AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Uttarakhand High Court has instructed Income Tax authorities to process applications for valuer registration made under the repealed Wealth Tax Act within three months.
Utsav Securities Limited has been penalized ₹3.90 lakh by the RBI for governance and compliance issues related to credit information submissions. This reflects heightened regulatory vigilance in the sector.
Namdev Finvest Limited has been fined ₹2.70 lakh by the RBI for non-compliance with KYC guidelines. This penalty highlights ongoing regulatory scrutiny in the finance sector.
On August 10, 2026, the RBI will conduct a Variable Rate Reverse Repo auction with a notified amount of ₹200,000 Crore for a tenor of 7 days. This step aims to manage the evolving liquidity conditions in the economy.
The Orissa High Court directed that GST registration revocation should be considered following the settlement of dues, granting potential relief to taxpayers.
The Gauhati High Court has ruled that the time spent on GST rectification petitions must be excluded while calculating the limitation period for appeals under Section 107.
The Allahabad High Court has set aside an arbitral award regarding GST reimbursement, citing improper application of guidelines and insufficient contractual basis.
The Reserve Bank of India (RBI) has issued draft directions aimed at revising exposure limits and establishing new norms for housing loans and credit rules effective from April 1, 2027.
The Reserve Bank of India (RBI) has issued draft amendments to its NBFC Credit Facilities that propose restrictions on revolving credit products, allowing such products only for authorized credit card issuers. Public comments are invited.
The Reserve Bank of India (RBI) has officially excluded advances against specified FCNR(B) and NRE deposits from the Adjusted Net Bank Credit (ANBC) calculations for priority sector lending targets. This change is effective immediately.
The Karnataka High Court quashed a cruelty case filed by a woman against her mother-in-law, stating that vague allegations did not meet the threshold for such charges. The ruling reaffirms legal standards for domestic cruelty accusations.
The Madras High Court clarified that while advocates can peacefully protest against arrests, they cannot obstruct the police from presenting accused individuals in court. This ruling reinforces the balance between rights and legal processes.
Khaitan & Co has provided legal advice to Hindustan Composites Ltd regarding a ₹370 crore slump sale of its friction business to Rane (Madras) Limited. The transaction involved extensive due diligence and consultation.