NCLT Kolkata held that financial creditors can file simultaneously two application under section 7 of the Insolvency and Bankruptcy Code, 2016 against the principal borrower and corporate guarantor. Accordingly, CIRP application against corporate debtor allowed as debt and default proved.
Karnataka HC emphasized that availability of records with the tax authorities allows reconciliation of ITC even if the show-cause notice reply is pending. The order highlights procedural fairness and proper ITC verification under GST law.
Department of Posts replaces “unsound mind” with “persons with mental illness or intellectual disability” in Post Office Savings Bank schemes from September 2025.
The IBBI Disciplinary Committee suspended an Insolvency Professional for one year for improperly forfeiting an Earnest Money Deposit, exceeding the stipulated conditions.
SEBI has updated regulations for Angel Funds, requiring them to raise funds from accredited investors defining investment terms, and setting new compliance and reporting standards.
Jharkhand High Court grants bail to an individual accused of Rs. 11 crore GST evasion, citing the prolonged period of the accused’s custody.
SEBI’s new circular simplifies rules for Foreign Portfolio Investors focusing on government securities. Learn about the new relaxed KYC, registration, and transition requirements.
The Income Tax Appellate Tribunal (ITAT) Chandigarh has reversed a tax addition of Rs. 6.75 lakhs on gifts received by an assessee ruling that the gifts from his sister and father-in-law were valid.
The Income Tax Appellate Tribunal (ITAT) in Jodhpur has sent a tax dispute involving Narain Dal And Oil Mills back to the lower tax authority for a re-examination of an unpaid IGST claim of Rs. 37.92 lakh.
The Punjab and Haryana High Court granted regular bail to an individual accused of excise violations, citing his custody period and prior judicial precedents.
