AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
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.
The NCLT has admitted an insolvency plea against a kraft paper manufacturer, adjudging that the debt and default were proven. Interim Resolution Professional Rishabh Sethi has been appointed to oversee the company's affairs.
The Reserve Bank of India has issued the third amendment to the Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) directions for commercial banks, aimed at enhancing liquidity protocols.
The Reserve Bank of India has announced the third amendment to the Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) directions for small finance banks to enhance liquidity.