AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Delhi High Court has upheld the maintainability of a single complaint for more than three dishonoured cheques linked to one demand notice, clarifying procedural requirements for complaints under the Negotiable Instruments Act.
The Calcutta High Court has accepted the unconditional apology of an Enforcement Directorate (ED) officer for violating a stay order, leading to the closure of contempt proceedings. This decision reflects the court's willingness to resolve issues around procedural compliance without further action.
The Jan Vishwas Amendment to the Delivery of Books Act, 1956 modifies penalty provisions but may not achieve its intended goals. The changes are significant yet fall short in addressing key issues related to legal deposit and book delivery.
The SEBI has dismissed allegations of fraud against Axis Bank, citing a lack of substantial evidence for claims of disclosure violations and market manipulation.
BSE has issued FAQs to clarify the filing process for record dates, compliance issues, and timelines related to corporate actions, helping listed entities navigate their obligations.
SEBI has announced an extension for the implementation of revised trading norms for Exchange Traded Funds (ETFs) until September 7, 2026. This includes changes to pricing practices and auction processes.
The RBI mandates that regulated entities report their natural calamity relief measures on a half-yearly basis through CIMS, effective July 2026, replacing the monthly reporting system.
The Institute of Company Secretaries of India (ICSI) has expressed appreciation for the MCA's decision to extend the CCFS 2026 deadline, supporting stakeholder compliance efforts.
The ROC has imposed a penalty of Rs. 10,000 on an auditor for failing to qualify an audit report on terminal benefits under AS-15, emphasizing compliance with accounting standards.
ROC Karnataka has imposed a penalty of Rs. 90,000 on a company and its directors for borrowing funds without obtaining prior board resolutions under Section 179(3)(d).
The ability of the Registrar of Companies (ROC) to take action beyond three years hinges on the nature of the action — inquiry, adjudication, or prosecution — and applicable provisions under the Companies Act.
Debates regarding the enforcement of defaults under the Old Companies Act, 1956 persist in light of recent decriminalization, necessitating clarity on the mechanisms of compounding or adjudication.
The Non-STP approval of MGT-14 does not modify the limitation period for ordinary defects and fraud under the Companies Act, reinforcing the existing statutory frameworks.