AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Gujarat High Court ruled that a 28-month-old broker register entry does not justify reopening income tax assessments. The decision emphasizes the need for a direct connection to trigger tax actions.
The Gujarat High Court upheld the status of the Ahmedabad Urban Development Authority (AUDA) as a charitable organization, despite its commercial activities. The ruling reinforces the notion that charitable objectives can coexist with commercial operations.
The Reserve Bank of India has released directives to enhance customer protection in electronic banking transactions across various banking sectors.
The Reserve Bank of India has issued new Master Directions regarding credit derivatives, which will govern the functioning of credit derivatives markets in India.
SEBI has revised the securitised debt rules concerning originator representation and SPDE acquisitions, enhancing clarity and regulatory requirements for market participants.
SEBI has revised buy-back rules, now making the involvement of a merchant banker optional. The changes also introduce a 15% open-market cap along with new timelines effective August 1, 2026.
The revised IPF framework necessitates that at least 95% of investment income be utilized to strengthen the corpus, while allowing up to 5% for specified administrative and statutory expenses starting September 1, 2026.
SEBI has amended the Mutual Funds Regulations, 2026, allowing mutual funds to engage in intraday borrowing to address timing mismatches, contingent upon adhering to conditions set by SEBI.
SEBI mandates that custodians will now be required to report and pay fees on a monthly basis, effective from October 1, 2026. This change is part of an ongoing effort to enhance compliance and oversight.
SEBI's recent notification updates the fee structure and registration requirements for Foreign Portfolio Investors (FPIs). Significant changes include revised remittance timelines and effective dates aligned with the amended 2019 Regulations.
The NCLAT ruled that the articles of association cannot override the eligibility requirements in the Companies Act for CFO appointments.
The Kerala High Court held that NCLT is empowered to accept additional pleadings in Section 7 IBC proceedings.
The Madhya Pradesh High Court ruled that a bona fide dispute regarding a debt prevents winding-up petitions under Section 433(e).