AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
This article outlines the necessary approvals from Audit Committees, Boards, and shareholders for related party transactions, guiding companies in compliance with the Companies Act and SEBI regulations.
Recent NCLT decisions indicate that the lack of specific procedural rules does not prevent conversion from a company limited by shares to a company limited by guarantee as provided under Section 18.
Founder agreements are essential in venture-backed companies, clarifying equity allocation, management responsibilities, and exit strategies. This framework helps in mitigating disputes and stabilizing governance.
The ICAI has imposed fines on a Chartered Accountant for accepting an audit assignment without formal communication to the previous auditor, breaching the requirements of Section 140 of the Companies Act.
The Institute of Chartered Accountants of India (ICAI) has revised its ethics code regarding the advertising of sustainability assurance services. Providers must consult the Ethical Standards Board if uncertain about advertising appropriateness.
The ICAI imposed a fine on a Chartered Accountant for not properly communicating with the previous auditor before accepting a new audit assignment, violating Section 140 of the Companies Act.
The RBI has initiated its annual survey on Computer Software and IT Services Exports for the fiscal year 2025-26, aimed at enhancing data collection for external sector statistics.
The RBI has launched its annual survey on Foreign Liabilities and Assets of Mutual Funds, aiming to gather crucial data on external financial conditions for the fiscal year 2025-26.
SEBI has proposed relaxing call recording obligations for Research Analysts regarding institutional clients, aiming to reduce compliance burden.
Understanding how to identify material subsidiaries under SEBI's LODR regulations is crucial, particularly in cases of negative net worth.
SEBI revised its methodology for calculating household savings via the securities market, significantly altering the Gross Savings-to-GDP ratio for FY 2024-25.
The NCLT has admitted an insolvency petition under Section 7, confirming financial debt and default exceeding ₹7.47 crore. This ruling emphasizes adherence to the IBC framework in insolvency proceedings.
The Karnataka High Court has remanded the case concerning the retrospective amendment of Section 147A of the Income Tax Act back to a Single Judge, granting the assessee the opportunity to challenge the amendment's validity. This highlights ongoing scrutiny regarding retrospective tax laws.