AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
NCLT admits insolvency application citing ₹8.42 crore default; petition held within limitation due to acknowledgment of debt via last repayment.
NCLT admitted an insolvency application due to default of ₹3.43 crore, holding that the corporate debtor failed to disprove baseline eligibility of 540 homebuyers.
RBI mandates specific risk management protocols for Authorised Dealer banks operating IFSC Banking Units in inter-bank foreign exchange transactions.
RBI has revised the Foreign Exchange Risk Reserve requirements to maintain orderly market conditions amid evolving external sector dynamics.
RBI has imposed new safeguards on cancellation and rebooking of forex derivatives to curb speculative activity, requiring ADs to ensure genuine underlying exposure.
RBI has modified the daily minimum cash reserve maintenance requirement, allowing banks to maintain 90% of CRR on daily basis subject to fortnightly averaging, to enhance liquidity management.
Calcutta and Delhi High Courts differ on whether Section 47 cancellation proceedings justify staying trademark infringement suits under Section 124. The split highlights uncertainty over the scope of 'rectification proceedings' and their impact on parallel litigation.
Section 112(9) CGST provides deemed stay on recovery during GSTAT appeal if 25% pre-deposit is made, protecting taxpayers from coercive action.
Anticipatory bail denied in a Rs. 20 lakh GST fraud case involving forged invoices; court cites need for custodial interrogation.
Rajasthan High Court ruled that insolvency of a supplier under IBC does not excuse compliance with Section 16(2)(c) GST conditions for claiming ITC, even if tax remains unpaid.
The Madhya Pradesh High Court ruled that challenges to GST product classification must be addressed in appellate proceedings, not writ petitions, and such appeals are exempt from limitation periods.
Former CM Siddaramaiah files defamation suit in Bengaluru seeking takedown of videos linking him to a honey-trap. Court reserves order on interim injunction to restrain publication.
Madras High Court upheld the resignation of six AIADMK MLAs who joined TVK, ruling disqualification proceedings remain valid. Speaker given two months to decide disqualification pleas.