Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The RBI has published the 46th Half-Yearly Report on the management of India's foreign exchange reserves, ensuring transparency in financial governance. This report is released semi-annually to review reserves management strategies.
The Saket District Court ruled in favor of Anamika Sood, asserting her copyright over a song while raising concerns about misuses of copyright enforcement in commercial contexts.
The ITAT ruled that reassessment proceedings cannot be initiated during an IBC moratorium, quashing the assessment order based on this principle.
The CBDT has outlined parameters for the compulsory scrutiny of income tax returns for FY 2025-26. This includes identifying significant cases involving searches and reassessments.
The RBI's Monetary Policy Committee has decided to retain the repo rate at 5.25%, citing global conflicts and rising inflation risks as concerns. Further clarity is needed before policy adjustments.
SBI's application under Section 7 for insolvency was admitted, asserting that pendency of winding-up proceedings cannot override corporate revival objectives under IBC.
The Supreme Court ruled that a Successful Resolution Applicant (SRA) cannot back out of a CoC-approved resolution plan merely by claiming that the Letter of Intent (LoI) is conditional.
Real estate promoters are now liable to pay GST under the reverse charge mechanism for TDR, FSI, and long-term leases received.
The NCLAT has ruled that contempt orders imposing civil imprisonment must explicitly name individual contemnors and adhere to due process. This decision underscores the necessity of procedural safeguards in contempt proceedings.
The NCLAT has ruled that transferred winding-up petitions cannot proceed under Section 9 of the IBC unless they meet the enhanced threshold limit of ₹1 crore in default. This reinforces compliance with prevailing IBC admission requirements.
A petition has been filed in the Supreme Court questioning the legality of Deepak Prakash's reappointment as a Bihar Minister despite his unelected status. The case raises important constitutional questions about ministerial appointments.
In a significant ruling, the Uttar Pradesh court has ordered an FIR against a Station House Officer for illegally detaining an individual and fabricating records. This development emphasizes the non-impunity of police misconduct in the state.