Karnataka High Courtcriminal
S.45(1) PMLA Exempts Women from Twin Conditions
Karnataka HC ruled that Section 45(1) of the PMLA allows bail for women without meeting the standard twin conditions.
Jul 5, 2026Read more →
Legal News & Insights
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Karnataka High Courtbanking
Statutory First Charge Prevails Over SARFAESI: Karnataka HC Ruling
The Karnataka High Court ruled that statutory first charges supersede the SARFAESI Act's priority in asset disputes, affirming the precedence of statutory rights.
Jul 5, 2026Read more →
NCLTpropertycorporate
NCLT Admits CIRP Due to Failure to Deliver Possession
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) petition after determining that failure to deliver possession within the promised timeline constitutes financial default.
Jul 5, 2026Read more →
NCLTpropertycorporate
NCLT: RERA Proceedings Cannot Prevent Homebuyers' Insolvency Plea
The NCLT has ruled that delays from RERA proceedings cannot bar homebuyers from initiating insolvency proceedings against developers.
Jul 5, 2026Read more →
Calcutta High Courtbanking
Calcutta HC Quashes SBI Fraud Notice Citing Inconclusive Audit
The Calcutta High Court has quashed the State Bank of India's fraud categorization notice, ruling that the forensic audit was inconclusive due to missing financial records.
Jul 5, 2026Read more →
Calcutta High Courtcriminal
Calcutta HC Allows Police Probe in Eraaya Lifespaces Case
The Calcutta High Court has permitted the continuation of a police investigation into alleged conspiracy and forgery by Eraaya Lifespaces, ruling that the allegations are not entirely improbable.
Jul 5, 2026Read more →
NCLATcorporate
NCLAT Validates Late E-filing Under IBC, Condoning Delay
NCLAT has condoned a 15-day delay in an appeal e-filed at 9 PM on the last permissible day, affirming that digital filing aligns with the intent of the Insolvency and Bankruptcy Code (IBC). The ruling emphasizes the accessibility of justice through digital means.
Jul 5, 2026Read more →
Income Tax Appellate Tribunaltax
Retrospective Amendment Cannot Trigger Penalty on Valid Education Cess Claim
The ITAT has granted tax relief by deleting an under-reporting penalty linked to an education cess claim deemed bonafide. This ruling clarifies the implications of retrospective amendments on taxpayer liabilities.
Jul 5, 2026Read more →
Income Tax Appellate Tribunaltax
Loose Sheets Not Evidence for Addition under Section 69: ITAT
The ITAT has held that loose sheets found during a search, lacking corroborative evidence, cannot justify an addition under Section 69 of the Income Tax Act. This ruling sets a precedent for the treatment of unverified documents in tax assessments.
Jul 5, 2026Read more →
Income Tax Appellate Tribunaltax
ITAT Orders Fresh Hearing on ₹53 Lakh Cash Deposits
The ITAT has directed a fresh hearing regarding ₹53 lakh cash deposits of a taxpayer, acknowledging claims of mental and neurological illness. This order aims to ensure fairness in tax assessments.
Jul 5, 2026Read more →
Income Tax Appellate Tribunaltax
Relief to Bank of Nova Scotia: ITAT Rules Interest to RBI Is Compensatory
The ITAT has determined that interest paid by the Bank of Nova Scotia to the Reserve Bank of India for failing to meet the Statutory Liquidity Ratio (SLR) is compensatory and thus deductible. This marks a significant ruling regarding the treatment of such interest payments.
Jul 5, 2026Read more →
N/Acorporate
Cyril Amarchand Mangaldas advises Kotak Mahindra Bank on acquisition of Private Banking & Wealth Management Business of Deutsche Bank
Cyril Amarchand Mangaldas facilitated Kotak Mahindra Bank's acquisition of Deutsche Bank's Private Banking and Wealth Management business, showcasing their expertise in financial transactions.
Jul 4, 2026Read more →
Karnataka High Courtlabour
Gig Workers Act: Karnataka HC grants interim protection to IAMAI, Swiggy, Zomato, others but orders deposit of welfare fee
The Karnataka High Court offers interim protection to aggregators under the new Gig Workers Act, while also mandating the deposit of welfare fees.
Jul 4, 2026Read more →