The Supreme Court on Monday appointed former apex court judge Justice R V Raveendran as a mediator to settle the family property dispute involving businessman and former IPL head Lalit Modi and his mother Bina Modi. The apex court observed that counsel appearing for both sides agreed that they would go without any pre-condition and with an open mind to settle the dispute in mediation. “….We also think the issue can be resolved by way of mediation,” a bench headed by Chief Justice N V Ramana said. “Accordingly, we appoint Justice R V Raveendran, a retired judge of this court, to mediate and settle the dispute,” said the bench, also comprising justices Krishna Murari and Hima Kohli.
Posts tagged Rediff
Record Rs 1.5 lakh cr from 5G spectrum sale; Jio tops (01-08-2022)
A record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold in a seven-day auction ending on Monday, which saw billionaire Mukesh Ambani’s Jio emerging as the top bidder to consolidate its leadership position. Sources with direct knowledge of the matter said provisional data puts the total bids at Rs 150,173 crore. The mop-up from the 5G spectrum, capable of offering ultra-high speed mobile internet connectivity, is almost double at Rs 77,815 crore worth 4G airwaves sold last year and triple of Rs 50,968.37 crore garnered from a 3G auction in 2010.
GST revenue rises 28% to Rs 1.49 lakh cr in July (01-08-2022)
GST collections rose 28 per cent to Rs 1.49 lakh crore on an annual basis in July on the back of economic recovery and measures taken to curb tax evasion, the government said on Monday. In July, 2021, Goods and Services Tax (GST) collections stood at Rs 116,393 crore. The collections in July this year is the second highest since the introduction of GST in July 2017, the ministry said in a statement.
Manufacturing activity touches 8-month high in July (01-08-2022)
India’s manufacturing sector activity hit the highest level in eight months in July, driven by a significant rise in business orders, a monthly survey said on Monday. The seasonally adjusted S and P Global India Manufacturing Purchasing Managers’ Index rose from 53.9 in June to 56.4 in July, reflecting the strongest improvement in the health of the sector in eight months. The July PMI data pointed to an improvement in overall operating conditions for the 13th straight month.
‘We expect GDP growth to moderate’ (01-08-2022)
‘As we expect the economy to continue to grow above the trend line, we expect capex decisions to be taken next year when there is more certainty about the cost of funding and the economy.’
RBI likely to raise key policy rate by at least 35 bps (01-08-2022)
Days after the US Fed raised the interest rate, the RBI may go in for its third consecutive policy rate hike by at least 35 basis points to check high retail inflation, experts said. The central bank has already announced to gradually withdraw its accommodative monetary policy stance. The Reserve Bank of India’s rate-setting panel — the Monetary Policy Committee — will meet for three days from August 3 to deliberate on the prevailing economic situation and announce its bi-monthly review on Friday.
The Falling Rupee: MUST READ Interview (01-08-2022)
‘… as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.’
Govt expects 5G rollout in early Oct: Vaishnaw (30-07-2022)
The government expects the rollout of 5G services to start from early October in the country, Union minister Ashwini Vaishnaw said on Saturday. “As soon as the spectrum auction ends, within a few days itself, we will allocate the spectrum. “We expect that the 5G roll-out will happen from the beginning of October and within a year or so, we should have a good rollout in the country,” the Union Minister for Communications, Electronics and Information Technology Ashwini Vaishnaw told reporters in New Delhi.
India’s rice production may be hit by poor rainfall (30-07-2022)
Trade and market players have already started factoring in at least 10 million tonnes drop in production in rice in the kharif season as compared to last year due to delayed sowing.
Core sector output expands by 12.7% in June (29-07-2022)
The production growth of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — was 19.3 per cent in May 2022, the data showed. In June, the output of coal, refinery products, fertiliser, cement and electricity rose by 31.1 per cent, 15.1 per cent, 8.2 per cent, 19.4 per cent, and 15.5 per cent, respectively.