AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Insolvency and Bankruptcy Board of India (IBBI) has suspended the registration of an Insolvency Professional for two years due to unauthorized plan extensions and failure to document decision-making.
The CESTAT has settled the classification of UPS systems as 'static converters', enabling the revenue authorities to withdraw pending appeals.
The Rajasthan High Court ruled that electronic generation does not equate to legal authentication, implying unsigned GST notices cannot be used for adjudication or recovery.
The Chhattisgarh High Court granted regular bail to an accused in a GST case, citing no criminal history and the likelihood of prolonged trial. Bail conditions include a personal bond of Rs. 1 lakh.
The Reserve Bank of India has issued the Second Amendment Directions for Priority Sector Lending, introducing targets and classification updates. These changes aim to streamline and enhance the efficiency of lending practices within the priority sector.
The Reserve Bank of India has released draft guidance for regulated entities on data governance, inviting comments until August 17, 2026. Key areas of focus include governance frameworks, data quality management, and associated risks.
The Karnataka High Court has declined to cancel the bail of a woman accused in a ₹7.17 crores money laundering case, invoking Section 45(1) PMLA exemption for women.
The NCLT has ruled that corporate guarantors cannot avoid Corporate Insolvency Resolution Process (CIRP) even if there are ongoing proceedings against the principal borrower. This decision confirms the co-extensive liability of corporate guarantors under the Insolvency and Bankruptcy Code (IBC).
SEBI has issued a circular regulating the use of real-time market data for educational purposes. It emphasizes that such data cannot be used commercially without appropriate licensing.