AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
With the publication of the Second Amendment Directions, the RBI reinforces guidelines regarding income recognition and asset classification for Urban Cooperative Banks.
The Reserve Bank of India has issued a Second Amendment Directions for Regional Rural Banks concerning income recognition, asset classification, and provisioning, reinforcing regulatory compliance.
The Calcutta High Court has increased the Motor Accident Claims Tribunal (MACT) compensation to ₹12.5 lakh, rejecting the insurer's outdated income claim. This ruling underscores the importance of updated and accurate evidence in MACT cases.
The RBI has declared Coöperatieve Rabobank U.A. has ceased to be a banking company under the Banking Regulation Act, impacting its operational capacity in India. This shift requires legal scrutiny and compliance adjustments.
Coöperatieve Rabobank U.A. has been excluded from the Second Schedule of the Reserve Bank of India Act, 1934, marking significant changes in its regulatory status. This change necessitates attention from legal practitioners in the banking sector.
A monetary penalty of ₹7 lakh has been levied on Sangli District Central Co-operative Bank Ltd. by the RBI for violations of the Banking Regulation Act. This highlights ongoing regulatory enforcement to ensure compliance within the banking sector.
The RBI has imposed a monetary penalty of ₹10.10 lakh on Raigad District Central Co-operative Bank Ltd. for contravening provisions of the Banking Regulation Act. This penalty reflects strict regulatory oversight in the banking sector, emphasizing compliance with RBI directives.
The Himachal Pradesh High Court's decision in SML Limited v. M/S Happy Agro Chemicals clarifies issues of jurisdiction in patent infringement cases, emphasizing the importance of substantial connections to the forum.
Recent comments submitted to the CDSCO highlight ongoing issues with brand name extension practices in India. The discourse around these policies has seen limited public engagement, which raises significant concerns.
The Madras High Court has dismissed a writ petition, ruling that ITC benefits under Section 16(6) cannot be claimed if they are time-barred under Section 16(4) on the cancellation date.
The Telangana High Court has permitted a taxpayer to file a delayed appeal against GST assessments, allowing for a statutory pre-deposit and condonation of delay under Section 74 due to the illness of the taxpayer's Chartered Accountant.
The RBI has announced the due date for FLA returns as July 31, 2026, and outlined procedures for the FLAIR platform. There is a late fee of ₹7,500 for late submissions.
The RBI has extended its directives under the Banking Regulation Act to The Irinjalakuda Town Co-operative Bank Ltd., maintaining oversight until January 30, 2026. This extension is part of regulatory efforts to ensure stability amid ongoing issues.