AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has issued second amendment directions for Regional Rural Banks aimed at improving income recognition, asset classification, and provisioning norms to enhance financial health.
The RBI has introduced amendments to directives on income recognition and asset classification for Local Area Banks, enhancing financial stability and compliance requirements in the banking sector.
The Reserve Bank of India has released a circular outlining the operations and guidelines for Special Rupee Vostro Accounts (SRVAs), aimed at enhancing international trade settlements in Indian Rupees (INR). This move signals a strategic step towards furthering India's global trade footprint.
SEBI's recent circular operationalizes the ISIN-level freeze of promoter holdings during buy-back processes, mandating depositories to implement this framework by 1 August 2026.
SEBI has initiated a comprehensive review of Portfolio Managers Regulations. The proposed amendments include compliance measures, new investment avenues, and the integration of Mutual Fund Portfolio Management Services (MF-PMS), with feedback due by 13 August 2026.
SEBI seeks stakeholders' comments on a draft circular that proposes a streamlined Online Dispute Resolution (ODR) framework for the securities market. This includes revisions to the SCORES process and roles of Market Infrastructure Institutions (MII).
The Bombay High Court has set aside previous wilful defaulter orders, remanding the case for fresh proceedings due to violations of natural justice principles. Relevant material must now be disclosed, and reasoned orders issued.
The NCLT has ruled that the resolution professional can recover and preserve the assets of a corporate debtor during the corporate insolvency resolution process (CIRP), despite any existing arbitration agreements. This ruling clarifies asset recovery during insolvency proceedings.
The removal of the film Satluj from the ZEE5 app raises critical questions regarding the government's authority under Section 69A and its implications on censorship and copyright law.
The Himachal Pradesh High Court in SML Ltd. v. M/s Happy Agro Chemicals ruled against creating territorial jurisdiction through isolated trap purchases in patent infringement cases, affirming the need for genuine connections to the jurisdiction.
The Delhi High Court is set to hear public interest litigations regarding police actions against protestors at Jantar Mantar. The petitions allege significant police atrocities and call for urgent judicial review.
The recently enforced India-Sri Lanka Tax Protocol aims to provide double taxation relief along with anti-abuse measures effective from FY 2027.
The Calcutta High Court quashed the wilful defaulter notice issued to SREI, citing non-compliance with RBI master circulars regarding the issuance of such notices.