AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Kerala High Court has set aside a Rs. 1 lakh cost imposed by the NCLT on Union Bank of India due to procedural errors in its withdrawal application. This ruling emphasizes the importance of fair procedural standards in insolvency proceedings.
The Karnataka High Court dismissed income tax appeals regarding alleged unaccounted medical fees, ruling that uncorroborated seized materials are insufficient to sustain tax additions. This judgment highlights the evidentiary standards in tax assessments.
The Income Tax Department has initiated a nationwide verification campaign aimed at scrutinizing 394 entities and 36 professionals linked to suspicious foreign remittances. This action arises from discrepancies between reported turnovers and remittance amounts, signaling increased scrutiny in foreign transactions.
SEBI has proposed new digital KYC provisions designed to facilitate easier onboarding for non-resident Indians (NRIs) and foreign nationals, streamlining compliance for overseas investors.
SEBI has allowed Infrastructure Investment Trusts (InvITs) to incorporate debt-funded maintenance expenses into their Net Distributable Cash Flows (NDCF), subject to certain approvals. This move is expected to enhance capital management for InvITs.
The RBI has amended the Third Amendment Directions concerning Responsible Business Conduct for Non-Banking Financial Companies. This update addresses engagement with recovery agents and reinforces ethical business practices.
The RBI has released the Third Amendment Directions concerning Housing Finance Companies, focusing on the engagement of recovery agents. This amendment is pivotal for HFCs in maintaining fair practices.
The RBI has assigned lead banking responsibilities for five newly formed districts in Ladakh, aiming to enhance financial services in the region. This decision has significant implications for banking operations and resource allocation in the Union Territory.
The Madras High Court has provided essential clarification in Novartis AG v. Venkata Narayana Active Ingredients regarding evidentiary standards necessary to invoke the Bolar exemption for regulatory approval exports.
New compliance rules from the Ministry of Electronics and Information Technology (MeitY) significantly modify the timeframe for social media platforms to remove unlawful content, raising questions about enforcement and compliance in digital law.
The Delhi High Court's recent directives concerning intermediaries and copyright enforcement highlight ongoing challenges faced by ISPs in India, shaped by the IT Act’s Section 79. This analysis is pertinent for practitioners navigating copyright laws and intermediary responsibilities.
The Rajasthan High Court has ruled that a GST order not visible on the online portal does not extinguish the recipient's right to appeal.
The Draft Foreign Investment Rules for 2026 have raised critical questions regarding equity, control thresholds, and the roles of RBI and DPIIT. These proposed regulations are still under review.