AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Calcutta High Court has upheld the discharge of a Chartered Accountant in a company law case, citing lack of mens rea and the limitation of the prosecution. This ruling reinforces the need for clear mens rea in corporate liability cases.
NCLAT Delhi has annulled share transfers that did not comply with Article 15 of the Articles of Association. This ruling reinforces the sanctity of corporate governance norms regarding share transfers.
The NCLT Mumbai has granted a waiver under Section 244, allowing a minority shareholder with 4.65% stake to pursue oppression claims without needing support from other shareholders. This landmark ruling emphasizes minority rights in corporate governance.
The Reserve Bank of India has updated the UNSC sanctions list for ISIL and Al-Qaida under Section 51A of UAPA, affecting four entries. This change requires immediate compliance by financial institutions to avoid regulatory penalties.
The Delhi High Court addressed key issues in pharmaceutical patent law regarding coverage disclosure and therapeutic efficacy requirements under Section 3(d) in Intra Cellular Therapies v. Controller of Patents. The ruling highlights complexities in how patent claims are assessed in India.
The Kerala High Court has overturned the National Company Law Tribunal's imposition of Rs. 1 Lakh costs on Union Bank of India for procedural errors related to a withdrawal application. This decision emphasizes judicial discretion in evaluating procedural matters before tribunals.
The Central Consumer Protection Authority has fined Amazon for facilitating the sale of ordinary sweets labeled as Ram Mandir Prasad, highlighting consumer protection mandates.
The Karnataka High Court has determined that banks lack statutory authority to create liens on current accounts of cooperative societies for TDS on cash withdrawals. This ruling emphasizes the limitations on banks' powers regarding such financial operations.
The Bombay High Court reiterated that only the Securities and Exchange Board of India (SEBI) has the authority to prosecute front-running cases, citing Section 26 of the SEBI Act. This reinforces the regulatory framework governing financial misconduct in India.
The Reserve Bank of India has issued notifications regarding amendments to the UNSC's sanctions list under Section 51A of the UAPA, which affect commercial banks and financial institutions. The updates include important changes that practitioners must be aware of for compliance purposes.
The Securities and Exchange Board of India (SEBI) has proposed new settlement regulations aiming to simplify the settlement mechanism and lower the settlement amounts involved. Public comments on these proposals are invited until September 4, 2026.
The Securities and Exchange Board of India (SEBI) has modified the Operational Guidelines for the OBPP Framework to allow inclusion of IFSCA products and 54EC bonds. These changes are effective immediately and introduce new compliance requirements.
The Delhi High Court, in *Intra Cellular Therapies v. Controller of Patents*, discussed key issues in pharmaceutical patent law, particularly around Section 3(d) and the coverage disclosure distinction in genus-species claims. The court’s interpretation raises questions about novelty and inventive step.