Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Bombay High Court has ruled that the interim moratorium under Section 96 of the IBC operates against the entire debt of the corporate debtor, thereby staying arbitration proceedings. This development emphasizes the comprehensive nature of the moratorium intended by the IBC.
The RBI has issued draft Amendment Directions for improving efficiency and transparency in securitisation transactions, inviting public comments. This initiative reflects the RBI's ongoing efforts to enhance the liquidity of financial markets.
In a recent ruling, the Bombay High Court deviates from the Delhi High Court's stringent procedural standards in trademark cases, aiming for a more balanced approach to justice.
Recent discussions reveal that significant copyright amendments are being considered without public consultation. Experts express concerns over transparency and stakeholder involvement in the legislative process.
The Kerala High Court has ruled that GST assessments must allow for the right to cross-examine, emphasizing that statements made in GST proceedings cannot negate this fundamental right.
The Punjab and Haryana High Court has quashed the retrospective cancellation of GST registration, ruling that the show cause notice did not provide for such a cancellation, thereby permitting a fresh notice.
RBI is seeking public comments on its draft Foreign Investment Rules, 2026 until August 31, promoting a simplified and principle-based foreign investment framework.
RBI's new reclassification of Non-Banking Financial Companies (NBFCs) outlines Type I and II criteria, defines public funds, and introduces conditions for deregistration. The phased implementation through PRAVAAH is set for July 2026.
The National Company Law Appellate Tribunal (NCLAT) has suspended the blanket ban imposed by the Insolvency and Bankruptcy Board of India (IBBI) on resolution professionals, emphasizing the need for balanced regulatory measures. The ruling highlights the importance of proportional penalties and adherence to the principles of natural justice.
The Madras High Court ruled that an Income Tax Show Cause Notice (SCN) imposing a 200% penalty must clearly specify the grounds of 'misreporting' as delineated in Section 270A.
The Madras High Court ruled that post-demerger revised Income Tax Returns (ITR) must be filed based on updated balance sheets and audited profit and loss accounts.
The Madras High Court ruled that an Income Tax Show Cause Notice imposing a 200% penalty must clearly specify the grounds of alleged misreporting to allow adequate defense.