SC asks states to pay Covid death compensation to families in 10 days

 The apex court said that the endeavour of legal services authority would be to reach to those sufferers/victims who have yet not approached for whatever reasons

The Supreme Court Friday directed all states governments and Union Territories to appoint dedicated nodal officer to coordinate with the member secretary of the state legal service authority (SLSA) to facilitate payment of ex gratia compensation to family members of COVID-19 victims.

A bench comprising Justices M R Shah and B V Nagarathna also directed the state governments to give full particulars like name, address and death certificate to the concerned SLSA, as also complete details with respect to orphans, within one week from today (Friday) failing which the matter shall be viewed very seriously.

The top court reiterated that applications seeking compensation should not be rejected on technical grounds and if any technical glitch is found, the states concerned should give them opportunity to cure defects as the ultimate goal of the welfare state is to provide some solace and compensation to victims. States should make all endeavours to pay the compensation to the victims within a maximum period of 10 days from the receipt of the claim, it said….Read More

Supreme Court to begin hearing SBI’s plea against Anil Ambani today

A banker said Ambani has objected to the SBI invoking personal guarantees under the Corporate Debtors Regulations, 2019

Indian lenders are keenly watching the outcome of a petition filed by State Bank of India (SBI) in the Supreme Court, which invoked the personal guarantees of Anil Ambani. The SC will hear the petition from Thursday. A banker said Ambani has objected to the SBI invoking personal guarantees under the Corporate Debtors Regulations, 2019. Till November, the IBC only covered Indian companies and not promoters. The new rules are applicable against the personal guarantors given to loans above Rs 1,000 crore or more by promoters.

“As Ambani’s will be the first case where personal guarantees have been invoked and is now in SC, it will decide the fate of 40 other top defaulters who were sent to NCLT since IBC law came into effect in 2017,” said a banker. In its petition to the SC, SBI said several promoters have moved the Delhi High Court after their personal guarantees have been invoked. The fate of dues worth Rs 45,000 crore, including to the Chinese banks, will be decided by the NCLT where the matter is still pending, and the personal guarantee matter will be heard by the top court.

On September 7, the SBI also invoked the personal guarantees of Sanjay Singal, promoter of Bhushan Power & Steel, as the company defaulted to loans worth Rs 48,000 crore. The debt resolution of the company is almost ready in the NCLT, with JSW Steel declared the highest bidder with a Rs 19,700-crore offer. The matter is currently pending in the SC after JSW Steel sought its intervention on not holding the firm liable for any criminal acts of the previous promoter. The SC will come out with its verdict on this issue this month.

Asset sale to Jio at risk from govt’s Rs 29-bn demand, RCom tells SC

Govt refuses to approve RCom’s spectrum sale to Jio until a bank guarantee is given by either firm

BS | Billionaire Anil Ambani’s Reliance Communications (RCom) told Supreme Court on Monday that its asset sale to Reliance Jio Infocomm may not go through if approvals aren’t in place by mid-December, putting at risk planned debt repayments by the distressed company.

The government, however, reiterated its stand in the Supreme Court that it could not grant an approval to RCom for spectrum sale to Jio until a bank guarantee of Rs 29.4 billion was given to it by either company toward spectrum usage charges.|Rcom Asset Sale

RCom, on the other hand, said that it was not in a position to furnish the said bank guarantee and that it had already given land worth nearly Rs 14 billion as security for the government’s dues. But the government refused to use the land given to it as security by RCom and said it would prefer a bank guarantee.

“If the spectrum sale is not approved, banks will also not get anything,” Kapil Sibal, a lawyer representing RCom, said in court said on Monday.

The top court was hearing a plea moved by the department of telecommunications (DoT) on Monday. In its petition, DoT told the Supreme Court that the Centre was looking for some kind of security from the company before it could allow the spectrum sale.

Click here: Business Standard

Asset sale to Jio at risk from govt’s Rs 29-bn demand, RCom tells SC

Govt refuses to approve RCom’s spectrum sale to Jio until a bank guarantee is given by either firm

BS | Billionaire Anil Ambani’s Reliance Communications (RCom) told Supreme Court on Monday that its asset sale to Reliance Jio Infocomm may not go through if approvals aren’t in place by mid-December, putting at risk planned debt repayments by the distressed company.

The government, however, reiterated its stand in the Supreme Court that it could not grant an approval to RCom for spectrum sale to Jio until a bank guarantee of Rs 29.4 billion was given to it by either company toward spectrum usage charges.|Rcom Asset Sale

RCom, on the other hand, said that it was not in a position to furnish the said bank guarantee and that it had already given land worth nearly Rs 14 billion as security for the government’s dues. But the government refused to use the land given to it as security by RCom and said it would prefer a bank guarantee.

“If the spectrum sale is not approved, banks will also not get anything,” Kapil Sibal, a lawyer representing RCom, said in court said on Monday.

The top court was hearing a plea moved by the department of telecommunications (DoT) on Monday. In its petition, DoT told the Supreme Court that the Centre was looking for some kind of security from the company before it could allow the spectrum sale.

Click here: Business Standard

Upcoming bank and government exams in 2017

The candidate should be careful while filling out the application

More than 1.5 crores candidates took up the bank exams of IBPS (Institute of Banking Personnel Selection) in the last three years and vacancies in the Indian banks equaling 68000 were occupied.

When it comes to making a career choice that promises security and financial stability, bank jobs in India have always been roped in first. Public sector banks are getting a tough competition from private banks. As a result, they are reaching out to rural and semi-urban areas. Despite the rise of Information Technology, millions of people still prefer bank jobs and apply for various positions in public sector banks.

Here’s the list of upcoming bank exams and jobs in 2017. It also features other government exams.

Listed are the important details regarding the bank exams and jobs for the year 2017-18: | Read More

Why no category for those who couldn't exchange notes by Dec 30, asks SC

Of Rs 15.4 lakh cr worth of currency that was banned, Rs 14 lakh cr has been deposited or exchanged

 

LATEST| The Supreme Court on Tuesday asked the Centre why it chose not to create a separate category for those who couldn't deposit demonetised notes by December 30, 2016 unlike the NRIs and people who were abroad.

A bench headed by Chief Justice J S Khehar said that the Prime Minister, in his November 8 address, had said that those with valid reasons could deposit the demonetised currency even after December 30, 2016, till March 31, 2017.

"Prime Minister in his address had said that people with genuine difficulties can deposit the demonetised currency even after December 30, 2016, till March 31, 2017 with the RBI branches.Give us the reasons why despite having powers under the law, you did not create a category for those people who couldn't deposit the demonetised notes before December 30, 2016" the bench said.

The apex court bench also comprising Justices D Y Chandrachud and S K Kaul said that the PM's address had given hope that those in difficulty would get a chance, till March 31, 2017, after giving valid reasons.

It also said that the government should file an affidavit by April 11 explaining the reason why the window was not created for the people having difficulty and the chance was only given to NRIs and the citizens who travelled abroad.

The SC also asked the Centre whether it intends to give a chance to those category of..... |Read More