure practices, especially in family-led structures.
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SAT dismisses Linde India plea challenging Sebi valuation in related party deals | Mint
Livemint
·
10m ago
Medial
The Securities Appellate Tribunal (SAT) has dismissed Linde India's appeal against the valuation exercise conducted by a valuer appointed by the National Stock Exchange (NSE). The appeal challenged the valuation of the company's related party transactions. SAT directed the Securities and Exchange Board of India (Sebi) to clarify that both NSE and its valuer are bound by UPSI confidentiality rules. Sebi had found that Linde India engaged in material related party transactions without shareholder approval. The matter pertained to various transactions with related parties and NSE was asked to appoint a registered valuer for the valuation exercise.
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Explainer: What next for Adani-linked FPIs post settlement plea?
Money Control
·
1y ago
Medial
Eight foreign portfolio investors (FPIs) with past exposure to Adani Group companies have filed settlement applications with the Securities Exchange Board of India (Sebi) to close pending investigations. Sebi has been looking into whether the FPIs breached any market rules. If the settlement applications are approved, the FPIs will pay a fine to settle the cases. However, Sebi has the power to reject the applications and conclude the investigation with final quasi-judicial orders. The FPIs would then have the opportunity to appeal these orders in higher judicial forums. The cases are unlikely to have a significant impact on the Indian markets or retail investors, as the FPIs have already reduced their exposure to the Adani Group.
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Byju's US lenders appeal insolvency-quashing order before India's Supreme Court
Economic Times
·
12m ago
Medial
Some lenders of India's education startup Byju's have appealed to the country's Supreme Court opposing the verdict that dismissed insolvency proceedings against the company. US-based Glas Trust filed an appeal challenging the tribunal's decision that allowed Byju's and the cricket control board to settle a $19 million payment case. Glas had previously opposed the settlement, claiming founder Byju Raveendran and his brother used the money owed to lenders to clear the cricket board's dues. The Supreme Court will review the appeal on Monday. Byju's has faced various challenges recently, including internal issues and disputes with investors.
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Google wins dismissal of US consumer lawsuit over mobile search
Economic Times
·
12m ago
Medial
A federal judge in California has dismissed an antitrust lawsuit against Google, stating that the consumers had not provided sufficient evidence to support their claim of harm caused by Google's market dominance. However, the judge mentioned that the consumers could file an amended lawsuit citing a recent ruling by a Washington, D.C. court that found Google's exclusive contracts with companies like Apple as an illegal monopoly over search engines. The ruling gives hope to the consumers, but Google has denied the allegations and plans to appeal the decision.
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NCLAT upholds insolvency order against Jaiprakash Associates | Company Business News
Livemint
·
8m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by Jaiprakash Associates Ltd (JAL), the parent company of the Jaypee Group, challenging their admission into insolvency proceedings. The NCLT had previously admitted JAL into insolvency based on a plea by ICICI Bank, due to JAL's default on loans amounting to ₹1,269 crore. JAL's settlement offer to repay ₹16,000 crore within 18 weeks was also dismissed. JAL currently has outstanding borrowings of ₹55,525.89 crore, making it one of India's largest ongoing insolvency cases.
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NCLAT stays insolvency proceedings against Coffee Day Enterprises | Mint
Livemint
·
11m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has temporarily halted the corporate insolvency resolution proceedings against Coffee Day Enterprises, parent company of the Cafe Coffee Day chain. The Chennai bench of the NCLAT granted the interim order in response to an appeal made by shareholder and director Malvika Hegde, challenging a previous order by the National Company Law Tribunal. The details of the order are still awaited. Earlier, IDBI Trusteeship and IndusInd Bank had filed insolvency applications against the company, but IndusInd later reached a settlement and withdrew its application.
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Adani-Hindenburg case: Review petition filed in SC against January 3 verdict
Livemint
·
1y ago
Medial
A review petition has been filed in the Supreme Court challenging its January 3 verdict on the Adani Group stock price manipulation case. The petition argues that there were errors in the judgment and presents new material that warrants a review. The petition also claims that the Securities and Exchange Board of India (SEBI) did not disclose any findings or action taken in its investigation into the allegations. The Supreme Court had previously declined to order a Central Bureau of Investigation (CBI) or special investigation team (SIT) probe, citing SEBI's ongoing comprehensive investigation.
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Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO
Economic Times
·
2m ago
Medial
Zomato-backed Shiprocket plans to file a confidential draft prospectus with Sebi for a Rs 2,000-2,500 crore IPO. The ecommerce logistics firm aims to raise Rs 1,000-1,200 crore in fresh capital. Shiprocket has grown 20-25% in FY25 despite a challenging ecommerce landscape, serving mostly tier-II and tier-III cities. It has expanded its focus to payments, cross-border shipping, and quick commerce while acquiring several companies. The IPO is being managed by Axis Capital, Kotak Mahindra, JM Financial, and Bank of America.
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