AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI has announced the third amendment directions for Non-Banking Financial Companies (NBFCs) focusing on responsible lending practices and engagement of recovery agents. This amendment will guide NBFC operations.
The RBI has issued third amendment directions regarding Housing Finance Companies (HFCs), focusing on fair practices and engagement of recovery agents. This will impact recovery operations in HFCs significantly.
The RBI has issued the second amendment to directions on Priority Sector Lending, revising targets and classifications. This amendment is crucial for financial institutions as it affects their lending frameworks.
The FSSAI has proposed amendments to regulations establishing high fat, sugar, and salt limits for foods aimed at school children, inviting public objections within 60 days.
The Allahabad High Court has partially allowed an arbitration appeal, ruling that arbitrators cannot award claims that exceed the scope of the contractual reference.
The Supreme Court has restored an arbitral award holding a husband jointly liable for his wife's trading debts amounting to ₹1.18 crore, finding the relevant by-law applicable and free from patent illegality.
The Allahabad High Court has upheld an arbitration award of ₹126 crore in favor of Adani, rejecting a challenge to the tribunal's interpretation of the contract. The ruling indicates judicial support for arbitration as a means of dispute resolution.
Four Non-Banking Financial Companies have surrendered their Certificates of Registration, resulting in cancellation by the RBI.
The Reserve Bank of India has canceled the Certificates of Registration of 59 Non-Banking Financial Companies due to non-compliance with regulatory requirements.
The RBI has restored the Certificate of Registration of a Non-Banking Financial Company after an appellate review, allowing it to resume operations.
The slow rise of Section 3(m) of the Patents Act in litigation raises questions about its interpretation vis-a-vis European patent law. Authors Swaraj Barooah and Maneesha Gupta argue that these two legal frameworks serve fundamentally different purposes and should not be conflated.
The Telangana High Court allows the manual revocation of GST registrations after cancellation due to the alleged non-existence of business at declared premises.
The Punjab and Haryana High Court has upheld the refund of unutilized ITC, stating that the classification of an intermediary cannot be altered arbitrarily.