Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Madras High Court has directed the Regional Director to hear Nidhi companies and issue final orders within four weeks after the Ministry of Corporate Affairs missed a critical deadline. This ruling underscores procedural adherence in corporate regulatory practices.
Amendments to Foreign Exchange Management regulations now allow up to 100% foreign direct investment in the insurance sector under the automatic route, subject to regulatory compliance.
The RBI has issued draft directions governing the treatment of specified non-financial assets acquired during the recovery of non-performing loans, detailing valuation and disposal requirements.
The RBI has introduced new regulations under FEMA, streamlining authorisation norms for forex service delivery and reducing compliance burdens for entities.
Amendments to the capital adequacy norms for Payments Banks now allow for quarterly profit recognition, contingent on audit compliance and prescribed deductions.
Amendments involving capital adequacy norms have been made for Small Finance Banks, revising quarterly profit inclusion in CET1 capital calculations alongside audit requirements.
The RBI has amended the guidelines for commercial banks regarding the recognition of current year profits in CRAR calculations, allowing quarterly recognition subject to audit requirements.
The RBI has revoked the banking licence of Sarvodaya Co-operative Bank following findings of inadequate capital and non-compliance with regulatory provisions. This step is taken to protect depositors and public interest.
The Reserve Bank of India has relaxed prior approval requirements for non-bank remittance platforms partnering with Authorised Dealer banks. This shift places the onus of compliance on the AD banks, enhancing customer protection.
The PFRDA has amended investment guidelines for the NPS to allow investments in Rupee Bonds issued by the New Development Bank, expanding investment options for pension funds.
The Pension Fund Regulatory and Development Authority (PFRDA) has relaxed rules on NPS annuity surrender, allowing it in cases of critical illness. This decision aims to enhance flexibility for annuitants facing hardships.
In a recent order, ROC Pune ruled that procedural lapses in a single private placement transaction do not warrant multiple penalties, clarifying the application of Section 42 of the Companies Act.