AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI has mandated that all specified Foreign Exchange Management Act (FEMA) reports must now be submitted digitally through the Centralized Information Management System (CIMS) from June 30, 2026.
Companies can issue bonus shares from their Securities Premium Account even if they are facing accumulated losses, provided they comply with the required statutory conditions outlined in Section 63.
Myntra Designs Pvt. Ltd. has been penalised by the Reserve Bank of India for violations of the Foreign Exchange Management Act. This case highlights the necessity of complying with regulatory filings in overseas investments.
The NCLAT has held that banks cannot be found guilty of wilful contempt for not releasing non-fund based credit facilities as per an approved resolution plan, unless there is clear evidence of deliberate defiance of court orders.
The RBI has issued amendments to the governance directions for urban co-operative banks, strengthening the requirements for board constitution and oversight.
The RBI has amended the governance directions for rural co-operative banks, enhancing the framework for board constitution and governance.
The RBI has issued amendments affecting Foreign Portfolio Investors' investments in government securities, aimed at improving regulatory oversight and compliance in this sector.
The RBI has amended the Foreign Exchange Management (Cross Border Merger) Regulations, streamlining processes for cross-border mergers. This amendment modifies previous regulations to facilitate smoother cross-border transactions and compliance for companies engaged in mergers.
The Reserve Bank of India has amended the Foreign Exchange Management Regulations for exports, enhancing compliance measures under the Foreign Exchange Management Act. These changes streamline requirements for exporters of goods and services, ensuring better regulatory oversight.
The RBI has scheduled auctions for 91-Day, 182-Day, and 364-Day Treasury Bills, a significant measure to manage government finances and liquidity in the economy.
Puran Associates Private Limited has been penalized for failing to comply with asset classification provisions according to RBI regulations. This emphasizes the scrutiny on asset management practices.
The RBI has released draft Amendment Directions regarding interest rate disclosures on deposits, inviting stakeholder comments. This aims to enhance pricing flexibility for banks.
The RBI announced the redemption price for premature redemption of the SGB 2021-22 Series-III, due on June 8, 2026. This outlines conditions for early redemption of Sovereign Gold Bonds.