AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Calcutta High Court ruled that independent chartered accountants are liable under Section 628 of the Companies Act for certifying false statutory returns, establishing accountability.
The NCLT ruled that a fresh insolvency plea can proceed notwithstanding previous withdrawals and ongoing SARFAESI recovery processes. The ruling emphasizes the need for a statutory examination of liabilities by the Resolution Professional.
The IBBI has suspended the Authorised Financial Advisor of a liquidator for three months due to non-filing and non-cooperation during the liquidation of Oceanic Edibles. This measure underscores the necessity for diligence and transparency in insolvency proceedings.
The NCLT has pronounced that procedural delays in filing liquidation pleas do not impede the Committee of Creditors' (CoC) statutory decision to liquidate. This ruling underscores the importance of timely creditor actions.
The NCLT ruled that a minority shareholder cannot be compelled to obtain support from others to meet the 10% threshold required for filing an application under Section 244. This decision is pivotal for minority shareholders' rights in company affairs.
A U.S. District Court has dismissed securities and wire fraud charges against Gautam Adani and two other executives, concluding a high-profile case while noting the unusual nature of the decision.
SEBI has revised rules concerning municipal debt, focusing on face value, escrow mechanisms, and reporting timelines. These changes are effective from August 11, 2026.
SEBI has proposed to widen the participation of Foreign Portfolio Investors (FPIs) in commodity derivatives markets while ensuring strict safeguards for delivery obligations. This move is aimed at enhancing liquidity and market depth.
SEBI has amended the ILMDS Regulations concerning face value of municipal debt, escrow mechanisms, and reporting timelines, effective immediately. These changes streamline the regulatory framework governing municipal securities.
The Bombay High Court has quashed bifurcation and deemed conveyance orders due to violations of natural justice and non-compliance with the Maharashtra Cooperative Societies Act.
The Delhi High Court has requested the Institute of Company Secretaries of India (ICSI) to clarify its authority to define 26 areas of practice, including those pertaining to law, amid concerns over professional jurisdiction.
The NCLT has approved a resolution plan incorporating amalgamation and capital restructuring for SAB Events, subject to statutory compliance. This highlights the NCLT's flexibility in resolving financial challenges for MSMEs.
The NCLT held that objections raised by the Registrar of Companies (RoC) cannot halt the dissolution of a company after it has complied with voluntary liquidation provisions. This decision clarifies the authority of procedural compliance in corporate dissolution.