AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Delhi High Court upheld a tax addition of Rs. 19.25 lakh, concluding that a civil suit to cancel a sale deed was filed as an afterthought, following a tax appeal ruling.
The Kerala High Court has granted bail to nine CPI(M) workers accused of attacking Enforcement Directorate officials, emphasizing the need for judicial discretion in examining detention durations. This decision may affect future similar cases involving political protests.
The legal validity of imposing retrospective penalties under Section 122(1A) of the CGST Act is being examined as taxpayers face enforcement actions for periods preceding the provision's introduction. This scrutiny may impact future GST compliance and enforcement.
The NCLT Mumbai ruled that a second invocation of a guarantee cannot revive a time-barred Section 7 claim, emphasizing limitation issues in bankruptcy cases.
New rules require non-small private companies to comply with mandatory dematerialisation, alongside an 18-month compliance timeline for ISIN applications.
The NCLT Ahmedabad has ruled that financing for a bank loan takeover does not qualify as financial debt, leading to the rejection of a related Section 7 IBC application.
The NCLT Ahmedabad has permitted the reissue of redeemable preference shares under Section 55(3) after ensuring statutory conditions were satisfied. This ruling directs the redemption of shares held by non-consenting holders, providing clarity on shareholder rights.
In a move towards regulatory streamlining, the Reserve Bank of India has consolidated several supervisory instructions and repealed older circulars. This action aims to enhance clarity and compliance for banks and financial institutions.
The RBI has appointed Smt. Monisha Chakraborty as Executive Director effective August 3, 2026. She brings over three decades of banking experience to this role, having previously served as Chief General Manager in the Department of Supervision.
The Delhi High Court addresses the need for updates in digital archiving exceptions to improve access to knowledge in its latest judgment.
The Calcutta High Court has affirmed equal pay for equal work, granting pay parity to municipal tax collectors based on the administration's own admission.
The Reserve Bank of India has directed banks to implement training programs for staff involved in cash handling, enhancing their ability to detect counterfeit currency.
The Directorate General of Foreign Trade (DGFT) has updated its export schedule to declare several inorganic and organic chemicals, along with other items, as 'free' for export. This move aims to liberalize trade and facilitate exports.