Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The RBI has introduced the Second Amendment Directions, 2026 for Local Area Banks regarding Income Recognition, Asset Classification, and Provisioning. These amendments are part of the continuous regulatory updates aimed at resolving stressed assets in financial institutions.
The RBI has circulated new guidelines regarding Special Rupee Vostro Accounts (SRVAs) aimed at facilitating international trade settlements in Indian Rupees. Authorised Dealer Category-I banks are urged to refer to previous circulars for comprehensive understanding.
The 2026 amendment to the AIF Regulations revises the scheme fees, filing requirements, and provisions for Accredited Investors only funds.
The Securities and Exchange Board of India (SEBI) has permitted standing instructions for Systematic Withdrawal Plans (SWP) and Systematic Transfer Plans (STP) for demat mutual fund units, effective January 31, 2027.
The Gujarat High Court upheld the requirement for an agricultural science degree for valuers of agricultural lands, dismissing a petition challenging the regulatory framework.
The DGFT has amended the Handbook of Procedure 2023 to introduce Tariff Rate Quotas (TRQ) for imports of dates and marble under the India-Oman Comprehensive Economic Partnership Agreement. Applications for TRQ authorisations must be filed online, subject to customs notifications.
The NCLAT ruled to dismiss an insolvency plea against SBI loans, referencing fraud allegations that invalidated the loan documents.
The NCLAT ruled that the appeal against the resolution plan is not maintainable. However, the Ayra Consortium retains the right to argue its intervention application at a later stage.
NCLT Mumbai has granted a waiver of the maintainability objection under Section 244(1)(b), allowing further proceedings in a petition regarding oppression and mismanagement.
The Supreme Court annulled a SARFAESI auction sale, citing non-compliance with payment rules, and provided a one-time opportunity for the legal heir to redeem the property. The ruling emphasizes adherence to auction procedures.
The Karnataka High Court denied a request to transfer a winding-up petition to the NCLT, ruling that the advanced stage of liquidation requires proceedings to continue in the High Court. This highlights jurisdictional issues in corporate insolvency cases.
The NCLAT annulled the admission of a Section 9 insolvency application due to the admitted debt being less than ₹1 crore, ordering a refund of ₹91.98 lakh. This ruling clarifies the threshold for invoking insolvency proceedings under Section 9.