Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Insolvency and Bankruptcy Board of India (IBBI) First Appellate Authority (FAA) ruled that there is no obligation to recreate publicly accessible CIRP records under the RTI Act, rejecting a claim for information.
Equifax Credit Information Services Private Limited has been fined ₹1,19,400 by the RBI for non-compliance with regulations on credit information updates.
The Reserve Bank of India has imposed a monetary penalty of ₹6.20 lakh on Hinduja Leyland Finance Limited for non-compliance with directives on microfinance loan pricing and securitisation standards.
The NCLT has rejected Ernst & Young's plea for a 1% success fee related to GST demand reduction, ordering the ICAI to investigate the matter further.
The RBI has mandated a half-yearly return for all scheduled commercial banks for reporting relief measures associated with areas affected by natural calamities through the Centralised Information Management System (CIMS) portal. This is aimed at enhancing accountability and transparency in disaster management efforts.
The Gujarat High Court has upheld the admissibility of a single complaint for dishonour of four cheques issued in connection with a single transaction, clarifying legal standards for cheque dishonour actions under the NI Act.
The Delhi High Court has upheld the maintainability of a single complaint for more than three dishonoured cheques linked to one demand notice, clarifying procedural requirements for complaints under the Negotiable Instruments Act.
The Calcutta High Court has accepted the unconditional apology of an Enforcement Directorate (ED) officer for violating a stay order, leading to the closure of contempt proceedings. This decision reflects the court's willingness to resolve issues around procedural compliance without further action.
The Jan Vishwas Amendment to the Delivery of Books Act, 1956 modifies penalty provisions but may not achieve its intended goals. The changes are significant yet fall short in addressing key issues related to legal deposit and book delivery.
The SEBI has dismissed allegations of fraud against Axis Bank, citing a lack of substantial evidence for claims of disclosure violations and market manipulation.
BSE has issued FAQs to clarify the filing process for record dates, compliance issues, and timelines related to corporate actions, helping listed entities navigate their obligations.
SEBI has announced an extension for the implementation of revised trading norms for Exchange Traded Funds (ETFs) until September 7, 2026. This includes changes to pricing practices and auction processes.