AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India conducted a Variable Rate Repo (VRR) auction, allotting ₹29,695 crore at a cut-off rate of 5.26%. The auction reflects the current liquidity condition in the money market.
The Registrar of Copyrights has officially registered Phonographic Performance Limited (PPL) as a copyright society for sound recordings under the Copyright Act. This milestone aids in better management of copyright for sound recordings in India.
The Chhattisgarh High Court ruled that a refusal to marry in a long-term live-in relationship does not constitute rape. The decision clarifies rights concerning consent and expectations in such relationships.
The Madras High Court recently quashed corruption charges against three HR&CE Department staff accused of misappropriating temple funds. The decision reaffirms the judiciary's role in scrutinizing allegations before allowing proceedings.
The RBI has revised customer protection protocols for Regional Rural Banks, strengthening measures against electronic banking fraud and establishing compensation mechanisms.
The RBI has updated fraud rules for Urban Co-operative Banks, enhancing customer protection against digital banking fraud through new zero-liability provisions.
The RBI's new Master Direction facilitates TReDS onboarding for MSMEs by removing mandatory due diligence, fostering improved financing efficiency.
RBI has released a draft framework to guide regulated entities in managing risks associated with model usage, emphasizing accountability and lifecycle management.
The RBI has proposed a draft Master Direction to consolidate regulations pertaining to the government securities market into a single framework, aiming to enhance compliance simplicity and regulatory clarity.
The Ministry of Corporate Affairs has launched the Corporate Mitra Scheme, aimed at training young graduates as paraprofessionals to assist MSMEs with compliance and financial services. Applications for the program will be processed through the Swayam Plus portal.
The NCLT ruled that a ₹200 crore future capital infusion must be treated separately from the creditor settlement under the resolution plan approved for Hind Agro.
NCLT approved Hind Agro’s ₹95 crore resolution plan, ruling that investments for future business revival cannot be included in the resolution plan value.
The NCLT ruled that a bank’s unilateral transfer of a corporate debtor’s funds cannot be reversed as a preferential transaction under Section 43 of the IBC in the absence of any preference by the debtor.