AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The SEBI appellate authority ruled that Action Taken Reports and file notings on third-party complaints are exempt from disclosure under the RTI Act to protect market integrity and fiduciary confidentiality.
The Kerala High Court held that issuing a Show Cause Notice (SCN) based solely on preliminary audit observations, which are not finalised findings, is legally unsustainable.
CESTAT quashes customs duty demand on scrap imports for lack of evidence showing undervaluation or manipulation.
Allahabad HC holds that re-export under Section 80 requires prior declaration; absence bars relief for gold imported from Nepal.
Madras HC rules seized gold jewellery, suspected to be smuggled, does not qualify for automatic provisional release under Section 110A.
Madras HC rules that import date, not purchase order, determines eligibility for project import duty benefits under Section 18A.
Madras HC quashed suspension of a customs broker, citing unexplained delay and requirement for immediate, reasoned action.
Madras HC restored a time-barred customs appeal due to counsel's indisputable illness and existence of a substantive dispute.
Allahabad High Court upheld gold confiscation, ruling GST invoices insufficient to rebut presumption under Section 123 without credible evidence.
CESTAT Allahabad set aside confiscation of nearly 4 kg gold, holding that Customs failed to prove smuggling or establish reasonable suspicion.
The RBI has issued the Twelfth Amendment to Capital Adequacy Directions for Commercial Banks, refining legal opinion requirements and valuation adjustments for incurred losses.
The RBI has issued the Sixth Amendment to Prudential Norms on Capital Adequacy for Small Finance Banks, aligning legal opinion requirements for clearing members with international standards.
The RBI has revised the daily Cash Reserve Ratio (CRR) maintenance norms, allowing banks to maintain 90% minimum daily CRR while ensuring fortnightly average compliance.