Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Reserve Bank of India has released the second amendment directions for Priority Sector Lending for the year 2026-27, enhancing the framework for financial institutions. This amendment introduces fresh provisions that affect the lending practices in multiple sectors.
The Reserve Bank of India has invited public comments on its draft directions regarding the Credit Valuation Adjustment (CVA) framework, aiming to enhance risk management in financial transactions.
In the case of Novartis AG v. Venkata Narayana Active Ingredients, the Madras High Court examined the evidentiary requirements for invoking Section 107A related to Bolar exemptions. The decision aims to simplify compliance for manufacturers seeking regulatory approval for exports.
The Calcutta High Court has mandated that hotels should acquire copyright licenses for music played through cable television in guest rooms, reinforcing the concept that such services constitute public communication under copyright law.
The Karnataka High Court granted anticipatory bail to GST dealers by stating that a bogus GST ITC claim by a supplier cannot be grounds for penalizing a genuine purchaser without proof of collusion. This protects buyers in situations involving fraudulent claims.
The GST Appellate Tribunal ruled that the benefit of input tax credit (ITC) is specific to projects, thus homebuyers cannot be excluded from claiming ITC if construction spans periods before and after GST. This interpretation is critical for project developers and buyers alike.
The Goods and Service Tax Appellate Tribunal (GSTAT) ruled that appeals regarding refunds of pre-GST unutilised CENVAT credit should be heard by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT). This decision clarifies the appropriate judicial body for handling such matters.
The Supreme Court affirmed that an Assessing Officer can rely on a Deputy Valuation Officer's (DVO) report only after appropriately rejecting the assessee's book of accounts.
The Reserve Bank of India has issued its Fourth Amendment Directions for Commercial Banks regarding their Responsible Business Conduct, with updated guidelines for recovery agent engagement.
The Reserve Bank of India has issued the Fourth Amendment to the Responsible Business Conduct Directions for Small Finance Banks, focusing on revised guidelines for recovery agents.
The Reserve Bank of India has introduced the Fourth Amendment to Responsible Business Conduct Directions for Local Area Banks, detailing new protocols for recovery agents.
The Reserve Bank of India has announced the Fourth Amendment to its Responsible Business Conduct Directions for Regional Rural Banks, focusing on the engagement practices of recovery agents.