AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The IBBI has disciplined an insolvency professional with a penalty for continuing assignments without a valid Authorisation for Assignment (AFA), underscoring the critical nature of compliance in insolvency practice.
The introduction of new labor codes presents significant changes in wage definitions and statutory liabilities, necessitating a review of compliance frameworks for Chartered Accountants.
The Calcutta High Court granted an injunction based on TDS records recognizing a loan relationship between the parties, thereby emphasizing the importance of tax documentation in establishing legal relationships.
The Delhi High Court denied a writ petition as the Corporate Insolvency Resolution Process (CIRP) was centered outside its jurisdiction. This ruling reinforces territorial limits in bankruptcy-related proceedings.
The NCLT has admitted a corporate insolvency resolution process (CIRP) against a Corporate Debtor, finding adequate evidence of operational debt, default, and acknowledgment of liability.
The NCLAT ruled that once a resolution plan is approved and has attained finality, challenges to it cannot be reopened. GNIDA's appeal was dismissed for attempting to re-agitate settled issues.
The RBI has mandated that banks submit FEMA returns through the Centralized Information Management System (CIMS), effective June 30, 2026. This move aims to streamline reporting processes for financial institutions.
The NCLAT ruled that banks cannot be held in wilful contempt for delays in the release of rolled-over non-fund based credit facilities under an approved resolution plan, citing bona fide interpretation disputes.
The Reserve Bank of India has published its Weekly Statistical Supplement, detailing liabilities and assets for April 2026. This will provide important financial insights for practitioners.
The RBI has established annual reporting requirements for mutual fund Asset Management Companies (AMCs) regarding their foreign liabilities and assets for Balance of Payments statistics.
The article discusses legal risks and consequences for individuals engaged in money mule activities in India, highlighting potential prosecutions under various laws.
The RBI has amended FEMA regulations to replace NCLT references with 'Competent Authority,' broadening the scope of authorities recognized under the law for approving cross-border mergers.
The RBI has modified FEMA regulations, reducing the timeframe for exporters to realize and repatriate export proceeds from 15 months to 9 months, enforcing stricter compliance requirements.