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Supreme Court Extends Tenure of Justice Jayant Nath as Interim DERC Chair Beyond Retirement Age

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The Supreme Court of India on Monday extended the tenure of former Delhi High Court judge, Justice Jayant Nath, as the interim chairperson of the Delhi Electricity Regulatory Commission (DERC), even though he is set to reach the superannuation age of 65.

This decision comes as part of the Court’s ongoing effort to mediate the deadlock between the AAP-led Delhi government and the office of the Lieutenant Governor (LG). Justice Nath was initially appointed as interim DERC chairperson by the Supreme Court on August 4, 2023, in an attempt to resolve the impasse.

On Monday, a bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra addressed a new petition from the Delhi government. The petition indicated that the government had no objection to Justice Nath’s tenure being extended beyond the age of 65, which is the retirement age for a DERC chairperson. Justice Nath is approaching this age soon.

Senior advocate Sanjay Jain, representing LG V K Saxena’s office, confirmed that there were no objections to the extension request if the court chose to temporarily set aside the age restriction in this case.

The bench noted that Justice Nath had gained considerable knowledge of DERC affairs and decided he could continue in the role until the primary petition from the Delhi government is resolved. The Court then formally recorded the agreement of both the Delhi government and the LG’s office, extending Justice Nath’s term.

The AAP-led Delhi government and LG Saxena have been in disagreement over the DERC chairperson’s appointment, despite the Supreme Court’s efforts to push both sides toward a solution.

Previously, on July 17, 2023, the apex court urged Delhi Chief Minister Arvind Kejriwal and LG Saxena to set aside political differences and focus on selecting a suitable leader for the capital’s power regulator. The Court emphasized that both constitutional functionaries needed to focus on governance instead of engaging in public disputes.

In its petition, the Delhi government challenged the LG’s authority in appointing the DERC chairperson, arguing that the LG should act based on the advice of the council of ministers, which he had not done in this instance.

On July 20, 2023, the Supreme Court referred a separate petition from the Delhi government, regarding the Centre’s ordinance limiting the city’s control over services, to a Constitution bench for further deliberation.

(With inputs from agency)

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Adar Poonawalla’s Serene Productions Acquires 50% Stake in Dharma Productions for ₹1,000 Crore

Karan Johar Retains Position as Executive Chairman; JSA and AZB & Partners Advise on High-Profile Deal

Adar Poonawalla’s Serene Productions has acquired a 50% stake in Karan Johar’s Dharma Productions and its digital arm Dharmatic Entertainment for ₹1,000 crore.

Following the transaction, Johar will retain the remaining 50% stake in Dharma Productions and continue his role as Executive Chairman. Apoorva Mehta will remain as the CEO of the company.

Serene Productions was advised by JSA, with a transaction team led by Iqbal Khan (Partner and National Corporate Lead), Devika Menon (Partner), Tarini Sardesai (Senior Associate), and Gunjan Singh (Associate).

Adar Poonawalla's Serene Productions is acquiring a 50% stake in Karan Johar's Dharma Productions and Dharmatic Entertainment for ₹1,000 crore.

Dharma Productions and its promoters, Karan Johar and Apoorva Mehta, were represented by AZB & Partners. The AZB team included Nandish Vyas (Senior Partner), Devika Nayak (Partner), Disha Mantry (Associate), and Vikrant Dwivedi (Associate), with Aayushi Rout (Associate) supporting Due Diligence and Bharat Budholia (Partner) handling Competition Law matters.

Chandhiok & Mahajan Advises Sarda Energy on Successful Acquisition of SKS Power Generation Chhattisgarh

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Directors of Kisley Plantation Convicted for Defrauding Investors in SEBI Case

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Private Firm and Directors Convicted for Defrauding Investors by Violating SEBI Regulations

NEW DELHI: A court has convicted a private company and its three directors in a case spanning over 23 years, finding them guilty of violating the SEBI Act and Collective Investment Scheme (CIS) regulations by deceiving investors with false promises of high returns.

Additional Sessions Judge Vandana Jain presided over the 2001 case against Kisley Plantation Ltd, based in East Patel Nagar, which was under scrutiny by the Securities and Exchange Board of India (SEBI). The company had raised approximately Rs 2.43 crore from the public without proper registration, luring investors with unrealistic financial incentives.

(With inputs from agency)

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Chandhiok & Mahajan Advises Sarda Energy on Successful Acquisition of SKS Power Generation Chhattisgarh

Chandhiok & Mahajan (C&M) have led on the successful acquisition of a thermal power plant by Sarda Energy & Minerals Limited.

Chandhiok & Mahajan (C&M), led by Pooja Mahajan, Managing Partner and Head of the Restructuring & Insolvency Practice, has advised Sarda Energy & Minerals Limited (Sarda) in the acquisition of SKS Power Generation Chhattisgarh Limited, which operates a 600 MW thermal power plant in Chhattisgarh.

The acquisition was completed as part of the corporate insolvency resolution process under the Insolvency & Bankruptcy Code, 2016, with a deal value exceeding INR 1,900 crores. Sarda’s resolution plan was approved by the Hon’ble National Company Law Tribunal (NCLT) on August 13, 2024.

C&M also successfully represented Sarda in defending against multiple applications and appeals filed by unsuccessful resolution applicants. These applicants had challenged the approval of Sarda’s resolution plan. On October 1, 2024, the National Company Law Appellate Tribunal (NCLAT) upheld the NCLT’s approval and dismissed the objections raised by the challengers.

C&M takes pride in contributing to the successful acquisition of the thermal power plant by Sarda Energy & Minerals Limited.

C&M Team:

  • Pooja Mahajan – Managing Partner & Head of Restructuring & Insolvency Practice
  • Nishant Sogani – Counsel
  • Savar Mahajan – Managing Associate
  • Saurabh Bachhawat – Managing Associate
  • Shrishti Agnihotri – Associate
  • Shreya Mahalwar – Associate
  • Priyanka P. – Associate

IBM Acquires Prescinto to Enhance Renewable Energy Asset Management Capabilities

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Supreme Court Halts NCPCR’s Move to Shift Madrassa Students to Government Schools

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Supreme Court Stays NCPCR’s Directive to Move Students from Unrecognized Madrassas to Government Schools

NEW DELHI: The Supreme Court has temporarily halted the National Commission for Protection of Child Rights (NCPCR) communications urging states to relocate students from unrecognized madrassas to government schools.

A bench led by Chief Justice D.Y. Chandrachud, alongside Justices J.B. Pardiwala and Manoj Misra, acknowledged arguments from senior advocates representing the Muslim organization Jamiat Ulema-i-Hind, who requested a stay on the NCPCR’s communications and related actions by some state governments. This challenge specifically addresses directives from the Uttar Pradesh and Tripura governments regarding the transfer of students from unrecognized madrassas.

(With inputs from agency)

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Supreme Court Dismisses PIL to Substitute ‘Hindutva’ with ‘Indian Constitutionalism

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Supreme Court Dismisses PIL to Replace ‘Hindutva’ with ‘Indian Constitutionalism

NEW DELHI: The Supreme Court has declined to entertain a public interest litigation (PIL) that sought to replace the term ‘Hindutva’ with ‘Bharatiya Samidhaanitva’ (Indian constitutionalism).

Describing the petition as a “complete abuse of the process,” the bench, led by Chief Justice D.Y. Chandrachud and including Justices J.B. Pardiwala and Manoj Misra, dismissed the PIL filed by S.N. Kundra, a resident of Vikaspuri in Delhi.

(With inputs from agency)

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Supreme Court Halts Karnataka Board Exam Results, Criticizes Student Harassment

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Supreme Court Stops Karnataka from Declaring Results for Classes 8 to 10 Exams

NEW DELHI: The Supreme Court has reprimanded the Karnataka government for “harassing” students by conducting board examinations for various classes and has prohibited the declaration of results for classes 8, 9, and 10 until further notice.

A bench of Justices Bela M. Trivedi and Satish Chandra Sharma emphasized that if exams have not been conducted in any district, those should not proceed. “Why are you harassing the students? You are the state. This shouldn’t be an ego issue. If you genuinely care about student welfare, focus on providing quality education instead of putting unnecessary pressure on them,” the bench stated to senior advocate Devadatt Kamat, representing the Karnataka government.

(With inputs from agency)

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Supreme Court Extends Deadline: Expert Panel to Reassess NEET-UG Reform Recommendations

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Supreme Court Grants Two-Week Extension for Expert Panel’s Report on NEET-UG Reforms

NEW DELHI: The Supreme Court has extended the deadline by two weeks for the seven-member expert panel appointed by the Centre to submit its report on reforms for the NEET-UG exam.

On August 2, the court expanded the panel’s mandate, led by former ISRO chief K. Radhakrishnan, to evaluate the National Testing Agency’s (NTA) operations and recommend reforms aimed at enhancing transparency and eliminating malpractices in the NEET-UG (National Eligibility cum Entrance Test Undergraduate). The NTA conducts this exam for admission to undergraduate medical programs.

(With inputs from agency)

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Supreme Court Backs Defamation Summons: Kejriwal’s Remarks on PM Modi’s Degree Under Scrutiny

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Supreme Court Upholds Summons Against Arvind Kejriwal in Defamation Case Over PM’s Degree Remarks

NEW DELHI: The Supreme Court dismissed a plea from former Delhi Chief Minister and AAP leader Arvind Kejriwal, challenging a Gujarat High Court order that refused to quash summons in a defamation case regarding his comments on Prime Minister Narendra Modi’s educational qualifications.

A bench consisting of Justices Hrishikesh Roy and S.V.N. Bhatti referenced a previous ruling, noting that a separate apex court bench had also rejected a plea from AAP leader Sanjay Singh on this matter on April 8. “We must maintain a consistent approach,” the bench emphasized.

(With inputs from agency)

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Khaitan & Co. Advises Experion Technologies on Majority Stake Sale to Indium, an EQT-Backed Digital Engineering Firm

The strategic acquisition of Experion Technologies will enhance Indium’s product engineering and AI capabilities, expanding its global presence and workforce.

Khaitan & Co. acted as legal counsel to Experion Technologies in the sale of a majority stake to Indium, a digital engineering company backed by private equity firm EQT.

The deal team included Gautam Suseel, Amulya Sharma, Ifrazunnisa Khan, Ishaan Nagarkatti, and Unnati Goel, with Rahul Jain assisting on direct tax matters.

On October 16, Indium announced the acquisition of Experion, a global product engineering services provider, aiming to bolster its end-to-end product engineering expertise. The partnership combines Experion’s strengths in product engineering, from ideation to market launch, with Indium’s advanced capabilities in data and AI, positioning the firm to offer enhanced solutions across industries.

This acquisition will support Indium in scaling digital products, platforms, and solutions, while also expanding its workforce to nearly 5,000 employees globally.

Founded in 2006, Experion specializes in product strategy, engineering, cognitive computing, platform engineering, and experience design, serving industries like automotive, insurance, mining, and transportation.

Pigments Spain Acquires Majority Stake in Nahar Colours, Strengthening Position in Global Ceramic Tiles Market

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