Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The IBBI has introduced new rules requiring personal guarantors to disclose all assets during insolvency proceedings. This aims to prevent concealment and enhance coordination between guarantors and corporate debtors.
The National Company Law Appellate Tribunal (NCLAT) has ordered a fresh e-auction after a technical issue excluded a legitimate bidder from a liquidation auction, affirming the need for value maximization under the Insolvency and Bankruptcy Code (IBC).
The Securities and Exchange Board of India (SEBI) has mandated that all investors must provide nominations for their investments starting September 2026. This move aims to reduce disputes, accelerate asset transmission, and protect investor interests.
The RBI has imposed a monetary penalty on Canara Bank for non-compliance with KYC regulations and guidelines on unclaimed deposits. This underscores the importance of regulatory adherence in banking.
In 'Hindware v. Grohe', the Delhi High Court creates a distinction between the use of generic and source-identifying marks in keyword advertising. This ruling narrows the scope for intermediary protection under trademark law.
Chief Justice of India Surya Kant has expressed concerns that modern international arbitration is becoming as complex and costly as the litigation it was intended to simplify. His remarks highlight the need for reform in arbitration processes.
The Tamil Nadu government plans to withdraw its review application regarding a DVAC case against DMK leader KN Nehru. The Madras High Court has restrained further proceedings in the case until June 23.
The Supreme Court ruled that appeals filed under the IBC without obtaining certified copies of the impugned order are invalid.
The Karnataka High Court remanded cases related to the retrospective insertion of Section 147A of the Income Tax Act, granting assessees the opportunity to challenge its constitutional validity.
The NCLAT has ruled that a ₹74.49 lakh transaction was fraudulent under insolvency law but rejected a Section 66 application due to procedural bars against non-management parties. This highlights the tribunal's rigorous stance on fraudulent transactions during insolvency.
The Orissa High Court quashed an FIR alleging misuse of GST credits in a GAIL pipeline project, determining the matter was civil, not criminal. The court emphasized that proceeding with a criminal investigation would be an abuse of process due to ongoing NCLT liquidation.
The ITAT has established that an amount exceeding ₹50 lakhs must be present for reopening an assessment after three years, invalidating prior approvals under Section 151.