AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Bombay High Court has instructed the Assessing Officer to review Naresh Goyal's ₹3,563 crore tax-related objections, emphasizing a comprehensive examination of evidence. This development impacts ongoing financial scrutiny into major corporate transactions.
The NCLT has admitted a Section 7 plea against SWAL Limited, determining that an interest-bearing inter-corporate loan constitutes financial debt under the IBC and commencing the Corporate Insolvency Resolution Process.
The NCLAT has ruled that APDCL must pay ₹37.66 lakh with interest to the liquidator of Brahmaputra Rolling Mills, highlighting the distinct legal status of companies under the IBC. The tribunal rejected the set-off plea based on mutual dealings.
The Calcutta High Court has appointed an arbitrator to resolve a dispute regarding unpaid allocations tied to false Income Tax disclosures by a builder. This ruling emphasizes the legal standing of arbitration in such disputes.
The Bombay High Court quashed an assessment order, mandating that it be treated as a fresh show cause notice. The Income Tax Department was ordered to reopen the e-filing portal for the petitioner to file a response.
The RBI has introduced third amendment directions concerning responsible business conduct for rural, urban, regional rural, and local area banks, reinforcing customer protection in electronic transactions.
The RBI has issued Master Directions for Credit Derivatives, introducing new regulations that could reshape risk management practices in Indian financial markets.
The RBI implemented the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026, amending specific reporting requirements. These amendments are significant for foreign exchange transaction compliance.
The Madras High Court clarified the media's freedom limits under Article 19(1)(a), stating it cannot declare guilt before trial, which has implications for reporting on ongoing investigations.
The Madras High Court provided a right to be forgotten for an individual acquitted in a POCSO case, ordering the blocking of their details from public access.
The Supreme Court ruled that a Minister's individual statements do not reflect the government's view unless formally endorsed, emphasizing the distinction between personal and official statements.
The NCLAT Delhi approved the submission of an additional affidavit in revived IBC proceedings, underscoring that adherence to procedural rules must not undermine the principle of natural justice.
The Bombay High Court has ruled in Black Diamond Motors Pvt. Ltd. v. Registrar of Trade Marks, prioritizing substantive justice over strict procedural timelines under the Trade Marks Rules, 2017. This decision raises questions about the interpretative approach to procedural defaults.