AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Bombay High Court ruled that the 2019 amendment to Section 54(1) of the GST Act applies prospectively, ensuring that refund claims related to pre-existing periods are still valid. The court directed that these refund applications must be processed accordingly.
The Kerala High Court ruled that SARFAESI recovery procedures do not require approval from the National Trust for properties of disabled wards, allowing petitioners to seek relief from the Debt Recovery Tribunal.
The NCLT has admitted an insolvency plea by Aditya Birla Finance against a personal guarantor, reinforcing the continuing guarantee that keeps liability alive beyond liquidation. A moratorium on recoveries has been imposed.
The NCLT has initiated the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC for a default amounting to ₹16.53 crores. A moratorium has been declared under Section 14 of the IBC.
The RBI has issued comprehensive directions regarding the Kisan Credit Card (KCC) Scheme to Commercial Banks, emphasizing credit limits and disclosure norms.
The RBI has published new directions for Small Finance Banks related to the Kisan Credit Card (KCC) Scheme, highlighting key operational guidelines and compliance norms.
The RBI has introduced directions for Regional Rural Banks concerning the Kisan Credit Card (KCC) Scheme, detailing credit provisions and compliance requirements.
The RBI has published directions for Rural Co-operative Banks regarding the Kisan Credit Card (KCC) Scheme, outlining credit purposes, tenure, and disclosure requirements.
SEBI revised its Master Circular to clarify early pay-in margin rules in the commodity derivatives segment, allowing Clearing Corporations to waive margins based on risk perception.
SEBI seeks feedback on proposed changes to trading software and IT regulations aimed at enhancing efficiency. The changes intend to modernize the compliance framework and streamline operational norms.
The Kerala High Court has mandated that practitioners of electro-homeopathy must register under state laws, asserting that the practice cannot be viewed as unregulated.
The Supreme Court has declined to entertain a petition from a Himachal Pradesh judge challenging the Collegium's recommendation for judicial appointments. The court ruled that entertaining such a petition would open unnecessary legal avenues.
NCLT directed the convening of equity shareholders and unsecured creditors' meetings while dispensing with other meetings as part of a scheme of arrangement. The order provides for necessary procedural directions.