Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Karnataka High Court directed the ED to provide justification for the arrests of Gameskraft founders. The Court is reviewing the legality of their May 8 detention.
The Madras High Court restored a writ petition concerning the EPF Board's decision in the Poppys Knitwear case, setting aside the single-judge dismissal and allowing for adjudication on merits. This decision opens the door for further legal challenge against the tribunal's reversal.
The Reserve Bank of India has imposed a monetary penalty of ₹1.50 lakh on Jilla Sahakari Kendriya Bank Maryadit for violating KYC norms under the Banking Regulation Act. This reinforces the regulatory emphasis on compliance.
On May 15, 2026, the Reserve Bank of India conducted an underwriting auction for government securities, setting cut-off rates for underwriting commissions payable to Primary Dealers. This auction included key financial specifics crucial for participating entities.
The Calcutta High Court has directed the RBI to reconsider an NBFC's surrender plea, emphasizing the need for a fair hearing before rejection based on meeting performance benchmarks.
The High Court upheld the DICGC's right to priority recovery of interim payments from insured banks, reinforcing legislative competence. This judgment has significant implications for depositors and the financial sector.
The IBBI has amended regulations to introduce nominee directors on the governing boards of insolvency professional agencies, aimed at improving accountability and oversight.
NCLT Mumbai has ruled that an arbitration clause in a memorandum of understanding does not prevent the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC when a financial default is proven.
The Bombay High Court emphasized the need for timely decisions in insolvency cases, directing NCLT to expedite JM Financial's ₹167 crore plea. The court's order underlines that delays undermine the purpose of the Insolvency and Bankruptcy Code (IBC).
The RBI has announced the issuance of the Foreign Exchange Management (Authorised Persons) Regulations, 2026, aimed at rationalising the framework for authorising persons under the Foreign Exchange Management Act.
The Reserve Bank of India issued the Fifth Amendment Directions concerning capital adequacy norms for commercial banks on May 8, 2026. This update is crucial for enhancing the financial stability of the banking sector.
The RBI has released the fourth amendment directions for Small Finance Banks regarding capital adequacy requirements, effective May 8, 2026. These amendments reflect the regulatory body's ongoing efforts to strengthen financial stability.