Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Karnataka High Court has clarified that disqualification under Section 164 does not vacate an office in a defaulting company while directing reactivation of the DIN post-disqualification.
The NCLAT has ruled that advances for the supply of goods constitute operational debt under the consortium agreement, setting aside the prior rejection of a Section 9 application and restoring it for admission.
The DRAT has affirmed that a bank can pursue recovery against mortgaged property despite a matrimonial dispute raised by the borrower, reinforcing creditor rights.
The Debt Recovery Appellate Tribunal upheld Kotak Mahindra’s right to proceed against a debtor's mortgaged property despite an ongoing insolvency claim, restoring civil arrest for willful default.
The Kerala High Court dismissed a plea challenging recovery proceedings of ₹26 crores, noting the borrower's failure to disclose MSME status and deposit a specified amount for a revival plan.
The Karnataka High Court clarified the implications of disqualification under Section 164, stating that it does not vacate an office in defaulting companies, and ordered the reactivation of DIN post-disqualification.
The NCLT has admitted a Section 7 plea against SWAL Limited, determining that an interest-bearing inter-corporate loan constitutes financial debt under the IBC and commencing the Corporate Insolvency Resolution Process.
The NCLAT has ruled that APDCL must pay ₹37.66 lakh with interest to the liquidator of Brahmaputra Rolling Mills, highlighting the distinct legal status of companies under the IBC. The tribunal rejected the set-off plea based on mutual dealings.
The RBI has issued Master Directions for Credit Derivatives, introducing new regulations that could reshape risk management practices in Indian financial markets.
The RBI implemented the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026, amending specific reporting requirements. These amendments are significant for foreign exchange transaction compliance.
The NCLAT Delhi approved the submission of an additional affidavit in revived IBC proceedings, underscoring that adherence to procedural rules must not undermine the principle of natural justice.
Adani Enterprises has successfully raised ₹15,000 crore through a Qualified Institutional Placement (QIP), advised by Cyril Amarchand Mangaldas, marking a significant capital influx for the company.