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SC bars NCLT from finalising orders allowing $3.4 bn Future-Reliance deal

The Supreme Court on Monday sought a response from Future Retail Limited (FRL) in a plea by e-commerce giant Amazon challenging the Delhi High Court order which had stayed the implementation of status quo direction passed by single-judge of the High Court with respect to the $3.4 billion Future-Reliance deal.
A bench headed by Justice Rohinton Nariman also said that while the proceedings before National Company Law Tribunal (NCLT) can go on, they should not culminate in any final order of sanction of the scheme.
“Issue notice. Dasti in addition. To come up after three weeks. Rejoinder to be filed two weeks thereafter. List thereafter,” the court ordered, according to law platform Bar & Bench. “Meanwhile, the NCLT proceedings will be allowed to go on but will not culminate in any final order of sanction of scheme.” ....

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Top headlines: Rs 950 cr tax evasion by Swiggy, Flipkart; 83 Tejas for IAF

Over Rs 950-crore tax evasion by Flipkart unit, Swiggy: I-T department
Over Rs 950-crore tax evasion by food delivery start-up Swiggy and Instakart (a group firm of Flipkart) has been detected following last week’s survey operations in Bengaluru. According to the initial findings of the Income Tax Department, third party vendors were also involved in the concealment of taxable income. ‘’The survey operations on the companies resulted in impounding of incriminating documents evidencing tax evasion issues including non-deduction from tax deducted at source (TDS) on commission income and cancellation charges by Swiggy and their restaurants.
Hospitals get ready for Covid shots ahead of vaccination drive on Jan 16 ....

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