AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The NCLAT upheld an NCLT decision that struck down allegations of invalid share transfers as oppressive conduct due to non-compliance with statutory norms.
The NCLT Allahabad has sanctioned India Glycols’ demerger scheme for its biopharma and spirits businesses under Sections 230–232 after confirming statutory compliances were met.
The Reserve Bank of India has released a Master Direction regarding the detection, reporting, and monitoring of fake Indian currency notes (FICNs). This directive sets out comprehensive protocols for financial institutions to combat counterfeiting.
The Reserve Bank of India has issued a notification for the implementation of Section 51A of UAPA, 1967, which pertains to the updates on the UNSC's 1988 Taliban sanctions list. This amendment involves the modification of five entries, addressing the need for compliance and raising awareness among financial institutions.
The Delhi High Court issued an extensive pro tem order in InterDigital v. Transsion, providing clarity on standard operating procedures for ad-interim measures in SEP cases.
The Telangana High Court has quashed a municipal order that added new property tax penalties in a final notice, ruling that the taxpayer must be given an opportunity to respond to such allegations beforehand.
The Calcutta High Court ruled that any lease executed during the pendency of a SARFAESI notice is void. The court granted an injunction to the auction purchaser, protecting their possession of the secured asset.
The Reserve Bank of India has revised Asset-Liability Management (ALM) disclosure norms to align them with updated capital adequacy regulations effective from April 2027. This change aims to enhance clarity and oversight in the banking sector.
The CESTAT set aside a service tax demand of Rs. 2.31 crore concerning a technology licensing agreement with Skoda, determining it did not qualify as consulting engineer service.
CESTAT ruled that automotive gears should be classified under 'Gears and Gearing' instead of under motor-vehicle parts, leading to the setting aside of Toyota's customs demand.
The CESTAT has quashed an excise demand of Rs. 3.41 crore against Cipla, ruling it time-barred. The decision hinged on the requirement for full disclosure of annual differential refunds which precluded the invocation of the extended limitation period.
The Reserve Bank of India has unveiled its Cybersecurity, Technology Risk, Resilience, and Assurance Framework for commercial banks, setting a stringent agenda for technology management and oversight in the financial sector.
The Reserve Bank of India has consolidated its supervisory instructions into a new set of guidelines while repealing previous circulars. This move includes the issuance of 64 consolidated directions to enhance regulatory clarity.