Latest news with #PSNarasimha
Time of India
4 hours ago
- Business
- Time of India
SC allows M3M Group's plea for substitution of provisionally attached property
NEW DELHI: The Supreme Court has allowed realty firm M3M Group 's plea for substitution of the provisionally attached property by the Enforcement Directorate under the Prevention of Money Laundering Act , 2002. A bench of Justices P S Narasimha and R Mahadevan, however, said the substitution of the property would be subject to nine conditions as suggested by ED. "We have heard Dr Abhishek Manu Singhvi, senior counsel appearing for the petitioner and considered the matter in detail. The petitioners, namely, M/s. M3M India Pvt. Ltd. and M/s. M3M India Infrastructure Pvt. Ltd. have also filed an affidavit agreeing to the conditions. While we allow the substitution of the property as same shall be subject to the conditions...." the bench said. The top court's order came on a plea filed by M3M Group challenging the Punjab & Haryana High Court's order refusing to substitute their provisionally attached property. One of the conditions submitted by ED before the top court states that M3M Group should establish clear and marketable title along with undisputed ownership of the assets proposed for substitution, supported by verifiable documentary evidence, to the satisfaction of the court. "The substituted assets must be free from all encumbrances, including mortgages, liens, pledges or any third-party claims or security interests and a certificate to this effect must be submitted by the petitioner. The petitioner must provide a notarised undertaking that the substituted property will not be sold, transferred, or otherwise alienated during the pendency of proceedings," the condition said.
Hindustan Times
6 hours ago
- Business
- Hindustan Times
SC allows M3M Group plea for substitution of provisionally attached property
Jul 02, 2025 08:26 PM IST New Delhi, Jul 2 (PTI) The Supreme Court has allowed realty firm M3M Group's plea for substitution of the provisionally attached property by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002. The Supreme Court has allowed realty firm M3M Group's plea for substitution of the provisionally attached property by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002.(HT photo) A bench of Justices P S Narasimha and R Mahadevan, however, said the substitution of the property would be subject to nine conditions as suggested by ED. "We have heard Dr Abhishek Manu Singhvi, senior counsel appearing for the petitioner and considered the matter in detail. The petitioners, namely, M/s. M3M India Pvt. Ltd. and M/s. M3M India Infrastructure Pvt. Ltd. have also filed an affidavit agreeing to the conditions. While we allow the substitution of the property as same shall be subject to the conditions...." the bench said. The top court's order came on a plea filed by M3M Group challenging the Punjab & Haryana High Court's order refusing to substitute their provisionally attached property. One of the conditions submitted by ED before the top court states that M3M Group should establish clear and marketable title along with undisputed ownership of the assets proposed for substitution, supported by verifiable documentary evidence, to the satisfaction of the court. "The substituted assets must be free from all encumbrances, including mortgages, liens, pledges or any third-party claims or security interests and a certificate to this effect must be submitted by the petitioner. The petitioner must provide a notarised undertaking that the substituted property will not be sold, transferred, or otherwise alienated during the pendency of proceedings," the condition said.
Deccan Herald
8 hours ago
- Business
- Deccan Herald
Supreme Court allows M3M's plea to substitute land of real estate company, attached under PMLA
A bench of Justices P S Narasimha and R Mahadevan, while hearing a plea filed by M3M, held that a property attached under the PMLA may be substituted by an alternate asset of equivalent or higher value.
Time of India
2 days ago
- Politics
- Time of India
SC to examine if Electricity Act applies to NPCIL Power
Will the Electricity Act , which regulates generation and distribution of power produced using hydel, thermal and solar energy sources, apply to electricity generated by Nuclear Power Corporation of India Ltd (NPCIL) governed under the Atomic Energy Act , 1962? A bench of Justices P S Narasimha and R Mahadevan agreed to examine this question and attempt a harmonised interpretation of the two laws governing the generation and distribution of electricity from conventional sources and the nuclear fission process, reports Dhananjay Mahapatra. The conflicting views of Central Electricity Regulatory Commission (CERC) and Appellate Tribunal for Electricity (APTEL) in a dispute between Gujarat Urja Vikas Nigam (GUVNL) and NPCIL led to the Nigam approaching the SC for adjudication of the question as to who had jurisdiction over regulating power generated by NPCIL.
Time of India
2 days ago
- Politics
- Time of India
Electricity Act to cover N-energy? SC to examine
NEW DELHI: Will the Electricity Act, which regulates generation and distribution of power produced using hydel, thermal and solar energy sources, apply to electricity generated by Nuclear Power Corporation of India Ltd (NPCIL) governed under the Atomic Energy Act, 1962? A bench of Justices P S Narasimha and R Mahadevan agreed to examine this question and attempt a harmonised interpretation of the two laws governing the generation and distribution of electricity from conventional sources and the nuclear fission process. The conflicting views of Central Electricity Regulatory Commission (CERC) and Appellate Tribunal for Electricity (APTEL) in a dispute between Gujarat Urja Vikas Nigam (GUVNL) and NPCIL led to the Nigam approaching the SC for adjudication of the question as to who had jurisdiction over regulating power generated by NPCIL.
