Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
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The RBI has consolidated various supervisory instructions into a single document, repealing outdated circulars.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.
The Reserve Bank of India has implemented Section 51A of the UAPA regarding updates to the UNSC's Taliban sanctions. This involves amendments to a total of five entries as of July 31, 2026, which financial institutions must uphold.
The Government of India is set to buy back dated securities through auction, totaling ₹20,000 Crore. This initiative is aimed at debt management and optimizing interest costs.
Several State Governments are set to auction securities totaling ₹26,850 Crore to raise funds. This includes re-issues and fresh issues, aimed at financing state-level projects.
The Reserve Bank of India has operationalized a concessional swap facility for FCNR(B) deposits and External Commercial Borrowings, effective until September and December 2026, respectively. Reported inflows till July 31, 2026, have been collected from Authorised Dealer Banks.
The CCPA's findings against PhysicsWallah and McAfee raise concerns about misleading advertisements and forced actions. This analysis explores deeper implications for design interfaces and dark pattern regulations.
The Gujarat High Court upheld ITC reversal due to a supplier's failure to pay tax but quashed the GST penalty citing procedural errors in its imposition.
The Kerala High Court ruled that GST orders cannot stand when a revision of KVAT returns is pending, underscoring the interconnectedness of state and GST compliance obligations.
The Karnataka High Court has granted interim relief in GST proceedings, emphasizing jurisdictional and natural justice issues surrounding ITC reversal matters. This ruling indicates potential leeway for taxpayers challenging GST demands.
The Himachal Pradesh High Court has restrained the tax department from proceeding with VAT recovery against a former partner of a firm until the firm's pending statutory appeal is resolved.