BackLegal | SC asks broadcasters to work out interim plan
Legal | SC asks broadcasters to work out interim plan
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New Delhi: The Supreme Court on Friday asked broadcasters to work out some interim arrangement on tariff to be charged for cable services across the country.
It also asked the parties to maintain status quo till next Friday on a sectoral tribunal ruling that rejected broadcast regulator Trai’s tariff order proposing to put a ceiling on cable service charges.
A bench headed by Chief Justice K.G. Balakrishnan while asking the parties to maintain status quo till next Friday said, “All broadcasters should come out with some understanding on the tariff till Trai completes its exercise to reframe the new tariff order within 4-6 months."
Trai had challenged the Telecom Disputes Settlement and Appellate Tribunal judgement that set aside the Telecommunications (Broadcasting & Cable) Services (Second) Tariff (Eighth Amendment) Order 2007 and held that the regulator had violated principles of transparency.
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SC asks Indian Bank to release funds to SPIC
New Delhi: The Supreme Court on Friday directed Indian Bank to release Rs8 crore from its trust and agreement account to the ailing Southern Petrochemicals Industries Corp. Ltd (SPIC) to restart its plant.
A bench headed by Chief Justice K.G. Balakrishnan said the money should be released to the Chennai-based fertilizer and chemicals company for making the plant operational and the payment of dues to the employees.
Indian Bank and other lenders had challenged the order of the Debt Recovery Appellate Tribunal asking them to release about Rs1.3 crore a month.
The outstanding debt, according to the banks, exceeds Rs28,00,000 , while the assets have been valued at Rs1,553 crore by Ernst and Young.
— Bloomberg
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