AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹8.10 lakh on Shri Ram Finance Corporation Private Limited for violations of governance and KYC directions. The penalty underscores the importance of regulatory compliance in the finance sector.
In response to current liquidity conditions, the Reserve Bank of India (RBI) will conduct a 7-day Variable Rate Reverse Repo auction on August 24, 2026. This initiative aims to manage liquidity effectively and stabilize short-term interest rates.
The Controller General of Patents has invited stakeholder comments on the Draft Manual of Patent and Trademark Office (Practice & Procedure) 2026. Comments are due within the next 30 days for patents and 15 days for trademarks.
The Rajasthan AAR has ruled that a 5% GST rate is applicable to job work involving handicrafts, provided certain conditions are met regarding classification and exemption. This clarifies the tax structure for artisans and industries.
The Uttarakhand High Court has permitted an application for revocation of GST registration that was canceled due to non-filing of returns, contingent upon the applicant filing due returns and payments. This decision underlines the court's approach to balancing compliance and relief.
The Karnataka High Court has ruled that a mandatory pre-deposit in service tax appeals can be discharged through transitional CENVAT credit, thereby relieving unnecessary financial burdens on appellants.
The J&K and Ladakh High Court ruled that the MSME relaxation circular does not create enforceable rights for tenderers. The rejection of a bid due to turnover criterion was upheld.
The Karnataka High Court affirmed the dismissal of a review petition under RERA, stating that promoters cannot alter their defence at the review stage. The ruling underscores the importance of consistent factual presentation.
SEBI has resolved an allegation of continuing interest violations in an Alternative Investment Fund by agreeing to a settlement of ₹10.87 lakh. The issue arose due to unequal investor drawdowns.
The ITAT has ruled against a ₹15.35 lakhs addition to a taxpayer's income, affirming that sales suppression was unproven based on GST records and other documents. The ruling stresses the importance of evidentiary standards in tax assessments.
The Calcutta High Court upheld that civil courts cannot issue injunctions against actions under the SARFAESI Act, reinforcing the legal boundaries of such proceedings.
The Supreme Court dismissed a petition seeking a joint trial in two CBI cases related to the 2013 NSEL payment crisis, affirming the need for separate trials.
The Supreme Court ruled that an employee who accepted CPF benefits cannot subsequently claim a GPF pension after retirement, reinforcing the binding nature of prior acceptance.