Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Guidelines have been issued regarding the audit requirements for foreign subsidiaries while filing the Annual Performance Report under FEMA. These details are crucial for compliance.
The RBI's Monetary Policy Committee has decided to keep the repo rate unchanged at 5.25%, opting for a cautious approach in light of global economic uncertainties.
The NCLT has admitted an insolvency plea against Evoq Remedies for failing to refund a ₹1.95 crore advance, marking the beginning of insolvency proceedings against the company.
Despite objections under Section 10A of the IBC, the NCLT permitted an amendment regarding the default date in the insolvency plea against Coffee Day Global Ltd, viewing it as clarificatory rather than a new claim.
The NCLT ruled that a Yes Bank loan secured on promoters’ property is to be reclassified as unsecured debt in the context of Roofco Trading's insolvency. This ruling clarifies the definition of secured debt under the IBC.
The NCLT has admitted a Section 9 plea against Evoq Remedies for failing to refund ₹1.95 crore for goods that were not delivered, initiating insolvency proceedings against the company.
The NCLT has initiated a CIRP against a paper mill due to the absence of a genuine dispute regarding an operational debt of ₹1.25 crore. An Interim Resolution Professional has been appointed.
The CBDT hosted a webinar discussing the new Income-tax Act, 2025, with over 1,100 participants from 16 countries. The session focused on India’s evolving tax framework and international tax cooperation.
The NCLT permitted the correction of a default date in an insolvency plea against Coffee Day Global Ltd, ruling that it constituted a clarificatory amendment and did not introduce a new claim.
The Ministry of Corporate Affairs (MCA) has announced a relief measure extending deadlines for name reservations and e-form resubmissions following a data centre fire. Instances will be evaluated on a case-by-case basis.
The Calcutta High Court has upheld a bank's decision to withhold a No Due Certificate, affirming that all loan-related charges must be settled before such certification is granted.
The Reserve Bank of India has released a third amendment to the Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) for commercial banks, adjusting liquidity management rules.