AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Supreme Court has quashed IPC defamation proceedings against bank officers over an error in a SARFAESI notice. The Court held that vicarious liability does not apply, thereby protecting legitimate actions taken in good faith under the SARFAESI Act.
The Supreme Court limits writ jurisdiction in arbitration cases, specifying that writs can only be entertained in instances of a clear lack of jurisdiction. This ruling develops the understanding of the interplay between Section 16 objections and extraordinary relief in arbitration contexts.
The CBDT has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026, aimed at ensuring compliance among small taxpayers regarding foreign assets. This initiative is expected to enhance transparency and tax compliance.
The Ministry of Corporate Affairs has issued the Companies (Ind AS) Amendment Rules, 2026, incorporating significant changes to various standards effective from April 1, 2026.
The SAFEMA Tribunal has upheld the benami attachment of ₹98 lakh relating to demonetized cash and RTGS transfers, reinforcing the framework against benami transactions.
The MSME Development Amendment Act 2026 introduces provisions for digital registration and streamlining of dispute timelines, enhancing operational efficiencies for micro, small, and medium enterprises.
The MSME Development Amendment Bill 2026 introduces key reforms for payment processes and dispute resolutions, including revised classifications and enabling the recovery of dues for MSMEs.
The NCLAT has permitted a financial claim on an uninvoked corporate guarantee during the Corporate Insolvency Resolution Process (CIRP), affirming that the Resolution Professional cannot unilaterally reject valid claims. This reinforces the security of corporate guarantees in insolvency proceedings.
Recent data indicates significant foreign exchange inflows via FCNR(B) deposits and ECBs under the RBI's Forex Swap facility. This facility was established to enhance forex liquidity.
The Parliament has passed significant amendments to the MSME Development Act, aimed at alleviating compliance difficulties for micro, small, and medium enterprises. This marks a crucial legislative effort to support MSMEs in India.
The Delhi High Court upheld a Look Out Circular (LOC) against an exporter, affirming that courts cannot question the sufficiency of evidence leading to the issuance of an LOC. This ruling emphasizes the executive's discretion in such matters.
The NCLT approved the dissolution of Paysend India after confirming that the company had completed voluntary liquidation with full compliance with necessary statutory requirements under the IBC.
The NCLT directed the return of 124 electric vehicles to the Resolution Professional, stating that disputed contractual monetary claims cannot be reviewed under the IBC.