Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
RBI circular alerts financial institutions to a new terrorist organisation designated under the Unlawful Activities (Prevention) Act, mandating compliance with asset-freezing obligations.
Patna HC grants anticipatory bail to part-time accountant accused of uploading incorrect GST bills, noting lack of financial benefit.
The RBI has amended the sanctions list under Section 51A of the UAPA, 1967, concerning the Taliban. This update further aids financial institutions in adhering to international obligations related to anti-terrorism financing.
The RBI has updated its guidance related to the implementation of Section 51A of the UAPA, 1967, concerning sanctions linked to Al-Qaida and ISIL. This amendment will impact financial institutions in their compliance efforts regarding anti-terrorism financing.
The Madras High Court ruled that confidential Look Out Circulars (LOCs) must be disclosed to affected individuals, reinforcing their constitutional rights. This decision emphasizes the need for transparency and compliance in legal procedures involving LOCs.
The Reserve Bank of India has issued a circular regarding updates to the UN Security Council’s sanctions list on the Taliban, in accordance with the Unlawful Activities (Prevention) Act, 1967.
The RBI issued a circular updating compliance measures for banks concerning recent sanctions listed under the UNSC's 1267/1989 ISIL (Da'esh) and Al-Qaida sanctions. This includes the implementation of Section 51A of the UAPA, 1967.
A CBI Court has convicted a bank manager and several borrowers for their involvement in a ₹2.82 crore cheating case related to CGTMSE loans. The decision highlights ongoing enforcement against financial fraud.
The Bombay High Court has quashed the Enforcement Directorate's freeze on ₹100 crore worth of assets belonging to Coda Payments, ruling that the ED did not comply with the mandatory provisions of the Prevention of Money Laundering Act.
The SAFEMA Tribunal has lifted the PMLA attachment on ₹161.22 crore after determining that no predicate offence existed to justify the attachment.
A CBI Court has convicted a bank manager and multiple borrowers for conspiracy and cheating in a ₹2.82 crore loan fraud case, with forgery charges being dismissed.
A CBI Court has convicted a bank manager and two borrowers for their involvement in a ₹2.82 crore loan fraud under the CGTMSE scheme, establishing conspiracy and cheating. However, the court found the charges of forgery under the IPC to be unsubstantiated.