AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The NCLAT has rejected an appeal regarding the Insolvency and Bankruptcy Code as the filing was made beyond the 45-day limit, emphasizing lack of jurisdiction to condone such delays.
The NCLAT dismissed an appeal challenging interlocutory directions regarding asset disclosure compliance, affirming that the directions merely enforced prior undisputed orders.
The RBI has set the redemption price for the Sovereign Gold Bond (SGB) 2020-21 Series VI, allowing premature redemption with the next due date on September 08, 2026. Pricing will be based on the simple average of closing prices of gold from September 02-08.
SEBI suggests less scrutiny on AIF Trustees while raising concerns over its own enforcement record. This proposal calls attention to the balance between compliance and oversight.
SEBI's recent analysis of the PhysicsWallah IPO reveals insights on the confidential DRHP filing and significant market reactions. The study highlights QIB demand and the notable 33% listing gain.
SEBI issues guidelines on the regulatory framework and procedures for Non-Convertible Debentures (NCDs) issuance by listed entities. The guidelines include details regarding issuance conditions and compliance.
The Himachal Pradesh High Court has accepted a 31-day delay in an appeal citing sufficient cause and diligent pursuit, emphasizing the flexibility of judicial procedures.
The ITAT Lucknow has removed the Section 68 addition concerning trade creditors, reiterating that genuine purchases and accounting books cannot be disregarded without sufficient evidence.
The Mumbai ITAT has remanded an appeal concerning ₹99.38 lakh, instructing the CIT(A) to first assess the applicability of Section 249(4)(b) before considering the merits of the Section 69 addition.
The Insolvency and Bankruptcy Board of India (IBBI) First Appellate Authority (FAA) ruled that there is no obligation to recreate publicly accessible CIRP records under the RTI Act, rejecting a claim for information.
RBI has released a second amendment to the directions regarding the classification, valuation, and operation of urban co-operative banks' investment portfolios. The amendment clarifies guidelines on the investment in non-SLR securities.
The Reserve Bank of India has issued a circular requiring Authorised Dealer Category-I banks to update and provide a comprehensive list of their branches maintaining Rupee accounts for non-resident banks. This initiative aims to streamline the management of foreign currency accounts and enhance transparency.
Equifax Credit Information Services Private Limited has been fined ₹1,19,400 by the RBI for non-compliance with regulations on credit information updates.