AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Bombay High Court ruled that the moratorium under Section 14 of the IBC does not prevent deemed conveyance under Section 11 of the MOFA, restoring the society's application related to the matter.
RBI penalizes Bank of Baroda for violations in Fair Practices Code and KYC regulations.
The Calcutta HC has ruled that the IBC moratorium does not prevent pre-existing civil suits from proceeding, setting aside the dismissal of a guarantor suit against Canara Bank.
The NCLT has admitted Union Bank's insolvency petition, confirming that personal guarantors are liable under Section 98 of IBC.
The NCLT ruled that adherence to IBC timelines is mandatory. Secured assets must merge into the liquidation estate if timelines are breached.
The NCLT ruled that claims under Section 60(5) of IBC cannot be admitted once a resolution plan is approved. This impacts homebuyers' rights to file fresh claims after allotment cancellation.
The Reserve Bank of India has introduced new directions for credit derivatives markets under its Master Direction. This aims to regulate novel financial instruments and promote stability in credit markets.
The Reserve Bank of India has issued Master Directions for Credit Derivatives aimed at enhancing regulatory mechanisms in financial markets. This development is expected to facilitate the introduction of new financial instruments.
SEBI is proposing amendments to the SDI Regulations to align the securitisation framework with the RBI's 2025 rules.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) petition after determining that failure to deliver possession within the promised timeline constitutes financial default.
The NCLT has ruled that delays from RERA proceedings cannot bar homebuyers from initiating insolvency proceedings against developers.
NCLAT has condoned a 15-day delay in an appeal e-filed at 9 PM on the last permissible day, affirming that digital filing aligns with the intent of the Insolvency and Bankruptcy Code (IBC). The ruling emphasizes the accessibility of justice through digital means.
Cyril Amarchand Mangaldas facilitated Kotak Mahindra Bank's acquisition of Deutsche Bank's Private Banking and Wealth Management business, showcasing their expertise in financial transactions.