Tag: nclat

No insolvency for Zee: IDBI’s plea dismissed by Appellate Tribunal

Zee Entertainment Enterprises Ltd (ZEEL) has reportedly sold its prime real estate asset in Hyderabad’s upscale Jubilee Hills area for Rs 99.3 crore.

The appellate tribunal has also granted IDBI Bank the liberty to file a fresh plea against Zee Entertainment for defaults beyond the Covid moratorium period.

Breaking: Gandhi family ends feud, restructures and merges Vadilal empire

A key component of the agreement involves securing the “Vadilal” brand within the company. Currently, the brand is used under a non-exclusive license from a promoter group entity.

The board approved a composite scheme of amalgamation to merge promoter/promoter group entities with Vadilal Industries. This includes the merger of Vadilal Finance Company Private Limited (VFCPL), Veronica Constructions Private Limited (VCPL) and Vadilal International Private Limited (VIPL).

NCLAT gives relief to Meta, stays CCI order of five-year ban on WhatsApp data sharing

The state commission, presided over by President Sushil Kumar and Member Sudha Upadhyay, stated that "WhatsApp is a service provider company" and its provision of services within India means it "cannot be said that this company is a foreign company and the consumer complaint against it is not maintainable." The ruling directly contradicts the district commission's view that WhatsApp users are not consumers of the platform.

The CCI had in November 2024 imposed a penalty of ₹213 crore on Meta for WhatsApp’s 2021 Privacy Policy.