RBI draft amendments discontinue the Investment Fluctuation Reserve requirement for banks. The balance can now be counted as Tier 1 capital, improving capital adequacy and simplifying norms.
SEBI clarifies that the broad-based fund requirement applies at the scheme level for AIFs. This ensures accurate investor composition and stricter compliance for AMCs.
The discussion paper addresses increasing APP frauds and proposes preventive safeguards like transaction delays and authentication layers. It aims to strengthen security without disrupting digital payment convenience.
The Committee recommends shifting from entity-level to project-wise insolvency to avoid delays and protect viable projects. It held that completion, not liquidation, should be the primary objective in real estate insolvency.
The study finds that while RPs play a central role in insolvency resolution, gaps exist in managerial expertise and process execution. It recommends structural and skill-based improvements for better outcomes.
ICSI has opened empanelment for General Observers with detailed eligibility conditions to maintain fairness. It emphasizes independence and conflict-free participation in examination supervision.
CESTAT Kolkata held that amount deposited during the course of investigation is not voluntary payment but it was deposit made under mistaken notion and hence doesn’t amount to duty. Accordingly, interest is eligible on amount refunded.
ITAT Delhi held that granting of mandatory approval under section 153D of the Income Tax Act by Additional Commissioner of Income Tax in a mechanical manner and without due application of mind is an empty ritual. Thus, order held void-abinitio for want of valid approval u/s. 153D.
The authority identified inconsistent SAC usage across IFSC units, impacting data reliability. It proposes standardised classification to improve reporting accuracy and comparability.
The Supreme Court held that non-supply of written grounds of arrest violates constitutional safeguards. The arrest and remand were declared illegal, leading to grant of bail.
