AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has issued the Third Amendment Directions for Rural Cooperative Banks focusing on income recognition and asset provisioning. This amendment is anticipated to improve financial practices among cooperative banks.
The RBI has issued the Second Amendment Directions for Regional Rural Banks focusing on income recognition and asset classification. This regulatory measure aims to strengthen the handling of stressed assets in the rural banking sector.
The Reserve Bank of India has issued the Second Amendment Directions for Local Area Banks concerning income recognition, asset classification, and provisioning standards. This amendment seeks to enhance the robustness of financial practices in local banks.
The Reserve Bank of India has issued draft amendments to the Securitisation Transactions Regulations, aiming to enhance efficiency, liquidity, and transparency in the securitisation process.
The Reserve Bank of India has cancelled the banking license of Paytm Payments Bank Limited, effective April 24, 2026, due to non-compliance with regulatory requirements as per the Banking Regulation Act, 1949.
In Sulzer Mixpac AG v. Assistant Controller of Patents and Designs, the Delhi High Court framed a significant discussion on intra-court patent appeals, despite the failure of the associated patent. The ruling serves to clarify the legal landscape surrounding patent appeals.
The Reserve Bank of India (RBI) has outlined new reclassification criteria for Non-Banking Financial Companies (NBFCs) effective July 2026. It introduces Type I and Type II categories and details conditions for deregistration and the definition of public funds.
The Supreme Court has dismissed a plea questioning six answers in the NEET-UG 2026 re-exam. The court ruled that the examination's integrity remained intact post-adjustment of the merit list.
The Madras High Court upheld penalties on CENVAT credit claims related to CVD paid through DEPB scrips for the assessment year 2003-04. The court ruled that insufficient adherence to the Central Excise Rules justified the penalties and interest.
The Delhi High Court has ruled that merely claiming a blank cheque was issued as security does not suffice to rebut the statutory presumptions established under Section 138 of the Negotiable Instruments Act. This decision reinforces the importance of providing cogent evidence for such defenses.
The Bombay High Court ruled that the Income Tax Department is barred from reviving any income tax demands post-approval of a resolution plan by the NCLT. This decision reinforces the finality of the resolution process under the Insolvency and Bankruptcy Code.
The Andhra Pradesh High Court ruled that the secured creditor's charge under the SARFAESI Act takes precedence over the GST Department's claims. The attachment of mortgaged property by the GST Department has been set aside, allowing secured creditors to recover their dues first.
The Madras High Court has ruled that a Show Cause Notice (SCN) imposing a 200% penalty must clearly specify the grounds of misreporting to allow for adequate taxpayer defense.