The RBI has withdrawn its 2021 circular on grievance redress mechanisms following updated disclosure norms and enhanced ombudsman compensation powers. Banks must still maintain robust grievance systems under existing regulations.
The ROC held that filing AOC-4 with incorrect company status details constitutes a violation of Rule 8(3). Rectification through GNL-1 does not eliminate liability, and penalties were imposed under Section 450.
Filing incorrect AGM date and due date in Form AOC-4 triggered adjudication proceedings under Section 454. The authority emphasized that MCA filings are public records relied upon by regulators and stakeholders. Responsibility for accuracy rests with the authorised signatory, who was held personally liable.
The Government clarified how regulatory powers and red-flag indicators are used to tackle shell and dormant companies misused for capital rotation.
The Government stated that representations on own merit promotions are examined regularly as per existing rules, with no separate confirmation of backlog figures.
The Government clarified that printed books, including educational and medical books, are fully exempt from GST, eliminating concerns of added financial burden.
The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, as existing law already allowed similar access.
India’s banks record a sharp decline in bad loans, with gross NPAs at 2.15% by September 2025, highlighting the impact of sustained regulatory and policy reforms.
The Maharashtra AAR held that employer-provided canteen services amount to a taxable supply where any amount is recovered from employees, with GST payable on the recovered portion.
SEBI has required AIFs to report unit NAVs to depositories within a defined timeline. The move strengthens transparency, standardises disclosures, and improves investor visibility.
