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Delhi HC Summons SpiceJet MD Ajay Singh in dispute over Arbitral Award
DDA Urges Agencies: Clear Yamuna Floodplain Debris by June
The Delhi Development Authority (DDA) has issued notices to several agencies, including the National Highways Authority of India (NHAI), Public Works Department, National Capital Region Transport Corporation (NCRTC), Delhi Metro Rail Corporation (DMRC), and the Delhi Jal Board, directing them to clear construction waste and debris accumulated during projects on the Yamuna floodplain by the end of June.
In alignment with directives from the Delhi High Court issued on April 8, the DDA has taken proactive steps to ensure the removal of debris and waste generated from various construction ..
Delhi HC Denies Extension of Interim Bail, Orders Unitech's Founder to Surrender in ED Case
The Delhi High Court has declined to extend interim bail for Unitech's founder in a case filed by the Enforcement Directorate (ED), instructing him to surrender. This decision marks a pivotal development in the ongoing legal battle and underscores the court's commitment to upholding the rule of law.
The refusal to grant an extension of interim bail underscores the seriousness of the allegations and the court's determination to ensure a fair and expeditious trial. By ordering the founder of Unitech to surrender, the court reaffirms the principle of accountability and the need for individ..
Delhi HC orders SpiceJet to pay Rs 500 mn in Maran-KAL airways dispute
The Delhi High Court instructed SpiceJet, led by Ajay Singh, to make a payment of Rs 500 million to KAL Airways within six weeks. This ruling is in connection with an arbitration award obtained by the airline's former promoter, Kalanithi Maran, and KAL Airways.
The court's directive is contingent upon the resolution of an appeal filed by SpiceJet, challenging the interest amount specified in the arbitration award. The case is scheduled for further hearing on May 14.
The origin of the case can be traced back to January 2015, when Ajay Singh, the current owner of the airline, rep..
IIFCL's FY24 disbursement surges 62% to Rs 223.56 bn
The state-owned India Infrastructure Finance Company announced a disbursement of Rs 223.56 billion in the fiscal year 2023-24 (April-March), marking a 62% increase compared to the previous year. This surge indicated a heightened demand for longer tenure financing within the infrastructure sector. As of March 2024, the cumulative disbursement on a consolidated basis amounted to about Rs 1.48 trillion.
During a post-earnings press conference, Padmanabhan Raja Jaishankar, the Managing Director of IIFCL, stated that the proportion of completed and operational assets had been steadily g..
Biden's Tariffs Signal U.S. Trade Policy Shift
In a significant move signaling a strategic shift in U.S. trade policy, President Joe Biden has announced new tariffs targeting a range of Chinese clean tech exports. This move comes amidst a backdrop of increasing tensions between the world's two largest economies and a growing emphasis on decarbonization efforts globally.
The escalation of tariffs, particularly on goods such as Chinese electric vehicles and solar cells, underscores Biden's aim to address both climate change and the need to reduce dependency on Chinese manufacturing. While some may view these tariffs as primarily symb..
