Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Reserve Bank of India (RBI) has amended its investment directions, permitting Urban Cooperative Banks (UCBs) to invest in the IDPIC for membership acquisition, effective September 2, 2026.
The Goods and Services Tax Appellate Tribunal has determined that a taxpayer's reversal of Input Tax Credit (ITC) cannot be denied solely due to the absence of a reason in Column 8 of Form GST DRC-03.
The Ministry of Corporate Affairs (MCA) has extended the deadline for the CCFS-2026 compliance scheme to September 15, 2026, allowing companies additional time for their statutory filings.
The Registrar of Companies (ROC) has imposed a penalty of Rs. 5.5 crore on a company for accepting preferential allotment funds from a bank account not owned by the subscriber.
Section 6 of the Companies Act 2013 declares provisions conflicting with the Act as void, offering critical insights into corporate governance and compliance.
The distinction between merger and demerger routes remains critical under the Companies Act and Income-tax Act, influencing tax neutrality and loss carry-forward provisions.
The NCLT has approved a scheme for Siyaram Silk Mills to issue bonus preference shares, contingent on compliance with the Companies Act and SEBI regulations. This decision reinforces the procedural framework for corporate finance.
The Reserve Bank of India has issued the Second Amendment Directions regarding the interest rates applicable to deposits in rural co-operative banks. The amendments aim to provide more flexibility amidst evolving market conditions.
The Reserve Bank of India has published the Second Amendment Directions, 2026 concerning urban co-operative banks, focusing on the classification, valuation, and operation of their investment portfolios, particularly in non-SLR securities.
In a new initiative, the RBI has mandated scheduled commercial banks and other financial institutions to report relief measures in areas impacted by natural calamities through the Centralised Information Management System (CIMS) portal. This half-yearly return is aimed at improving the efficiency of aid distribution.
The Reserve Bank of India has directed Authorized Dealer Category-I banks to furnish an updated list of all their offices and branches that maintain Rupee accounts for non-resident banks. This directive aims to ensure better regulatory oversight and compliance in the banking sector.
The RBI reported the results of the Treasury Bills auction held on September 3, 2026, with a total notified amount of ₹24,000 crore across three tenors. The cut-off yields were set at varying rates for each tenor.