Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
A recent analysis examines how India's structured tax system aligns with global models of cross-border taxation, underscoring its progressive compliance features. This is relevant for international tax practitioners and businesses engaged in cross-border activities.
The Calcutta High Court has issued a stay on coercive actions by tax authorities against the petitioner concerning time-barred reassessment proceedings. This decision underscores the significance of adherence to statutory time limits.
NCLAT maintains that supply dues between consortium partners are actionable under IBC, reinforcing the status of such obligations as operational debt. This ruling strengthens the position of suppliers in corporate insolvency processes.
The NCLT Mumbai has ordered a director to refund rental income that was diverted through forged lease agreements, mandating the amount to be returned with 12% interest. This decision highlights the tribunal's stance against fraudulent conduct and its implications for corporate governance.
The Insolvency and Bankruptcy Board of India (IBBI) has imposed a three-year suspension on an insolvency professional for failing to disclose a conflict of interest during the resolution of a RERA-linked scheme. This highlights the regulatory body's commitment to uphold ethical standards in insolvency management.
The National Company Law Appellate Tribunal (NCLAT) has ruled that financial proposals in the Corporate Insolvency Resolution Process (CIRP) cannot be altered after the challenge process begins. This prevents any post-bid modifications that could undermine the resolution process.
The Reserve Bank of India has announced an auction for state government securities amounting to ₹18,600 Crore, allowing states to raise funds for various projects.
ROC Chennai penalized a company and its director for failing to include PAN and email IDs of allottees in Form PAS-3. This ruling underscores the stringent compliance requirements mandated by Rule 14(6) of the Companies Act.
A new article identifies 17 prevalent mistakes made by companies when filing the RBI's FLA Return, stressing the importance of understanding the associated reporting requirements to avoid regulatory issues.
The RBI Governor met with representatives from export organizations to discuss strategies for enhancing exports and strengthening industry relationships.
The Ministry of Corporate Affairs (MCA) launched a 12-month blended learning course aimed at assisting MSMEs with compliance needs. The initiative is a collaboration with prestigious institutions including ICAI and IIT Madras.
The RBI has issued a ₹1 lakh penalty on Modern Co-operative Bank for violations related to exposure norms and KYC regulations.