AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
On August 14, 2026, the Reserve Bank of India reported the results of the 3-day Variable Rate Reverse Repo auction with a notified amount of ₹1,50,000 crore, receiving offers of ₹80,235 crore. The accepted amount mirrored the total offers at a cut-off and weighted average rate of 5.24%.
The NCLAT has held that one partner may represent a firm in insolvency proceedings based on a majority decision by the partners, clarifying representation authority under the IBC.
In a recent ruling, the ITAT has deleted an income tax addition of Rs. 23.33 crores, classifying the incorrect entry in the Income Tax Return (ITR) as a simple clerical error. This decision provides a significant precedent for taxpayers disputing high addition amounts based on minor errors.
ALMT Legal facilitated a ₹50 crore funding round for Kaapi Machines, along with a strategic partnership with Sedna HoReCa.
The Allahabad High Court dismissed a petition seeking maternity leave for a woman's fourth child, affirming the government's rejection of the request.
The Delhi High Court ruled that courts cannot determine whether sufficient material justified the issuance of Look Out Circulars (LOCs). This decision clarifies the limits of judicial review concerning LOCs.
The Reserve Bank of India has released Fourth Amendment Directions for Small Finance Banks, emphasizing responsible conduct in relation to recovery processes.
The Reserve Bank of India has introduced Fourth Amendment Directions for Local Area Banks, focusing on responsible business conduct and engagement of recovery agents.
The Reserve Bank of India has issued Fourth Amendment Directions for Regional Rural Banks to regulate responsible business conduct, focusing on practices related to recovery agents.
The Reserve Bank of India has issued Third Amendment Directions for Urban Co-operative Banks to enhance responsible business conduct and regulate recovery agents.
The Reserve Bank of India has released the Third Amendment Directions for Non-Banking Financial Companies regarding responsible business conduct, aiming at improved practices for engaging recovery agents.
The Reserve Bank of India has issued the Third Amendment Directions for Housing Finance Companies, focusing on the engagement of recovery agents. This amendment is part of the ongoing enforcement of the Fair Practices Code.
The Union Territory of Ladakh has formed five new districts: Sham, Nubra, Changthang, Zanskar, and Drass. The Reserve Bank of India is assigning lead bank responsibilities to facilitate banking infrastructure and support.