AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The NCLT ordered liquidation of a corporate debtor as no viable resolution plan emerged, following an 80.86% vote by the Committee of Creditors (CoC). This ruling underscores the challenges in achieving resolutions under the Insolvency and Bankruptcy Code.
The ITAT has restricted a Rs. 1.80 crore cash addition claimed by a hospital during demonetisation to a maximum of Rs. 5 lakh. This decision highlights the need for robust evidence in defence of cash deposits during cash restrictions of that period.
The Allahabad High Court ruled that GST penalties under Section 129(1)(a) apply when tax invoices accompany goods without an E-way bill, not under Section 129(1)(b).
The CESTAT has quashed a ₹16.67 crore tax demand on royalties paid for pre-installed software, confirming it falls outside the ambit of IPR service tax prior to May 2008.
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) upheld a 200% customs duty and penalties for brass scrap misdeclared as originating from UAE instead of Pakistan.
The National Company Law Appellate Tribunal (NCLAT) has reiterated that Section 98 can only be invoked after proving that convening an Extraordinary General Meeting (EGM) is impracticable.
The National Company Law Tribunal (NCLT) has approved Subhash Chandra's repayment plan while ruling that it can bind dissenting creditors. The plan notably excludes claims from 1,260 individuals.
The Karnataka High Court affirmed that married daughters are entitled to equal coparcenary rights in joint family property, reinforcing women's rights in inheritance.
The Karnataka High Court declared a police arrest illegal and imposed punitive costs for wrongful detention under Section 35(3) of BNSS, demonstrating strict oversight over police powers.
The IRDAI health insurance sub-committee recommends reforms aimed at simplifying policies and expediting claims processing. The adoption of the National Health Claims Exchange (NHCX) is also emphasized.
The Government of India has announced a buyback of its dated securities through auction for an aggregate amount of ₹30,000 Crore. The move is aimed at managing government debt effectively.
The Reserve Bank of India has issued directives under Section 35 A of the Banking Regulation Act, 1949, to Ashok Sahakari Bank Ltd., restricting certain activities to ensure financial stability.
The Reserve Bank of India will conduct a 15-day Variable Rate Reverse Repo (VRRR) auction on August 31, 2026, with a notified amount of ₹6,00,000 Crore. This measure is part of its liquidity management strategy.