Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The RBI is conducting a comprehensive review of circulars issued under the Foreign Exchange Management Act (FEMA) since June 2000. The initiative aims to simplify and rationalise the regulatory framework for authorised persons.
The RBI has notified updates to the UNSC's 1988 Taliban sanctions list as part of compliance with Section 51A of the UAPA, 1967. The amendments require vigilance in banking operations to prevent financing of terror activities.
The RBI has issued notifications regarding updates to the UNSC’s Al-Qaida sanctions list as part of the implementation of Section 51A of the UAPA, 1967. Banks and financial institutions are mandated to comply with these updates to enhance national security measures.
The NCLT has admitted a plea for the Corporate Insolvency Resolution Process (CIRP) against a corporate debtor, affirming that SARFAESI proceedings do not prevent a default under the IBC. The operational debt was validated, with no pre-existing disputes established.
The NCLAT upheld the Corporate Insolvency Resolution Process (CIRP) ruling, stating that an agreement to sell does not discharge operational debt of ₹5.73 crore, rejecting the 'moonshine' defence. The court found no genuine pre-existing dispute regarding goods supplied, confirming the obligations under the IBC.
The NCLT upheld the validity of a corporate guarantee from Jammu & Kashmir Bank following a demerger. The ruling confirmed that the transfer of mortgaged assets does not release the guarantor from liability, emphasizing the continuing nature of corporate guarantees.
The Reserve Bank of India has issued Fourth Amendment Directions for small finance banks regarding CRR and SLR, granting exemptions to certain deposits. This amendment aims to enhance liquidity and support financial stability.
The RBI's Fourth Amendment Directions for regional rural banks provide exemptions to the CRR and SLR requirements for specific deposits, aiming to enhance liquidity and support banking operations.
The RBI has issued Fourth Amendment Directions for urban co-operative banks concerning CRR and SLR, providing exemptions to enhance liquidity. This decision is expected to positively impact the banking operations of these institutions.
The RBI has announced the Fourth Amendment Directions for rural co-operative banks concerning Cash Reserve Ratio and Statutory Liquidity Ratio, exempting certain new deposits. This change aims to enhance liquidity within these institutions.
The RBI has introduced the Third Amendment Directions for regional rural banks, temporarily lifting the interest rate ceiling on new deposits. This move is anticipated to improve liquidity and increase deposit rates.
The RBI has announced the Third Amendment Directions for urban co-operative banks, facilitating a temporary removal of the interest rate ceiling on new deposits. This update is expected to bolster deposit acquisition in the banking sector.