AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ICAI held that derogatory remarks made by a chartered accountant concerning the Finance Minister over ITR portal glitches were inappropriate but did not constitute misconduct. The ruling reaffirmed the balance between freedom of speech and professional ethics.
This week’s review highlights several key developments in IP law, including the Delhi High Court's ruling in *Saregama v. Ilaiyaraaja* and new guidelines under Section 3(m). Legal professionals can glean critical insights for ongoing and future cases.
The NCLT has appointed a new liquidator following the death of the predecessor, ensuring that the liquidation proceedings continue without disruption. This decision follows a unanimous resolution by the lenders.
The RBI will hold a Variable Rate Reverse Repo (VRRR) auction on August 17, 2026, totaling ₹2,00,000 crore to manage liquidity.
ROC Delhi has levied a ₹6.65 lakh penalty on a company for delays in appointing Independent Directors from 2016 to 2025, emphasizing compliance with the Companies Act provisions.
ROC Pune has imposed a penalty of ₹1.34 lakh for a delayed filing of Form INC-20A, reaffirming the need for timely compliance with corporate filings.
ROC Mumbai has imposed a penalty of ₹5,000 on a director for inaccurately reporting nil debentures while significant outstanding CCDs existed in MGT-7A filings.
ROC Kolkata has imposed a ₹20,000 penalty on directors for inaccuracies regarding the AGM date in the AOC-4 submission, reinforcing the need for precise information in corporate filings.
The Registrar of Companies (ROC) Kolkata has imposed a penalty of ₹20,000 on a company for filing incorrect MGT-7 forms. Marking the forms as defective does not absolve the parties from violations under Rule 8(3).
The government clarified that the Companies Compliance Framework Scheme 2026 (CCFS-2026) does not permit the strike-off of companies under Section 248. The scheme has been extended until August 31, 2026.
IndusInd Bank has incurred a penalty of ₹59.20 lakh from the RBI due to violations related to interest rates on deposits and securitisation practices.
The RBI has fined Northern Arc Capital Limited ₹6.20 lakh for not complying with disclosure requirements in financial statements.
The RBI has imposed a monetary penalty of ₹2.70 lakh on Fusion Finance Limited for non-compliance with KYC guidelines as mandated by RBI provisions.