Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Senior Advocate Darius Khambata criticized the Finance Ministry’s 2024 arbitration memo, labeling it as a reaction from a 'disgruntled litigant' during a recent symposium. This highlights ongoing tensions regarding arbitration practices in Indian governance.
SEBI has launched an IT Resilience Index Framework specifically for Market Infrastructure Institutions (MIIs), incorporating system-driven scoring and real-time service monitoring to bolster operational resilience.
SEBI has restructured its cyber incident reporting portal to adhere to the Financial Stability Board's (FSB) Framework for Improving Cyber Resilience (FIRE), mandating a structured and systematic approach for regulated entities.
SEBI, RRU, and NISM have formalized cooperation through a tripartite MoU aimed at enhancing training, research, and cybersecurity within the securities market. This collaboration is expected to foster innovation in market practices.
The RBI has released amendments to the Priority Sector Lending Directions, enhancing targets and classifications for financing. This reflects a strategic focus on boosting sectors pivotal for economic growth.
The Supreme Court reiterated that the 1978 Bangalore Water Supply ruling continues to apply to pending cases under the Industrial Disputes Act.
The Karnataka High Court upholds the 2013 Act providing compensation and tax exemptions for KIADB land acquisitions from 2014 onward, dismissing the writ appeals.
The Rajasthan High Court has overturned the withholding of a Sub-Inspector appointment due to a matrimonial FIR. It emphasized that the Committee must evaluate the relevance of such moral turpitude before denying appointments.
The Reserve Bank of India has imposed penalties ranging from ₹1 lakh to ₹2.5 lakh on multiple co-operative banks in Karnataka for non-compliance with prescribed banking regulations.
The Supreme Court has affirmed the constitutionality of Section 16(2)(c) of the CGST Act, although questions remain regarding supplier payment verification and protection for bona fide purchasers.
The Gujarat High Court quashed GST cancellation and appellate orders based on AI-generated, non-existent judgments. The ruling mandates that fresh proceedings be conducted in accordance with GST law.
The Reserve Bank of India has updated lists of sanctioned entities aligned with UN Security Council mandates, directing regulated entities to ensure compliance under the Unlawful Activities (Prevention) Act. This action emphasizes the importance of compliance within the financial sector.