Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The 5-judge constitutional bench headed by Chief Justice <keyword id="6355251" type="PERSON" weightage="20" keywordseo="dipak-misra">Dipak Misra</keyword> ruled that women can now enter <keyword id="28504" type="CITY" weightage="20" keywordseo="Kerala">Kerala</keyword>’s <keyword id="6384180" type="LOCATION" weightage="20" keywordseo="sabarimala">Sabarimala</keyword> temple, irrespective of their age.</li><li>The verdict stated that the tradition violated the right of Hindu women to practice their religion.</li><li>The bench also said, the Kerala Hindu Places of Public Worship (Authorisation of Entry) Rules, 1965 put patriarchy in religion above the right to pray, which is stated in Article 25 of the Indian constitution. </li></ul>In another landmark verdict this week, the <keyword id="75952" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court-of-India">Supreme Court of India</keyword> ended the centuries-old tradition of women not being able to enter Kerala’s most well-known temple, the Sabarimala temple, if they were between the ages of 10 to 50. Petitioners had challenged the Kerala High Court’s decision that only the tantri or priest had the power to decide on traditions. The <a href="https://indianexpress.com/article/india/sabarimala-verdict-live-updates-supreme-court-women-temples-kerala-5377598/?#liveblogstart">five-judge Constitutional bench</a> that included Chief Justice Dipak Misra, R F Nariman, A M Khanwilkar, D Y Chandrachud and <keyword id="854247" type="PERSON" weightage="20" keywordseo="Indu-Malhotra">Indu Malhotra</keyword>, ruled that the tradition enforced patriarchy in religion and could not be allowed to trump women’s right to pray. Not a unanimous decision Justice Indu Malhotra was the only judge on the bend to vote against the petition. She stated that rational arguments cannot be applied to matters of religion and that religious practices are more complex than the right to equality. She added that Article 25 of the Indian constitution already protects the Sabarimala shrine and its deity. While Article 14 stresses the right of all individuals to be equal in the eye of the law, constitutional morality also accounts for everyone being allowed to practise their beliefs. Even if those beliefs are biased towards one gender. That being said, Justice Nariman expressed that the rule actually violates Article 25 by not extending the freedom of conscience and free profession, practice and propagation of religion to women. The management of the Sabarimala temple, the Travancore Devaswom Board (TDB) has already announced that they will be filing to review the petition. The president of TDB, A Padmakumar, stated that he would be enlisting the help of other religious heads to push this forward. The custodians of the temple, the Pandalam royal family, also expressed their disappointment in the verdict.

Supreme Court of India lifts ban, women of all ages can now enter Sabarimala temple

<ul><li>The world’s largest <keyword id="6354914" type="UNKNOWN" weightage="20" keywordseo="democracy">democracy</keyword> finally decriminalised homosexual intercourse yesterday and scrapped the controversial <keyword id="6362797" type="UNKNOWN" weightage="20" keywordseo="section-377">Section 377</keyword>. </li><li>While this decision by the country’s highest court is certainly significant, there needs to be more of an impetus for social change and removing ignorance from society. </li><li>After decriminalisation, the focus should be on implementing LGTBQ rights in marriage, inheritance, adoption and surrogacy. </li></ul>In a <a href="https://www.businessinsider.in/section-377-verdict-indias-top-court-decriminalises-homosexuality-in-landmark-verdict/articleshow/65697010.cms">landmark decision</a> by the <keyword id="75952" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court-of-India">Supreme Court of India</keyword>, Section 377 was finally scrapped from the <keyword id="75223" type="ORGANIZATION" weightage="20" keywordseo="Indian-Penal-Code">Indian Penal Code</keyword>. A part of Indian law since 1861, Section 377 deemed sexual intercourse ‘against the order of nature’ leading to imprisonment of 10 years up to life, as well as a fine. The removal of this section ties into the basic civil right of privacy, freedom and equality. Any individual has the right to choose how they wish to live their life without being discriminated against in society. That being said, while the removal of Section 377 takes a huge step in that direction, there's still a lot more that has to be done for true equality to be implemented on the ground level. Battling the stigma As Justice Rohinton Nariman’s <a href="https://www.sci.gov.in/supremecourt/2016/14961/14961_2016_Judgement_06-Sep-2018.pdf">verdict</a> states, “We further declare that such groups are entitled to the protection of equal laws, and are entitled to be treated in society as human beings without any stigma being attached to any of them.” Despite that, prominent public figures in India have issued statements in the past that range from being ignorant to plain abuse. While one can hope that the removal of Section 377 will change their minds, various debates on the subject across multiple news channels exhibit otherwise. There needs to be a campaign to not only to raise awareness but to educate people on what <keyword id="34262" type="PERSON" weightage="20" keywordseo="homosexuality">homosexuality</keyword> is. According to <keyword id="6833354" type="UNKNOWN" weightage="20" keywordseo="justice-nariman">Justice Nariman</keyword> the government should conduct programmes to end the stigma around homosexuality and individuals employed with the government should receive workshops to sensitise them to subject. That being said, the initiative would a long way if it was implemented in the school system and workplace as well. In a country where basic sex education isn’t even implemented in schools, awareness against judgement and prejudice is all the more important. The path forward The next step of the Indian government after decriminalizing homosexuality is to allow for same-sex marriages. It will take time to happen, but like in other countries around the world, it could be brought in as an interim measure. Civil partnerships should be recognised as binding across all sectors some which include insurance, inheritance, surrogacy, adoption or childbirth. Currently, there's no law in place to battle discrimination at that level. More than addressing discrimination, it’s also about the realisation of fundamental <keyword id="52767" type="COMPANY" weightage="20" keywordseo="Human-rights">human rights</keyword>. For instance, the current law on rape is inadequate to address non-consensual sex between same-sex individuals. And, the same follow through when it comes to sexual harrassment. There’s a lot of <a href="https://qz.com/india/1380947/section-377-the-former-british-colonies-with-laws-against-gay-people/">conversation</a> about how Section 377 the legacy of the British rule in India. But even the United Kingdom, excluding Northern Ireland, <a href="https://www.bbc.com/news/uk-26793127">passed</a> the legislation allowing for <keyword id="393963" type="PERSON" weightage="20" keywordseo="same-sex-marriage">same-sex marriage</keyword> back in 2013.

Section 377 verdict: What’s next for India?

The <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> said the order by the Telecom Regulatory Authority of India (<keyword id="6356988" type="PERSON" weightage="20" keywordseo="TRAI">TRAI</keyword>) asking telecom service providers to pay for <keyword id="6395111" type="UNKNOWN" weightage="20" keywordseo="call-drops">call drops</keyword> was unreasonable and struck it down. 
 
Justice Kurian Joseph and Justice Rohinton Fali Nariman said the TRAI notification was unreasonable, arbitrary and non-transparent. 
 During the hearing, the <keyword id="6379816" type="UNKNOWN" weightage="20" keywordseo="Telecom-operators">telecom operators</keyword> said TRAI decision was a populist measure to accommodate consumers as call drops were happening for host of external considerations not attributable to them. 
 
The TRAI argued that the penalising for call drops was the least invasive way to deal with the issue and the telecos were making money from it. 
 
Meanwhile, the Apex Court has asked the Indian government to make a law on call drops similar to those in the US. 
 
The Cellular Operators' Association of India had approached the court challenging the Delhi High Court order which had upheld TRAI decision. 
 
(Image: Thinkstock)

Telecos will not compensate for call drops as Supreme Court strikes down TRAI order

The <a href="http://www.businessinsider.in/searchresult.cms?query=supreme+court">Supreme Court</a> did not agree with banks that <a href="http://www.businessinsider.in/searchresult.cms?query=VIJAY+MALLYA">Vijay Mallya</a> should be personally present in the court. 
 
Instead, the apex court issued notices to Mallya, seeking his views on the petition filed for his presence in the court as banks said he had left the country. 
 
Attorney General Mukul Rohatgi, who sought such an order from the court, argued that Mallya’s Twitter messages showed that he may be in London and a court order would force him to come back to the country. 
 
READ ALSO: <a href="http://www.businessinsider.in/A-little-too-late-Mallya-flew-out-of-India-before-banks-could-take-a-stay-order-against-him/articleshow/51323634.cms">A little too late! Mallya flew out of India before banks could take a stay order against him</a> 
 
However, Justices Kurian Joseph and RF Nariman sought views from Mallya, United Breweries Holdings and the Indian Embassy in London, on the petition which wants him to disclose the details of all his assets to the court. 
 
Lenders are trying to recover loans worth a whopping Rs 9,000 crore from Mallya related to the now-defunct <a href="http://www.businessinsider.in/searchresult.cms?query=kingfisher+airlines">Kingfisher Airlines</a> founded by him. 
 
Mallya will have to reply to the notice by March 30, the next date of hearing. The applications also demanded that he furnish adequate guarantees to secure his presence in court. 
 
(Image: Indiatimes)

SC issues notice to Vijay Mallya, his presence may not be required in the court

In a significant judgement, the Supreme Court on Thursday directed political <keyword id="15047" type="PERSON" weightage="20" keywordseo="Parties">parties</keyword> to upload on their respective websites the details of all pending criminal cases against candidates contesting polls, citing the alarming increase in criminalisation of politics in past four general elections. A bench headed by Justice R.F. Nariman said the parties would have to clarify on reasons for selecting candidates with pending criminal cases and upload this information on their websites. The top court also observed that political parties will have to submit a compliance report within 72 hours, to the Election Commission, after selecting candidates having pending criminal cases. The order from the top court came on a contempt plea filed by Advocate Ashwini Upadhyay, raising critical issues due to increase in criminalisation of politics. The plea claimed the directions given by the apex court in its September 2018 verdict, which specified guidelines to disclosure of criminal antecedents by candidates, is not being followed in letter and spirit. The top court also directed that political parties would have to publish this information on their social media platforms like <keyword id="6354576" type="COMPANY" weightage="20" keywordseo="facebook">Facebook</keyword> and <keyword id="6354616" type="COMPANY" weightage="20" keywordseo="Twitter">Twitter</keyword> besides publishing this information in one local vernacular and one national newspaper. The apex court directed the poll body to apprise the court if it were to come across failure in compliance with its directions. --IANS ss/skp/

Parties must publish candidates criminal cases on sites: SC

<ul><li>The <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> is reviewing the entry of women of all ages into the temple.</li><li>The Supreme Court today moved the matter to a seven member bench, from the current five bench judgement.</li><li>Before the last SC verdict women of menstruating age were not allowed to enter the temple because the deity is believed to celibate. </li></ul>The controversial <keyword id="498405" type="PERSON" weightage="20" keywordseo="Sabarimala-case">Sabarimala case</keyword> shows no signs of dying down. The Supreme Court today moved the matter to a seven member bench, from the current five bench judgment. The petitions that were filed to review its earlier judgment are kept pending. The Court needs time to review the matter, said a lawyer who was speaking outside the Supreme Court. 
 <div type="image" title="Sabrimal-temp" msid="72050713" hostid="261"></div>



 The top court is reviewing the entry of women of all ages into the temple. Before the last SC verdict women of menstruating age were not allowed to enter the temple because the deity is believed to celibate. Today's appeal is expected to settle the debate once and for all. The Supreme Court with a 5-judge bench led by <keyword id="548459" type="PERSON" weightage="20" keywordseo="Chief-Justice-Ranjan-Gogoi">Chief Justice Ranjan Gogoi</keyword> was reviewing 64 petitions which had challenged its earlier verdict. Last year, in a landmark judgment, the Supreme Court had allowed menstruating women between the age group of 10-50 to enter the temple. The earlier verdict was passed by a 5-judge bench which included the then Chief Justice Dipak Misra, and Justices A. M. Khanwilkar, R. F. Nariman, Indu Malhotra and D. Y. Chandrachud. It wasn’t a unanimous judgment with the only woman on the panel Justice Indu Malhotra opposing the decision where she had said that the rational arguments cannot be applied to matters of religion and that religious practices are more complex than the right to equality. Then, the body which manages the <keyword id="453325" type="UNKNOWN" weightage="20" keywordseo="sabarimala-temple">Sabarimala temple</keyword> – the Travancore Devaswom Board (TDB) and the custodians of the temple, the Pandalam royal family had expressed its disappointment with the verdict. Since then, the temple has seen multiple protests from both sides of the party – the temple authorities have challenged the court’s verdict, while women have on different occasions <a href="https://www.ndtv.com/india-news/two-women-below-50-enter-keralas-sabarimala-temple-police-sources-1971204">sneaked into</a> the temple and were escorted by cops. The Mandala season is here From Wednesday, the security at Sabarimala temple, which opens its doors on Sunday for devotees for the two-month long festival, has been tightened before the verdict. According to IANS, the police have classified the two month long season ⁠— from November to January ⁠— into four segments with the first two weeks starting on November 15 to November 29 and in all 2,551 police personnel would be posted in and around the temple complex.

Supreme Court moves Sabarimala case to a 7-judge bench

The honourable Supreme Court of India has asked Congress scion <keyword id="5268" type="PERSON" weightage="100" keywordseo="Rahul-Gandhi">Rahul Gandhi</keyword> to either express regret for his comments holding the Rashtriya Swayamsevak Sangh (<keyword id="42498" type="COMPANY" weightage="100" keywordseo="RSS">RSS</keyword>) responsible for Mahatma Gandhi's assassination or be ready for a trail for defamation. 
 
"RSS people killed Gandhiji and today their people (BJP) talk of him...They opposed Sardar Patel and Gandhiji," Rahul had said while he was addressing a public rally in Thane in March 2014. 
 
"Why did you make a sweeping statement against the RSS branding everyone associated with the organization in the same brush," an SC bench asked Rahul Gandhi on Tuesday, when it was hearing a defamation case that has been filed against him based on his remarks. 
 
"You can't make wholesale denunciation of an organization," it added. 
 
Also read: <a href="http://www.businessinsider.in/Party-must-work-like-Apple-and-not-RSS-Rahul-Gandhi/articleshow/49046082.cms">Party must work like Apple and not RSS: Rahul Gandhi</a> 
 
From Rahul Gandhi's side, the counsel said that he was right in stating as what he said was a historical fact, and can be found in government records, as per <a href="http://timesofindia.indiatimes.com/india/RSS-killed-Gandhi-Express-regret-or-face-trial-Supreme-Court-tells-Rahul-Gandhi/articleshow/53279452.cms">TNN</a>. 
 
However, the court has asked <a href="http://www.businessinsider.in/Rahul-Gandhi-visits-Kolkatas-flyover-collapse-site-to-meet-the-injured/articleshow/51659620.cms">Rahul </a>about the public good in stating it. It added that if <a href="http://www.businessinsider.in/Achhe-din-only-for-PM-Narendra-Modi-not-the-aam-aadmi-Rahul-Gandhi/articleshow/50296542.cms">Gandhi </a>is not ready to regret for saying this, he should be ready to defend himself in a <a href="http://www.businessinsider.in/Rahul-Gandhi-downplays-notice-on-dual-citizenship-row-says-will-deal-with-it/articleshow/51393887.cms">trial</a>. 
 
Rahul had requested the bench of Justices Dipak Misra and R F Nariman for a two-week adjournment, which was refused. The bench has scheduled the next hearing on July 27. 
 
<a href="http://quintype-01.imgix.net/thequint/2015-03/9019d401-d2fa-4b04-9005-de3fe54cadd0/rahul-gandhi_new-(1).jpg">Image source</a>

Rahul Gandhi vs RSS: SC asks RaGa to regret or face defamation trial

<ul><li>Yesterday, the Chief Justice of India was forced to dismiss two registrars. </li><li>They were reportedly let go for changing the wording in a document in order to prevent Ambani from making a personal appearance in court. </li><li>The case, which was filed by <keyword id="6356812" type="ORGANIZATION" weightage="20" keywordseo="ericsson">Ericsson</keyword>, involves contempt proceedings against <keyword id="46907" type="COMPANY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> and its promoter <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword> for the non-payment of a ₹5.5 billion loan.</li></ul>As Ericsson’s contempt proceedings against Reliance Communications and its promoter Anil Ambani for the non-payment of a ₹5.5 billion loan near a conclusion, it seems that some people in the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword>’s camp were trying to save Anil Ambani the embarrassment of appearing in court. Yesterday, the Chief Justice of India was forced to dismiss two registrars, Manav Sharma and Tapan Chakaraborty, - whose job it is to upload orders on the SC website - for deliberately changing the wording in a document in order to prevent Ambani from making a personal appearance in court, according <a href="https://www.telegraphindia.com/india/supreme-court-sacks-2-of-its-own-over-change-in-order-on-ambani/cid/1684489">to the Telegraph</a>. The order, which was dated January 7, called for Ambani to submit to questioning in court. However, the order which was uploaded reportedly featured a clause, “personal appearance of the alleged contemnor(s) dispensed with”. The word “not” was omitted to suggest that Ambani wasn’t required to show up. After representatives of Ericsson pointed out the mistake, the correct version of the order was uploaded a few days later on January 10. A follow-up inquiry reportedly revealed that the omission of the word “not” was deliberate. Concurrently, the Supreme Court’s verdict in the contempt please case was reserved yesterday. Anil Ambani has made personal appearances for the past two days in front of the bench led by Justice RF Nariman. Earlier this month, Reliance Communications <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/from-glory-to-dust-an-ambani-brands-journey-to-bankruptcy/articleshow/67837769.cms">commenced insolvency proceedings</a> through the <keyword id="6354457" type="ORGANIZATION" weightage="20" keywordseo="National-Company-Law-Tribunal">National Company Law Tribunal</keyword>. The former telecom major has nearly ₹450 billion in debts. In order to trim its debt burden, Ambani was hoping to secure a mammoth sale of spectrum assets to his brother Mukesh Ambani’s <keyword id="2003276" type="COMPANY" weightage="20" keywordseo="Jio">Jio</keyword>. However, the deal was called off in December last year. As things stand, Reliance Communications is struggling to find buyers for its assets. SEE ALSO: <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-decides-that-it-may-be-too-expensive-to-give-brother-anil-ambanis-rcom-a-lifeline-after-all/articleshow/67174546.cms">Mukesh Ambani’s Reliance Jio decides that it may be too expensive to give brother Anil Ambani’s RCom a lifeline after all</a> <a href="https://www.businessinsider.in/anil-ambanis-rcomm-gets-a-lifeline-from-brother-mukesh-ambanis-jio-as-first-phase-of-asset-sale-is-completed/articleshow/65562272.cms">Anil Ambani’s RComm gets a lifeline from brother Mukesh Ambani’s Jio as first phase of asset sale is completed</a>

India’s Supreme Court dismisses two staff members for trying to protect Anil Ambani from personal appearance

(Photo Source: pxhere.com) <ul><li>Chartered accountants in India could reportedly face action who bring ‘disrepute’ the profession even outside work </li><li>CAs may lose their license in case they are found guilty of misconduct. </li><li>According to Supreme Court ruling, CAs could be penalised regardless of whether the misconduct was work-related. </li></ul>Professional or other misconduct even outside work could have severe consequences for India’s chartered Accountants, according to a recent ruling by India’s Supreme Court. Additionally, CAs could be stripped off their professional licence, effectively banning them from work as per the ruling, Economic Times <a href="https://economictimes.indiatimes.com/news/politics-and-nation/donning-cas-hat-means-being-an-accountant-be-accountable-24x7/articleshow/66817162.cms">reported.</a> “A member of the Institute, whether in practice or not, shall be deemed to be guilty of other misconduct, if he is held guilty by any civil or criminal court for an offence which is punishable with imprisonment for a term not exceeding six months or brings disrepute to the profession or the Institute as a result of his action whether or not related to his professional work.” the Supreme Court said in its <a href="https://www.consultease.com/supreme-court/order-council-icai-vs-sh-gurvinder-singh/#.W_4sjmgzbIU">judgment </a>dated 16 November. Even drinking and driving or creating a public scene that disgraces the accounting profession could potentially amount to disciplinary action, according to the ET report, which cited Manoj Fadnis, former president of Institute of Chartered Accountants of India (<keyword id="6364696" type="UNKNOWN" weightage="20" keywordseo="ICAI">ICAI</keyword>) said. The decision came when a Supreme Court bench comprising Justice Rohinton Fali Nariman and Justice Navin Sinha was hearing a case related to an earlier high court judgment involving the Institute of Chartered Accountants of India (ICAI), which had earlier initiated proceedings against a CA, <keyword id="121229" type="PERSON" weightage="20" keywordseo="gurvinder-singh">Gurvinder Singh</keyword>, who was accused of <a href="https://www.consultease.com/supreme-court/council-icai-vs-sh-gurvinder-singh-supreme-court/#.W_4l22gzbIU">misconduct</a> in a matter related to the accused “transferring 100 shares” in this own name. While the ICAI council and Gurvinder Singh had settled the case between them, the disciplinary committee found that Singh’s conduct was “derogatory in nature and highly unbecoming.” Further details of the case weren’t disclosed. The Supreme Court bench overturned the high court ruling, saying it had not correctly appreciated the Sector 21(3) of Chartered Accountants Act 1949, under which ICAI could enforce disciplinary action in case an accused was guilty of a civil or criminal offence that carried a punishment under the <keyword id="75223" type="ORGANIZATION" weightage="20" keywordseo="Indian-Penal-Code">Indian penal code</keyword> of less than six months.

Chartered accountants in India may lose their license for misconduct even outside work

<keyword id="860096" type="PERSON" weightage="20" keywordseo="Section-497">Section 497</keyword> of the <keyword id="75223" type="ORGANIZATION" weightage="20" keywordseo="Indian-Penal-Code">Indian Penal Code</keyword> has become a hot topic following an important ruling by the Supreme Court which scrapped this law altogether. Here we discuss in length about this law and what it implied so far. Section 497 of the India Penal Code deals with adultery. The recent judgment by the Supreme Court overturned there earlier rulings that upheld that the said law was constitutional. As per the Supreme Court’s recent decision, Section 497 of IPC goes against the constitution of India and hence need to be scrapped altogether. The bench that pronounced the recent judgment consisted of five judges including the Chief Justice <keyword id="6355251" type="PERSON" weightage="20" keywordseo="dipak-misra">Dipak Misra</keyword>, and Justices R F Nariman, A M Khanwilkar, DY Chandrachud and Indu Malhotra. Overview of Section 497 of IPC Section 497 of IPC says it is a punishable offense for a man to have sexual intercourse with a married woman without the consent of her husband. The man committing such an offense can be imprisoned for five years or more and can also be asked to pay a fine. Understanding ‘adultery’ in the legal context The dictionary meaning of the term adultery reads thus, "adultery is a voluntary sexual intercourse between a married person and a person who is not their spouse". The petitioners wish to address a few problems connected to Section 497 of IPC as explained hereunder. One big concern regarding this law is that it does not appear to be gender-neutral. In case of any act of adultery committed, the law calls for punishing the man but not the woman involved. Section 497 does not enable a woman to file a complaint against her husband when he has had sexual intercourse with another woman. A number of people call this an anti-woman law since the law seems to reduce a woman as a mere object. As per what the said law implies, a man does not need the consent of the woman to have sexual intercourse with her. The law only says, the said act will not be a crime if the woman’s husband agrees for the act. How the Supreme Court interpreted Section 497 of IPC The judges have stated recently that the Section 497 seems outdated. In fact, it appears to violate the Articles 14 and 21 of the IPC. While commenting on the said law, the justices remarked, "Adultery can be ground for civil issues including dissolution of marriage but it cannot be a criminal offence." The bench also added further that Section 497 looked 'unconstitutional' as it violates the right to equality. There are no reasons whatsoever to continue this law that does not serve the intended purpose. Nevertheless, the Supreme Court upheld that adultery can be a valid ground for applying for divorce. Talking at length about the law and the reasons for scrapping the law, Justice DY Chandrachud commented that Section 497 deprives women of their dignity. CJI Misra said, "Women must be treated with equality with men. Any discrimination shall invite wrath of Constitution. A woman can't be asked to think the way society desires."

What is Section 497 IPC

New Delhi, Nov 15 () Global steel giant ArcelorMittal on Friday said it is looking forward to close the acquisition of debt-ridden Essar Steel soon.
 The remarks followed the apex court verdict that gave nod to ArcelorMittal's resolution plan, paving way for ArcelorMittal's takeover of Essar Steel for Rs 42,000 crore.
 Essar Steel was auctioned under the new Insolvency and Bankruptcy Code (IBC) to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors.
 "We look forward to the closing of the acquisition soon," ArcelorMittal said in a statement adding that it is "very pleased with the judgment that our resolution plan has been approved".
 The Supreme Court on November 15, paved the way for ArcelorMittal takeover of debt-ridden Essar Steel for Rs 42,000 crore and set aside the July 4, NCLAT order giving equal status to financial creditors and operational creditors.
 The verdict came on a plea of the committee of creditors challenging NCLAT's order of July 4, in which it had approved steel tycoon Lakshmi Mittal-led ArcelorMittal's Rs 42,000-crore bid for the acquisition of Essar Steel after it rejected a plea by the lead shareholder of the debt-laden firm challenging the eligibility of the bidder.
 A bench headed by Justice R F Nariman clarified that financial creditors enjoy primacy over operational creditors and the adjudicating authority cannot interfere with the decision approved by the committee of creditors.
 The top court said that the adjudicating authority can send back the resolution plan to the committee of creditors (COC) for implementation in accordance with the guidelines but cannot change the commercial decision taken by the COC.
 The bench also relaxed the timeline of 330 days to find a resolution plan as prescribed under the Insolvency and Bankruptcy Code.
 The bench said it would be open for the adjudicating authority to maintain the timeline in exceptional cases.
 The bench said that the COC resolution plan must balance the interest of all stakeholders.
 The apex court had on July 22, ordered status quo in the Essar insolvency case.
 The National Company Law Appellate Tribunal (NCLAT) had, however, given operational creditors equal status as lenders in the distribution of the ArcelorMittal's bid amount among the creditors of Essar Steel. SID NAM DRR

Look forward to close Essar Steel acquisition soon: ArcelorMittal

<ul><li>India's Supreme Court ruled status quo on the sale of Essar Steel to ArcelorMittal. </li><li>Essar Steel's lenders had appealed against the verdict of National Company Law Appellate Tribunal. </li><li>The NCLAT verdict had put banks at par with other suppliers who were owed money from the bankrupt Essar Steel. </li><li>ArcelorMittal had offered ₹42,000 crore to Essar Steel's lenders and promised to invest another ₹8,000 crore in the company. </li></ul> The <a href="https://www.forbes.com/profile/lakshmi-mittal/#284bbf8b191e">$12 billion Lakshmi Mittal</a>, chairman of ArcelorMittal, has been fighting to take over Essar Steel for over two years now. Finally, in June 2019, it's $6.1 billion bid for the bankrupt steel company, owned by the Ruia family, was approved by a lower court but the Supreme Court of India has put the proposal on hold once again. A bench headed by Justice Rohinton F. Nariman admitted the appeals by Essar Steel lenders and ArcelorMittal challenging the order of the National Company Law Appellate Tribunal (NCLAT). The share price of ArcelorMittal jumped over 3.7% in trade in Amsterdam. The court said it will conduct detailed hearing on the contentions made in the appeal and also look into the issues emerging from the verdict after two weeks. ArcelorMittal had offered ₹42,000 crore to Essar Steel's lenders and promised to invest another ₹8,000 crore in the company. Banks were hoping to get a lion's share of the money for what Essar Steel had owed them but then the NCLAT order had put the banks at par with other suppliers of the company at par with the suppliers with unpaid dues. Essar Steel is under a debt of ₹30,030 crore to financial creditors and ₹11,969 crore to operational creditors. The tribunal has asked the committee of creditors to engage professional firms to finalise the exact amount to be distributed among each operational creditor. In the case of Essar Steel, the operational creditors include energy companies Indial Oil, ONGC, NTPC, BPCL, and GAIL. Both the banks and the suppliers would have received 60% of the dues. However, the standoff between the lenders and the vendors has not landed in the Supreme Court putting on hold steel tycoon's bid for the bankrupt Essar Steel once again. SEE ALSO: <a href="https://www.businessinsider.in/indian-banks-are-recovering-over-1-5-times-as-much-money-under-the-ibc-but-its-still-painfully-slow/articleshow/69323112.cmshttps://www.businessinsider.in/indian-banks-are-recovering-over-1-5-times-as-much-money-under-the-ibc-but-its-still-painfully-slow/articleshow/69323112.cms">Indian banks are recovering over 1.5 times as much money under the bankruptcy code — but it's still painfully slow</a>

You Searched For "justice nariman" and got 12 results

Supreme Court of India lifts ban, women of all ages can now enter Sabarimala temple

Prabhjote Gill

Section 377 verdict: What’s next for India?

Prabhjote Gill

Telecos will not compensate for call drops as Supreme Court strikes down TRAI order

BI India Bureau

SC issues notice to Vijay Mallya, his presence may not be required in the court

BI India Bureau

Parties must publish candidates criminal cases on sites: SC

IANS

Supreme Court moves Sabarimala case to a 7-judge bench

Sanchita Dash

Rahul Gandhi vs RSS: SC asks RaGa to regret or face defamation trial

BI India Bureau

India’s Supreme Court dismisses two staff members for trying to protect Anil Ambani from personal appearance

Dilsher Dhillon

Chartered accountants in India may lose their license for misconduct even outside work

BI India Bureau

What is Section 497 IPC

BI India Bureau

Look forward to close Essar Steel acquisition soon: ArcelorMittal

PTI

ArcelorMittal's $6.1 billion bid for Essar Steel is on hold again

Sriram Iyer

Popular Keywords

Buying Guides