AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Competition Commission of India has initiated a probe into five-year restrictive clauses in beauty pageant contracts that allegedly hinder participant mobility. The matter will now be investigated by the Director General.
MCA has introduced amendments in CSR Policy Rules recognizing new channels for CSR implementation through Social Stock Exchange-listed NPOs.
New amendments by the MCA allow companies to use a portion of CSR funds through Zero Coupon Zero Principal instruments on the Social Stock Exchange.
The Madras High Court has ruled that show cause notices issued by officers not designated as 'proper officers' are void. This ruling quashes the DRI's show cause notice, mandating the return of bank guarantees to the petitioner.
The Madras High Court has quashed the equalisation levy demand on Zoho's reimbursements made to its US subsidiary, ruling it exempt under current tax provisions. This decision orders a reconsideration of a Rs. 57.1 crore refund claim.
The Madras High Court upheld a Rs.700 crore income tax demand, clarifying that assessment orders made during the Settlement Commission proceedings were valid. This ruling reinforces the jurisdiction of assessing officers in cases where interim court orders are involved.
The NCLAT has ruled that a misrepresentation of a borrower as a guarantor invalidates the application under Section 95 of the IBC. This decision mandates that future applications must be supported by valid guarantee documents to proceed.
The NCLT ruled that ongoing settlement discussions cannot impede the initiation of Corporate Insolvency Resolution Process (CIRP) if a default and operational debt are established. This sets a critical precedent confirming that discussions do not negate existing legal claims.
The NCLAT has ruled that GNIDA's claim as a secured operational creditor cannot exceed ₹6.79 crore, emphasizing the finality of resolution plans under the IBC. This decision highlights that public authorities must adhere to procedural norms and cannot contest settled plans post-judicial determination.
The Supreme Court has mandated colleges in Telangana using the 'Princeton' name to clarify that they have no association with Princeton University in New Jersey, amid a trademark dispute.
The RBI has issued new credit risk management amendments for Non-Banking Financial Companies, enhancing measures aimed at ensuring financial stability and risk mitigation in the financial sector.
The RBI issued new amendments focused on credit risk management for Rural Cooperative Banks, highlighting the importance of robust asset management amid economic pressures.
The RBI's latest directives focus on the resolution of stressed assets in All India Financial Institutions, enhancing frameworks necessary for managing distressed financial situations effectively.