AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Calcutta High Court has issued a stay on coercive actions by tax authorities against the petitioner concerning time-barred reassessment proceedings. This decision underscores the significance of adherence to statutory time limits.
NCLAT maintains that supply dues between consortium partners are actionable under IBC, reinforcing the status of such obligations as operational debt. This ruling strengthens the position of suppliers in corporate insolvency processes.
The NCLT Mumbai has ordered a director to refund rental income that was diverted through forged lease agreements, mandating the amount to be returned with 12% interest. This decision highlights the tribunal's stance against fraudulent conduct and its implications for corporate governance.
The Insolvency and Bankruptcy Board of India (IBBI) has imposed a three-year suspension on an insolvency professional for failing to disclose a conflict of interest during the resolution of a RERA-linked scheme. This highlights the regulatory body's commitment to uphold ethical standards in insolvency management.
The National Company Law Appellate Tribunal (NCLAT) has ruled that financial proposals in the Corporate Insolvency Resolution Process (CIRP) cannot be altered after the challenge process begins. This prevents any post-bid modifications that could undermine the resolution process.
The Reserve Bank of India has announced an auction for state government securities amounting to ₹18,600 Crore, allowing states to raise funds for various projects.
ROC Chennai penalized a company and its director for failing to include PAN and email IDs of allottees in Form PAS-3. This ruling underscores the stringent compliance requirements mandated by Rule 14(6) of the Companies Act.
The Bombay High Court ruled that a developer cannot delay the conveyance deed to a society over future FSI issues. This decision reinforces the legal obligations of developers towards housing societies.
The CDSCO's recent notice invites comments on brand name extension practices in the pharmaceutical industry, signalling potential regulatory reforms.
The Central Drugs Standard Control Organization (CDSCO) is requesting feedback on brand name extension practices in the pharmaceutical industry, signaling a potential review of longstanding industry norms.
The Central Drugs Standard Control Organization (CDSCO) is inviting stakeholder comments on its policies regarding brand name extensions in the pharmaceutical sector. This move could lead to crucial changes in the practice of branding in the industry.
RBI clarifies FLA Return applicability and the filing process via FLAIR, with a late fee of ₹7,500. The due date for filing is set for July 31, 2026.
Touchstone Partners has welcomed Tanay Agarwal and Puneeth Nagaraj as new partners, enhancing its Banking and Finance practice.