Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Bombay High Court has quashed the Enforcement Directorate's freeze on ₹100 crore worth of assets belonging to Coda Payments, ruling that the ED did not comply with the mandatory provisions of the Prevention of Money Laundering Act.
The NCLAT has set aside a CIRP application, ruling that defaults alleged during the COVID-19 lockdown phase are protected from insolvency actions under statutory restrictions.
NCLAT has struck down notices issued to the ED and CBI by the NCLT, concluding that statutory compliance in issuing such notices was not met.
The NCLAT dismissed a claim of ₹18.85 crores against a corporate debtor due to lack of banking proof and absence of a valid memorandum of understanding (MoU) to establish financial debt.
The NCLAT has invalidated a ₹135 crore resolution plan as the de-notification process of the SEZ was found incomplete. The absence of GIDC’s consent rendered the proposed changes in land use unviable.
The RBI has notified updates to the UNSC's 1988 Taliban sanctions list as part of compliance with Section 51A of the UAPA, 1967. The amendments require vigilance in banking operations to prevent financing of terror activities.
The RBI has issued notifications regarding updates to the UNSC’s Al-Qaida sanctions list as part of the implementation of Section 51A of the UAPA, 1967. Banks and financial institutions are mandated to comply with these updates to enhance national security measures.
The Controller General of Patents, Designs and Trademarks (CGPDTM) has released draft guidelines for biotechnology patent applications, inviting stakeholder input. These guidelines aim to streamline patent processes in the healthcare sector as the need for robust patent protections in biotech continues to grow.
The Fourth Amendment to FEMA Non-Debt Instruments Rules, 2019 now permits inventory-based e-commerce exports of Indian goods, providing a significant boost to e-commerce businesses. This amendment is consistent with the Foreign Trade Policy 2023.
The NCLT has admitted a CIRP application filed by the Central Bank of India against a corporate guarantor due to a default of ₹27.29 crores. The bank provided proof of guarantee invocation, which was critical in establishing the case.
The Controller General of Patents, Designs and Trademarks has announced draft guidelines for examining patent applications in the pharmaceutical and biotechnology sectors, inviting feedback from stakeholders.
The NCLT has admitted a plea for the Corporate Insolvency Resolution Process (CIRP) against a corporate debtor, affirming that SARFAESI proceedings do not prevent a default under the IBC. The operational debt was validated, with no pre-existing disputes established.