AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The NCLT has ordered liquidation of a company after no viable resolution plan emerged despite an extended EOI process. The Committee of Creditors (CoC) voted 80.86% in favor of liquidation, marking a significant directive in insolvency proceedings.
SEBI has aligned its cyber incident reporting portal with the Financial Stability Board's FIRE format, requiring structured reporting from regulated entities to strengthen cybersecurity practices.
The Insurance Regulatory and Development Authority of India (IRDAI) has approved investments in NDB Maharajah INR bonds by insurers, subject to specific eligibility and rating criteria. This marks a significant regulatory change to bolster insurer investment portfolios.
The RBI has issued directions to Desaiganj Nagari Cooperative Bank, effective August 27, 2026, to ensure compliance with banking regulations.
On August 25, 2026, RBI issued directions under the Banking Regulation Act to The Citizens Co-operative Bank, Jammu, in light of regulatory compliance requirements.
The NCLT has admitted Canara Bank's insolvency plea against a corporate guarantor worth ₹119.64 crore, confirming that the Corporate Insolvency Resolution Process (CIRP) of a principal borrower does not preclude the initiation of insolvency proceedings against the guarantor.
The NCLT has ruled that a personal guarantor moratorium cannot impede independent corporate insolvency proceedings against a debtor with a financial default of ₹46.62 crore. This decision underscores the separate legal identities of guarantors and corporate debtors.
SEBI has proposed an exemption allowing eligible listed issuers to forgo mandatory merchant banker appointments for small-value debt private placements of up to ₹10,000. This initiative aims to enhance issuance efficiency and reduce compliance burdens.
The NCLT has sanctioned the merger of Aureustech Systems with Happiest Minds Technologies, effective April 1, 2026.
The NCLAT has set aside an NCLT order, clarifying that Section 98 necessitates proof of impracticability in convening an EGM.
The NCLAT affirmed the right of the Resolution Professional to obtain revenue records, rejecting claims of disputed ownership as a reason to withhold the information.
The NCLT has rejected a resolution plan due to lack of statutory valuation for a ₹1,000 share conversion, resulting in ordered liquidation for non-compliance with the Companies Act.
A chartered accountant has been booked for allegedly issuing fraudulent Form 15CB certificates, leading to foreign remittances amounting to ₹464.8 crore through two suspected shell firms. This action has raised significant concerns over regulatory compliance in financial transactions.