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Five things to watch out for today

| Updated on May 07, 2018

The board of ICICI Bank is to meet on Monday to approve the annual earnings for 2017-18. It may see some discussion on the allegations of conflict of interest against CEO Chanda Kochhar. There are series of allegations of impropriety in ICICI Bank extending loans to some companies and enjoying reciprocal benefits.

Lenders of Jaypee Infratech will meet on May 7 to consider Lakshadweep Pvt Ltd's Rs 7,350-crore bid to acquire the debt-laden firm. Jaypee Infratech is facing insolvency proceedings after it defaulted on loan repayments. The National Company Law Tribunal had last year admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code.

The Supreme Court is to hear on Monday a petition seeking direction that the sentences under Prevention of Corruption Act, 1988, Prohibition of Benami Property Transaction Act, 1988, Prevention of Money Laundering Act (PMLA), 2002, and Foreign Contribution (Regulation) Act, 2010 (FCRA) should run consecutively, instead of concurrently. Under consecutive sentences, a person convicted in multiple offences has to serve the sentence for each of the offences separately. The petition was filed on April 18 by BJP leader and Advocate Ashwini Upadhyay.

Finance ministers of various states are expected to meet in the Andhra Pradesh capital of Amaravati on May 7 to discuss concerns on the Terms of Reference and recommendations of the 15th Finance Commission. State Finance Minister Yanamala Ramakrishnudu has claimed that 12 states, including Andhra Pradesh, Tamil Nadu, Telangana, Kerala and Karnataka, would suffer heavily because of the 15th Finance Commission recommendations. 

The Supreme Court has stayed till May 7 the trial in the Kathua gangrape and murder case, after several petitions sought shifting of the trial to Chandigarh and handing over the investigation to the CBI. A bench of Chief Justice Dipak Misra and Justices D Y Chandrachud and Indu Malhotra said it will deal with the prayer of the victim's father for shifting of trial to Chandigarh and plea of the accused seeking handing over the probe to CBI. The bench posted the matter for further hearing on May 7. The child from a minority nomadic community had disappeared from near her home in a village near Kathua in Jammu region on January 10. Her body was found in the same area a week later.

Published on May 07, 2018

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