Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Kanari Nutrition Private Limited, operating as Supply6, successfully raised capital from a Series A fundraise totaling ₹XXX million. Legal advisors Lex Consult and JSA Advocates facilitated the transaction, representing Supply6 and lead investor Unilever Ventures, respectively.
The Reserve Bank of India has introduced Master Direction on Credit Derivatives to regulate this emerging market segment effectively. The directions will impact all participants in the credit derivatives market.
SEBI has introduced the GARUDA mechanism to expedite AIF scheme launches, aiming to enhance efficiency while maintaining regulatory oversight.
The RBI has fined Bank of Baroda ₹63.60 lakh for non-compliance with KYC and Fair Practices Code regulations.
The Reserve Bank of India has levied a monetary penalty of ₹3.10 lakh on GIC Housing Finance for KYC non-compliance under the 1987 Act.
The Kerala High Court permitted a company to repay EPF damages in 18 instalments, emphasizing structured compliance over coercive recovery.
The NCLT held that removal of a charge does not equate to extinguishing the underlying debt unless it is proven that the debt was repaid.
The NCLT Chandigarh ruled that mere allegations of collusion and related party transactions do not suffice to substantiate claims of fraudulent initiation of corporate insolvency resolution process (CIRP).
The NCLT in Mumbai admitted an insolvency plea against HK Toll Road, establishing that evidence of debt and default is sufficient even with ongoing arbitration proceedings.
The NCLT has admitted an insolvency petition filed by Prudent ARC against Super Property Maintenance, clarifying that prior winding-up proceedings do not bar the initiation of CIRP under the IBC.
NCLT found that an email trail demonstrated a pre-existing dispute, leading to the rejection of Netambit's insolvency plea of ₹4.37 crores against Flipkart. This emphasizes the importance of pre-existing disputes in insolvency proceedings.
SEBI proposes a uniform 75% consent requirement for AIF investors to enhance compliance and protect minority investors.