Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Kerala High Court has overturned the National Company Law Tribunal's imposition of Rs. 1 Lakh costs on Union Bank of India for procedural errors related to a withdrawal application. This decision emphasizes judicial discretion in evaluating procedural matters before tribunals.
The Central Consumer Protection Authority has fined Amazon for facilitating the sale of ordinary sweets labeled as Ram Mandir Prasad, highlighting consumer protection mandates.
The Karnataka High Court has determined that banks lack statutory authority to create liens on current accounts of cooperative societies for TDS on cash withdrawals. This ruling emphasizes the limitations on banks' powers regarding such financial operations.
The Bombay High Court reiterated that only the Securities and Exchange Board of India (SEBI) has the authority to prosecute front-running cases, citing Section 26 of the SEBI Act. This reinforces the regulatory framework governing financial misconduct in India.
The Reserve Bank of India has issued notifications regarding amendments to the UNSC's sanctions list under Section 51A of the UAPA, which affect commercial banks and financial institutions. The updates include important changes that practitioners must be aware of for compliance purposes.
The Securities and Exchange Board of India (SEBI) has proposed new settlement regulations aiming to simplify the settlement mechanism and lower the settlement amounts involved. Public comments on these proposals are invited until September 4, 2026.
The Securities and Exchange Board of India (SEBI) has modified the Operational Guidelines for the OBPP Framework to allow inclusion of IFSCA products and 54EC bonds. These changes are effective immediately and introduce new compliance requirements.
The Delhi High Court, in *Intra Cellular Therapies v. Controller of Patents*, discussed key issues in pharmaceutical patent law, particularly around Section 3(d) and the coverage disclosure distinction in genus-species claims. The court’s interpretation raises questions about novelty and inventive step.
The RBI and ED have outlined the procedures for NOCs, adjudication, and compounding related to FEMA violations, highlighting compliance triggers for expected cases in 2025-26.
The Madras High Court's examination of Section 107A in the Novartis AG case provides greater clarity on the evidentiary standards for the Bolar exemption, raising concerns about the burdens on manufacturers that could undermine the exemption's intent.
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 Telangana High Court has affirmed that reassessment under the Income Tax Act can continue even after Corporate Insolvency Resolution Process (CIRP) approval, clarifying the limits of liability extinguishment post-resolution.