Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The RBI has outlined the procedure for voluntary surrender of the Certificate of Registration by Non-Banking Financial Companies (NBFCs), relevant under recent regulatory amendments.
The Madras High Court recently quashed corruption charges against three HR&CE Department staff accused of misappropriating temple funds. The decision reaffirms the judiciary's role in scrutinizing allegations before allowing proceedings.
The RBI's new Master Direction facilitates TReDS onboarding for MSMEs by removing mandatory due diligence, fostering improved financing efficiency.
RBI has released a draft framework to guide regulated entities in managing risks associated with model usage, emphasizing accountability and lifecycle management.
The RBI has proposed a draft Master Direction to consolidate regulations pertaining to the government securities market into a single framework, aiming to enhance compliance simplicity and regulatory clarity.
The Ministry of Corporate Affairs has launched the Corporate Mitra Scheme, aimed at training young graduates as paraprofessionals to assist MSMEs with compliance and financial services. Applications for the program will be processed through the Swayam Plus portal.
The NCLT ruled that a ₹200 crore future capital infusion must be treated separately from the creditor settlement under the resolution plan approved for Hind Agro.
NCLT approved Hind Agro’s ₹95 crore resolution plan, ruling that investments for future business revival cannot be included in the resolution plan value.
The NCLT ruled that a bank’s unilateral transfer of a corporate debtor’s funds cannot be reversed as a preferential transaction under Section 43 of the IBC in the absence of any preference by the debtor.
The NCLT has ruled that claims for avoidance relief under Section 43 of the IBC are invalid without evidence demonstrating that preferential treatment was granted by the corporate debtor.
The Madras High Court held that a pending appeal before the NCLAT does not hinder PNB’s Swiss challenge auction of stressed assets. Compliance with RBI directives was confirmed.
The NCLT ruled that prior classification of a loan as a Non-Performing Asset (NPA) does not negate previous defaults. This establishes clarity in the applicability of defaults even during suspension periods.