Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The NCLT Principal Bench has permitted the dissolution of a corporate debtor after the assignment of avoidance proceedings and remaining assets during the liquidation process. This ruling highlights the conditions under which dissolution can be deemed valid.
The RBI has sanctioned the voluntary amalgamation of The Bhavani Sahakari Bank Ltd., Mumbai, with TJSB Sahakari Bank Ltd., effective May 4, 2026.
SEBI has provided important clarifications regarding the status of Special Purpose Vehicles (SPVs) under InvITs, allowing them to retain SPV status even post-concessiontermination, along with prescribing timelines for project exit or restructuring.
SEBI has issued clarifications regarding PAN rules for Foreign Portfolio Investors (FPIs) following compliance challenges posed by new Income-tax application forms. The relaxations are designed to simplify documentation and facilitate the onboarding process for FPIs.
The Insolvency and Bankruptcy Board of India (IBBI) introduced new governance norms for insolvency professional agencies, mandating that managing directors receive prior approval from the IBBI. The reforms also tighten eligibility criteria for directors.
The RBI has imposed a ₹3.10 lakh penalty on IIFL Finance Limited due to non-compliance with regulatory directives under NBFC regulations.
The RBI imposed a ₹5.80 lakh penalty on Appnit Technologies for KYC non-compliance, reinforcing regulatory adherence in financial practices.
Zee Entertainment has filed a lawsuit against Nykaa, seeking damages of INR 2 crores for the alleged unauthorized use of copyrighted songs in Instagram reels. This case highlights the ongoing struggles related to copyright enforcement in the digital marketing space.
The Supreme Court upheld previous rulings on the classification of quicklime, affirming that it falls under CTH 2522 based on purity standards.
The Madras High Court has permitted Nidhi companies to submit fresh replies against NDH-4 rejection orders, mandating that authorities reconsider these applications after granting a hearing. The court left open the challenge to the validity of the amended provisions.
The Karnataka High Court directed the ED to provide justification for the arrests of Gameskraft founders. The Court is reviewing the legality of their May 8 detention.
The Madras High Court restored a writ petition concerning the EPF Board's decision in the Poppys Knitwear case, setting aside the single-judge dismissal and allowing for adjudication on merits. This decision opens the door for further legal challenge against the tribunal's reversal.