MCA imposed penalties on Tamilnad Mercantile Bank and its officers for violating Section 118 of the Companies Act, 2013 by finalizing board meeting minutes 182 days late. The ruling underscores the importance of timely compliance in corporate governance.
Supreme Court held that customs duty exemption provided vide notification no. 151/2009-Cus dated 31-12-2009 is available on import of G Watch (Smart Watch) from the Republic of Korea. Accordingly, the appeal is allowed.
Notification 30/2025-26 amends India’s import policy. ATS-8 imports valued under US$111/kg are restricted until Sep 30, 2026. Exemptions apply for EOUs and SEZ units.
NCLAT Delhi held that demand of EPFO raised on the basis of inspection report dated 10.05.2023 and assessment order dated 25.09.2023 which is subsequent to initiation of CIRP on 17.02.2023 cannot be sustained. Accordingly, appeal set aside.
Rajasthan High Court held that department is under a statutory obligation to refund the amount with interest @12% p.a.. Therefore, rejection of claim of refund vide order dated 04th January 2023, is unsustainable in the eye of law.
AAAR Tamil Nadu holds it cannot condone delay beyond 30 days. Kanishk Steel’s appeal on ITC for solar plant dismissed without considering merits.
The petitioner has a division “Pearson Vue” which is engaged in providing computer based test administration solutions and pursuant to its contract with GMAC, USA, the petitioner conduct GMAT on behalf of GMAC for candidates in India.
NCLT Mumbai held that application u/s. 10 of Insolvency and Bankruptcy Code seeking own Corporate Insolvency Resolution Process [CIRP] is admitted as the Corporate Applicant is in default of a debt due. Accordingly, writ petition allowed.
PFRDA releases an exposure draft proposing amendments to NPS regulations, focusing on increased flexibility for exits, withdrawals, and age limits for subscribers.
The Chartered Accountants Association requests a tax deadline extension to November 30, 2025, due to ITR utility delays, portal glitches, and floods.
