AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Insolvency and Bankruptcy Board of India (IBBI) introduced new governance norms for insolvency professional agencies, mandating that managing directors receive prior approval from the IBBI. The reforms also tighten eligibility criteria for directors.
The RBI has imposed a ₹3.10 lakh penalty on IIFL Finance Limited due to non-compliance with regulatory directives under NBFC regulations.
The RBI imposed a ₹5.80 lakh penalty on Appnit Technologies for KYC non-compliance, reinforcing regulatory adherence in financial practices.
Zee Entertainment has filed a lawsuit against Nykaa, seeking damages of INR 2 crores for the alleged unauthorized use of copyrighted songs in Instagram reels. This case highlights the ongoing struggles related to copyright enforcement in the digital marketing space.
The Supreme Court upheld previous rulings on the classification of quicklime, affirming that it falls under CTH 2522 based on purity standards.
The Madras High Court has permitted Nidhi companies to submit fresh replies against NDH-4 rejection orders, mandating that authorities reconsider these applications after granting a hearing. The court left open the challenge to the validity of the amended provisions.
The Karnataka High Court directed the ED to provide justification for the arrests of Gameskraft founders. The Court is reviewing the legality of their May 8 detention.
The Madras High Court restored a writ petition concerning the EPF Board's decision in the Poppys Knitwear case, setting aside the single-judge dismissal and allowing for adjudication on merits. This decision opens the door for further legal challenge against the tribunal's reversal.
The Reserve Bank of India has imposed a monetary penalty of ₹1.50 lakh on Jilla Sahakari Kendriya Bank Maryadit for violating KYC norms under the Banking Regulation Act. This reinforces the regulatory emphasis on compliance.
On May 15, 2026, the Reserve Bank of India conducted an underwriting auction for government securities, setting cut-off rates for underwriting commissions payable to Primary Dealers. This auction included key financial specifics crucial for participating entities.
The Calcutta High Court has directed the RBI to reconsider an NBFC's surrender plea, emphasizing the need for a fair hearing before rejection based on meeting performance benchmarks.
The High Court upheld the DICGC's right to priority recovery of interim payments from insured banks, reinforcing legislative competence. This judgment has significant implications for depositors and the financial sector.
The IBBI has amended regulations to introduce nominee directors on the governing boards of insolvency professional agencies, aimed at improving accountability and oversight.