AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Madras High Court, in Novartis AG v. Venkata Narayana Active Ingredients, delivers a critical examination of the Bolar exemption under Section 107A. The ruling is pivotal for pharmaceutical manufacturers in navigating the evidentiary requirements for regulatory export approvals.
The RBI has issued Statutory Audit Directions for Rural Co-operative Banks, detailing auditor appointment and eligibility requirements effective immediately.
The RBI has published Miscellaneous Supervisory Directions for Regional Rural Banks, focusing on fair lending practices and fraud prevention measures effective immediately.
The RBI released Supervisory Directions for All India Financial Institutions (AIFIs) in 2026, delineating comprehensive governance, reporting structures, and penalties for non-compliance.
The RBI has issued immediate Compliance Function Directions for Middle and Upper Layer NBFCs, focusing on governance and compliance risk management. This aims to streamline compliance functions within these institutions.
The Karnataka High Court ruled that the corporate veil of a non-signatory entity cannot be lifted at the interim stage in relation to a shareholder's arbitration agreement, reinforcing the integrity of corporate structures.
The National Company Law Tribunal (NCLT) has permitted the inclusion of a partnership firm as a co-petitioner in an investigation related to alleged fraud and land misuse under Section 213(b) of the Companies Act. This decision emphasizes the tribunal's focus on fair adjudication in corporate affairs.
The Joint Parliamentary Committee (JPC) has rejected a proposal in the Corporate Laws Amendment Bill that would have required all partners of audit firms to register with a statutory body. This decision aligns with the committee's recommendations aimed at streamlining regulatory requirements.
The RBI has released vital directions aimed at addressing cybersecurity risks within commercial banks. The guidelines establish a robust framework for managing technological resilience.
The Reserve Bank of India has implemented Section 51A of the UAPA by updating the UNSC's Taliban sanctions list. This amendment impacts various financial institutions' compliance obligations concerning sanctioned entities.
The Monetary Policy Committee (MPC) of the Reserve Bank of India has decided to maintain the existing policy rate following its 62nd meeting. This decision reflects a careful assessment of macroeconomic indicators amidst evolving financial developments.
The Madras High Court ruled on the evidentiary requirements for invoking Section 107A for pharmaceutical exports aimed at regulatory approval. The decision aims to provide clearer guidance but raises concerns about burdens on manufacturers.
The NCLT Cuttack restored directors and appointed an Administrator under Section 242(4) in response to claims of minority shareholder oppression.