AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The RBI and ED have outlined the procedures for NOCs, adjudication, and compounding related to FEMA violations, highlighting compliance triggers for expected cases in 2025-26.
The Madras High Court's examination of Section 107A in the Novartis AG case provides greater clarity on the evidentiary standards for the Bolar exemption, raising concerns about the burdens on manufacturers that could undermine the exemption's intent.
The Supreme Court has upheld the claims of a financial creditor regarding a commercial unit allotment made to settle service dues, emphasizing the importance of directing attention towards creditors' rightful claims under the IBC framework.
The Telangana High Court has affirmed that reassessment under the Income Tax Act can continue even after Corporate Insolvency Resolution Process (CIRP) approval, clarifying the limits of liability extinguishment post-resolution.
The Supreme Court has quashed IPC defamation proceedings against bank officers over an error in a SARFAESI notice. The Court held that vicarious liability does not apply, thereby protecting legitimate actions taken in good faith under the SARFAESI Act.
The Supreme Court limits writ jurisdiction in arbitration cases, specifying that writs can only be entertained in instances of a clear lack of jurisdiction. This ruling develops the understanding of the interplay between Section 16 objections and extraordinary relief in arbitration contexts.
The CBDT has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026, aimed at ensuring compliance among small taxpayers regarding foreign assets. This initiative is expected to enhance transparency and tax compliance.
The Ministry of Corporate Affairs has issued the Companies (Ind AS) Amendment Rules, 2026, incorporating significant changes to various standards effective from April 1, 2026.
The SAFEMA Tribunal has upheld the benami attachment of ₹98 lakh relating to demonetized cash and RTGS transfers, reinforcing the framework against benami transactions.
The MSME Development Amendment Act 2026 introduces provisions for digital registration and streamlining of dispute timelines, enhancing operational efficiencies for micro, small, and medium enterprises.
The MSME Development Amendment Bill 2026 introduces key reforms for payment processes and dispute resolutions, including revised classifications and enabling the recovery of dues for MSMEs.
The NCLAT has permitted a financial claim on an uninvoked corporate guarantee during the Corporate Insolvency Resolution Process (CIRP), affirming that the Resolution Professional cannot unilaterally reject valid claims. This reinforces the security of corporate guarantees in insolvency proceedings.
Recent data indicates significant foreign exchange inflows via FCNR(B) deposits and ECBs under the RBI's Forex Swap facility. This facility was established to enhance forex liquidity.