AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
SEBI’s board approved comprehensive reforms across portfolio management, settlements, REITs, InvITs, FPIs, AIFs, and accredited investors, aiming to boost market depth and compliance efficiency.
The Securities Appellate Tribunal (SAT) has consistently held that SEBI cannot impose penalties on a corporate debtor for pre-acquisition defaults after an NCLT-approved resolution plan under the IBC. Sections 31 and 32A of the Insolvency and Bankruptcy Code protect the corporate entity post-resolution, barring regulatory penalties for past conduct.
NCLT admits insolvency petition for ₹1.05 crore operational debt; no genuine dispute raised prior to default.
NCLAT holds personal insolvency applications cannot be misused as shield against SARFAESI possession proceedings.
NCLAT rules arbitral award imposing joint liability doesn’t alter personal guarantee; guarantor remains distinct from borrower.
SEBI has disposed of adjudication proceedings against five Adani Group companies for disclosure and corporate governance lapses, accepting settlements totalling over ₹1.5 crore without admission of guilt.
ITAT holds cash deposits during demonetisation cannot be added under Section 68 if sourced from disclosed and taxed cash sales with supporting records.
ITAT holds Toyota Tsusho lacked permanent establishment in India as supervisory activities fell short of six-month threshold under India-Japan DTAA Article 5(4).
The ITAT ruled that profits from offshore supply are not taxable in India when title, payment, and supply operations occur outside India under Sections 5(2) and 9(1)(i) of the Income Tax Act.
The ITAT held that cost-to-cost salary reimbursement for seconded employees without markup does not constitute fees for technical services (FTS) and is not taxable in India.
SEBI settles disclosure and governance proceedings against five Adani Group firms for over ₹1.5 crore without admission of liability.
ITAT holds that cash deposits during demonetisation cannot be added as unexplained income under section 68 if supported by sales records and already taxed.
ITAT holds that Toyota Tsusho did not create a permanent establishment in India as supervisory activities did not exceed 183 days, per Article 5(4) of the India-Japan DTAA.