Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Calcutta High Court ruled that a Cash Credit/Overdraft account cannot be classified as a Non-Performing Asset (NPA) unless it meets the criteria of being overdue for 90 days or is categorized as 'out of order'. This decision emphasizes the necessity of adherence to specific statutory provisions for NPA classification.
The Calcutta High Court ruled that a Cash Credit or Overdraft account cannot be classified as a Non-Performing Asset (NPA) unless it meets the criteria of being overdue for 90 days or is deemed 'out of order.' This ruling reinforces the strict adherence to banking regulations concerning NPA categorization.
The Supreme Court has upheld the claims of a financial creditor regarding a commercial unit allotment made to settle service dues, emphasizing the importance of directing attention towards creditors' rightful claims under the IBC framework.
The Supreme Court has quashed IPC defamation proceedings against bank officers over an error in a SARFAESI notice. The Court held that vicarious liability does not apply, thereby protecting legitimate actions taken in good faith under the SARFAESI Act.
The Kerala High Court has ruled that a Chief Judicial Magistrate (CJM) is empowered to restore possession of a secured asset to a creditor following an early delivery of possession under Section 14 of the SARFAESI Act.
The Reserve Bank of India has issued amendments to the Priority Sector Lending framework, adjusting the targets and classifications to align with current economic needs.
Recent data indicates significant foreign exchange inflows via FCNR(B) deposits and ECBs under the RBI's Forex Swap facility. This facility was established to enhance forex liquidity.
The RBI will conduct a 7-day Variable Rate Reverse Repo Auction on August 17, 2026, with a ceiling amount of ₹2,00,000 Crore. This step is part of the ongoing liquidity management strategy.
The Delhi High Court ruled that lawyers providing insolvency services must collect and remit GST, marking a significant decision on tax compliance in legal services.
The Bombay High Court directed SBI and ED to confirm if Vijay Mallya's debts were settled using assets attached by the ED. This follows claims from Mallya's counsel regarding debt clearance.
The Reserve Bank of India has published the third amendment directions for Housing Finance Companies, establishing updated guidelines on recovery agent engagement under Fair Practices Code.
The Reserve Bank of India has released the Priority Sector Lending – Targets and Classification Second Amendment Directions, 2026. The amendments aim to enhance guidelines and frameworks for lending institutions.