AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI is conducting a comprehensive review of circulars issued under the Foreign Exchange Management Act (FEMA) since June 2000. The initiative aims to simplify and rationalise the regulatory framework for authorised persons.
The Delhi High Court reviewed jurisdictional issues related to an IP dispute between Hindustan Unilever and Kwick Living, highlighting the complexity of territorial jurisdiction in the digital age.
The Calcutta High Court ruled that hotels must obtain IPRS licenses to broadcast music in guest rooms, emphasizing copyright compliance in hospitality operations.
A CBI Court has convicted a bank manager and several borrowers for their involvement in a ₹2.82 crore cheating case related to CGTMSE loans. The decision highlights ongoing enforcement against financial fraud.
The Bombay High Court has quashed the Enforcement Directorate's freeze on ₹100 crore worth of assets belonging to Coda Payments, ruling that the ED did not comply with the mandatory provisions of the Prevention of Money Laundering Act.
The Karnataka High Court ruled that the six-month limit under Section 35(4)(b) of the KVAT Act does not prohibit refunds deemed due during a reassessment. This ruling clarifies the interpretation of refund claims in light of reassessment findings.
The Karnataka High Court has upheld a ₹12.61 lakh KVAT demand against Yes Bank, affirming the findings related to the turnover discrepancies in the bank's bullion purchase figures. The court found no perversity in the turnover calculations as argued by the bank.
The NCLAT has set aside a CIRP application, ruling that defaults alleged during the COVID-19 lockdown phase are protected from insolvency actions under statutory restrictions.
NCLAT has struck down notices issued to the ED and CBI by the NCLT, concluding that statutory compliance in issuing such notices was not met.
The NCLAT dismissed a claim of ₹18.85 crores against a corporate debtor due to lack of banking proof and absence of a valid memorandum of understanding (MoU) to establish financial debt.
The NCLAT has invalidated a ₹135 crore resolution plan as the de-notification process of the SEZ was found incomplete. The absence of GIDC’s consent rendered the proposed changes in land use unviable.
The RBI has notified updates to the UNSC's 1988 Taliban sanctions list as part of compliance with Section 51A of the UAPA, 1967. The amendments require vigilance in banking operations to prevent financing of terror activities.
The RBI has issued notifications regarding updates to the UNSC’s Al-Qaida sanctions list as part of the implementation of Section 51A of the UAPA, 1967. Banks and financial institutions are mandated to comply with these updates to enhance national security measures.