AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The IRDAI has addressed public comments on the draft Manner and Procedure for Imposing Penalties Regulations, clarifying terms and procedures for enforcement. This move aims to enhance accountability in the insurance sector.
The IRDAI has issued its responses to public comments regarding the Draft Actuarial, Finance and Investment Functions Amendment Regulations, revising them based on stakeholder inputs. Key modifications have been detailed.
The IRDAI has published a comprehensive summary of responses to public comments concerning the Draft Policyholders' Education and Protection Fund Regulations, 2026. The response addresses fund management and committee governance.
The Rajasthan High Court set aside the arbitrary suspension of an IRS officer, restoring service benefits and promoting consideration. The court awarded ₹5 lakh as exemplary costs due to the wrongful suspension.
The Reserve Bank of India has launched a concessional swap facility for FCNR(B) deposits, ECBs, and OFCBs, operational until late 2026. This initiative aims to bolster forex inflows, supporting the country's forex liquidity.
The Delhi High Court's extensive pro-tem security deposit order in InterDigital v. Transsion provides nuanced insights into standard-essential patents and interim orders.
The Bombay High Court has granted interim protection against a GST demand regarding flats given free of charge to landowners, preventing coercive action without judicial consent. This decision underscores the importance of fair procedures in tax assessments.
The Kerala High Court ruled that non-receipt of an assessment order does not allow taxpayers to bypass statutory appeals, emphasizing the statutory obligations of tax authorities.
The Kerala High Court ruled that taxpayers can't be denied an opportunity to appeal due to bona fide mistakes regarding procedural requirements. This decision reinstates their right to adjudication based on merits.
The Kerala High Court affirmed that grounds for cancellation of GST registration under Section 29(2) of the CGST Act apply as per circumstances at the time of original registration, not amendments. Thus, fraud claims related to amendment applications do not justify revoking prior registrations.
The Kerala High Court ruled that property owners cannot evade capital gains tax merely because the sale proceeds were appropriated by a mortgagee bank. This decision reinforces the principle of liability in distress sales.
The Kerala High Court has remanded an appeal regarding anonymous donations back to the First Appellate Authority for a thorough reassessment. The Court emphasized the need for a final determination by the authority on the factual disputes presented.
SEBI has established a framework for ISIN-level freezing of promoter holdings during buy-back operations, aiming to enhance market compliance and integrity. This measure is part of a broader move towards preventive regulatory measures.