Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Madras High Court has upheld the refund of an extra duty deposit that was collected without legal authorization, reaffirming taxpayer rights under Section 27 of the Customs Act.
The Bombay High Court has remanded disputes regarding CENVAT credit refunds, suggesting that supplies to SEZs may qualify as exports. This ruling could enhance the framework for refund claims.
The Finance Ministry has extended the anti-dumping duty on Phthalic Anhydride imports from China and Korea for another five years, indicating ongoing protectionism in the domestic market.
CESTAT Hyderabad has upheld penalties against a managing partner for customs violations, reinforcing individual liability in corporate customs infractions. This ruling clarifies accountability for customs compliance.
CAAR Mumbai has reclassified Pelaforce EMA1170 under CTH 1302, making it eligible for customs benefits under Notification No. 45/2025-Customs. This modification provides a significant duty exemption for relevant imports.
SEBI has launched the GARUDA mechanism to expedite the filing and launch procedures for Alternative Investment Funds (AIF), effective immediately under revised AIF regulations.
SEBI has proposed a framework allowing Depository Receipts (DRs) against REIT and publicly listed InvIT units, seeking public comments by August 25, 2026.
SEBI has proposed changes to settlement and risk management norms aimed at simplifying compliance requirements for Market Infrastructure Institutions (MIIs). This move is expected to reduce regulatory burdens on clearing corporations.
The Securities and Exchange Board of India (SEBI) has invited public comments on proposed reforms for Real Estate Investment Trusts (REIT) and Infrastructure Investment Trusts (InvIT). These reforms aim to enhance investments, voting rights, exit offers, and infrastructure while addressing cooling-off norms.
The RBI has reinforced compliance duties under Section 51A of UAPA concerning updates to the UNSC’s sanctions list, affecting various banking and financial institutions.
The Reserve Bank of India has finalized directions concerning the conduct of regulated entities in loan recovery processes. This comes after stakeholder feedback was considered, impacting the operational frameworks for credit recovery.
The Reserve Bank of India has issued draft directions for public comment regarding concentration risk management for rural co-operative banks. This follows recent policy announcements aimed at strengthening banking regulations.