Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedThe NCLAT has ruled in favor of SBI, confirming that Videocon's foreign oil and gas assets are to remain outside the Corporate Insolvency Resolution Process (CIRP) of Videocon Industries Ltd. and its affiliates, relying on the commercial wisdom of the Committee of Creditors.
FeaturedThe NCLT has ordered the liquidation of a corporate debtor after the Committee of Creditors (CoC) rejected both the extension of the Corporate Insolvency Resolution Process (CIRP) and the proposed resolution plan. This decision emphasizes the need for timely action within insolvency proceedings.
FeaturedThe Supreme Court dismissed Byju Raveendran's appeal related to the NCLAT's decision and instructed an expedited inquiry against the Interim Resolution Professional (IRP). The Court emphasized the necessity for the ongoing investigation to proceed without delay.
FeaturedThe Reserve Bank of India has canceled the Certificate of Registration for 150 non-banking financial companies, emphasizing regulatory compliance and the importance of maintaining operational standards.
FEMA 1999 regulates foreign exchange in India, empowering RBI to frame rules on capital and current account transactions, with penalties up to thrice the sum involved.
Entities with foreign investments must file FLA returns, FC-GPR, FC-TRS, and LLP reports on the RBI’s FIRMS portal by prescribed deadlines, with Business User registration required.
Indian residents investing in UAE businesses must comply with ODI norms and LRS limits, including net worth caps, AD bank reporting, and UIN requirements.
RBI prohibits rebooking of cancelled INR forex derivative contracts, lowers unhedged position threshold to USD 5 million, and mandates enhanced disclosure by end-users.
The Reserve Bank of India has mandated exporters to file an Electronic Declaration Form (EDF) with designated banks for all export transactions starting October 1, 2026.
The Himachal Pradesh High Court held that admission of a signature on a blank cheque raises a legal presumption of liability under Section 139 of the Negotiable Instruments Act, 1881. The accused must rebut this presumption to avoid conviction.
RBI mandates specific risk management protocols for Authorised Dealer banks operating IFSC Banking Units in inter-bank foreign exchange transactions.
RBI has revised the Foreign Exchange Risk Reserve requirements to maintain orderly market conditions amid evolving external sector dynamics.