AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has modified reporting requirements under FEMA, 1999, streamlining the obligations of authorized persons. This change aims to enhance regulatory compliance.
ICSI has urged the Ministry of Corporate Affairs to enforce compliance with Section 203 for Whole-time CS appointments, stressing the importance of corporate governance.
The Calcutta High Court affirmed the NCLT's authority to transfer winding-up proceedings suo motu, underlining judicial discretion when proceedings haven't reached irreversible stages.
The NCLT ruled that consent letters are insufficient to forgo the secured creditors' meeting. It mandated the meeting convening while allowing other stakeholder meetings to proceed based on affidavit consents.
Several states have announced an auction offering bonds aggregating ₹13,600 crore to raise funds. The auctions will cover multiple tenor periods, underscoring financial strategies among state governments.
Justice Badar Durrez Ahmed shares his personal connection to the Emergency declared by his father in 1975. He discusses the historical implications and memories associated with that pivotal moment in Indian history.
Changes to FEMA reporting requirements by the RBI aim to ease compliance for Authorised Persons, streamlining the process.
The RBI has rescinded outdated FEMA circulars as part of a regulatory review process, aiding compliance for stakeholders.
The RBI's Sixth Amendment has broadened the usage of SNRR accounts through IFSC branches, although it does not change the legal classification of various account transactions.
The ITAT has deleted a concealment penalty related to capital gains on a development agreement, finding the taxability issue debatable. This decision highlights the importance of judicial interpretation in tax assessments.
The ITAT ruled that the Revenue was unable to prove the taxpayer's ownership of the property, resulting in the deletion of capital gain additions. This decision highlights the burden of proof on the tax authorities.
The RBI has modified the reporting requirements for Authorized Persons under FEMA, 1999, streamlining the framework for money changing and transfer services. This amendment intends to enhance operational efficiency.
The Reserve Bank of India has invited comments on draft Master Directions for Call, Notice, and Term Money Markets by July 17, 2026, enhancing regulatory clarity in the money market.