AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The CBI has arrested an Income Tax Office Superintendent in Odisha for allegedly accepting a bribe to delete a duplicate PAN card. This case highlights ongoing efforts to combat corruption in public offices.
SEBI proposed reforms to the Pre-open Call Auction mechanism to address concerns of artificially suppressed prices in IPOs and re-listed stocks, including revised pricing rules.
The Supreme Court ruled that SEBI did not adequately prove market manipulation related to RPL's futures positions, although penalties for disclosure violations were upheld.
SEBI has found prima facie evidence of revenue misrepresentation by Rajesh Exports, highlighting a lack of verifiable subsidiary records supporting reported revenues. This raises significant concerns about the accuracy of financial disclosures.
Employers with ten or more employees must comply with POSH Act requirements, and violations can lead to significant penalties, including fines and potential business license cancellations.
The Kerala High Court has ruled that the Enforcement Directorate can initiate civil action without a predicate offence. This ruling supports ongoing investigations into Cochin Minerals and Rutile Limited under the PMLA.
Recent MCA changes broaden CSR scope by endorsing investment in Zero Coupon Zero Principal Instruments.
New amendments by the MCA allow companies to utilize CSR funds through Zero Coupon Zero Principal instruments listed on the Social Stock Exchange, offering a regulated avenue for CSR investments.
The Karnataka High Court quashed a provisional attachment order under the PMLA, stating statutory language must be applied judiciously rather than being reproduced mechanically.
The Calcutta High Court has clarified that the pendency of NCLAT appeals is sufficient to prevent the Regional Director from allowing Hindusthan Glass to shift its head office.
The NCLAT set aside insolvency proceedings noting that misrepresentation of a borrower as a guarantor invalidates applications under Section 95 unless valid documentation is presented.
The NCLAT ruled that the Greater Noida Industrial Development Authority's claim as a secured operational creditor cannot exceed ₹6.79 crore as per the escrow allocation, emphasizing judicial finality in resolution plans.
The NCLAT has stayed insolvency proceedings against Religare Enterprises, finding group transactions circular and fraudulent. This ruling warrants a reconsideration of the prior admission order.