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News on Medial
UK Supreme Court Rejects Reeves’ Motor Finance Intervention
Livemint
·
5m ago
Medial
The UK Supreme Court declined the Treasury's request to intervene in a key case concerning controversial car loans, affecting banks like Lloyds and Close Brothers with falling shares. The Treasury warned of potential economic harm, while the Financial Conduct Authority participates in the dispute resolution. Analysts predict potential large compensation costs, with Lloyds alone potentially liable for £3 billion. Close Brothers has already earmarked funds for possible liabilities related to the case.
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Supreme Court rejects Authum’s plea challenging resolution of Srei companies
Livemint
·
1y ago
Medial
The Supreme Court has dismissed a challenge by non-banking financier Authum Investment and Infrastructure against a resolution plan for Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd. The National Company Law Tribunal had previously approved a resolution plan submitted by National Asset Reconstruction Co. Ltd for the two Srei companies. Authum Investment had appealed the NCLT's decision but was unsuccessful. NARCL acquired the two Srei companies in December with a bid of ₹5,555 crore. The resolution plan aims to address a significant financial debt amounting to ₹32,700 crore.
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'Deliberate disobedience': SC rejects Ramdev's apology in Patanjali case
Livemint
·
1y ago
Medial
The Supreme Court has rejected an apology from Patanjali, Baba Ramdev, and Acharya Balkrishna for airing misleading advertisements. The court accused them of taking the contempt of court proceedings lightly and considered their actions a deliberate violation of their orders. The case revolves around misleading advertisements by Patanjali Ayurveda, which violated the court's previous order against such practices. The court was addressing a plea from the Indian Medical Association seeking guidelines to prevent false and misleading advertisements related to allopathy and modern medicine.
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Courts, govt, and the curious case of weakening arbitration softly - The Economic Times
Economic Times
·
1m ago
Medial
Recent Indian Supreme Court rulings and government actions are undermining arbitration as a litigation alternative. The Supreme Court's judgments, such as the 'Gayatri Balasamy vs ISG Novasoft Technologies' case, allow more judicial intervention in arbitration awards, injecting uncertainty. Additionally, the government's draft Arbitration and Conciliation (Amendment) Bill 2024 further expands grounds for challenging awards, weakening arbitration's reliability. These moves could discourage private parties from choosing arbitration and increase the burden on the already overwhelmed court system.
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US Supreme Court rejects X Corp's surveillance disclosure challenge
Economic Times
·
1y ago
Medial
The US Supreme Court has rejected a request from Elon Musk's X Corp (formerly Twitter) to publicly disclose the frequency of federal law enforcement seeking information about users for national security investigations. The court declined the appeal, supporting a lower court ruling that the FBI's restrictions on public disclosure did not violate X's free speech rights. The case, filed in 2014 and unrelated to Musk's acquisition of Twitter in 2022, sought to establish clear standards for tech companies in speaking about government demands for confidential user information.
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SC Dismisses PIL Seeking A New Body to Monitor OTT Content
Inc42
·
9m ago
Medial
The Supreme Court dismissed a PIL that pleaded for the creation of an independent body to regulate content on over-the-top (OTT) platforms. The petition maintained that the Central Board of Film Certification (CBFC) oversees movies, while no similar mechanism is in place for digital platforms. However, the court ruled that decisions regarding regulation should be made through appropriate policy channels rather than through judicial intervention.
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Bike taxi riders detained during protest at Vidhana Soudha against suspension of services
Economic Times
·
1m ago
Medial
A group of bike taxi riders was detained during a protest at Vidhana Soudha against the suspension of services following a Karnataka High Court directive. The protesters sought government intervention to lift the ban and establish a regulatory framework. The court had previously directed companies to halt bike taxi services until specific rules under the Motor Vehicles Act are notified. Riders emphasized the significance of bike taxis in Karnataka’s transport ecosystem and their economic impact.
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Calcutta HC halts West Bengal’s new OBC list notification until July 31
Economic Times
·
1m ago
Medial
The Calcutta High Court has placed an interim stay, effective until July 31, on West Bengal's notification for a new Other Backward Class (OBC) list, which includes 140 sub-classifications. This legal intervention follows allegations of procedural hastiness and violation of Supreme Court guidelines. The court's decision has been praised by BJP leaders who claim the state's OBC list disproportionately favors Muslim groups, while the ruling Trinamool Congress has dismissed such allegations as false.
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SC ruling on LMV licences to ease way for app cabs
Economic Times
·
9m ago
Medial
The recent Supreme Court verdict stating that individuals with a light motor vehicle (LMV) license do not require additional authorization to operate transport vehicles, including commercial passenger vehicles, is seen as a positive development for cab aggregators and fleet operators. The verdict comes after a long-standing case where a division bench of the court had ruled in 2017 that drivers without a transport endorsement on their license can operate commercial vehicles weighing up to 7,500 kg. The decision was challenged by insurance companies but was ultimately upheld by the Supreme Court, providing relief to drivers and addressing concerns about safety and livelihood issues.
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Supreme Court Rejects Telcos’ Plea for AGR Dues Waiver
StartupTalky
·
2m ago
Medial
The Supreme Court of India has rejected pleas by Vodafone Idea, Bharti Airtel, and Tata Teleservices to waive their adjusted gross revenue (AGR) dues, including interest and penalties. The decision could significantly impact Vodafone Idea, which may face insolvency without relief. Although Vodafone Idea's senior advocate stated the government owns a considerable stake, the court's ruling prevents offering further concessions. The government is reluctant to increase its stake, potentially transforming the carrier into a public sector entity.
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Amazon loses trademark appeal over 'targeting' UK shoppers
Economic Times
·
1y ago
Medial
Amazon has lost its appeal against a ruling that deemed the company to have infringed UK trademarks by targeting British consumers on its US website. The ruling, issued by London's Court of Appeal in 2022, was upheld by the UK Supreme Court. This judgment is expected to have significant implications for other online retailers, requiring them to ensure that their platforms do not automatically target British consumers. The case was brought forward in 2019 by Lifestyle Equities, the owner of Beverly Hills Polo Club trademarks, accusing Amazon of selling US branded goods to UK consumers via its US website.
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