Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The NCLT Delhi has dismissed Jiostar India's insolvency plea regarding unexecuted agreements, stating they do not qualify as operational debt under Section 9 of the IBC.
The Reserve Bank of India (RBI) has confirmed the withdrawal of ₹2000 banknotes, with deposit and exchange facilities available until October 7, 2023. This move follows the RBI's earlier press release on the status of the withdrawal.
The article discusses the absence of explicit prohibitions on round-tripping under FEMA while highlighting regulatory controls through other fiscal measures.
The RBI has reiterated the compliance requirements for software and ITES exporters regarding the annual survey based on the previous financial year.
The RBI has clarified the reporting requirements for Portfolio Investment Positions, enhancing the accuracy and consistency of cross-border investment data.
FEMA mandates strict compliance for companies receiving foreign investments, including reporting and approval requirements, to avoid penalties and regulatory action.
The Ministry has expanded the Board of Trade, adding 40 non-official members to enhance India's export competitiveness and trade policy. This reconstitution aims to bolster state-level participation and infrastructure development in foreign trade.
The NCLT Delhi has rejected an insolvency plea by Jiostar India, clarifying that unexecuted agreements do not constitute operational debt under section 9 of the IBC. The dismissal allows for recovery through other legal means.
The RBI has announced updates related to the implementation of UAPA regarding changes to the UNSC sanctions list, impacting compliance protocols for financial institutions.
The RBI has announced the formation of a new district in Assam and the assignment of lead bank responsibilities, reflecting administrative changes in the region.
The RBI has issued new guidelines for Authorized Dealer Category-I banks regarding the submission of returns on the Centralized Information Management System (CIMS), aiming to improve data management and oversight.
The interest rate for the Government of India Floating Rate Bond 2031 has been set at 6.64% per annum for the upcoming half-year. This is based on the average yield of prior T-Bill auctions.