Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The NCLT determined that a money lender cannot assume the status of a financial creditor based solely on direct loan payments made to a corporate debtor’s existing bank debts. The petition was rejected.
The NCLAT has clarified that the NCLT does not possess the jurisdiction to adjudicate on disputed easementary rights concerning third-party land under the IBC, thereby protecting liquidation assets and creditor interests.
The NCLAT ruled that a clerical rectification does not reset the limitation period for appeals under Section 61 of the IBC. No appeals can be initiated beyond the stipulated 45-day time limit from the date of the order.
The ITAT has determined that income tax proceedings initiated under Section 153C are invalid due to reliance on a defective satisfaction note. This ruling is significant for taxpayers challenging the validity of tax assessments.
The ITAT has ruled that Advertising and Marketing Promotion (AMP) expenses of Samsung India cannot be subjected to benchmarking due to the absence of any international transactions. This decision clarifies the criteria needed for functional benchmarking under Indian tax laws.
The ITAT has ruled that if the Assessing Officer (AO) fails to conduct a thorough inquiry regarding an investor's creditworthiness, the Principal Commissioner of Income Tax (PCIT) must undertake such an investigation. This decision underscores the importance of proper scrutiny in income tax assessments.
The Delhi High Court ruled that lawyers providing insolvency services must collect and remit GST, marking a significant decision on tax compliance in legal services.
The Bombay High Court directed SBI and ED to confirm if Vijay Mallya's debts were settled using assets attached by the ED. This follows claims from Mallya's counsel regarding debt clearance.
The Reserve Bank of India has published the third amendment directions for Housing Finance Companies, establishing updated guidelines on recovery agent engagement under Fair Practices Code.
The Reserve Bank of India has released the Priority Sector Lending – Targets and Classification Second Amendment Directions, 2026. The amendments aim to enhance guidelines and frameworks for lending institutions.
The Reserve Bank of India has imposed a monetary penalty of ₹1.80 lakh on Valuefin India Credit Services Private Limited for non-compliance with regulatory directions pertaining to shareholding acquisition. This enforcement action highlights the RBI's regulatory authority.
The Delhi High Court's directions to Meta underscore the ongoing tension between copyright enforcement and intermediary protections under Section 79 of the IT Act. This ruling seeks to clarify the responsibilities of platforms amidst tightening IT rules.