AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI has been updating the status of the ₹2000 banknote withdrawal, available until October 7, 2023. The latest announcement dated April 1, 2026, highlights the ongoing monitoring of this process.
The Allahabad High Court has granted bail to eight individuals accused of hosting an iftar on the Ganga river, amidst ongoing legal proceedings regarding their case. The petitions for the remaining accused are still pending.
Law Society of England and Wales President Mark Evans emphasizes the need for stronger legal ties between the UK and India to enhance economic growth and trade. His remarks during a recent visit to India highlight the importance of cross-border collaboration in the legal sector.
Startup founders in India must prioritize timely ROC filings in 2026 to avoid penalties and ensure smooth funding processes, emphasizing the importance of corporate compliance.
The RBI has cancelled the licence of Sarvodaya Co-operative Bank, ensuring that 98% of depositors will be secured under the ₹5 lakh insurance limit. This decision underscores the RBI's commitment to safeguarding depositor interests.
The ITAT Delhi ruled that mere projections of future income cannot lead to tax additions without actual accrual or enforceable rights.
The Bombay High Court highlighted that the powers under Section 263 cannot be applied if the Assessing Officer has made inquiries and reached a plausible conclusion.
ITAT Delhi ruled that an explanation regarding cash found during a tax search cannot be dismissed as an 'afterthought' without evidential rebuttal.
The RBI has issued second amendment directions regarding credit risk management for Non-Banking Financial Companies (NBFCs), impacting their compliance and risk management protocols.
The RBI has introduced second amendment directions focusing on credit risk management for rural cooperative banks, aiming to reinforce financial oversight and management.
The RBI has released amended directions on the resolution of stressed assets for All India Financial Institutions to strengthen financial stability and mitigate risks associated with non-performing assets.
The RBI has released second amendment directions to enhance credit risk management standards for regional rural banks, ensuring their resilience against financial distress.
The RBI has issued amendment directions regarding income recognition, asset classification, and provisioning for All India Financial Institutions, further refining financial compliance standards.