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Wednesday Feb 08, 2023

Supreme Court Plea | PIL filed in Supreme Court on Hindenburg who shook Adani Group, know what is the demand


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file photo

Mumbai: A storm named Hindenburg comes from America and the entire empire of Gautam Adani in India gets shaken. From the Parliament to the stock market, only Adani is being discussed. 10 days ago Gautam Adani was the fourth richest person in the world. Now it has come at number 21. In all these developments, this matter has reached the Supreme Court. A public interest litigation has been filed in the Supreme Court. In this petition, the investors have been demanded to pay the damages. The issue of the Hindenburg Report has gone to the Supreme Court. The petition calls for action against Nathan Anderson, the owner of the Hindenburg Company. This PIL has been filed by Advocate Manoharlal Sharma.

Demand to register case under 420 and 120

Short seller Anderson and his accomplices defrauded millions of investors. Due to this, investors have suffered huge losses. Compensation has been sought for this loss. According to the petition, a case has been sought to be registered against the short seller Anderson under sections 420 and 120 of the IPC. Anderson has also alleged conspiracy against Indian institutions in the petition. Hindenburg Research has also troubled many companies around the world. This research institute was founded by Nathan Anderson in 2017. It is a financial research firm. Analyses, researches and prepares reports on Equity, Credit and Derivatives. There is also an interesting history behind the naming of this institution. A plane crash happened near Manchester Township in New Jersey, USA.

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There is currently no impact on the rating of securities

In 1937 the Hindenburg airship crashed. The firm is named after him. Nathan Anderson worked as an ambulance driver in Israel. He has a degree in International Business. He started his career with the data company FactSet Research Systems Inc. Shares of Adani Enterprises fell 35 per cent on Friday. Shares of Adani Enterprises which were at Rs 3,442 on January 24 fell to Rs 1,017 on Friday, February 3. But after a good news, the stock again climbed 50 percent to close at 1586. Good news has come for Adani Group from Fitch Ratings. Fitch rating agency says that at present there is no impact on the rating of companies or securities of Adani Group. Fitch Ratings clarified that there will be no major change in the cash flow of Adani Group. After that the trend of shares of Adani Group changed.



Elon Musk Defrauded Investors | Tesla owner Elon Musk reprimanded by the court, deliberately defrauded investors, read full news


Elon Musk

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San Francisco: Billionaire businessman Elon Musk appeared in court to hear a case related to a ‘misleading’ tweet made in connection with the purchase of his electric vehicle company Tesla. The matter pertains to two tweets made by Musk on August 7, 2018. Musk had said in both the tweets that he had arranged enough money to buy Tesla. However, the deal never materialized. Tesla’s shareholders then sued Musk, saying that his tweet caused them huge losses. Musk appeared in a San Francisco court wearing a black suit.

Tweeting is the most democratic way to communicate with investors

His attorney requested the case be transferred to Tesla’s headquarters in Texas, which was turned down by the court. A nine-judge jury will decide whether the tweets substantially harmed Tesla shareholders over a ten-day period. In this case, Musk has admitted that the purchase he had planned could not materialize. Musk tweeted that he had raised $72 billion to buy Tesla. At that time Tesla was struggling with production problems. After this, he had tweeted another that a deal in this regard is going to be done soon, whereas no such deal has happened. Musk, who bought Twitter last year for $44 billion, told the court on Friday that tweeting was the “most democratic way” of communicating with investors.

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Jury to decide whether Musk intentionally defrauded investors

He said in response to a question asked by shareholder advocate Nicolas Porritt that I care a lot for retail investors. However, Musk also said that due to the set limit of words on Twitter, the matter cannot be said in detail on this platform. Federal court judges have already determined that both of Musk’s tweets were false. Now during the hearing, the jury will decide whether Musk intentionally defrauded investors and whether it caused them loss.



Elon Musk | Tesla CEO Elon Musk appeared in court, know what is the whole matter


here-is-why-elon-musk-has-changed-his-twitter-name-to-elona

file photo

San Francisco: Billionaire businessman Elon Musk appeared in court to hear a case related to a ‘misleading’ tweet made in connection with the purchase of his electric vehicle company Tesla. The matter pertains to two tweets made by Musk on August 7, 2018. Musk had said in both tweets that he had arranged enough finance to buy Tesla.

However, the deal never materialized. Subsequently, Tesla’s stock holders sued Musk, saying that his tweets caused them huge losses. Musk, dressed in a black suit, appeared in a San Francisco civil court. His attorney requested the case be transferred to Tesla’s headquarters in Texas, which was turned down by the court. A nine-judge jury will decide whether the tweets substantially harmed Tesla shareholders over a ten-day period.

read this also

In this case, Musk has admitted that the purchase he had planned could not materialize. Musk tweeted that he had ‘raised money’ for $72 billion to buy Tesla. At that time Tesla was struggling with production problems. After this, he had tweeted another that a deal in this regard is going to be done soon, whereas no such deal has happened.

Musk, who bought Twitter last year for $44 billion, told the court on Friday that tweeting was the “most democratic way” to communicate with investors. “I care a lot for retail investors,” he said in response to a question asked by shareholder advocate Nicolas Porritt.

However, Musk also said that due to the set limit of words on Twitter, the matter cannot be said in detail on this platform. Federal court judges have already determined that both of Musk’s tweets were false. Now during the hearing, the jury will decide whether Musk intentionally defrauded investors and whether it caused them loss. (agency)



Google vs CCI | Supreme Court gives a big blow to Google, refuses to interfere in NCLAT’s interim order


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File pic

New Delhi : The Supreme Court has given a big blow to Google. Because the Supreme Court has categorically refused to interfere in the interim order of NCLAT. Not only this but Google’s petition has been sent back to the tribunal and asked to decide the matter by March 31.

The Supreme Court gave Google India one week to comply with the National Company Law Appellate Tribunal (NCLAT) order imposing Rs 1,337.76 crore fine by the Competition Commission of India for alleged anti-competitive practices. It was directed to deposit 10% of the fine of Rs.

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A Google spokesperson said that we are reviewing the details of yesterday’s decision. which is limited to interim relief and does not decide the merits of our appeal. We remain committed to our users and partners and will cooperate with the CCI on the way forward, parallel to our appeal.



Robot Lawyer | The wonder of artificial intelligence, now the robot will fight the case in the court, what is the whole matter, read the details


File - Photo

File – Photo

Delhi: Whenever it comes to the court, no one can take the place of lawyers. But such a case has come to the fore, with the help of Artificial Intelligence (AI), an American startup has created a robot that will argue in the courtroom and present its case. Lawyers work day and night to fight and win the case. Presenting all the facts and arguments in front of the judge, he keeps his point. Then somewhere the decision comes in favor of his client. This is going to happen in America next month, when an AI robot will argue in the courtroom and present its case.

Help in fighting traffic challan cases

According to the information received, it is an Artificial Intelligence chatbot, which is designed to answer questions and interact. This AI lawyer is going to fight his first case in February. This artificial intelligence robot has been created by a startup named ‘DoNotPay’. This company usually helps people to fight traffic challan cases. Call it AI Lawyer or Chatbot, it was created in the year 2015 by Joshua Browder who is also the ‘DoNotPay’ CEO. Their chatbot used to inform consumers about late fees and fines, but it is claimed that now this chatbot has become a trend to fight cases, that is, it has become a lawyer. As per the report, the robot lawyer will also tell his client what to say during the hearing.

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Expensive legal fees deter good lawyers

The client will get this information on the headphones. If this approach is successful, people will have a new and unique way of dealing with the law. It has been written in a report that expensive legal fees have stopped good lawyers in the traffic court. The company says that in many traffic related cases, fines reach hundreds of dollars, but due to the expensive fees of good lawyers, people are unable to pay them. In such a situation, Josh Brower and his team wondered whether a trained AI could be created to understand and argue the law. However, it has been written in a report that with the help of chatbot, it will be cheaper to fight the case in the court.



Johnson baby powder | Bombay High Court orders, ‘Johnson & Johnson’ will be able to sell its baby powder, production is also allowed


Johnson's

Pic: Social Media

New Delhi/Mumbai. Today the Bombay High Court has given the necessary permission to Johnson & Johnson to manufacture and sell its baby powder. On the other hand, today the court rejected the Maharashtra government’s order to cancel the license, terming it as strict.

Notably, earlier this past December 2022, the Bombay High Court allowed Johnson & Johnson to continue manufacturing its baby powder despite its license expiring on December 15. However, the sale of Johnson’s Baby Powder was banned till further orders.

In this regard, a bench of Justice RD Dhanuka and Justice Milind Sathaye had given this verdict during the hearing on the petitions challenging the two orders of the Maharashtra government. Significantly, the Maharashtra government, in its order, had canceled the license of its product on September 15, 2022, and in another order on September 20, the production and sale of baby powder was also banned immediately.

what was the matter

It is learned that the FDA had taken samples of Johnson’s Baby Powder from Pune and Nashik for the purpose of quality checking. At the same time, the government analyst had declared the powder samples as not conforming to the standard quality, as they do not follow the specification of IS 5339:2004 for Baby Skin Powder in PH test. Following this, a show cause notice was issued to Johnson & Johnson by the FDA under the Drugs and Cosmetics Act-1940 and Rules.

The company had announced to discontinue the product

On the other hand, on August 12, 2022, the company had clearly said that from 2023, baby powder of Johnson & Johnson would be discontinued worldwide. On the matter, the company said that it is tired of the legal battle. That’s why she is going to stop the production of her baby talcum powder. In such a situation, this decision of the Bombay High Court will prove to be a lifesaver for Johnson & Johnson.



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