AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
FeaturedNCLT ruled that pending winding-up proceedings do not preclude CIRP if liquidation has not reached irreversible stages, admitting a ₹1,526 crore insolvency petition.
FeaturedNCLT clarified that dissolution of a corporate debtor does not extinguish liability of promoters, directors, or guarantors, allowing recovery proceedings against them despite liquidation of the company.
FeaturedCalcutta High Court quashed a transfer pricing adjustment order under Section 92CA(3) of the Income Tax Act, holding that failure to grant a personal hearing and record reasoned findings violates principles of natural justice.
FeaturedMultiple prudential amendments issued on October 7, 2026, streamline legal opinion and valuation requirements for clearing members across AIFIs, payments banks, small finance banks, and commercial banks, aligning with international standards.
FeaturedRBI has issued a circular prohibiting Authorised Dealers from allowing clients to rebook cancelled foreign exchange derivative contracts involving INR. The move aims to prevent speculative positioning and ensure orderly forex markets.
FeaturedThe Kerala High Court interpreted Section 100 of the Patents Act, allowing government use of a patented cancer drug, Ribociclib, in public health emergencies. The ruling balances patent rights with access to medicine, citing compulsory licensing and public interest.
FeaturedThe Supreme Court convened a special Sunday hearing to address the detention of activists and lawyers protesting near Jantar Mantar. Several senior advocates deposed on the excessive police response, including allegations of unlawful detentions and violence against legal professionals.
FeaturedGujarat High Court quashes reopening of assessment based on misreading of audit findings, calling it mere change of opinion.
FeaturedCalcutta High Court quashed a transfer pricing adjustment under Section 92CA(3) due to denial of personal hearing and inadequate reasons.
FeaturedRBI introduces comprehensive CVA framework for commercial banks to manage counterparty credit risk in derivative contracts. The framework aligns with international standards and mandates risk-weighted capital charges.
FeaturedGST Council proposes scrapping arrest powers and raising prosecution threshold to ₹5 crore, with reduced imprisonment. The reforms reflect a de-criminalisation push in indirect tax enforcement.
FeaturedA contempt petition has been filed in the Supreme Court alleging violation of its October 9 order prohibiting complete shutdown of public transport ahead of CJP protests. The plea names Union Home Secretary, Delhi Police Commissioner, and Delhi Metro officials as respondents.
FeaturedGujarat High Court has ruled that reopening a completed scrutiny assessment solely based on a misreading of the audit report—without fresh tangible evidence—is invalid and amounts to change of opinion.