Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The NCLAT upheld the initiation of insolvency proceedings against a guarantor based on the loan agreement alone, validating that the signature suffices despite the absence of a formal deed.
The NCLT clarified that any restructuring of equity capital must adhere strictly to the Companies Act and SEBI regulations, and cannot be conducted through IBC proceedings.
The NCLT dismissed the liquidator’s application on preferential and fraudulent transactions due to the failure of service notice to the suspended management as mandated under the IBC.
The NCLT clarified that perjury jurisdiction is reserved for deliberate falsehoods and cannot be invoked for minor pleading defects, especially when the financial position is correctly represented.
The Reserve Bank of India has released Third Amendment Directions for Small Finance Banks regarding customer liability in electronic banking.
The Reserve Bank of India has issued Second Amendment Directions for Payments Banks addressing limitations on customer liability in unauthorized electronic banking transactions.
The Reserve Bank of India issues Third Amendment Directions for Local Area Banks focused on customer protection in electronic banking.
The Reserve Bank of India has introduced amendments for Regional Rural Banks focusing on the limitation of customer liability in unauthorized electronic banking transactions.
The Reserve Bank of India has issued amendments for Urban Co-operative Banks regarding customer protection in unauthorized electronic banking transactions.
The Reserve Bank of India has issued the Third Amendment Directions for Rural Co-operative Banks, focusing on limiting customer liability in unauthorized electronic banking transactions.
The Reserve Bank of India has conducted a review of circulars issued under the Foreign Exchange Management Act, 1999, to rationalize the regulatory framework. This initiative aims to enhance the clarity and effectiveness of existing regulations.
The Reserve Bank of India successfully conducted an Overnight Variable Rate Repo (VRR) auction, allotting ₹665 crore at a cutoff rate of 5.26%. This auction reflects the current liquidity conditions and reinforces the RBI's commitment to managing money supply effectively.