SUPREME COURT

Cinema halls can set terms for sale of food and beverages inside premises: Supreme Court (JAN 3, 2023)

In a relief for listed multiplex companies, the Supreme Court on Tuesday said that cinema halls have the right to prohibit the carrying of food and beverages from outside.  It, however, said that multiplexes should allow parents to bring food for infants & children and provide free drinking water.

The Supreme Court pronounced its verdict on a batch of pleas filed by theatre owners of Jammu and Kashmir and the Multiplex Association of India challenging a J&K High Court order which prevented moviegoers from carrying their own food and beverages into movie halls.

NEWS REPORT : cinema theatres: Cinema halls can set terms for sale of food and beverages inside premises: Supreme Court - The Economic Times (indiatimes.com)

BOMBAY HIGH COURT

Loan fraud case: Bombay High Court seeks CBI’s reply to Kochhars’ plea seeking release (JAN 3, 2023)

ICICI Bank and Chanda Kochhar have been under regulatory scrutiny after The Indian Express first reported on March 29, 2018, that Videocon’s Dhoot provided crores of rupees to a firm he had set up with Deepak and two relatives, six months after his firm got a Rs 3,250-crore loan from ICICI Bank in 2012.

In 2019, the CBI lodged an FIR against the Kochhar couple, Dhoot and firms, including Nupower Renewables and Videocon Industries, for allegedly cheating ICICI Bank of Rs 1,730 crore until March 2012.  The case was filed under sections of the Indian Penal Code and the Prevention of Corruption Act. 

NEWS REPORT : Loan fraud case: Bombay High Court seeks CBI’s reply to Kochhars’ plea seeking release (msn.com)

SEBI

Sebi issues Rs 48.15 cr demand notice to Singh brothers, 5 others in Religare Finvest fund diversion case (JAN 3, 2023)

Sebi on Tuesday sent a notice to 7 entities, including Malvinder and Shivinder Mohan Singh, asking them to pay Rs 48.15 crore within 15 days in a fund diversion case of Religare Finvest.

The case relates to the diversion of funds to the tune of Rs 2,473.66 crore of Religare Finvest Ltd (RFL), a subsidiary of Religare Enterprises Ltd (REL), during FY 2014-15 till FY 2017-18, in the garb of loans through layers of entities for the ultimate benefits of entities controlled by the erstwhile promoters -- Singh brothers.  Sebi noted that these diverted funds never came back to RFL.

DETAILS : Sebi issues Rs 48.15 cr demand notice to Singh brothers, 5 others in Religare Finvest fund diversion case (msn.com)

NEWS AT GLANCE

  • Centre constitutes High Powered Committee to discuss measures to protect Ladakh's unique culture, language and employment.
  • India's manufacturing output rises to 13 month high in December.
  • Prime Minister Narendra Modi inaugurates 108th Indian Science Congress;  
  • Defence Minister Rajnath Singh inaugurates Siyom bridge in Arunachal Pradesh, along with 27 other infrastructure projects.  
  • President Droupadi Murmu inaugurates Samvidhan Udyan in Jaipur;
  • Supreme Court says, statement made by a Minister cannot be vicariously attributed to Government.

WORD OF THE DAY

Pari passu - On an equal footing.

MARKET TODAY (as on 3.01.2023)

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1 US Dollar = 82.81 Indian Rupee (Last updated · 3 January at 3:16 pm UTC)

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