Yearly Archives: 2019

On Friday, the landmark Judgement in the Essar Steel case was passed by the Supreme Court of India, which gave priority to the financial creditors against the operational creditors. From the proceeds that will be generated from the liquidation process dues of the financial creditors will be released on a priority basis, and then the operational creditors will be paid.  Not only came the Essar ruling but also a new rule for the Bankruptcy law was notified. Ministry of Corporate Affairs has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The new rules have been notified, especially for the insolvency proceeding against the Financial Service Providers (FSPs) and will not include banks. The central government framed the rules for the insolvency that is initiated against the FSPs and mentioned that an insolvency proceeding against the FSPs could only be taken only when an appropriate regulator makes the application.

On November 12, 2019, the internet shutdown in Kashmir completed a full 100 days. There is news spurring from the valley that the journalists are out in protest, demonstrating against the internet clampdown which has severely affected their work. The views coming from the valley show the valley-based journalists holding placards at the Press Club in Srinagar. It is reported that the protesting journalists include employees of different organizations of both local and national news agencies.

Offices of Amnesty International India [AII] in Bengaluru and New Delhi were raided by the Central Bureau of Investigation [CBI], an independent investigating agency. As per reports that surfaced post the raid, it is being said that the international human rights organization has been raided for accusations concerning irregularities in the funds obtained via the Foreign Contribution Regulation Act [FCRA].

Last year on 14th November, Ranveer Singh & Deepika Padukone shook the entire world with their wedding pictures. Yesterday, on 14th November, the couple once again shook the world with their anniversary pictures. The two actors are extremely admired as a couple in the industry and by the fans. They have sparkling chemistry, adorable social media banter & gush worthy gestures for everyone.

In a recent turnout of events, Roger stone a long term ally of the US President Donald Trump has been found guilty on various counts of witness tampering and lying to the Congress by the court. It has been established that he lied to the Congress regarding his endeavours of the Russian-hacked emails, adversely affecting the 2016 election bid of Hillary Clinton. Stone, who has been the former advisor of Donald Trump was convicted on all seven counts, by way of an indictment which alleged of tampering witness, obstructing House investigation into the allegation of Russian coordinated Trump campaign and lying to the Congress in 2016.

The diplomacy of the Indian Ministry of External Affairs stands at a new frontier. At present, the Ministry of External Affairs is sweating in dealing with the propaganda going on internationally. The New York Times to international media fraternity has been running an anti-Muslim campaign in India.

The private sector is facing tremendous recession these days. The impact of the economic slowdown on many multinational companies is clearly visible. Reliance Communications (RCom), one of the country's leading companies, is also not untouched by this. Debt-ridden Reliance Communications (RCom) has a consolidated loss of around Rs 30,142 crore in the July-September quarter. In view of the decision on the statutory arrears by the Supreme Court, the company's losses have reached such a high level due to the provision for liabilities.

Recently a controversy spurred upon the question of the death of Mahatma Gandhi, the father of the nation. It surfaced the news because of a booklet published in a school at Odisha and the mass education department which says, the death of Gandhi was 'accidental'. It was a book with texts and pictures, widely circulated amongst all schools in the state of Odisha. It was a two-page booklet titled Aama Bapuji: Aka Jhalaka which in English translates to Our Bapuji: A Glimpse.

Do you know, if your keyless remote or FOB gets damaged or stolen, you will not get insurance for your car? Yes, your insurance can be rejected. You need to have all the keys to get the insurance amount. If it gets damaged or stolen, you may have to pay Rs 8000 for high-end cars like Hyundai Verna, Volkswagen Polo and Rs 1 lakh for premium cars like Jaguar or Fortuner which itself is a valid reason to get the insurance done.

In what is said to be unprecedented, the Delhi Police personnel in huge numbers took to the streets in protest. They laid a siege outside the police headquarters on November 05, 2019 and staged a virtual revolt as sparked in the scuffle at the Tis Hazari Court.