AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has issued guidelines enabling exporters to write off unrealized export proceeds, subject to certain limits and documentation requirements. This move aims to facilitate easier compliance for exporters and CFOs managing such accounts.
The SEBI Appellate Authority reaffirmed that it is not obligated to create or compile information as per the RTI Act. This decision pertains to vague and confidential queries submitted through the RTI process.
Uncertainty in West Asia has led to an increase in India's net crude import, with the Finance Ministry reporting that 70% of imports are secured outside the Strait of Hormuz. This trend raises concerns regarding fiscal deficits and current account balance.
The CBIC has issued a circular allowing temporary cargo operations diverted to Indian seaports and airports due to the closure of the Strait of Hormuz. This measure is aimed at facilitating trade amidst ongoing geopolitical tensions.
The SEBI First Appellate Authority has rejected an RTI appeal that sought clarifications outside of the CPIO's obligations under Section 2(f) of the RTI Act. The ruling underscores the Authority's position that such requests for opinions do not fall under the purview of the RTI.
The ITAT ruled that ad-hoc additions for undervaluation of closing stock are unsustainable if specific undervaluation is not identified. The ruling emphasizes the need for detailed assessment in tax evaluations.
The Income Tax Appellate Tribunal (ITAT) has condoned a 247-day delay in a farmer's tax appeal after his Chartered Accountant failed to respond to tax notices. The matter has been remanded for a fresh hearing.
The University of Cambridge emerged victorious at the 11th HSF Kramer-NLU Delhi International Negotiation Competition, held from August 21 to 23, 2026. The competition involved 38 teams from global law schools, showcasing rigorous negotiation skills.
The Reserve Bank of India has levied a penalty of ₹2.70 lakh on Progfin Private Limited for non-compliance with KYC regulations. The decision highlights RBI's focus on regulatory compliance.
The Reserve Bank of India will auction Government of India Treasury Bills on August 27, 2026, comprising 91, 182, and 364-day instruments totaling ₹17,000 crore.
The RBI has announced the results of the 7-day Variable Rate Reverse Repo auction held on August 24, 2026. The total amount received in offers was ₹91,980 crore, which was fully accepted at a cut-off rate of 5.24%.
The Allahabad High Court has dismissed a GST writ on the grounds of non-participation by the petitioner, finding no statutory barrier in scheduling reply and personal hearing on the same date.
The Karnataka High Court directed an aggrieved borrower to follow the statutory appeal process under the SARFAESI Act instead of invoking Article 226 for writ jurisdiction. This guidance reinforces the necessity of adhering to established legal remedies.