AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Karnataka High Court has responded critically to a claim over police quarters land in Bengaluru, questioning the validity of individual ownership against public property. The ruling emphasizes the importance of safeguarding public assets.
NCLT allows the conversion of shares into a guarantee company, bypassing regulatory objections due to shareholder consent.
This article explains how founder agreements delineate equity distribution, management roles, and dispute resolution mechanisms in venture-backed startups.
The revised DIN KYC rules now require compliance only once every third fiscal year. Directors are still responsible for reporting any changes to contact or address details within 30 days.
ICAI mandates that a new chartered accountant must not accept an audit assignment if fees are outstanding to any existing auditor, aiming at promoting healthy competition.
The Madras High Court has set aside a hypertechnical rejection of belated Income Tax Returns filed by a Cooperative Society, emphasizing the need for reasonable consideration.
The Delhi High Court dismissed a writ petition against the IBBI, asserting it could not assume jurisdiction due to the underlying CIRP being processed in NCLT Bengaluru.
The DGFT has widened the Quality Control Order (QCO) exemption for SEZ imports to all permissible goods, introducing a new compliance requirement for goods entering the domestic market.
The DGFT has tightened its silver import policy, mandating valid import authorization for nominated agencies and IIBX jewellers. This change enhances regulatory compliance in silver imports.
The NCLT admitted insolvency proceedings, concluding that ongoing settlement talks do not negate the need for Corporate Insolvency Resolution Process (CIRP) if an operational debt and default are established.
The Reserve Bank of India has amended the Responsible Business Conduct guidelines for Regional Rural Banks to enhance accountability and ethical standards.
The Reserve Bank of India has established new guidelines for the disbursement of government pensions by Agency Banks, emphasizing compliance and better management. These guidelines are aimed at improving the pension distribution process.
The Reserve Bank of India has released directions on the conduct of Government Business by Agency Banks, outlining the payment of agency commissions and oversight processes. These directions aim to streamline banking operations related to government financial transactions.