Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Delhi High Court ruled that expenses like phones and cars incurred by companies cannot be deemed personal expenditure. This ruling overturns a previous income tax disallowance, affirming that companies, as separate legal entities, do not incur personal expenses unlike individuals.
The Reserve Bank of India has sanctioned the voluntary amalgamation of The Bhavani Sahakari Bank Ltd. with TJSB Sahakari Bank Ltd., effective from May 4, 2026.
The Supreme Court has ruled that certification of electronic evidence under the Bharatiya Sakshya Adhiniyam is not limited to government-notified examiners, allowing qualified private cyber forensic experts to certify records.
The Ministry of Corporate Affairs has reported that the insolvency resolution process under the IBC has led to creditor recoveries exceeding ₹4 lakh crore by March 2026, signaling the effective implementation of the Insolvency and Bankruptcy Code.
RBI invites comments on draft directions aimed at strengthening capital adequacy disclosures for banks to ensure improved risk reporting.
RBI mandates a three-year cooling-off period for co-operative bank directors after ten years of service to enhance governance and compliance.
Under new FEMA regulations, service exporters will be required to file monthly EDF declarations starting October 2026. Non-compliance may impact eBRC generation and GST refunds.
The Centre has approved the cadre restructuring of the Enforcement Directorate, significantly increasing its staff strength across various key functions. This decision aims to enhance the agency's operational capabilities.
The Directorate General of Foreign Trade has mandated that importers and exporters must annually update their Importer-Exporter Code (IEC) to prevent deactivation. This regulation is part of a broader strategy to ensure streamlined governance within India's import-export ecosystem.
The Finance Ministry has recognized ICICI Bank, Groww, and Upstox as reporting entities under the PMLA, enhancing digital financial verification systems in India. This move is significant for compliance and regulatory practices in the securities market.
The NCLT has admitted an insolvency plea against an online gaming firm for defaulting on a loan amounting to ₹2.81 crore, appointing an interim resolution professional to manage the case.
SEBI clarified that Infrastructure Investment Trusts (InvITs) can borrow beyond 49% of asset value for capital expansion and eligible debt refinancing, enhancing investment flexibility.