The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management and integrated project operations. The ruling clarifies when multiple corporate entities can face consolidated CIRP under the IBC.
Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation of the Income Tax Act, 2025. It emphasized that officers will remain heavily engaged in training, awareness, and transition-related activities throughout the financial year.
The case involved a broker implementing substantial shareholding changes without obtaining IRDAI’s prior approval as required by regulations. IRDAI held that the violation was established but issued a warning considering corrective measures and future compliance commitments.
ROC Uttar Pradesh penalized a company and its directors for failing to file the annual return for FY 2019-20 under Section 92(4). The ruling highlights strict consequences for non-filing of statutory annual returns under the Companies Act, 2013.
ROC Uttar Pradesh dropped penalty proceedings after confirming that Form MGT-14 had already been filed for approval of accounts. The ruling highlights that penalties under Section 117(2) cannot survive once compliance is verified.
ROC Uttar Pradesh imposed penalties on a company and its directors for non-filing of financial statements for FY 2019-20. The order highlights that incorrect attachments in Form AOC-4 cannot cure statutory non-compliance under Section 137 of the Companies Act.
SEBI clarified that renewable energy projects awarded through tariff-based competitive bidding by government entities qualify as PPP projects under InvIT Regulations. The ruling highlights that projects involving public authorities and private SPVs with risk allocation under PPAs satisfy PPP requirements.
RBI has abolished the mandatory Investment Fluctuation Reserve requirement for commercial banks following changes in market risk and investment regulations. Banks must now transfer existing IFR balances to reserves or profit and loss accounts.
The Central Government directed provisional assessment of imports of anodized aluminium frames for solar panels from a Chinese exporter during an ongoing new shipper review. Importers may face retrospective anti-dumping duty liability depending on the final outcome of the investigation.
RBI has amended Investment Fluctuation Reserve norms for Small Finance Banks after identifying operational difficulties in maintaining IFR. The revised framework prescribes a minimum reserve linked to investment portfolio exposure.
