AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The article elucidates that for government companies, approval for demergers must be obtained from the Central Government, not the NCLT, following the 2017 MCA notification.
The NCLT has approved stakeholder meetings for Refex Composite after clarifications on warrant forfeiture and compliance with the Companies Act. This decision allows shareholders and creditors to participate in the proposed scheme.
The Tripura High Court acquitted a defendant in a cheque bounce case due to failure to serve a valid statutory notice to the accused, underlining the necessity for adherence to Section 138 NI Act.
In a recent ruling, the NCLT determined that an unapproved bank transfer does not constitute a preferential transaction under the IBC.
The NCLT ruled that dues from TReDS are operational debts rather than financial debts, rendering a Section 7 IBC insolvency petition unmaintainable.
The RBI has released the outcomes of its Variable Rate Repo auction conducted on July 1, 2026.
The RBI has extended its directions for Samarth Sahakari Bank Ltd. under the Banking Regulation Act.
The RBI has published its latest data on money market operations reflecting market conditions.
The Bombay High Court has restrained GST penalty actions against a company director while reviewing jurisdictional challenges related to the penalty.
The Punjab and Haryana High Court dismissed a GST writ petition due to unexplained delays, reinforcing the doctrine of laches and the importance of timely action in legal challenges.
Courts have emphasized the need for comprehensive evidence in GST enforcement actions, arguing that missing old vouchers cannot be deemed as fake ITC without supporting documentation.
Gross GST collections for June 2026 reached ₹1.94 lakh crore, marking a 13.9% increase driven by higher domestic and import revenues.
The Gujarat High Court upheld the authority to issue service tax notices post-GST but quashed those issued beyond the limitation period. The court clarified statutory remedy requirements.