Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The NCLAT confirmed that post-liquidation settlements must follow a Section 230 scheme of the Companies Act, ruling that Section 12A cannot apply after liquidation proceedings have initiated. This reinforces the integrity of the liquidation process.
The Reserve Bank of India has amended guidelines on credit risk management for Non-Banking Financial Companies (NBFCs), addressing the evolving financial landscape.
The Reserve Bank of India has amended credit risk management guidelines targeting Rural Cooperative Banks, enhancing their operational framework amidst new financial realities.
The Reserve Bank of India has issued amendment directions focusing on the resolution of stressed assets for all India financial institutions, refining their operational strategies.
The Reserve Bank of India has announced amendments to credit risk management guidelines for Regional Rural Banks, aimed at enhancing resilience in the sector amidst financial challenges.
The Reserve Bank of India has amended the directions on income recognition and asset classification for all India financial institutions, reflecting enhanced regulatory oversight.
The Reserve Bank of India has announced directions concerning the disbursement of government pensions by Agency Banks (ABs). These provisions are aimed at streamlining the payment process for pensioners and enhancing operational norms for banks.
The Reserve Bank of India has released new directions regarding the conduct of government business by agency banks, outlining the payment of agency commissions and oversight mechanisms. These guidelines aim to enhance the operational efficiency and regulatory compliance of agency banks in India.
The Reserve Bank of India has confirmed its withdrawal of ₹2000 banknotes, with deposit and exchange facilities available until October 7, 2023. This move is part of the RBI's ongoing efforts to streamline currency circulation.
The Delhi High Court ruled in favor of Anil Kumar Tiwari, highlighting the complexities of personality rights jurisprudence in India. This ruling raises critical questions about the interplay between social commentary, intellectual property rights, and public discourse.
The Gujarat High Court quashed a Section 148 notice because it lacked a credible link to the assessee's financial activities. This ruling reinforces the principles of evidence requirement in tax reassessments.
The Gujarat High Court quashed reassessment notices after determining they were based on an unverified complaint found on a third party's phone. This decision stresses the importance of proper evidence in tax reassessment procedures.