AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI's latest amendment on Income Recognition, Asset Classification, and Provisioning establishes stricter norms for All India Financial Institutions to enhance financial stability and risk management.
The RBI has amended guidelines on Responsible Business Conduct for All India Financial Institutions to strengthen compliance and ethical standards in financial services.
The RBI has introduced the second amendment to its Credit Risk Management Directions for All India Financial Institutions, enhancing regulatory compliance and frameworks for managing credit risk.
The RBI has officialized the final redemption price for the Sovereign Gold Bond (SGB) 2018-19 Series-I, due on May 4, 2026, based on recent gold prices.
The ITAT Patna ruled that purchases cannot be wholly disallowed if they correlate directly with verified sales, emphasizing the importance of stock and sales documentation in tax assessments.
The ITAT ruled that there was insufficient evidence to classify a cash shortage as a deemed dividend since it was linked to a proprietary concern. This highlights the necessity for clear financial documentation.
The Calcutta High Court dismissed the Income Tax Department’s appeal due to compliance with the low tax effect threshold, reinforcing the requirement for exceptional circumstances to justify such appeals.
SEBI has proposed reforms to the pre-open call auction mechanism, aiming to prevent the artificial suppression of prices in IPOs and re-listed stocks. This includes revised base price rules and stricter conditions.
SEBI has proposed a framework aimed at managing strike prices of options contracts to mitigate market volatility. This initiative seeks to ensure continuous availability of options contracts close to the prevailing market prices.
The Institute of Chartered Accountants of India (ICAI) is set to launch a Forensic Audit Lab in Hyderabad. This initiative aims to support small Chartered Accountant firms by providing access to forensic audit resources.
CMS INDUSLAW has successfully advised Scapia Technology Private Limited in a $63 million Series C funding round led by General Catalyst. This marks a significant milestone for the tech startup.
The Supreme Court's judgment on stray dogs has sparked confusion regarding the management of stray populations. Key clarifications reveal that authorities cannot indiscriminately remove or harm these animals.
The Delhi High Court has refused to review its previous ruling that music composer Ilaiyaraaja does not hold copyright over the song 'En Iniya Pon Nilave'. The court found no errors in its earlier order, upholding the decision against Ilaiyaraaja.