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Supreme Court Monthly Digest: February 2021

JUDGMENTS 1. Collusive Commercial Transactions With Corporate Debtor Will Not Constitute Financial Debt Under IBC: Supreme Court [Case: Phoenix Arc Private Limited v. Spade Financial.

FDA slaps import alert on India s Shilpa after sterile injectables issues multiply

Feb 19, 2021 9:41am The FDA hit India s Shilpa with an import alert on all but three of its drugs after the company failed to address problems cited in an October warning letter. (Pixabay/qimono) Just a few months after India-based drugmaker Shilpa Medicare found itself in the FDA s crosshairs, the company now faces a ban on the vast majority of its products in the U.S.  The FDA slapped an import alert on Shilpa Medicare s formulation plant in Telangana, India, according to a notice posted Thursday. The product ban comes on the heels of an FDA warning letter that cited the Indian drugmaker for multiple manufacturing violations. 

SC asks Telangana Infra Corp to refund Rs165 cr with interest to Unitech

SC asks Telangana Infra Corp to refund Rs165 cr with interest to Unitech IANS  0 The Supreme Court on Wednesday directed the Telangana State Industrial Infrastructure Corporation (TSIIC) to refund Rs 165 crore with interest to cash-strapped real estate firm Unitech, in connection with development of an integrated township project in Ranga Reddy district.   A bench comprising Justices D.Y. Chandrachud and M.R. Shah said: Unitech shall be entitled to a refund of an amount of Rs 165 crore together with interest at the SBI-PLR commencing from the respective dates of payment, computed in accordance with the provisions of the Development Agreement (except for compounding).

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