Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The RBI has imposed an ₹8.10 lakh penalty on Shri Ram Finance Corporation Pvt. Ltd. for non-compliance with KYC regulations. This action underscores the RBI's enforcement responsibilities in maintaining compliance within the financial sector.
The Reserve Bank of India has made critical updates to the UNSC sanctions list concerning ISIL and Al-Qaida, amending 4 entries under Section 51A of UAPA, 1967. Financial institutions need to enhance their compliance measures accordingly.
The Reserve Bank of India has implemented updates to the UNSC's sanctions list relating to ISIL and Al-Qaida under Section 51A of UAPA, 1967. This amendment affects various financial institutions and mandates compliance for entities listed.
The Kerala High Court has overturned the National Company Law Tribunal's imposition of Rs. 1 Lakh costs on Union Bank of India for procedural errors related to a withdrawal application. This decision emphasizes judicial discretion in evaluating procedural matters before tribunals.
The Karnataka High Court has determined that banks lack statutory authority to create liens on current accounts of cooperative societies for TDS on cash withdrawals. This ruling emphasizes the limitations on banks' powers regarding such financial operations.
The Reserve Bank of India has updated four entries in the UNSC sanctions list related to ISIL and Al-Qaida. This update mandates all regulated entities to comply with the provisions of Section 51A of the Unlawful Activities (Prevention) Act.
The Calcutta High Court ruled that a Cash Credit (CC) or Overdraft (OD) account cannot be classified as a Non-Performing Asset (NPA) unless it meets the specific criteria of being overdue for 90 days or marked
The RBI's draft loan pricing regulations for 2026 propose a cap on APRs for microfinance and personal loans below ₹50,000, deemed essential to combat usury.
The RBI and ED have outlined the procedures for NOCs, adjudication, and compounding related to FEMA violations, highlighting compliance triggers for expected cases in 2025-26.
The Calcutta High Court ruled that a Cash Credit/Overdraft account cannot be classified as a Non-Performing Asset (NPA) unless it meets the criteria of being overdue for 90 days or is categorized as 'out of order'. This decision emphasizes the necessity of adherence to specific statutory provisions for NPA classification.
The Calcutta High Court ruled that a Cash Credit or Overdraft account cannot be classified as a Non-Performing Asset (NPA) unless it meets the criteria of being overdue for 90 days or is deemed 'out of order.' This ruling reinforces the strict adherence to banking regulations concerning NPA categorization.
The Supreme Court has upheld the claims of a financial creditor regarding a commercial unit allotment made to settle service dues, emphasizing the importance of directing attention towards creditors' rightful claims under the IBC framework.