AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
CRED has successfully raised $900 million from Meta in a Series H funding round, involving primary subscriptions and secondary share acquisitions. Key changes in management were announced alongside this transaction.
FeaturedThe Bombay High Court dismissed petitions from commodity traders challenging the MCX's decision to settle April 2020 crude oil futures at negative prices. The petitioners contended that SEBI should annul those trades, but the court upheld the decisions, emphasizing the integrity of market operations.
FeaturedSEBI has approved comprehensive reforms aimed at simplifying compliance processes for securities markets. These include revisions to buy-backs, mutual funds, AIFs, and investor protections.
FeaturedThe Karnataka High Court upheld that foreign nationals satisfying the definition of 'persons resident in India' under FEMA are not liable for penalties regarding FEMA violations.
FeaturedThe RBI has introduced an Expected Credit Loss (ECL) framework that mandates banks to make forward-looking provisions. This new approach is set to be implemented by April 2027.
FeaturedThe NCLT has initiated Corporate Insolvency Resolution Process (CIRP) against a corporate debtor, appointing an Interim Resolution Professional and enforcing a moratorium, highlighting the judiciary's stance on insolvency matters.
FeaturedIndia achieves a significant milestone as Vivek Aggarwal is appointed Vice-President of the Financial Action Task Force (FATF), marking India's increasing influence in global financial crime prevention.
FeaturedThe Calcutta High Court invalidated a retrospective property tax hike by KMC, stating it lacked statutory authority and violated procedural safeguards. The earlier valuation was restored.
FeaturedThe Karnataka High Court ruled that bona fide purchasers should not be penalized for a seller's failure to comply with GST regulations.
FeaturedSEBI raises concerns regarding alleged revenue misrepresentation, undisclosed fund transfers, and accounting irregularities in a significant business. The investigation casts doubt on the accuracy of disclosures and audits.
FeaturedThe Supreme Court ruled that appeals filed without a certified copy of the relevant NCLT order are improperly instituted and accordingly voided condonation of delays. This establishes the critical need for compliance with procedural requirements in appellate processes.
FeaturedThe Karnataka High Court has overturned a GST demand of Rs. 78.7 lakh against bona fide purchasers, emphasizing their immunity from penalties due to the seller's non-compliance. This reaffirms the legal protections available to innocent buyers in transactions.
FeaturedThe NCLAT has confirmed that a Resolution Professional (RP) is authorized to recover assets of a corporate debtor from unauthorized occupants without the need to file a civil suit, streamlining asset recovery under the Insolvency and Bankruptcy Code.