AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has released Second Amendment Directions for Commercial Banks regarding income recognition, asset classification, and provisioning.
The Reserve Bank of India has released Third Amendment Directions for Non-Banking Financial Companies regarding income recognition and asset classification to ensure heightened compliance.
The Reserve Bank of India has issued updated directions on income recognition and asset classification for All India Financial Institutions, enhancing compliance frameworks.
The Reserve Bank of India (RBI) has announced the Third Amendment Directions for Rural Co-operative Banks related to income recognition, asset classification, and provisioning.
The RBI has introduced the Second Amendment Directions concerning Income Recognition, Asset Classification, and Provisioning for Local Area Banks. This update aims to improve the financial stability and operational standards of local financial institutions.
In a significant ruling, the Bombay High Court quashed the orders declaring directors as wilful defaulters, citing the lack of reasoned judgments as a breach of natural justice. This reinforces the requirement for transparency in such decisions.
The Bombay High Court has ruled that the interim moratorium under Section 96 of the IBC operates against the entire debt of the corporate debtor, thereby staying arbitration proceedings. This development emphasizes the comprehensive nature of the moratorium intended by the IBC.
The RBI has issued draft Amendment Directions for improving efficiency and transparency in securitisation transactions, inviting public comments. This initiative reflects the RBI's ongoing efforts to enhance the liquidity of financial markets.
In a recent ruling, the Bombay High Court deviates from the Delhi High Court's stringent procedural standards in trademark cases, aiming for a more balanced approach to justice.
Recent discussions reveal that significant copyright amendments are being considered without public consultation. Experts express concerns over transparency and stakeholder involvement in the legislative process.
The Kerala High Court has ruled that GST assessments must allow for the right to cross-examine, emphasizing that statements made in GST proceedings cannot negate this fundamental right.
The Punjab and Haryana High Court has quashed the retrospective cancellation of GST registration, ruling that the show cause notice did not provide for such a cancellation, thereby permitting a fresh notice.
RBI is seeking public comments on its draft Foreign Investment Rules, 2026 until August 31, promoting a simplified and principle-based foreign investment framework.