AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Calcutta High Court has quashed the classification of a cash credit account as a Non-Performing Asset (NPA), ruling that it did not meet the RBI's 90-day overdue criteria. This decision illuminates the enforcement of SARFAESI regulations in banking.
NCLT admitted Canara Bank's insolvency plea of ₹119.64 crore, stating that the pending Corporate Insolvency Resolution Process (CIRP) for the principal borrower does not impede seeking insolvency against a corporate guarantor.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) after bank records established financial debt and default. This plea involved a total financial claim of ₹11.83 crore.
The Food Safety and Standards Act, 2006 sets the legislative framework for food safety regulations in India. It emphasizes a science-based, risk-proportionate approach to ensure public welfare in food manufacturing and distribution.
SEBI has proposed to exempt eligible listed issuers from needing to appoint a merchant banker for small-value debt private placements of Rs. 10,000.
SEBI has extended the implementation date for revised ETF trading norms to September 7, 2026. This extension affects the base price, price bands, and conduct of pre-open call auctions.
The NCLT Bengaluru has sanctioned the amalgamation scheme between Aureustech Systems and Happiest Minds Technologies, effective from April 1, 2026, subject to statutory compliance and undertakings.
The NCLT Chennai has sanctioned TVS Holdings’ scheme to issue 46 bonus preference shares for each equity share. This approval is subject to compliance with statutory directions.
The IRDAI health insurance sub-committee has recommended reforms aimed at simplifying insurance policies and expediting the claims process.
The SAFEMA Appellate Tribunal dismissed 18 revenue appeals, ruling that share transactions could not be classified as benami if the owners were aware of the allotments, indicating a significant interpretation on the distinction between tax evasion and benami transactions.
The NCLT has admitted Canara Bank’s insolvency plea against a corporate guarantor of ₹119.64 Cr, confirming that pending insolvency of the principal borrower does not halt guarantor proceedings.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) based on bank records that established financial debt and ongoing default of ₹11.83 Cr, fulfilling statutory requirements.
NCLT Delhi has sanctioned the merger of Ambrosia Corner House with Kafila Hospitality, emphasizing compliance with statutory, tax, and liability obligations.