Adani-Hindenburg case: Lack of requirement to disclose ‘last natural person above every person’ owning economic interest in FPIs is the challenge, SEBI to SC

The Securities and Exchange Board of India (SEBI) clarified in the Supreme Court on July 10 that “challenges” presented by it before the six-member Justice A.M. Sapre expert committee in the Hindenburg-Adani allegations case did not emanate from the repeal of the “opaque structure” provisions from the Foreign Portfolio Investors (FPI) Regulations in 2019. The … Read more

Supreme Court to Sebi: Submit status of Adani probe within three months, not six

The Supreme Court on Wednesday asked Sebi to submit by August 14 the status of probe into Hindenburg’s allegations of stock price manipulations against Adani group companies but refused to convert the court proceedings into a roving inquiry, including investigations into the alleged role the LIC, which had invested a substantial amount in Adani companies. … Read more

Centre, States Have Equal Authority To Legislate On Gst: Supreme Court

The Supreme Court said on May 19 that the GST council’s recommendations were not binding on the Union and states. However, they do have a persuasive value because of the country’s cooperative federal structure. A bench of Justices DY Chandrachud, Surya Kant, and Vikram Nath also stated that the Centre and states had concurrent rights … Read more

SC slams Supertech for non-payment to home buyers

The Supreme Court on Wednesday slammed real estate developer Supertech over non-payment to the homebuyers for flats which were ordered to be demolished. A bench headed by Justice DY Chandrachud told Supertech to keep their office in order and to make the payment to home buyers by January 17. It said that no amount should … Read more

Supreme Court orders demolition of Supertech twin towers in Noida

Ordering the demolition of the 40-storey residential towers of Supertech in Noida, the Supreme Court on August 31 condemned the “dubious dealings” entered into by builders and authorities in metros across the country in brazen violation of the laws while showing scant concern about either the safety of the environment or the welfare of residents. … Read more