Apex Court to hear Subrata Roy’s petition challenging his detention in judicial custody on Thursday

The Supreme Court will hear the plea by Sahara group chief Subrata Roy challenging the court's March 4 order sending him to judicial custody, which he described as illegal, on Thursday.The Bench comprised of Justice K.S. Radhakrishnan and Justice Jagdish Singh Khehar said they would hear the matter on Thursday as they have to go through the pleadings.Seeking his release forthwith, Roy in his plea sought the setting aside of the March 4 order saying it was illegal.As the hearing commenced,...

Madras HC dismisses petition seeking CBI probe against Anil Ambani

The Madras High Court yesterday, dismissed a petition seeking direction to the CBI to register a case against Anil Ambani and others in connection with an alleged "large scale financial scam".Dismissing the petition, Justice R S Ramanathan of the Madurai bench of the Madras High Court said the complaint filed by A Kesavan, an advocate and an investor in Reliance Natural Resource Ltd (RNRL) against Ambani and some officials alleging the company had cheated the investors could not be accepted.The...

SC orders non-bailable warrant against Subrata Roy

Sahara chief Subrata Roy has been issued a non baliable warrant for not to appear before the Supreme Court in the suit in which his two companies have been ordered to refund Rs 20,000 crore to investors."We had already declined yesterday Roy's plea seeking exemption from personal appearance. He has not appeared even today and we are issuing non bailable warrant returnable for March 4," voiced a bench comprising justices K S Radhakrishnan and J S Khehar.At the outset when senior...

Sahara chief Subrata Roy, other directors to appear in court on February 26 as per Supreme Court orders

A Supreme Court bench of justices K S Radhakrishnan and J S Kheharshowing dissatisfaction on the Sahara group for not repaying rupees 20,000 crore of investors money despite its order, besides permitting SEBI to go ahead with the sale of companies’ properties, summoned its chief Subrata Roy to be personally present before it.The apex court also directed Ravi Shankar Dubey, Ashok Roy Choudhary and Vandana Bhargava, directors of its firms, Sahara India Real Estate Corp Ltd (SIREC) and Sahara India...

No use of word National, Bank & stock exchange in the names of Companies/LLPs

Taking a note of the instances where private entities are using the word 'National' in names while setting up companies or LLPs, the Corporate Affairs Ministry has come up with a latest move by stating that companies and limited liability partnership firms floated by private entities should not use the word 'National' in their names. Likewise, the Ministry has said only after no-objection certificates are received from concerned sectoral regulators, that words such as 'Bank', 'Stock Exchange'...