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The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Monday deferred by six weeks hearing on a plea of Chief Minister <keyword id="19901384" type="General" weightage="20" keywordseo="Arvind-Kejriwal" source="keywords">Arvind Kejriwal</keyword> challenging a <keyword id="19895875" type="General" weightage="20" keywordseo="Delhi-High-Court" source="keywords">Delhi High Court</keyword> order upholding the summons issued to him in a criminal <keyword id="19917023" type="General" weightage="100" keywordseo="defamation-case" source="keywords">defamation case</keyword> for retweeting an allegedly defamatory video circulated by YouTuber <keyword id="21917603" type="General" weightage="20" keywordseo="Dhruv-Rathee" source="keywords">Dhruv Rathee</keyword> in 2018. A bench of justices Sanjiv Khanna, Sanjay Kumar and R Mahadevan posted the matter for hearing after six weeks after senior <keyword id="22757218" type="General" weightage="20" keywordseo="advocate-Abhishek-Singhvi" source="Orion">advocate Abhishek Singhvi</keyword>, appearing for <keyword id="19895701" type="General" weightage="20" keywordseo="kejriwal" source="keywords">Kejriwal</keyword>, sought some more time to work out a settlement. "We express regret but some more time may be given (for settlement). Currently, too many things are going on in this man's life," Singhvi submitted. Advocate Raghav Awasthi, appearing for the complainant, submitted that time may be given (to Kejriwal) but it should not be unlimited and some negotiations have to take place. Singhvi submitted that although he (Kejriwal) expresses regret for the tweet but it cannot be on his (complainant's) terms. The bench posted the matter for hearing after six weeks to enable the parties reach a settlement. Earlier, Kejriwal has admitted that he "committed a mistake" by retweeting the alleged defamatory video. On March 11, the top court asked Kejriwal whether he wanted to give an apology to the complainant in the matter. Kejriwal had on February 26 told the apex court that he made a mistake by retweeting the allegedly defamatory video related to the <keyword id="20738764" type="General" weightage="20" keywordseo="BJP-IT-Cell" source="keywords" meta.keywordsubtype="org" meta.entityname="BJP IT Cell" meta.hostid="153" meta.entityid="BJP IT Cell">BJP IT Cell</keyword>. The counsel appearing for complainant Vikas Sankrityayan had told the top court that Kejriwal may issue an apology on social media platforms like microblogging platform 'X' or Instagram. On February 26, the apex court, without issuing notice on Kejriwal's plea challenging the high court order, had asked the complainant whether he wanted to close the matter in view of the petitioner accepting it was a mistake. The top court had asked the trial court not to take up the defamation case involving Kejriwal till further orders. In its February 5 verdict, the high court said that reposting alleged libellous content would attract the defamation law. It said a sense of responsibility has to be attached while retweeting content about which one does not have knowledge and added that retweeting defamatory content must invite penal, civil as well as tort action if the person retweeting it does not attach a disclaimer. The high court, while refusing to quash the trial court's 2019 order summoning Kejriwal, had said when a public figure tweets a defamatory post, the ramifications extend far beyond a mere whisper in someone's ears. It had said if the act of retweeting or reposting is allowed to be misused as it is still considered to be a vacant grey area of law, it will encourage people with ill intentions to misuse it and conveniently take a plea that they had merely retweeted a content. The chief minister had said in the high court that the trial court failed to appreciate that his tweet was not intended or likely to harm the complainant. Sankrityayan claimed the YouTube video titled 'BJP IT Cell Part II' was circulated by Rathee, who lives in Germany, "wherein a number of false and defamatory allegations were made".

Defamation case: Supreme Court defers hearing on Arvind Kejriwal's plea to enable settlement by six weeks

New Delhi, India's top billionaires, including Gautam Adani and Sunil Bharti Mittal, mega stars from film industry such as Amitabh Bachchan and Shahrukh Khan and cricketing icons from Sachin Tendulkar to M S Dhoni are among those invited for pre-wedding celebrations of Mukesh Ambani's youngest son, Anant early next month. Ahead of the wedding ceremony in July, guests from around the world have been invited to three-day pre-wedding festivities beginning March 1, at Gujarat's Jamnagar, which houses Ambani's mega oil refineries. Anant Ambani, the youngest of the three children Mukesh Ambani and Nita Ambani have, is set to marry Radhika Merchant - the younger daughter of <keyword id="20720133" type="General" weightage="20" keywordseo="viren-merchant" source="keywords">Viren Merchant</keyword>, CEO of Encore Healthcare, and entrepreneur Shaila Merchant. With Jamnagar not having five-star hotels, ultra-luxury tents housing best of facilities, including tiled bathrooms are being erected for the guests. The guest list includes international business leaders like Meta CEO Mark Zuckerberg, Microsoft founder Bill Gates, Alphabet CEO Sundar Pichai, Adobe CEO Shantanu Narayen, Walt Disney CEO Bob Iger, BlackRock CEO Larry Fink, Adnoc CEO Sultan Ahmed Al Jaber, and EL Rothschild chair Lynn Forester de Rothschild, sources said. Indian business magnates invited include Gautam Adani and family, Tata Sons chairman Natarajan Chandrasekaran , Aditya Birla Group Chairperson Kumar Mangalam Birla, and his family, Godrej family, Infosys chairman Nandan Nilekani, RPSG Group head Sanjiv Goenka, Wipro's Rishad Premji, banker <keyword id="19998917" type="General" weightage="20" keywordseo="uday-kotak" source="keywords">Uday Kotak</keyword>, vaccine maker Serum Institute of India CEO Adar Poonawalla, Airtel chairman Sunil Mittal, Hero's Pawan Munjal, Roshni Nadar of HCL, Zerodha co-founder Nikhil Kamath, entrepreneur Ronnie Screwvala and Sun Pharma's Dilip Sanghi. Top cricketers, including Sachin Tendulkar and family, MS Dhoni and family, Rohit Sharma, K L Rahul, Hardik and Krunal Pandya and Ishan Kishan too are on the invitee list. <keyword id="19897820" type="General" weightage="20" keywordseo="bollywood" source="keywords">Bollywood</keyword> will be represented by mega stars Amitabh Bachchan and family, Abhishek and Aishwarya Rai Bachchan, Shahrukh Khan and family, Amir Khan, Salman Khan, Akshay Kumar and Twinkle Khanna, Ajay Devgn and Kajol, Saif Ali Khan and family, Chunky Pandey, Ranveer Singh and Deepika Padukone, Ranbir Kapoor and Alia Bhatt and <keyword id="19895145" type="General" weightage="20" keywordseo="vicky-kaushal" source="keywords">Vicky Kaushal</keyword> and Katrina Kaif. Madhuri Dikshit and Sriram Nene, Aditya and Rani Chopra, Karan Johar, Boney Kapoor and family, Anil Kapoor and family, <keyword id="19946417" type="General" weightage="20" keywordseo="varun-dhawan" source="keywords">Varun Dhawan</keyword>, Sidharth Malhotra, Shraddha Kapoor and Karisma Kapoor, Rajnikanth and family are are on the invitee list. The three-day-long event will be themed, according to 'Event Guide' sent to the invitees. Chartered flights have been arranged to ferry guests from Delhi and Mumbai to Jamnagar and back. Guests are expected to arrive by mid-day on March 1. Hollywood pop-icon Rihanna, along with Diljit Dosanjh and others, will enthrall the guests with their performances. Day 1 celebrations are called 'An Evening in Everland' where guests are expected to wear elegant cocktail attire. Day 2 will host 'A Walk on the Wildside' with 'jungle fever' being the suggested dress code. It is set to be held outdoors in the Ambanis' animal rescue centre in Jamnagar. The guests will then proceed to 'Mela Rouge' which will be a potpourri of desi activities and the guests will wear their favourite south Asian attires. For Day 3, two events - 'Tusker Trails' and 'Hashtakshar' are planned. The first event will be an outdoor affair where the guests will enjoy the natural beauty of Jamnagar and for the last and final event, they'll be dressed in 'heritage Indian Wear'. All the guests will be provided with personal laundry services, saree drapers and other custom assistance, the nine-page event guide said.

Billionaires to Bollywood: All invited to Anant Ambani's pre-wedding festivities

The <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> will hear SEBIs petition, in an open court, seeking review of its August 5 judgment, which directed the market regulator to share certain documents with Reliance Industries Limited (RIL). A bench headed by Chief Justice U.U. Lalit and comprising Justices J.K. Maheshwari and Hima Kohli said: "Considering the facts and circumstances on record and the submissions advanced in the review petition, we deem it appropriate to allow application for listing of the instant petition in open court. Let this review petition be listed in court on October 12, 2022." <keyword id="35210" type="General" weightage="20" keywordseo="SEBI" source="Orion">SEBI</keyword> has refused to entertain RIL's request to share the privileged documents on the grounds that under the Sebi (Settlement Proceedings) Regulations, the accused company has no right to seek information from it. The <keyword id="6356229" type="General" weightage="80" keywordseo="apex-court" source="Orion">apex court</keyword>, in its judgement, had rejected this stand of the market regulator. RIL had claimed that documents will exonerate it and its promoters from criminal prosecution initiated in a case related to the alleged irregularities in acquisition of its own shares between 1994 and 2000. Last week, a bench headed by Justice Sanjiv Khanna had recused from hearing RIL's petition seeking to initiate contempt proceedings against SEBI for failing to provide certain documents to the company. On August 5, a bench led by then Chief Justice N.V. Ramana had said: "The approach of SEBI, in failing to disclose the documents, also raises concerns of transparency and fair trial. Opaqueness only propagates prejudice and partiality. Opaqueness is antithetical to transparency." The top court had said the market regulator should show fairness and furnish documents sought by RIL, and SEBI has a duty to act fairly, while conducting proceedings or initiating any action against the parties. RIL filed a contempt petition as SEBI has not shared three documents -- the two legal opinions by former apex court judge B.N. Srikrishna and former ICAI president Y.H. Malegam's report which examined the irregularities. The company claimed SEBI cannot continue to resist the production of these documents and it had also sent a notice to the regulator saying if documents were not received by August 18, then it will establish that SEBI does not want to comply with the apex court's judgment. In 2002, Chartered Accountant S. Gurumurthy filed a complaint with SEBI alleging irregularities by RIL, its associate companies and their directors/promoters, including <keyword id="3820" type="General" weightage="80" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> and his wife, Nita; <keyword id="9171" type="General" weightage="80" keywordseo="anil-ambani" source="Orion">Anil Ambani</keyword> and his wife, Tina; and 98 others. The complaint cited the issue of two preferential placement of non-convertible debentures in 1994. SEBI had alleged that RIL along with Reliance Petroleum had circuitously funded the acquisition of its own shares in violation of the Sections 77 and 77A of the Companies Act, 1956. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/sebi-tightens-disclosure-norms-for-ipo-brings-mutual-fund-transactions-under-the-gambit-of-insider-trading-rules/articleshow/94577801.cms">SEBI tightens disclosure norms for IPOs, brings mutual fund transactions under the gambit of insider trading rules</a> <a href="https://www.businessinsider.in/tech/news/jio-will-launch-5g-for-the-entire-country-by-december-2023-mukesh-ambani/articleshow/94579338.cms">Jio will launch 5G for the entire country by December 2023: Mukesh Ambani</a>

SC to hear SEBI's review petition against RIL on Oct 12

<ul><li>Rising crude oil and gas prices during the last few quarters because of supply side constraints led by the Russia Ukraine crisis has benefited the oil producer to mint more money.</li><li><keyword id="6354737" type="General" weightage="20" keywordseo="ongc" source="Orion">ONGC</keyword> enters the elite club of top most profitable companies in India as it makes a profit of ₹40,305 crore in FY22.</li><li>The oil producer has surpassed Tata Steel, TCS and HDFC Bank to reach the second position wherein Reliance Industries holds top position.</li></ul>State-owned oil explorer ONGC beat two Tata group firms - TCS and Tata Steel to become India’s second most profitable company, after Reliance Industries, in FY22. Its record profits came in spite of decline in production for the last 11-18 quarters, aging fields, and lack of new discoveries. However, crude oil prices soared to almost $140 a barrel - making even its low output very valuable. ONGC contributes to 70% of India’s total oil and gas production. “A rally in global crude oil and natural gas prices is a key driving factor behind ONGC’s profitability,” said a report by YES Securities. It added that any moderation in crude prices will affect its cash flows as its capex requirement is very high to maintain production in its aging fields. ONGC reported a net profit of ₹40,305 crore for FY22 surpassing Tata Steel, by a decent margin. It also beat one of India’s most valuable companies - TCS in terms of profits - after crude oil prices soared. <div type="image" title="top 5 companies col (1)" height="900" width="1200" msid="91890739" hostid="261"></div>Taxes, sanctions and more to affect ONGC profitability As expected, this rise in profitability might be unsustainable, especially since analysts believe that Russia-Ukraine tensions could settle down, cooling off the soaring crude. “ONGC’s performance depends on how long geopolitical tensions persist as its profits are directly connected to crude oil prices,” Sanjiv Bhasin, executive vice president, markets &amp; corporate affairs at India Infoline, told Business Insider India. Bhasin believes that these tensions will ease by mid-July. As soon as crude prices come down, so will ONGC’s place in the list of most profitable companies. “Brent will not sustain the $110 kind of level. One or two years down the line, Brent will cool down. The two year future market also shows prices cooling off about $80-$90 per barrel range so that will definitely impact the margins for ONGC,” Anshuman Khanna, the founding director of Valpro, told Business Insider India. While the advantages of the war might go away soon, its effects - like sanctions on Russia - could remain and can affect ONGC’s fortunes negatively. <div type="image" title="ongc (1)" height="900" width="1200" msid="91890758" hostid="261"></div>The Russian connection ONGC’s international arm, ONGC Videsh owns stakes in multiple energy assets in Russia. One of the country’s gas producing assets Sakhalin-I has already shown signs of trouble as US major Exxon said that it would exit the block. ONGC has a 20% stake in it, along with interests in Sakhalin II, and Vankor fields in Siberia. “Russian assets are facing two issues -- one is the fact that Russian crude is trading at a discount about $10-$20 to Brent and second issue is repatriation of Russian dividend from these assets because of sanctions. It’s a real risk, which could jeopardize their entire Russian investment,” Anshuman Khanna, the founding directors of Valpro, told Business Insider. The Indian government too isn’t allowing the state-owned oil explorer to enjoy its profits either. It is believed to collect some of it in the form of a <a href="http://theres-a-strong-case-to-levy-windfall-taxes-11653810086031.html">windfall tax on oil producing companies.</a> Analysts at Citi call this tax threat an overhang. There is speculation that the government might impose a 25% tax on profits of oil and gas producing companies as crude prices have surged over 50% in 2022. The stock has gained over the last one year, but does not reflect the positive impact of crude oil on its profits. The sanction risk and taxes are making its short-lived story of profitability even less enticing to investors. <div type="image" title="ONGC profit" height="900" width="1200" msid="91890803" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/finance/banks/news/citi-kotak-icici-and-other-investment-banks-earned-2600-crore-through-ipos-last-year/articleshow/91887303.cms">Indian companies raised $14 billion via IPOs and their i-bankers made $300 million in fees</a>

ONGC beats Tata Steel, TCS to become India’s 2nd most profitable company - but Russian links may spoil the party

<ul><li>The Supreme Court on Thursday asked the Centre and the CBSE to issue fresh notification in connection with Class 12 exams, clarifying the option between internal assessment and exams later.</li><li>A bench comprising Justices A.M. Khanwilkar, Dinesh Maheshwari and Sanjiv Khanna asked the Centre to clarify the issue of taking the option between internal assessment and exams later.</li><li>The apex court also sought clarity on the beginning of the new academic year.</li></ul>The Supreme Court on Thursday asked the Centre and the CBSE to issue fresh notification in connection with Class 12 exams, clarifying the option between internal assessment and exams later. The observation from the top court after it was informed that the CBSE has decided to cancel the remaining board exams for Class 10 and Class 12. A bench comprising Justices A.M. Khanwilkar, Dinesh Maheshwari and Sanjiv Khanna asked the Centre to clarify the issue of taking the option between internal assessment and exams later. "Clarify the date of results," said the bench, noting that the CBSE will have to submit a fresh draft notification cancelling class 12 Board exams and affidavit on Friday morning, before the top court continues to hear the matter again at 10.30 a.m. The apex court also sought clarity on the beginning of the new academic year. It told Solicitor General Tushar Mehta, representing the Centre, that the CBSE is willing to conduct exams when the situation is conducive, but this may vary from state to state. "Will the decision be taken by a central authority or will the state government take the decision? How are you going to deal with that situation?" Mehta replied that the decision must be taken according to the situation. To this, the bench said should not the solution be pan-India? "You have not said when you will decide on this issue, and when you will take stock of these things. Some time frame will have to be given," noted the bench. Continuing its queries, the bench said: "What about state regional board exams... the CBSE does not hold all the exams. The state Board is also there." Mehta replied that the instructions from the controller of examinations are that exams are controlled centrally. "State boards assist the CBSE," he replied. The bench observed that the government should modify the draft notification and include the state board issue. "Clear the stand that decision will be taken at the central level and not at the state level... other courses will have to be delayed till CBSE exam results come out," it said. Mehta replied the assessment results will be published now, and if a student wants to opt to give the exam, then that will be conducted later. The top court asked Mehta to bring this on record and redraft the notification.

SC asks CBSE for more details on class 12's internal assessment and 'exams later' option

The <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> Monday asked the Karnataka High Court to decide the CCI plea for vacating stay on the investigation against e-commerce giants <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> for alleged anti-competitive practices. A bench comprising Justices A M Khanwikar, Dinesh Maheswari and Sanjiv Khanna asked the Competition Commission of India (CCI) to approach the High Court for relief. Solicitor General Tushar Mehta, appearing for the CCI said that the probe ordered against e-commerce companies was administrative in nature and would not affect the rights of any party. He sought keeping the petition pending saying there are several wider issues involved in the case. Senior advocate A M Singhvi, appearing for the e-commerce companies, said the CCI approached the top court after the delay of over 200 days. The bench said that the High Court would hear the matter and decide it within six weeks and added the petition may be revived if no decision is given by the High Court in the said period. On February 14, the High Court had granted an interim stay on the investigation ordered by the CCI against e-commerce companies Amazon and Flipkart. Amazon had moved the high court seeking a stay on the investigation ordered by the CCI. Flipkart also filed a petition in the High Court seeking to quash the order passed by the CCI directing a probe into allegations of anti-competitive conduct. In its plea, Amazon had sought quashing and setting aside the CCI's January 13, 2020 probe order, and had also prayed the court to provide relief based on "facts and circumstances of the case in the interest of justice". In its petition before the High Court, Amazon had contended that the CCI order had been passed "without application of mind" and would cause irreparable loss/ injury to the goodwill/reputation of the company if an investigation is allowed. The fair trade regulator CCI, in January, this year had ordered the probe against Flipkart and Amazon for alleged malpractices, including deep discounting and tie-ups with preferred sellers on their platforms. The order by CCI followed complaints filed by traders' bodies including by Delhi Vyapar Mahasangh, whose members comprise many traders dealing in smart phones and related accessories. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/kotak-mahindra-bank-q2-results-show-profit-up-by-27/articleshow/78869757.cms">Kotak Mahindra Bank still on ‘alert’ as profit improves 27% over the last three months</a> <a href="https://www.businessinsider.in/defense/news/nsa-ajit-doval-new-india-doctrine-declared-ahead-of-mike-pompeo-visit-to-india/articleshow/78868816.cms">National Security Advisor lays ‘New India’ doctrine ahead of Pompeo’s visit to India</a> <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-shares-rally-4-after-rumours-of-kotak-mahindra-bank-merger/articleshow/78867706.cms">IndusInd Bank shares rally 4% after promoters refute reports of merger with Kotak Mahindra Bank</a>

Supreme Court jumps in for Amazon and Flipkart after Karnataka High Court remains mum on investigation against their anti-competitive practices for over 200 days

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Defamation case: Supreme Court defers hearing on Arvind Kejriwal's plea to enable settlement by six weeks

PTI

Billionaires to Bollywood: All invited to Anant Ambani's pre-wedding festivities

PTI

SC to hear SEBI's review petition against RIL on Oct 12

IANS

ONGC beats Tata Steel, TCS to become India’s 2nd most profitable company - but Russian links may spoil the party

Bhakti Makwana

SC asks CBSE for more details on class 12's internal assessment and 'exams later' option

IANS

Supreme Court jumps in for Amazon and Flipkart after Karnataka High Court remains mum on investigation against their anti-competitive practices for over 200 days

PTI

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