Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
NCLT admits insolvency application citing ₹8.42 crore default; petition held within limitation due to acknowledgment of debt via last repayment.
NCLT admitted an insolvency application due to default of ₹3.43 crore, holding that the corporate debtor failed to disprove baseline eligibility of 540 homebuyers.
Madras HC upheld FCRA rejection of a trust that concealed its religious character by labelling Zen activities as non-religious.
Complete guide to ODI under FEMA 2022: 400% net worth limit, RBI approval thresholds, loan/guarantee norms, APR and FLA reporting.
Effective 1 October 2026, RBI mandates 9-month deadline for export proceeds realisation, extendable by AD banks; INR exports allowed 12 months.
RBI mandates a 20% foreign exchange risk reserve on INR derivative contracts exceeding USD 2 million, requiring daily cash deposits and real-time reporting to curb speculative pressures.
RBI bars rebooking of cancelled INR forex derivative contracts, reduces unhedged position threshold to USD 5 million, and mandates enhanced hedging disclosures, effective immediately.
Reserve Bank of India requires all goods and services exporters to file an Electronic Declaration Form (EDF) with designated banks from October 1, 2026 to streamline forex reporting and compliance.
Institute of Chartered Accountants of India removed a CA's name for one year for failing to report material financial irregularities and going concern risks in audit of a company involved in ₹1,150 crore fund diversion.
The Himachal Pradesh High Court held that admission of a signature on a blank cheque raises a statutory presumption of liability under Section 139 of the Negotiable Instruments Act, 1881. Conviction follows unless the accused rebuts the presumption.
The ITAT upheld a ₹2.05 crore penalty on a Zee Group entity for claiming depreciation on non-existent assets, rejecting the argument that disclosures during a survey were involuntary.
The ITAT deleted a ₹6.98 crore disallowance on revaluation loss of unexpired foreign exchange forward contracts, holding that contractual obligations existed at year-end and the bank’s accounting method was consistent.