Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The SAFEMA Appellate Tribunal dismissed 18 revenue appeals, ruling that share transactions could not be classified as benami if the owners were aware of the allotments, indicating a significant interpretation on the distinction between tax evasion and benami transactions.
The NCLT has admitted Canara Bank’s insolvency plea against a corporate guarantor of ₹119.64 Cr, confirming that pending insolvency of the principal borrower does not halt guarantor proceedings.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) based on bank records that established financial debt and ongoing default of ₹11.83 Cr, fulfilling statutory requirements.
NCLT Delhi has sanctioned the merger of Ambrosia Corner House with Kafila Hospitality, emphasizing compliance with statutory, tax, and liability obligations.
The NCLT in Bengaluru has sanctioned the merger of Aureustech Systems with Happiest Minds Technologies, establishing an appointed date for the merger of April 1, 2026.
The Delhi High Court has ordered Facebook and Instagram to remove posts infringing on the DA MILANO brand rights upon notice. This ruling emphasizes the obligation of platforms to act against intellectual property violations.
The Reserve Bank of India has shortened the temporary relaxation period for deposit rates on FCNR(B) and NRE deposits across various bank types to August 31, 2026.
The NCLT has admitted a plea by Bank of India for ₹23.66 crore, determining that financial debt and default were established independently of any questioned NPA classifications. This decision reiterates the strict criteria for proving insolvency.
The NCLT upheld an insolvency plea of ₹1.65 crore, ruling that unsupported claims of adjustment failed to demonstrate any genuine pre-existing dispute prior to the issuance of a demand notice. This ruling highlights the threshold for disputing insolvency claims.
The NCLT in Mumbai held that the insolvency proceedings against a corporate guarantor can proceed regardless of the ongoing Corporate Insolvency Resolution Process (CIRP) of the principal borrower. The ruling emphasizes the liability of corporate guarantors.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) petition for ₹11.83 crore after bank records conclusively established financial debt and ongoing default. This development emphasizes the importance of documentation in insolvency cases.
The RBI has announced an auction of Government Treasury Bills amounting to ₹17,000 Crore, scheduled for September 2, 2026.