AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
In a significant ruling, the SAFEMA Tribunal has overturned PMLA freezing orders against cryptocurrency exchanges WazirX and Vauld, emphasizing the necessity for reasoned adjudication. The Tribunal has remanded the matter for fresh hearings.
The SAFEMA Tribunal upheld a FEMA contravention related to a software import case but significantly reduced the penalties imposed on the company and its Director. This decision highlights the Tribunal's discretion in penalty assessment despite affirming compliance violations.
The Karnataka High Court ruled against the Revenue's selective challenge to an assessee's ITC computation method, emphasizing the need for consistency in tax matters.
The Delhi High Court has granted SpiceJet income tax relief amounting to ₹28.59 crores, concluding that the FCCB redemption premium qualifies as a revenue expenditure.
SEBI has proposed extensive revisions to the Portfolio Managers Regulations, emphasizing new investment avenues and compliance measures with comments due by August 13, 2026.
SEBI has issued a draft circular seeking comments on significant changes to the online dispute resolution framework for the securities market, including revised processes and roles for market intermediaries.
SEBI has initiated an ISIN-level buy-back freeze that introduces promoter trading restrictions during buy-backs. This framework aims to enhance preventive compliance in the securities market.
The RBI has published Second Amendment Directions regarding the Resolution of Stressed Assets for Local Area Banks, aimed at improving asset management and financial stability measures.
The Reserve Bank of India has issued Second Amendment Directions focused on income recognition and asset classification for Local Area Banks. This is intended to enhance financial stability and compliance.
The Reserve Bank of India has provided Second Amendment Directions related to income recognition and asset classification for Commercial Banks. These changes are significant for compliance and regulatory practices.
The Reserve Bank of India has issued Second Amendment Directions focused on income recognition and asset classification for Small Finance Banks. This amendment seeks to improve regulatory compliance.
The Reserve Bank of India has issued Third Amendment Directions pertaining to income recognition and asset classification for Non-Banking Financial Companies. This aims to enhance resolvability of stressed assets.
The Reserve Bank of India has released Second Amendment Directions concerning income recognition and asset classification for All India Financial Institutions. This amendment is crucial for improving financial governance in the sector.