Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The CDSCO has initiated a review of the use of brand name extensions by pharmaceutical companies in response to industry concerns, indicating potential regulatory changes in the sector.
The Bombay High Court's decision in Black Diamond Motors Pvt. Ltd. v. Registrar of Trade Marks prioritizes substantive justice over rigid adherence to procedural timelines under the Trade Marks Rules, 2017. This marks a potential shift in trademark prosecution.
The Himachal Pradesh High Court ruled in SML Ltd. v. M/s Happy Agro Chemicals that isolated trap purchases do not create territorial jurisdiction for patent infringement suits. The decision underscores the limits of forum shopping in patent cases.
The NCLT clarified that findings from a forensic audit do not negate a corporate debtor's ownership rights over fixed deposits during CIRP proceedings.
The NCLT held that the Maharashtra Industrial Development Corporation's (MIDC) action to cancel the long-term allotment of an industrial plot during the liquidation of Jet Airways violates legal prohibitions against depleting the debtor's estate.
According to the NCLAT, interest liability acknowledged by the corporate debtor on inter-corporate deposits (ICDs) must be considered part of the financial debt when assessing statutory default thresholds under the IBC.
The NCLT ruled that banks are prohibited from withholding funds of corporate debtors during the Corporate Insolvency Resolution Process (CIRP) based solely on unresolved diversion claims. The directive mandates banks to transfer the fixed deposits to the CIRP account.
The Reserve Bank of India has introduced the Second Amendment Directions for Local Area Banks focusing on the resolution of stressed assets, improving compliance and operational integrity.
The Reserve Bank of India has introduced the Second Amendment Directions for Commercial Banks regarding Income Recognition, Asset Classification, and Provisioning, targeting enhanced financial practices.
The Reserve Bank of India has introduced the Third Amendment Directions for Non-Banking Financial Companies, focusing on Income Recognition, Asset Classification, and Provisioning to enhance financial management.
The Reserve Bank of India has issued the Second Amendment Directions concerning Income Recognition, Asset Classification, and Provisioning for All India Financial Institutions, aiming to strengthen financial practices.
The Reserve Bank of India has introduced the Second Amendment Directions for Regional Rural Banks focusing on Income Recognition, Asset Classification, and Provisioning. This highlights a significant regulatory update aimed at improving financial stability.