AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI has announced the Third Amendment Directions for urban co-operative banks, facilitating a temporary removal of the interest rate ceiling on new deposits. This update is expected to bolster deposit acquisition in the banking sector.
The Reserve Bank of India has issued the Second Amendment Directions for interest rates applicable to rural co-operative banks, temporarily withdrawing the interest rate ceiling on new deposits. This change aims to enhance liquidity and attract more deposits into the sector.
The Bombay High Court has distinguished between establishing disobedience of injunctions and deciding on the consequences for such disobedience, providing clarity on the application of Order XXXIX Rule 2A.
The RBI has amended directions for several bank categories, shortening the temporary deposit interest rate relaxation period for FCNR(B) and NRE deposits to August 31, 2026. This change affects multiple banking landscapes.
The CGPDTM has introduced new guidelines aimed at regulating the use of AI in the patent examination process. This article discusses the objectives of the guidelines and their implications.
The recent discussions on AI in patent examination raise critical questions of accountability. This article explores the implications of using AI and the guidelines established by the CGPDTM.
Indian transfer pricing law clarifies the distinction between compensable corporate guarantee services and shareholder support. This differentiation is based on economic benefit, risk, and pricing.
The Central Consumer Protection Authority has fined United Biscuits ₹1 lakh for misleading advertising claims regarding its Marie Biscuits. The product was found to contain less whole wheat than advertised.
The Securities Appellate Tribunal has set aside SEBI's rejection of an open offer withdrawal and ordered a speaking order on the substantive issues.
In the Subhash Chandra insolvency matter, the NCLT ruled that a repayment plan can bind dissenting creditors, excluding claims filed for 1,260 individuals. This clarification may impact how creditors' rights are managed in insolvency proceedings.
The Bombay High Court has upheld the transfer of winding-up proceedings to the NCLT, determining that asset sales by secured creditors do not render the revival of the company impossible. This ruling emphasizes that the potential for revival remains intact despite such sales.
The NCLT ordered liquidation of a corporate debtor as no viable resolution plan emerged, following an 80.86% vote by the Committee of Creditors (CoC). This ruling underscores the challenges in achieving resolutions under the Insolvency and Bankruptcy Code.
The National Company Law Appellate Tribunal (NCLAT) has reiterated that Section 98 can only be invoked after proving that convening an Extraordinary General Meeting (EGM) is impracticable.