AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Kerala High Court permitted a company to repay EPF damages in 18 instalments, emphasizing structured compliance over coercive recovery.
The Calcutta High Court mandated IndusInd Bank to refund 50% of the processing fee, holding a negotiated settlement consistent with RBI guidelines.
The Madras High Court acquitted a customs preventive officer charged with disproportionate assets, emphasizing the need for comprehensive asset assessment during investigations.
The NCLT held that removal of a charge does not equate to extinguishing the underlying debt unless it is proven that the debt was repaid.
The NCLT Chandigarh ruled that mere allegations of collusion and related party transactions do not suffice to substantiate claims of fraudulent initiation of corporate insolvency resolution process (CIRP).
The Calcutta High Court upheld the acquittal of a Chartered Accountant in a cheque bounce case, citing insufficient evidence to establish a legally enforceable debt.
The NCLT in Mumbai admitted an insolvency plea against HK Toll Road, establishing that evidence of debt and default is sufficient even with ongoing arbitration proceedings.
The NCLT has admitted an insolvency petition filed by Prudent ARC against Super Property Maintenance, clarifying that prior winding-up proceedings do not bar the initiation of CIRP under the IBC.
NCLT found that an email trail demonstrated a pre-existing dispute, leading to the rejection of Netambit's insolvency plea of ₹4.37 crores against Flipkart. This emphasizes the importance of pre-existing disputes in insolvency proceedings.
The RBI has issued new directives for Small Finance Banks to enhance customer protections in unauthorized electronic transactions, a move aimed at increasing consumer trust.
The RBI has introduced updated guidelines for Payments Banks, focusing on limiting customer liability for unauthorized electronic transactions, thereby enhancing security standards.
The RBI's new directions for Local Area Banks aim to enhance customer protection in electronic transactions, limiting liabilities for unauthorized transactions.
New conduct directions for Regional Rural Banks focus on enhancing customer protection against unauthorized electronic banking transactions, reinforcing consumer rights.