AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The CDSCO invites comments on brand name extensions used by pharmaceutical companies, following concerns about consumer confusion. This scrutiny may alter marketing practices within the pharmaceutical industry, prompting legal practitioners to advise clients accordingly.
The Himachal Pradesh High Court ruled in SML Ltd. v. M/s Happy Agro Chemicals that isolated transactions cannot create territorial jurisdiction for patent infringement lawsuits. This decision is crucial for practitioners navigating jurisdictional challenges in intellectual property cases.
The Kerala High Court upheld Union Bank's rights under the SARFAESI Act, ruling that an attachment following an equitable mortgage was ineffective and ordered the removal of the said attachment.
The Supreme Court affirmed that income tax penalty notices must clearly specify the exact charge under Section 271(1)(c). This ruling underscores the necessity for precision in tax penalty communications.
The National Company Law Tribunal ruled that the resolution professional can recover and preserve corporate debtor’s electric vehicle assets during the Corporate Insolvency Resolution Process, leaving pending dues claims for separate adjudication.
The Gauhati High Court ruled that challenges regarding the non-issuance of Form GST ASMT-10 and issues related to the supply of audit materials can be effectively addressed by the statutory appellate authority.
The RBI has published second amendment directions for Local Area Banks focusing on the resolution of stressed assets, which will assist banks in effective asset management.
The Reserve Bank of India has introduced second amendment directions for commercial banks to enhance their income recognition and asset classification norms.
The RBI has issued second amendment directives for Small Finance Banks to enhance income recognition, asset classification, and provisioning standards.
The RBI has announced updates to the income recognition and asset classification directives for Non-Banking Financial Companies to enhance regulatory compliance and financial integrity.
The RBI has introduced second amendment directions for All India Financial Institutions aimed at improving standards of income recognition, asset classification, and provisioning.
The Reserve Bank of India has announced second amendment directions for urban cooperative banks concerning income recognition and asset classification, aimed at improving financial stability.
The RBI has issued amendments regarding income recognition and provisioning for Rural Cooperative Banks, marking another step towards enhancing the banking sector's regulatory framework and stability.