AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
Effective 1 October 2026, the RBI revised FEMA export regulations mandate a 9-month foreign exchange realisation period and 12 months for INR-denominated exports, with clarifications on Authorised Dealer Bank extensions and compliance obligations.
NCLAT Chennai rules merger schemes cannot be rejected at first motion on delay or appointed date issues. Objections to be considered at final approval.
Telangana HC rules ROC must process DIR-12 even with private disputes. No unilateral withholding without court injunction.
P&H HC rules ROC must verify DIR-12 documents before approval. Mandates active scrutiny of director removal filings.
Calcutta HC mandates ROC to decide DIR-12 complaints after hearing parties. Order underscores due process in directorship changes.
NCLT Ahmedabad held that revival letters and financial statements toll limitation for IBC petitions under Section 7. Debt acknowledgment resets time for insolvency initiation.
NCLAT Delhi remanded a VCare oppression petition, holding that commercial restructuring does not preclude findings of unfair prejudice. Status quo on shares and assets restored.
NCLT Mumbai upheld a resolution plan for Zicom Electronics with 75.46% CoC approval after reconsideration of valuation and feasibility. The tribunal found the revised plan compliant with IBC requirements and in the best interest of stakeholders.
The RBI issued the Sixth Amendment Directions, 2026, revising capital adequacy norms for Small Finance Banks, specifically the requirement for clearing members to obtain legal opinions.
The RBI issued the Third Amendment Directions, 2026, modifying prudential capital adequacy norms for Payments Banks, particularly concerning legal opinions for clearing members, to align with international practices.
The Reserve Bank of India issued the Fifth Amendment Directions, 2026, revising capital adequacy norms for All India Financial Institutions (AIFIs), specifically amending the requirement for clearing members to obtain legal opinions.
From November 2026, SEBI mandates display of investor awareness and risk disclosures on brokers' websites and trading apps.
SEBI has mandated the disclosure of a Credit Risk-o-Meter for debt securities in offer documents, advertisements, and online bond platform products (OBPP), effective 45 days from 8 October 2026.