IFSCA launched the Foreign Currency Settlement System (FCSS), operated by CCIL IFSC Ltd. The system settles USD transactions using gross settlement, with SCB as the Settlement Bank.
CBIC circular simplifies bank account registration for exporters. Same incentive bank account and IFSC code are now auto-approved at multiple customs locations if previously approved.
Kerala High Court dismisses RTI appeal by Dhananjay Gaikwad; IBBI provided all information under its control, no new data required under RTI Act.
India’s Commerce Ministry clarifies that SOFTEX form filing isn’t mandatory for service exports between SEZ units or from a DTA unit to an SEZ unit. These transactions are not governed by FEMA regulations, streamlining compliance.
Kerala High Court upholds life sentence for acid attack on wife and children, directs State to pay Rs 3 lakh compensation to each victim.
Karnataka HC quashed a faceless ex-parte tax assessment and penalties, ruling that statutory notice sent to an inactive email ID invalidates the entire assessment process.
IBBI’s First Appellate Authority dismissed Mohit R. Mehta’s RTI appeal, affirming the CPIO’s decision that queries on RV/RVE compliance timelines and guidelines constitute clarification or advice, falling outside the RTI Act’s definition of information.
ROC Delhi imposed penalties for failing to consecutively number minutes books of board and general meetings for FY 2014–15 to 2016–17, violating Section 118(11) of the Companies Act. The order underscores that accurate and sequential recordkeeping is a legal mandate.
SC quashed a Chhattisgarh tender clause requiring ₹6 Cr local supply experience, deeming it arbitrary and violative of Articles 14 and 19(1)(g), upholding fair competition.
SC expunges Kerala HC’s surprise directions for fee refixation and vigilance inquiry, affirming that a litigant cannot be placed in a worse position in their own writ petition.
