AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Gujarat High Court held that grievances regarding non-supply of relied upon documents (RUDs) under GST Rule 138B must be challenged before the Appellate Authority, not via writ petition.
RBI revises methodology for minimum capital requirements for counterparty credit risk in commercial banks, aligning with updated international best practices.
RBI relaxes mandatory legal opinion requirement for clearing member financial institutions across AIFIs, payments banks, and small finance banks through a series of amendment directions in 2026.
Scheduled banks may now maintain 90% of required CRR daily, with fortnightly average compliance. The change enhances liquidity management flexibility while preserving overall reserve discipline.
RBI permits cancellation and rebooking of foreign exchange derivative contracts by Authorised Dealers under revised guidelines. The move addresses client hedging needs amid volatile forex markets.
The Reserve Bank of India has updated norms for Authorised Dealers on foreign exchange risk reserve to ensure orderly market functioning. The changes include revised risk weightings and enhanced reporting requirements under the Master Direction on Risk Management and Inter-Bank Dealings.
RBI will conduct an open market sale of ₹25,000 crore government securities on October 13, 2026, via multi-security, multiple-price auction. The move aims to moderate liquidity and influence yield curve dynamics.
RBI will conduct a ₹2 lakh crore 3-day Variable Rate Reverse Repo (VRRR) auction on October 12, 2026, to absorb excess liquidity. The auction will reverse on October 15, 2026.
RBI has prohibited authorised dealers from allowing clients to rebook cancelled foreign exchange derivative contracts involving INR. The measure, effective immediately, aims to curb speculative activity and ensure orderly forex market conditions.
The Reserve Bank of India has established a special facility to meet the full daily foreign exchange requirements of three public sector oil marketing companies starting October 12, 2026. The move aims to ensure smooth forex access for critical energy imports.
The interplay between Section 47 cancellation proceedings and Section 124 of the Trade Marks Act, 1999 has led to conflicting rulings from the Delhi and Calcutta High Courts. The core issue: whether non-use cancellation triggers an automatic stay of infringement actions.
In TCRC v. Ganga Rudraiah, the Madras High Court examined copyright ownership under Section 17(b) of the Copyright Act, 1957, highlighting the risks of unwritten arrangements. Acquiescence and absence of consideration undermined the defendant's claim to BTS photographs from the film 'Aval Appadithan'.
The Delhi High Court in ZARA v. ZORA held that a formal declaration under Rule 124 is not mandatory to invoke the well-known status of a trademark under Section 11(2) of the Trade Marks Act, 1999. The ruling emphasizes evidence-based assessment over procedural formalities.