AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
Amendments to DIR-3 KYC compliance require directors to file every three financial years. The new system also mandates that changes in particulars still be reported within specified timelines.
An analysis confirms that loss-making companies can issue bonus shares from their Securities Premium Account, contingent on compliance with Section 63 of the Companies Act.
The MCA has amended the valuation rules for Registered Valuer Organisations, mandating a minimum paid-up capital of ₹25 lakh, thereby enhancing financial and governance standards.
The NCLT Delhi has dismissed Jiostar India's insolvency plea regarding unexecuted agreements, stating they do not qualify as operational debt under Section 9 of the IBC.
The ITAT has directed the CIT(A) to reassess a co-operative society's claim regarding Section 80P deductions, emphasizing the need for substantiation of the claim. This ruling addresses the treatment of ₹19.37 lakh taxed as income from other sources.
The Reserve Bank of India (RBI) has confirmed the withdrawal of ₹2000 banknotes, with deposit and exchange facilities available until October 7, 2023. This move follows the RBI's earlier press release on the status of the withdrawal.
The article discusses the absence of explicit prohibitions on round-tripping under FEMA while highlighting regulatory controls through other fiscal measures.
The RBI has reiterated the compliance requirements for software and ITES exporters regarding the annual survey based on the previous financial year.
The RBI has clarified the reporting requirements for Portfolio Investment Positions, enhancing the accuracy and consistency of cross-border investment data.
FEMA mandates strict compliance for companies receiving foreign investments, including reporting and approval requirements, to avoid penalties and regulatory action.
The Institute of Chartered Accountants of India has announced a call for applications for faculty empanelment for live virtual classes. Eligible applicants must apply by June 24, 2026, indicating a push toward quality education delivery in chartered accountancy.
The Ministry has expanded the Board of Trade, adding 40 non-official members to enhance India's export competitiveness and trade policy. This reconstitution aims to bolster state-level participation and infrastructure development in foreign trade.
The NCLT Delhi has rejected an insolvency plea by Jiostar India, clarifying that unexecuted agreements do not constitute operational debt under section 9 of the IBC. The dismissal allows for recovery through other legal means.