Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) due to the failure of an OTS proposal, emphasizing the necessity of compliance and timely payments.
The Delhi High Court has ruled that private unaided recognized schools can raise fees without prior government approval if declared before the academic session. This ruling impacts school management practices across the region.
The Companies Act, 2013 mandates that most public and private companies issue and transfer securities only in dematerialised form, enhancing transparency. This implementation aims to minimize fraud and simplify ownership records.
The Insolvency and Bankruptcy Board of India (IBBI) has amended the PPIRP rules to ensure enhanced oversight on registered valuers and provide clearer frameworks for fair and liquidation values.
The Supreme Court upheld the Delhi High Court's ruling that unutilized MODVAT credit constitutes actual payment under Section 43B. This decision solidifies the interpretation of credit utilization in tax liabilities for businesses.
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.