Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Kerala High Court clarified that the onus to demonstrate absence of negligence regarding tax dues lies with the director, not the Principal Secretary. This modification highlights the responsibilities of directors under the KVAT Act.
Delhi HC quashed an FIR against Ashish Bhalla, affirming that an SFIO investigation precludes parallel probes. This ruling clarifies jurisdictional matters in corporate investigations.
NCLT Cuttack restored the petitioner directors in a significant ruling on shareholders' rights. The tribunal ruled that minority shareholder exclusion constituted oppression.
The RBI has released new guidelines on statutory audits for commercial banks, detailing requirements for auditor appointments and coverage to improve accountability.
The RBI's new directions on Fraud Risk Management outline critical frameworks for identifying and mitigating fraud in commercial banking operations.
The Reserve Bank of India has introduced new directions pertaining to the compliance function of commercial banks, establishing a framework for governance and oversight in banking practices.
The Reserve Bank of India has launched a concessional swap facility for FCNR(B) deposits, ECBs, and OFCBs, operational until late 2026. This initiative aims to bolster forex inflows, supporting the country's forex liquidity.
The Delhi High Court's extensive pro-tem security deposit order in InterDigital v. Transsion provides nuanced insights into standard-essential patents and interim orders.
SEBI has established a framework for ISIN-level freezing of promoter holdings during buy-back operations, aiming to enhance market compliance and integrity. This measure is part of a broader move towards preventive regulatory measures.
SEBI has introduced the GARUDA mechanism to streamline the filing process for Alternative Investment Funds (AIF), effective immediately. This initiative revises existing procedures for AIF scheme launches and aims to expedite regulatory compliance.
The RBI has released new directions for commercial banks detailing governance and compliance functions, effective July 31, 2026. This aims to strengthen banks' internal frameworks and oversight mechanisms.
The RBI has consolidated various supervisory instructions into a single document, repealing outdated circulars. This aims to streamline regulations for commercial banks effective July 31, 2026.