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[Supreme Court] Banks Must Follow the MSME Revival Framework Before Classifying Accounts as NPAs
SC mandates MSME restructuring before NPA status, reinforcing legal protections for small businesses.
Aug 7, 20243 min read
Beyond the Basics: A Comprehensive Guide to Bail Cancellation - Jurisdiction, Grounds, and Proof
Explore the jurisprudence of bail cancellation, including judicial criteria and proof burdens.
Aug 6, 202412 min read
RBI’s 2024 Directions on Wilful & Large Defaulters: A Comprehensive Framework for Transparent Classification, Treatment & Reporting
RBI's 2024 rules enhance financial system integrity by tightening wilful defaulter identification and treatment.
Aug 5, 20246 min read
[ITAT] Tax Exemption on Mutuality Grounds Not Applicable to Advocates Welfare Fund
ITAT holds: Advocates Welfare Fund fails to meet mutuality criteria, disqualifying it from tax exemptions under the Income Tax Act, 1961.
Aug 3, 20243 min read
SEBI’s Consultation Paper Proposes Rationalisation of ‘Connected Person’ Definition in Insider Trading Regulations
SEBI refines 'connected person' definition to clarify insider trading rules and boost market integrity.
Aug 3, 20243 min read
SAFEMA Clarifies the Extent of Its Powers: Only the Special Court Holds Authority to Release Property
SAFEMA Tribunal confirms only the Special Court can release property under s. 8 of the PMLA.
Aug 3, 20242 min read
Vivad se Vishwas Scheme, 2024: Key Highlights
Resolve tax disputes with the 2024 Scheme, ensuring efficient settlement and full immunity from penalties.
Aug 1, 20245 min read
Corporate Guarantor v. Principal Debtor: Supreme Court Clarifies Distinct Liabilities under IBC
Supreme Court rules guarantor and debtor liabilities as distinct under IBC, allowing creditors dual recovery paths.
Aug 1, 20244 min read
GST Penalty Case Overturned: Calcutta High Court’s Directive Based on New Information
Calcutta High Court remands GST penalty after new IOCL evidence, questioning the use of Goa's advance ruling in West Bengal.
Aug 1, 20243 min read
Bank Guarantees Are Not CD’s Assets: NCLT Kolkata Bench Clarifies That Bank Guarantees Can Be Invoked During Moratorium Period
NCLT Kolkata confirms the independence of bank guarantees from insolvency moratoriums, ensuring enforceability during CIRP.
Aug 1, 20243 min read
Navigating Notional Losses: Punjab & Haryana High Court Clarifies Rules on Carry Forward of Business Losses
The Punjab & Haryana High Court clarifies the treatment of notional losses, allowing the carry forward of losses due to market fluctuations.
Aug 1, 20244 min read