AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Kerala High Court affirmed that a cryptic order from an appellate authority does not negate the necessity for statutory appeal under Section 112 of the CGST Act. This decision clarifies procedural obligations surrounding GST appeals.
The RBI has officially removed Coӧperatieve Rabobank U.A. from its Second Schedule after it ceased to operate as a banking company.
The Calcutta High Court ruled that a resolution applicant is not responsible for a corporate debtor's pre-Corporate Insolvency Resolution Process (CIRP) late payment surcharge (LPSC), highlighting the 'clean slate' principle in insolvency cases.
The NCLAT has ruled that the submission of a resolution professional's report is not required when debt and default are clearly established, affirming the role of the guarantor's signature as proof of liability.
The CBDT has granted income-tax exemption to the Core Settlement Guarantee Fund of the National Commodity & Derivatives Exchange, strengthening financial safety in commodities markets for AYs 2019–20 to 2026–27.
A Delhi court has flagged incorrect involvement of an accused in 17 FIRs and directed the police to correct the records, granting regular bail to the accused.
The Rajasthan High Court has ruled that 'criminal writ petitions' do not exist under the Constitution, directing such filings to be registered simply as writ petitions.
The NCLT Kochi has dismissed a ₹1,323 crore insolvency petition by Morgan Securities against BPL, ruling that the IBC cannot function as a recovery tool when arbitration remedies have been pursued.
RBI has updated the FAQs on the Annual Return on Foreign Liabilities and Assets, focusing on compliance deadlines and reporting requirements under FEMA. Entities must ensure they meet the July 15 deadline.
The FEMA FLA Return is a position-based compliance requirement tied to outstanding foreign investments, with a crucial July 15 deadline for filings. The article outlines recent updates and reporting rules to aid compliance.
The Ministry of Corporate Affairs has extended the Companies Compliance Facilitation Scheme, allowing companies additional time to complete pending statutory filings without facing penalties. This extension aims to aid compliance and reduce the burden on companies.
The NCLT has admitted an insolvency plea against Nirvikar Films LLP, classifying undisputed interest as operational debt.
The NCLAT has ruled that procedural obstacles should not hinder the submission of additional affidavits in CIRP proceedings, emphasizing substantive justice.