AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
SBI's application under Section 7 for insolvency was admitted, asserting that pendency of winding-up proceedings cannot override corporate revival objectives under IBC.
The Supreme Court ruled that a Successful Resolution Applicant (SRA) cannot back out of a CoC-approved resolution plan merely by claiming that the Letter of Intent (LoI) is conditional.
Real estate promoters are now liable to pay GST under the reverse charge mechanism for TDR, FSI, and long-term leases received.
The NCLAT has ruled that contempt orders imposing civil imprisonment must explicitly name individual contemnors and adhere to due process. This decision underscores the necessity of procedural safeguards in contempt proceedings.
The NCLAT has ruled that transferred winding-up petitions cannot proceed under Section 9 of the IBC unless they meet the enhanced threshold limit of ₹1 crore in default. This reinforces compliance with prevailing IBC admission requirements.
A petition has been filed in the Supreme Court questioning the legality of Deepak Prakash's reappointment as a Bihar Minister despite his unelected status. The case raises important constitutional questions about ministerial appointments.
In a significant ruling, the Uttar Pradesh court has ordered an FIR against a Station House Officer for illegally detaining an individual and fabricating records. This development emphasizes the non-impunity of police misconduct in the state.
The Central Consumer Protection Authority (CCPA) has imposed fines on digital platforms employing manipulative design techniques, reinforcing that misleading digital practices violate consumer protection laws.
The IBBI has issued standardized formats for various insolvency procedures involving personal guarantors, enhancing transparency and consistency in bankruptcy processes.
The Allahabad High Court criticized the UP Police for acting beyond their mandate in private property disputes, asserting that criminal law must adhere to statutory definitions and cannot be misapplied.
The Karnataka High Court ruled that the Directorate of Enforcement's reliance on generic, copied justifications for provisional attachment under the Prevention of Money Laundering Act is inadequate. This decision reinforces the need for specific and substantial reasoning in enforcement actions.
The NCLT has admitted SBI's application under Section 7 of the IBC for insolvency against Martina Bio Genics, stating that ongoing winding-up proceedings cannot obstruct the IBC's objective of corporate revival.
The RBI has amended FEMA regulations to replace references to the NCLT with ‘Competent Authority’, simplifying the approval process for cross-border mergers. This change is expected to expedite transactions and enhance regulatory clarity.