AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
NCLT Mumbai approved meetings for shareholders and creditors of Delta Corp for a proposed business separation. The order outlines procedures for a composite demerger and amalgamation scheme.
A new collaboration between India's CSIR and Brazil's INPI focuses on access to the Traditional Knowledge Digital Library (TKDL), potentially influencing global biodiplomacy and traditional knowledge governance. This initiative extends the implications of patent examination practices.
The High Court has set aside the cancellation of GST registration, determining that the lack of specific factual reasons in the show cause notice left the taxpayer without a fair opportunity to respond.
The ITAT quashed an assessment due to a Section 143(2) notice issued by a non-jurisdictional Assessing Officer, highlighting the need for valid transfer orders.
The ITAT invalidated a transfer pricing adjustment of ₹85 crore due to a lack of digital signature on the order. This ruling emphasizes the necessity of proper authentication in tax orders.
The RBI has revised the Lead Bank Scheme guidelines to bolster credit planning and enhance financial inclusion initiatives across India.
The RBI has implemented a new multi-cycle credit reporting framework for Non-Banking Financial Companies (NBFCs). The new regulations mandate more frequent reporting cycles and enhanced compliance requirements.
The Karnataka High Court has determined that the provision of standard banking facilities by banks does not constitute a 'declared service' under section 66E(e) of the Finance Act.
Kerala's Revised Budget for 2026-27 launches amnesty schemes and vehicle tax adjustments to enhance compliance and promote vehicle registrations.
The NCLT has reclassified a Yes Bank loan, originally secured by promoters' property, as unsecured debt in an insolvency proceeding against Roofco Trading.
The NCLT has initiated Corporate Insolvency Resolution Process against a paper mill due to ₹1.25 crore operational debt, underscoring the absence of a genuine dispute.
The NCLT has initiated Corporate Insolvency Resolution Process (CIRP) against a corporate debtor and imposed a moratorium under Section 14 of the IBC, appointing Naresh Kumar Tailor as the Interim Resolution Professional.
The NCLT directed Kotak Mahindra Bank to release title deeds after confirming receipt of full payment by the corporate debtor, asserting that creditor retention of documents post-payment contravenes the resolution plan.