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Bombay High Court

Dec 06, 2019, 11.22 PM IST

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  • The move comes ahead of the Supreme Court hears a group of investors who have moved it on the matter, and barely three days after the National Company Law Tribunal's Mumbai bench admitted the RBI's application for initiating insolvency proceedings against the cash-strapped firm, and permitted it to go ahead in the matter.

    The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.

    The Supreme Court had taken into account that three judicial officers of the eight recommended by the Bombay High Court had crossed the prescribed age limit. However, the SC found Debadwar, Tavade and Kulkarni fit for elevation, keeping in view their excellent service records and the need for more judges, given the increasing pendency of cases.

    Kochhar had moved the Bombay High Court challenging ICICI Bank's decision to terminate her despite the bank having approved her request for early retirement.

    Kochhar has filed a petition against ‘purported termination’ and denial of the agreed remuneration by ICICI Bank.

    Maharashtra CM Uddhav Thackeray announced stay on construction of metro car shed project in Mumbai's green lung Aarey Colony. He, however, clarified that he had not stayed the work of the Mumbai metro rail project itself.

    Navlakha was given interim protection from arrest since August last year when he approached the high court seeking to quash the case lodged against him by Pune police.

    The government notified the Insolvency and Bankruptcy Rules, 2019, to provide a generic framework for insolvency and liquidation proceedings of systemically important financial service providers, other than banks.

    In the case of DHFL, bankers want mutual funds on board to ensure that no entity takes a unilateral decision.

    SC said that the government must clear all appointments to the superior courts within six months of any recommendation being sent to it even as the law ministry issued a formal notification appointing Justice Akil Kureshi as the Tripura High Court Chief Justice after much delay.

    Amid the impasse over government formation in Maharashtra, Governor Bhagat Singh Koshyari has the discretion to consider all equations and combinations and call each party one by one to stake claim, say legal experts.

    This clarification has come a day after Congress General Secretary Priyanka Gandhi termed the company a defaulter and slammed the UP government for investing the employee provident fund money in such a firm. Priyanka had asked that whose interest was being served by investing Rs 2,000 crore of the employees' hard-earned money in such a company.

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