 "Top headlines: Delhi HC relief for Future; NCLAT setback for Twin Star")
Delhi HC puts on hold arbitration proceedings between Amazon and Future
Delhi High Court on Wednesday halted Future Group's ongoing arbitration with estranged partner Amazon.com Inc in light of an Indian antitrust agency's suspension of a 2019 deal between the two sides.
The US company successfully used the terms of its 2019 investment in a Future unit to block the Indian retailer's attempt to sell retail assets to rival Reliance Industries, alleging breach of certain contracts. Read more
NCLAT sets aside NCLT approval of Twin Star's resolution plan for Videocon
The National Company Law Appellate Tribunal (NCLAT) has set aside the Mumbai bench of National Company Law Tribunal’s (NCLT) order approving the resolution plan submitted by Vendata’s Twin Star Technologies. It has remitted the matter back to Videocon’s committee of creditors (CoC) for fresh bids.
Bank of Maharashtra, Small Industries Development Bank of India (Sidbi), and IFCI had appealed against the NLCT order in NCLAT in July 2021, following which the appellate tribunal had stayed the NLCT order. Read more
TN govt announces more curbs, night curfew to contain Covid spread
To tackle the rising coronavirus cases, Tamil Nadu Chief Minister M K Stalin on Wednesday ordered fresh curbs which includes state-wide night curfew between 10 AM and 5 PM with effect from January 6.
A shutdown would be enforced on Sunday (January 9) and only 50 per cent occupancy shall be allowed in buses, suburban trains, and Metrorail, the government said. Read more
India reported over 6.3 times rise in Covid cases in last 8 days: Govt
The Centre on Wednesday said the upsurge of COVID-19 cases is happening in cities and the Omicron variant is the predominant circulating strain.
It also noted that the precautionary dose of Covid vaccine for healthcare and frontline workers as well as those above 60 years with comorbidities will be same as the first two doses of the vaccine. Read more
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