Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
NCLT Chandigarh ordered the liquidation of a corporate debtor after the Committee of Creditors rejected its only resolution plan. The Tribunal confirmed that all criteria under Section 33 of the IBC were fulfilled.
The Calcutta High Court has dismissed an appeal regarding the classification of polypropylene leno bags, confirming they are classified as plastic articles under Chapter 39 and not as textiles. This ruling clarifies the categorization of such products in accordance with tariff schedules.
The government has announced an extension of the tenures of NCLAT members until September 2026 or until they reach the age of 67. This decision is aimed at maintaining continuity and institutional knowledge within the appellate tribunal.
The RBI has issued the Sixth Amendment Directions on Prudential Norms on Capital Adequacy for Commercial Banks, enhancing operational standards. These updates reflect ongoing reforms in the banking sector.
The Reserve Bank of India has introduced the Sixth Amendment Directions for Commercial Banks, focusing on the presentation and disclosures of financial statements. This development is part of the ongoing regulatory enhancements initiated by the RBI.
The Reserve Bank of India has released the Third Amendment Directions for Local Area Banks regarding financial statements presentation and disclosures. The amendments are prompted by a review of previous guidelines and aim to enhance clarity and compliance.
The founders of Gameskraft have been remanded to 14 days of judicial custody following a money laundering investigation by the ED. This order highlights ongoing scrutiny within the online gaming industry.
The RBI has sanctioned the voluntary amalgamation of The Bhavani Sahakari Bank Ltd. with TJSB Sahakari Bank Ltd., effective May 4, 2026.
ROC Delhi penalized a company for filing MGT-14 several years after passing resolutions, underlining compliance with filing timelines.
ROC Delhi penalized a company and its directors for failing to appoint independent directors after crossing the ₹100 Crore turnover threshold.
ROC Cuttack penalized a company and its directors for failing to appoint a whole-time CFO after exceeding the statutory capital threshold.
ROC Kolkata penalized a company and its directors for the late transfer of unspent CSR amounts to the Swachh Bharat Kosh, reinforcing compliance with Section 135(7).