AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The SEBI has dismissed allegations of fraud against Axis Bank, citing a lack of substantial evidence for claims of disclosure violations and market manipulation.
The Reserve Bank of India has issued updates to interest rate directions for rural, urban, regional rural, local area, and small finance banks, reinforcing temporary changes applied to interest rates on deposits amidst evolving financial conditions.
The Reserve Bank of India has issued a second amendment to the directions governing the investment portfolio of urban co-operative banks, focusing on the classification, valuation, and operation of investments in non-SLR securities.
The Reserve Bank of India has issued a new circular detailing requirements for Authorized Dealer Category-I banks regarding the maintenance of Rupee accounts for non-resident banks. This aims to ensure an updated list of offices managing these accounts.
Justice KV Viswanathan of the Supreme Court cautioned about the perils of AI translation in legal contexts, citing a misinterpretation of 'leave granted' in a ruling. He highlighted the need for careful use of technology in legal proceedings.
A Mumbai civil court has issued an interim order preventing the publication of any defamatory material against actress Sayani Gupta regarding her film Aasmani, following a ₹9 crore defamation suit she filed.
Ex-Supreme Court Justice Rajesh Bindal stated that courts should rely solely on evidence presented during trials, rejecting influences from social media or public narratives. He advocated for a gender-neutral approach in the justice system.
The Maharashtra government has mandated ILS Law College to refund ₹1,04,863 to a former student due to the collection of excess fees without university approval. This order follows multiple inquiries into the fee structure at the college.
The Goods and Services Tax Appellate Tribunal (GSTAT) held that the 'Reasons, If Any' field in Column 8 of Form DRC-03 is not mandatory for a valid Input Tax Credit (ITC) reversal, allowing taxpayers to pursue claims without this requirement.
The RBI has introduced the Third Amendment Directions regarding interest rates on deposits for rural co-operative banks, allowing changes to the previous ceilings on deposit interest rates. This is part of a broader regulatory reform to enhance banking operations.
The RBI has issued the Second Amendment Directions for urban co-operative banks concerning the classification, valuation, and operation of their investment portfolios. This amendment is aimed at refining investment strategies to enhance financial stability.
The RBI issued a circular on Rupee accounts maintained by non-resident banks requiring Authorized Dealer banks to provide an updated list of all their offices or branches holding such accounts. The directive aims to enhance the regulation and reporting mechanisms related to foreign currency transactions.
The RBI reported the summary results of a buyback auction for government dated securities, with no amounts accepted. This may influence the market's perception of government financing.