AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has issued its Third Amendment Directions for Non-Banking Financial Companies (NBFCs), focusing on responsible business conduct with regards to the hiring of recovery agents.
The Reserve Bank of India has promulgated the Third Amendment to the Directions concerning Housing Finance Companies, refining the guidelines on hiring recovery agents. The revised Fair Practices Code aims to improve consumer protection.
The Reserve Bank of India has released the Second Amendment to its Directions on Priority Sector Lending, indicating adjustments to targets and classifications. This amendment relates to the import and export of foreign currency and its implications on the financial sector.
The RBI is seeking public feedback on proposed amendments to its Capital Adequacy Directions, focusing on the Leverage Ratio Framework. This is part of ongoing efforts to align with global financial standards.
The RBI is inviting public comments on the draft Directions regarding Credit Valuation Adjustment (CVA) Framework, aiming to enhance risk management protocols in the derivatives market.
The RBI has imposed a penalty of ₹5.40 lakh on Infinity Fincorp Solutions for violating KYC norms as per its regulatory framework. The penalty reflects the regulatory authority's stringent compliance expectations.
The Central Consumer Protection Authority's (CCPA) action against PhysicsWallah and McAfee reveals critical insights into dark patterns and consumer rights. This analysis brings to light broader implications for digital marketing and compliance.
The Madras High Court's decision in Novartis AG v. Venkata Narayana Active Ingredients provides critical insights into the evidentiary requirements for invoking the Bolar exemption under Section 107A. The ruling aims for clarity while posing challenges for pharmaceutical manufacturers.
The Gujarat High Court has quashed GST detention orders, citing that actions under Section 129(3) were taken beyond the statutory limit, thus emphasizing adherence to legal timelines.
The Delhi High Court has held that ex parte GST demand orders, if issued without considering the taxpayer's response, must be set aside, reinforcing the principle of fair hearing.
The CBIC has announced a new coordination framework involving CGST and State Mining authorities to enhance GST enforcement in the mineral sector of Jammu and Kashmir.
The Karnataka High Court quashed a GST registration cancellation, asserting that defective verification reports could not justify the action under Rule 22(1).
The Kerala High Court held that a writ petition challenging an allegedly void assessment should be considered, even when an alternative remedy exists, emphasizing the significance of justice in taxation matters.