AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Kerala High Court held that issuing a Show Cause Notice (SCN) based solely on preliminary audit observations, which are not finalised findings, is legally unsustainable.
SEBI proposes EODB-aligned changes to REIT and InvIT rules, including 75% voting thresholds, sponsor exit rights, and public float norms.
SEBI proposes to ease Regulation 62A for first-time NCD issuers, removing mandatory retrospective listing while retaining requirement for future issuances.
SEBI proposes a new accreditation framework allowing portfolio managers to certify sophisticated investors based on securities exposure. The move introduces ₹5 crore exposure threshold and three-year validity.
SEBI has proposed amendments to the Settlement Proceedings Regulations, 2018, introducing a revised penalty formula, extended filing timelines, and streamlined procedures. The move aims to enhance transparency and efficiency in enforcement settlements.
Maharashtra’s 2025 amendment limiting lifetime trustees in public trusts has implications for corporate governance structures where trusts hold controlling stakes, notably Tata Sons. Legal debate centres on whether the move is reform or legislative overreach.
RBI now requires all goods and services exporters to file an Electronic Declaration Form (EDF) with their designated banks as a precondition for realization of export proceeds.
ICAI removed a CA's name from the register for one year for audit failures related to non-reporting of material financial irregularities and going concern risks in a case involving ₹1,150 crore siphoning.
NCLT approved voluntary liquidation after full debt settlement but held directors liable for future dues beyond the ₹14.99 lakh fund, preserving post-liquidation accountability.
NCLT admitted a ₹32.35 crore CIRP application despite procedural defects in Form-1, ruling that such errors are curable if the existence of debt and default are established by records.
Himachal Pradesh High Court upheld acquittal under Section 138 of the NI Act, ruling that complainant failed to prove financial capacity to advance the alleged loan, undermining the claim of legally recoverable debt.
Himachal Pradesh High Court held that admission of signature on a blank signed cheque invokes statutory presumption under Section 139 of the Negotiable Instruments Act, shifting burden to the accused to rebut it.
NCLT admitted a ₹32.35 crore CIRP petition despite procedural defects in Form-1, holding that such defects are curable once debt and default are established. The tribunal rejected reliance on Section 10A of IBC, affirming its directory nature.