Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
IRDAI plans to replace the three-year licensing system for insurance surveyors and loss assessors with a perpetual registration model, contingent on annual fee payments. This draft amendment aims to simplify compliance regulations.
The Karnataka High Court has ruled that agricultural cooperatives may claim deductions under Section 80P, provided they prove lending credit facilities only to their members as an intermediary organization.
The Kerala High Court has dismissed a writ appeal concerning a penalty under Section 271D of the Income Tax Act, directing the taxpayer to pursue available statutory remedies instead. This reinforces the statutory framework for tax appeals.
The NCLT has recognized homebuyers as financial creditors and initiated CIRP against a real estate developer for defaulting on ₹6.76 crore. The amounts paid are classified as financial debts under the IBC.
The NCLT has begun insolvency proceedings against Primezone Developers due to their failure to refund amounts to allottees for unfulfilled plots. The tribunal ruled that this constitutes a financial debt default.
The NCLT has initiated Corporate Insolvency Resolution Process against Eros International Media for failing to pay NH-10 film revenue. The tribunal classified the default as an operational debt.
In a recent ruling, the Bombay High Court has emphasized that court-ordered disclosure takes precedence over confidentiality clauses in contracts, particularly in cases involving non-compete obligations.
The Bombay High Court has ruled the Maharashtra government liable for the death of a patient at Yerwada Mental Hospital, ordering ₹22 lakh compensation to the victim's family. This underscores the state's responsibility for patient safety.
The Bombay High Court has referred the issue of delay condonation in landlords' revisions under the Maharashtra Rent Control Act to a larger bench. This follows a writ petition by a retired army officer seeking tenant eviction.
The Bombay High Court has ruled in favor of returning a shop taken for election purposes in 1956 to the tenant's family. Justice Rajesh S. Patil ordered the landlords to vacate the property within eight weeks, emphasizing that there was no evidence of tenancy surrender.
The RBI has approved the voluntary amalgamation of The Bhavani Sahakari Bank Ltd. with TJSB Sahakari Bank Ltd., which is set to take effect on May 4, 2026. This amalgamation is significant in the banking sector in Maharashtra.
The RBI has published the 46th Half-Yearly Report on the management of India's foreign exchange reserves, ensuring transparency in financial governance. This report is released semi-annually to review reserves management strategies.