AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI hosted a conference focused on cooperative societies, emphasizing the need for enhanced governance. Key officials from the RBI and state registrars participated in the discussions.
The RBI has scheduled an Overnight Variable Rate Reverse Repo auction for September 3, 2026, with a notified amount of ₹6,00,000 crore. This auction is part of the RBI's liquidity management strategy.
In KVIC v. Jaishukh N. Bhuta, the Bombay High Court distinguishes between disobedience of an injunction and the consequences of that disobedience. This ruling has implications for how courts may approach punitive measures for breaches.
SEBI clarifies that D-PMS clients can pledge their securities without violating regulatory compliance, with assets under management remaining until invocation.
SEBI has proposed to exempt eligible listed issuers from the mandatory appointment of merchant bankers for small-value debt private placements not exceeding Rs.10,000. This aims to simplify compliance for smaller issuers.
The Reserve Bank of India has appointed Shri Suman Ray as Executive Director effective September 1, 2026. Mr. Ray brings over 30 years of experience in central banking to his new role.
The Calcutta High Court accepted an ED officer's apology for a prima facie violation of a stay order during a seizure but cautioned against future infractions and closed contempt proceedings.
The ITAT determined that high-value transactions do not automatically trigger an income tax notice, allowing a taxpayer to receive a TDS refund of Rs. 5.31 lakh despite such notifications. This ruling aids in clarifying taxpayer rights regarding refunds.
The ITAT remanded a taxpayer’s political donation deduction claim, emphasizing that the disallowance cannot occur based solely on third-party statements without verifying the information through enquiry.
The ITAT has ruled that manual filing of CA-certified Form 26A is a mere procedural lapse and permits relief for a TDS demand. The decision reflects a lenient approach towards tax compliance procedural discrepancies.
The Income Tax Appellate Tribunal (ITAT) affirmed that tax rebate under Section 87A is allowable on short-term capital gains as per Section 111A. This decision clarifies the interplay between tax rebates and various capital gains categories for the assessment year.
The Reserve Bank of India has amended the CRR and SLR regulations for Small Finance Banks, allowing exemptions connected to new deposit guidelines.
The Reserve Bank of India has amended the CRR and SLR requirements for Regional Rural Banks, granting exemptions for new deposits.