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Commercial Dispute
Broadband technology firm Sterlite Technologies has agreed to pay USD 4,67,400 (about Rs 4 crore) to the Data Management Centre for dispute settlement, a regulatory filing said on Monday. Data Management Centre had claimed damages worth USD 2.7 million (about Rs 23 crore) before Singapore International Arbitration Centre against Sterlite Technologies (STL) for delay and failure by the broadband technology to meet obligations under their agreement. "Without admission of liability, a Settlement Agreement was executed between the Parties wherein Sterlite agrees to pay DMC a net sum of USD 4,67,400 towards full and final settlement of all claims between the parties," the filing said. STL is engaged in the business of manufacturing and selling optical fibre cables. Shares of the company closed at 131.15 apiece, down by 0.3 per cent at BSE on Monday.
The High Court of Bombay at Goa has ordered a panchayat to stop operations of 175 commercial establishments, including many restaurants and lodges, along the popular Anjuna beach over lack of permissions from various authorities. The division bench of Justices Valmiki Menezes and Mahesh Sonak on Tuesday directed the Anjuna-Caisua panchayat to stop the commercial operations of the structures immediately. The reason for the stoppage of commercial activities through the above 175 structures is that any permissions or clearances from the Town and Country Planning authorities back none of these structures, the Judges said. None of these structures have any completion or occupancy certificate. None of these structures are cleared from the perspective of fire safety, discharge of sewerage, etc, the Bench said. Of these commercial set-ups, the court observed, 45 have some sort of clearance from the Goa Coastal Zone Management Authority (GCZMA). Similarly, about 130 of these 175 structures
With the strike of commercial drivers entering third day in Odisha, passenger bus services, and transportation of petroleum products and milk were affected across the state. The Odisha Drivers' Mahasangha announced continuance of its stir even as the state transport commissioner Amitabh Thakur expressed optimism that the agitation would end soon. Drivers across the country were on strike over the recently enacted hit-and-run' Law under the Bharatiya Nyay Sanhita (BNS), which replaces the colonial-era Indian Penal Code (IPC). The Mahasangh is part of the All-India strike. "Our strike will continue as discussions are still underway with both the state and Central governments," Mahasangha president Prashant Menduli told reporters. The drivers also said that there was a provision for imprisonment of two years under Section 304 of the IPC for accidents. As per the provisions in the BNS, drivers who cause a serious road accident by negligent driving and run away without informing police