Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Reserve Bank of India has provided an update on the withdrawal of ₹2000 notes, effective until October 7, 2023. All bank branches will facilitate the deposit and exchange of these notes during this period.
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a ₹1 crore fine on Nissan Renault for non-compliance with MISP guidelines regarding distribution fee disclosures. The regulatory body found agreements lacking transparency, undermining contractual clarity.
The Kerala High Court ruled that a partner cannot claim a deduction under Section 36(1)(iii) for loans invested as capital in a firm if they do not have independent business operations. The ruling clarifies the application of borrowing costs in partnership scenarios.
The Institute of Chartered Accountants of India (ICAI) has announced the empanelment of observers for the September and November 2026 CA examinations. This initiative aims to ensure examination integrity and procedural oversight across examination centres.
The Reserve Bank of India's weekly statistical bulletin provides data on liabilities and assets for the periods ending April 25 and April 17, 2026. The data reflects shifts in the financial landscape.
The Delhi High Court’s ex parte injunction in Ivy Entertainment v. Rahul Singh restricts the use of a specific lyric, complicating the discourse on copyright in song lyrics.
This review covers key aspects of Indian copyright law including the Delhi HC’s ruling in Bansal v. Philips, a significant decision regarding standard essential patents.
CESTAT has set aside penalties imposed on a customs broker, clarifying that incorrect classification does not equate to misdeclaration under the Customs Act.
The Delhi CESTAT upheld a ruling that an importer who accepted an enhanced valuation of goods could not contest the assessment later. The decision underscores the legal weight of acceptance in customs evaluations.
The Delhi High Court quashed PRC orders for failing to properly examine an exporter's claim regarding a glitch in the transmission of data to ICEGATE. The Court emphasized that material facts and repeated representations were neglected by the authorities.
SEBI has clarified that clients under Non-Discretionary Portfolio Management Services (PMS) may pledge securities for personal borrowing without violating regulations, highlighting client autonomy.
The Kerala High Court has dismissed a writ petition seeking the release of seized areca nuts, reaffirming the validity of the Section 130 notice. The court indicates that challenges must be raised before the statutory authority.