AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
In response to evolving market conditions, the RBI has updated its Third Amendment Directions for Housing Finance Companies, focusing on recovery agent engagement practices.
The NCLT Ahmedabad has initiated the Corporate Insolvency Resolution Process against Varidhi Cotspin for failing to discharge a debt of ₹43.39 crore. This decision emphasizes the need for strict adherence to financial obligations under corporate law.
The Delhi High Court has quashed summons issued to the directors of a tea company under the SWM Act, ruling that no proceedings could be sustained against them without the company being impleaded as an accused.
The Reserve Bank of India has successfully conducted a 7-day Variable Rate Reverse Repo (VRRR) auction, receiving offers amounting to ₹98,945 crore out of the ₹2,00,000 crore notified. The cut-off and weighted average rate stood at 5.24%.
The ITAT Delhi has granted Section 10(10B) exemption for compensation under BSNL's 2019 Voluntary Retirement Scheme, classifying the compensation as retrenchment compensation. This ruling aids employees seeking tax relief on such payments.
The CBDT issued Circular No. 9/2025, granting relief from higher TDS/TCS liability for inoperative PANs under Section 206AA/206CC. This aims to alleviate financial burdens on taxpayers affected by PAN issues.
The Kerala High Court has mandated that Micro, Small, and Medium Enterprises (MSMEs) must proactively seek rehabilitation when facing incipient financial stress.
The Delhi High Court has declined to entertain a writ petition challenging the Enforcement Directorate's attachment of ₹18.10 crore under the PMLA, citing the availability of statutory remedies.
The NCLT has appointed a new liquidator following the previous liquidator's death, ensuring continuity in liquidation proceedings through a unanimous resolution by lenders. This highlights the importance of maintaining oversight in liquidation processes.
The NCLT has admitted a ₹2.47 crore insolvency plea, ruling that WhatsApp chats are inadequate to prove a pre-existing dispute without corroborating evidence. The decision underscores the importance of substantive documentary support in insolvency matters.
The Union Territory of Ladakh has officially established five new districts, along with the assignment of lead bank responsibilities for these areas. The new districts are Sham, Nubra, Changthang, Zanskar, and Drass, and the announcement was made via a Gazette Notification.
The RBI imposed a ₹3.10 lakh penalty on Muthoot MCred Limited due to violations of asset classification norms effective August 14, 2026.
IndusInd Bank has been penalized ₹59.20 lakh by the RBI due to infractions concerning interest rates and asset securitization effective August 14, 2026.