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1. 'Tax evasion' case: Anil Ambani gets interim protection from coercive action under Black Money Act

'Tax evasion' case: Anil Ambani gets interim protection from coercive action under Black Money Act

'Tax evasion' case: Anil Ambani gets interim protection from coercive action under Black Money Act - Litigation - 2 min read 'Tax evasion' case: Anil Ambani gets interim protection from coercive action under Black Money Act Ambani, in his plea, said certain provisions of the (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, were "ultra vires" (beyond the powers/violative) to the Constitution of India. Mumbai, The Bombay High Court has granted interim protection from prosecution and penalty to industrialist Anil Ambani in an alleged tax evasion case, while admitting his petition challenging the constitutional validity of provisions of the Black Money Act. Ambani, in his plea, said certain provisions of the (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, were "ultra vires" (beyond the powers/violative) to the Constitution of India. A bench of Justices B P Colabawalla and Firdosh Pooniwalla on Tuesday noted that there are other petitions filed in HC against the Act and admitted Ambani's plea, which will be taken up for final hearing in due course. The court directed the Union government to file its affidavit in response to the plea. The HC noted that an assessment order against Ambani has already been passed and that he has filed an appeal before the Commissioner of Income Tax (Appeals). "The said appeal can proceed and orders can be passed thereon. However, we clarify that no coercive action shall be taken against the petitioner, including that of prosecution and penalty, till the hearing and final disposal of this writ petition," the HC said.

2. Flat buyers entitled to interest under RERA for each month’s delay: Bombay HC

Flat buyers entitled to interest under RERA for each month’s delay: Bombay HC - Litigation - 3 min read Flat buyers entitled to interest under RERA for each month’s delay: Bombay HC Bombay High Court

3. Lilavati Trust's defamation plea against HDFC rejected

Lilavati Trust's defamation plea against HDFC rejected

Lilavati Trust's defamation plea against HDFC rejected - Litigation - 2 min read Lilavati Trust's defamation plea against HDFC rejected Bank' HC Fines Trust 5L HC junks Lilavati trust plea against HDFC Bk, its MD | page 1 Bombay HC has dismissed an interim plea filed by the medical trust that runs Lilavati Hospital seeking curbs on HDFC Bank, its MD- CEO S Jagdishan and others making defamatory remarks against it or its members. Calling the bank's statements in the Rs 1,000cr defamation case accurate, HC imposed a Rs 5 lakh cost on the trust. Lilavati Trust's defamation plea against HDFC rejected | page 5 Mumbai: The Bombay High Court on Tuesday dismissed an interim plea filed by the medical trust that runs Lilavati Hospital here, seeking to restrain the HDFC Bank, its managing director and CEO Sashidhar Jagdishan and others from making any defamatory remarks against the trust and its members. The Lilavati Kirtilal Mehta Medical Trust had filed the interim application in a defamation suit seeking Rs 1,000 crore damages from the bank, alleging that it and its senior executives had allegedly released statements to the media and also on its social media platforms that were defamatory and harmed the reputation of the trust. A bench of Justice Somasekhar Sundaresan, while dismissing the application, however, noted that the statements were not defamatory and were in fact factually accurate. The court also imposed a cost of Rs 5 lakh on the trust, which would have to be paid to the HDFC Bank, while noting that the application was just another plea in the long chain of proceedings initiated by the trust to derail the recovery proceedings. The bench added that the statements made by HDFC Bank that the trust and its trustee Prashant Mehta owe the bank money was factually correct and hence fall within the realm of truthful…

4. Nuvama gets Sebi nod to launch mutual fund business

Nuvama gets Sebi nod to launch mutual fund business

Nuvama gets Sebi nod to launch mutual fund business - Corporate & Business - 1 min read Nuvama gets Sebi nod to launch mutual fund business New Delhi, Nuvama Wealth Management Ltd on Wednesday said it has received final approval from markets regulator Sebi to commence mutual fund operations through its asset management arm, Nuvama Asset Management. The approval paves the way for the company to establish its mutual fund business and expand its asset management offerings. Nuvama said its asset management company will initially seek regulatory approvals to launch investment products under the Specialised Investment Fund (SIF) framework, followed by a broader range of mutual fund products over time. In a statement, the company said the development strengthens its position as an integrated wealth and asset management platform and will enable it to offer a wider range of investment solutions across investor segments. The company plans to begin with Specialised Investment Funds, leveraging its experience in managing differentiated public market strategies, he added. As of March 2026, Nuvama managed total client assets of over Rs 4.5 lakh crore and served more than 13 lakh affluent, high-net-worth and ultra-high-net-worth clients, along with over 4,750 wealthy families across India. Its alternative asset management business had client assets exceeding Rs 12,500 crore as of March 31, 2026. Nuvama said it is entering the mutual fund industry at a time when the sector's assets under management have crossed Rs 80 lakh crore, supported by rising retail participation, increasing financial awareness and growing adoption of systematic investment plans (SIPs).

5. Sebi proposes consolidated disclosure of executive pay at asset managers

Sebi proposes consolidated disclosure of executive pay at asset managers - Regulators - 1 min read Sebi proposes consolidated disclosure of executive pay at asset managers - Published On Jun 10, 2026

Sebi proposes consolidated disclosure of executive pay at asset managers

Sebi proposes consolidated disclosure of executive pay at asset managers - Regulators - 1 min read Sebi proposes consolidated disclosure of executive pay at asset managers - Published On Jun 10, 2026 at 02:26 PM IST Indian asset management companies can disclose executive and high-earner pay on a consolidated basis instead of on an individual basis, the country's markets regulator proposed on Wednesday. The Securities and Exchange Broad of India proposed that AMCs may disclose consolidated remuneration of executive level employees and the total number of such employees. SEBI said the proposed approach would give investors in the funds of AMCs a broader view of senior management compensation. The regulator said the proportion of employees covered under the current framework is limited, ranging from about 2% to 10% of total employee base in 36 of 51 AMCs analysed. The regulator also proposed allowing investors to seek scheme-level disclosure of the total remuneration paid to fund managers of schemes they are invested in. SEBI has sought comments from the public by June 30. - By Online Bureau, - Reuters - Published On Jun 10, 2026 at 02:26 PM IST All Comments By commenting, you agree to the Prohibited Content Policy PostBy commenting, you agree to the Prohibited Content Policy PostFind this Comment Offensive? Choose your reason below and click on the submit button. This will alert our moderators to take actionsJoin the community of 2M+ industry professionals.

1. Ramchandra Dallaram Choudhary vs. Adani Infrastructure and Developers Private Limited (01.06.2026 - SC)(MANU/SC/0621/2026)

The Supreme Court of India addressed an appeal by Ramchandra Dallaram Choudhary against Adani Infrastructure and Developers Private Limited, focusing on whether delays in filing and re-filing an appea

2. Reliance General Insurance Company Ltd. vs. Avtar Singh and Ors. (23.03.2026 - SC)(MANU/SC/0618/2026)

The Supreme Court of India addressed the dispute between Reliance General Insurance Company Ltd. and Avtar Singh regarding the enhancement of compensation by the Delhi High Court for injuries sustaine

3. Gajula Thirupathi vs. The Telangana State Level Police Recruitment Board and Ors. (21.05.2026 - SC)(MANU/SC/0617/2026)

The Supreme Court of India addressed the issue of whether Gajula Thirupathi's provisional selection as a police constable could be canceled due to past criminal charges, despite the case being compoun

4. Seesa Santosh vs. The State of Telangana and Ors. (04.06.2026 - SC)(MANU/SC/0616/2026)

The Supreme Court of India addressed the dispute between Seesa Santosh and the State of Telangana regarding the High Court's decision allowing Respondent No. 2 to travel to the USA despite pending cri

5. Sahil Abdulsattar Mansuri and Ors. vs. Safimahamad Fafirbhai Mansuri and Ors. (04.06.2026 - SC)(MANU/SC/0615/2026)

The Supreme Court of India addressed the issue of an inordinate delay in the investigation of a criminal complaint filed by Sahil Abdulsattar Mansuri and others against Safimahamad Fafirbhai Mansuri a

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