The IBBI held that prolonged failure to hold SCC meetings, delayed progress reporting, and repeated absence before the Adjudicating Authority amounted to serious professional misconduct. The order underscores the importance of strict adherence to statutory duties under the insolvency framework.
ROC Delhi held that delay in issuing share certificates to subscribers violated Section 56(4)(a) of the Companies Act. The company and its officers were penalised despite subsequently rectifying the default.
GSTN has postponed the implementation of mandatory “Ship To GSTIN” capture and voluntary E-Way Bill closure to 1 August 2026. The extension was granted to allow taxpayers and technology providers additional time for preparedness.
RBI has reiterated that old series banknotes issued before 2005 remain legal tender but should not be re-issued by banks. The circular consolidates earlier instructions aimed at introducing notes with enhanced security features.
The RBI has consolidated all directions relating to the withdrawal of ₹2000 banknotes from circulation. The circular reiterates that these notes remain legal tender and can be exchanged or deposited at designated RBI offices.
The Central Government has amended Notification No. 62/2022-Customs to prescribe a 0% Basic Customs Duty on all goods falling under tariff item 26020010. The move aims to lower import costs and provide relief to industries relying on these imports.
CBIC has designated a common adjudicating authority to decide several customs show cause notices issued by different commissionerates against the same importer. The move seeks to ensure consistency and avoid conflicting rulings.
IBBI held that an Insolvency Professional cannot delay constitution of the Committee of Creditors based on settlement discussions or creditor reluctance. Failure to follow mandatory CIRP timelines resulted in a three-year suspension.
The Fourth Amendment Regulations, 2026 require committees of creditors to document the rationale behind approving resolution plans and assessing market discovery efforts. The changes aim to improve accountability and transparency in insolvency proceedings.
RBI has exempted eligible FCNR(B) deposits from CRR and SLR requirements until September 30, 2026. The measure is aimed at attracting foreign currency funds and strengthening banking system liquidity.
