Apr 12, 2018 11:55 AM IST | Source: Moneycontrol.com
News Live: Justice Chelameswar expresses anguish, refuses to list PIL of ex-law min on allocation of cases
This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
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Justice Chelameswar expresses anguish, refuses to list PIL of ex-law min on allocation of cases
RBI Governor Urjit Patel rejects easing NPA norms: report
Dish TV promoter cos offer to buy 26% stake for Rs 3,701cr
Mahendra Singh Dhoni sues Amrapali group over Rs 150cr dues, says report
RBI’s 2016 probe had flagged concerns in ICICI Bank: report
Pope admits he made 'grave errors' in Chile sex abuse case
FIR registered against BJP MLA in Unnao rape case
IHH plans fresh cash bid for Fortis Healthcare, says report
Trump has not laid out timetable for Syria attack response: White House
House Speaker Ryan to quit, shaking Republicans as US elections near
Federal Reserve policymakers all saw strengthening eco, inflation: minutes
PNB says internal probe into $2bn fraud ongoing; more heads could roll
Navigation satellite INRSS-1I put into orbit
ArcelorMittal blames JSW Steel of making a 'mockery' of IBC
NSE to check legality of SGX move to list Indian derivative products
IMF Lagarde says Belt & Road progressing but warns of debt risks
Justice Chelameswar expresses anguish, refuses to list PIL of ex-law min on allocation of cases
The Supreme Court's most senior judge Justice J Chelameswar once again expressed his anguish over affairs in the apex court and refused to order listing of a PIL filed by former Union law minister Shanti Bhushan seeking formulation of guidelines on allocation of cases, reports PTI. In fast moving developments, advocate Prashant Bhushan, denied urgent listing of his father's PIL, rushed to Chief Justice Dipak Misra's court and mentioned the matter for listing expeditiously. The bench headed by CJI said, "We will look into it."
Bhushan initially mentioned the matter before Justice Chelameswar and said this was an emergency situation. He said he was referring the matter to Justice Chelameswar's bench as the PIL challenges the master of roster concept and the CJI can't deal with it. Justice Chelameswar said said the reasons were too obvious and he would not like to deal with the matter. His remarks came in the backdrop of two recent letters written by him and Justice Kurian Joseph over the affairs of the Supreme Court and alleged interference by the executive into judicial matters.
RBI Governor Urjit Patel rejects easing NPA norms: report
The Reserve Bank of India Governor Urjit Patel has ruled out any relaxation in bad loan rules, saying the tough norms will discipline borrowers and prevent banks from pushing distressed loans under the carpet, an Economic Times report states quoting two senior officials. This message was conveyed by Patel to parliamentarians in a closed-door meeting held in New Delhi on Tuesday.
Here are the top headlines at 11 am from Moneycontrol News' Sakshi Batra
Dish TV promoter cos offer to buy 26% stake for Rs 3,701cr
Promoter group entities of Dish TV have made an offer to buy an additional 26% equity stake from public shareholders of the direct-to-home (DTH) player for Rs 3,701 crore. The stock is up close to 4%.
Mahendra Singh Dhoni sues Amrapali group over Rs 150cr dues, says report
Former Indian cricket captain Mahendra Singh Dhoni is seeking to recover around Rs 150 crore from troubled real estate firm Amrapali Group, alleging that he hasn't been paid for years for being the brand ambassador, reports The Economic Times.
RBI’s 2016 probe had flagged concerns in ICICI Bank: report
The Reserve Bank of India had carried out a detailed scrutiny of the complaint against ICICI Bank’s dealings with Videocon Group two years ago but found no evidence of reciprocal benefit, stating the allegation ‘could not be conclusively established’, said a report by Economic Times. The RBI inquiry did flag some issues though it could not conclusively establish “the aspect of quid pro quo allegation of extension of facilities by ICICI Bank to Videocon”.
Pope admits he made 'grave errors' in Chile sex abuse case
Pope Francis has admitted he made ‘grave errors’ in judgment in Chile's sex abuse scandal and invited the victims he had discredited to Rome to beg their forgiveness, reports PTI. In an extraordinary public letter, Francis also summoned all of Chile's bishops to the Vatican for an emergency meeting in the coming weeks to discuss repairing the damage from the scandal, which has badly tarnished his reputation and that of the Chilean church.
Ola expands in Australia, begins service in Melbourne
Indian cab hailing firm Ola said it has started operations in Melbourne, expanding its services in the Australian market.
FIR registered against BJP MLA in Unnao rape case
The police have registered an FIR against Uttar Pradesh BJP MLA Kuldeep Singh Sengar in connection with the gangrape of a 17-year-old girl in Unnao district, reports PTI. The MLA has been booked under various sections of the Indian Penal Code (IPC) and provisions of the Protection of Children from Sexual Offences (POCSO) Act, Superintendent of Police (SP), Unnao, Pushpanjali Devi said.
Here are the top headlines at 10 am from Moneycontrol News' Anchal Pathak
Chennai Super Kings’ home games in the Indian Premier League 2018 will now be played at the Maharashtra Cricket Association’s International Stadium in Pune, reports ANI.
Unnao rape case: UP govt decides to hand over probe to CBI
The Yogi Adityanath government has decided to hand over the probe into the Unnao rape case to the CBI. On Wednesday, a BJP MLA who is among the accused made a dramatic appearance before the police but refused to surrender.
Market consolidates amid higher crude oil prices
The market continues to consolidate amid sharp spike in crude oil prices, as investors look for corporate earnings that will begin tomorrow and macro data due later in the day. The Sensex reclaims 34,000 levels and the Nifty is hovering around 10,400 amid consolidation. Brent crude oil hit 2014 highs of $73.09 a barrel in Wednesday’s session, but cooled off a bit from that level to trade around $72.35 a barrel today. Oil retailers BPCL, HPCL and IOC are down over a percent while IT stocks are up 3% on the back of a fall in the rupee against the dollar.
Sushil Kumar, two others enter final at CWG wrestling
Double Olympic-medallist Sushil Kumar (74kg), Babita Phogat (53kg) and Rahul Aware (57kg) have entered the finals on the opening day of Commonwealth Games' wrestling competition, reports PTI. In athletics, Arpinder Singh made the men's triple jump final. For more updates from the Commonwealth Games, click here...
IHH plans fresh cash bid for Fortis Healthcare, says report
IHH Healthcare is preparing to formally approach Fortis Healthcare with an offer, sources told Bloomberg. The company is contemplating a cash offer for Fortis and plans to send a letter to the hospital operator’s board within the next couple of weeks with its bid details.
Trump has not laid out timetable for Syria attack response: White House
The White House said that President Donald Trump has not laid out timetable for action in response to a suspected chemical attack in Syria, despite his note on Twitter that missiles ‘will be coming’ and Russia should ‘get ready,’ reports Reuters. White House spokeswoman Sarah Sanders said Trump had a number of options, not just military, that all options were still on the table and he was assessing how to respond.
House Speaker Ryan to quit, shaking Republicans as US elections near
US House of Representatives Speaker Paul Ryan will not seek re-election and will leave his post at the start of 2019, dealing a blow to fellow Republicans and President Donald Trump ahead of fast-approaching congressional elections, reports Reuters.
Federal Reserve policymakers all saw strengthening eco, inflation: minutes
All of the Federal Reserve’s policymakers felt that the US economy would firm further and that inflation would rise in the coming months, minutes of the central bank’s last policy meeting on March 20-21 released on Wednesday showed. The readout of the meeting, at which the Fed unanimously voted to raise borrowing costs by a quarter percentage point, also showed that policymakers were wary about the impact of the Trump administration’s trade and fiscal policies.
PNB says internal probe into $2bn fraud ongoing; more heads could roll
Punjab National Bank (PNB) is conducting an internal investigation into an alleged $2 billion fraud and more heads could roll, its chief executive Sunil Mehta told Reuters.
Navigation satellite INRSS-1I put into orbit
The Indian Space Research Organisation's navigation satellite INRSS-1I was launched by PSLV-C41 from the spaceport in Sriharikota, Andhra Pradesh and successfully placed in the designated orbit, reports PTI.
Squash | Indian squash pair of Joshna Chinappa and Harinder Ral Sidhu lead by 1 against New Zealand's Amanda Landers-Murphy and Zac Millar.
ArcelorMittal blames JSW Steel of making a 'mockery' of IBC
Taking its rivalry with JSW Steel on to Twitter, ArcelorMittal tweeted that the Sajjan Jindal company's bid for Monnet Ispat is against the Insolvency and Bankruptcy Code's (IBC) Clause 29A, and is a ‘mockery’. On Tuesday, lenders of Monnet Ispat had approved JSW Steel's bid for the company. The Sajjan Jindal company had bid along with AION Investments.
Exclusive: Ranjan Pai calls revised Fortis’ offer 'compelling', says can't be an 'irrational bidder'
Ranjan Pai, the Chairman of Manipal Hospital, believes the revised bid to buy Fortis Healthcare is a ‘compelling offer’ that addresses most of the concerns raised by the shareholders in terms of structure, valuation, and how much of dilution they have in the combined entity. Pai told Moneycontrol News’ Viswanath Pilla that investor mood has been positive after the revised offer to Fortis and the chances of deal crossing the finish line are much better now.
NSE to check legality of SGX move to list Indian derivative products
Following Singapore Exchange’s (SGX) announcement regarding listing of Indian equity derivative products in June, the National Stock Exchange (NSE) said it will examine if these products are compliant and legally permissible with respect to its February 9 statement.
IMF Lagarde says Belt & Road progressing but warns of debt risks
International Monetary Fund Managing Director Christine Lagarde said China’s Belt and Road initiative is showing signs of progress but warned of potential debt risks for partner countries involved in joint projects, reports Reuters. One challenge is to ensure that Belt and Road only travels where it is needed, and the second is to focus on sound fiscal policies, Lagarde stated.