AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Delhi Court's order to attach movable assets of lawyer Mehmood Pracha has been challenged to the Supreme Court, which will decide based on precedents relating to legal costs and asset attachment.
The Reserve Bank of India (RBI) held a Variable Rate Reverse Repo (VRRR) auction on August 25, 2026, accepting ₹98,516 crore of offers out of ₹1,75,000 crore notified. The cut-off and weighted average rate were set at 5.24%.
The Delhi High Court appointed an amicus curiae to represent Vivek Oberoi after his counsel's withdrawal. This raises questions about the role of an amicus curiae and potential consequences for plaintiffs in civil suits.
The Madras High Court has upheld the rectification of inadvertent GSTR-1 errors for fiscal year 2017-18, dismissing the Revenue's appeal. This ruling highlights the need for flexibility in tax compliance due to software limitations.
India has amended its Foreign Direct Investment (FDI) regulations, introducing a 10% non-controlling beneficial ownership test that aims to clarify and streamline investment approvals for foreign investors. This change updates land-border rules and reduces uncertainty for global investors.
The Supreme Court has referred the matter concerning pre-deposit conditions in arbitration agreements to the Chief Justice of India. The bench highlighted the potentially suppressive nature of high pre-deposit requirements on claims.
The Gujarat High Court has granted interim relief against the cancellation of an IBBI IP registration. The court has raised concerns regarding the participation of an investigator in the disciplinary committee reviewing the registration.
The Delhi High Court held that lending a Customs Broker license and dongle for a fixed monthly fee violates regulation 1(4) of the Customs Broker Licensing Regulations. This decision clarifies the boundaries of permissible practices within customs brokerage.
In a recent ruling, the NCLAT upheld the resolution plan approved by the Committee of Creditors (CoC), denying the suspended promoter's request for a fresh valuation post-approval, underscoring the principle of commercial wisdom.
The NCLT has admitted the Corporate Insolvency Resolution Process (CIRP) for a financial default of ₹55.45 Crores. The Tribunal rejected the argument regarding pledge enforcement as a valid defence, underlining the significance of the debt threshold exceeding ₹1 crore.
The ITAT ruled that a ₹21.60 lakh loan received by a wife from her husband cannot be treated as unexplained, provided proper documentation is presented. The decision shifts the burden to Revenue to establish its case.
In a significant ruling, the ITAT has determined that interest earned on margin money used for opening letters of credit is taxable as business income under the Income Tax Act.
The ITAT held that documented purchases cannot be deemed bogus solely based on a supplier's GST compliance issues. The ruling underscores the importance of evidence linking a purchaser to fraudulent transactions.