News Updates
Mumbai Court Directs CBI To Furnish Chargesheet To Ex-RCFL CEO Devang Mody In ₹7,623 Crore Fraud Case
A Special CBI Court in Mumbai on Friday directed the Central Bureau of Investigation (CBI) to furnish an electronic copy of the chargesheet to former Reliance Commercial Finance Ltd. (RCFL) Chief Executive Officer and Director Devang Pravin Mody. Mody is accused in the alleged ₹7,623 crore bank fraud case involving Reliance ADA Group companies. The case relates to alleged irregularities in loans extended by a consortium of 31 banks and financial institutions to Reliance Commercial Finance Ltd....
UNCITRAL's Next 60 Years Will Be About Inclusive, Tech-Responsive Commercial Law: AG R. Venkatramani
Attorney General R. Venkatramani on July 24 said that the next 60 years of the United Nations Commission on International Trade Law (UNCITRAL) would be about ensuring international commercial law remains inclusive, technologically responsive and truly global. He said this would be critical as international trade and commerce continue to evolve. Delivering the welcome address at the international conference commemorating UNCITRAL's 60th anniversary, Venkatramani said the Commission had spent the...
CBIC Forms Working Group To Examine PAN-Based Centralised GST Administration For Multi-GSTIN Taxpayers
The Central Board of Indirect Taxes and Customs (CBIC) has constituted a Working Group to examine a proposal for centralised administration of taxpayers holding multiple Goods and Services Tax (GST) registrations under the same Permanent Account Number (PAN). The proposal covers taxpayers whose GST registrations fall under different Central Tax jurisdictions.The move is aimed at promoting ease of doing business and improving administrative efficiency. It seeks to streamline GST administration...
Centre Notifies Oman's Social Protection Fund For Tax Exemption On Eligible Investments In India
The central government has notified Oman's Social Protection Fund (SPF) as a specified person eligible to claim tax exemption on qualifying investments made in India under the Income Tax Act, 2025. This will apply to eligible investments made from the date of publication of the notification in the Official Gazette until March 31, 2030, subject to prescribed conditions.The notification, issued by the Central Board of Direct Taxes (CBDT), requires the fund to file income tax returns within the...
GSTAT Launches Token Facility For Appellants Facing Issues In E-Filing Appeals
The Goods and Services Tax Appellate Tribunal (GSTAT) has activated the token generation facility for appellants facing issues while filing appeals on its e-filing portal. The facility is available through the scrolling highlights on the portal's home page. A token generated on or before July 31, 2026, will be treated as sufficient compliance with the appeal filing deadline. The appellant must, however, complete the actual filing within 60 days from the date of token generation. The tribunal...
Justice Yogesh Khanna Appointed Officiating NCLAT Chairperson
Justice Yogesh Khanna has been appointed as the officiating chairperson of the National Company Law Appellate Tribunal (NCLAT) with effect from 5 July 2026, according to details updated on the tribunal's website. He assumed the role following the retirement of Justice Ashok Bhushan on 4 July 2026. Justice Khanna was appointed as a judicial member of the NCLAT on 19 February 2024. Before joining the tribunal, he served as a permanent judge of the Delhi High Court. He holds a B.Com. (Hons.)...
Trade Marks Registry Rejects Registration Of 'BOSSBABE' Trade Mark Over Similarity To Hugo Boss' Mark
The Trade Marks Registry, Ahmedabad, has refused registration of the mark "BOSSBABE" for cosmetics and skin care products. It allowed an opposition filed by Coty Beauty Germany GmbH, the exclusive global licensee for HUGO BOSS fragrance products under Class 3. Assistant Registrar of Trade Marks Rama Devi Verma held that the applicant's mark was dominated by the word "BOSS", which is identical to the opponent's registered mark. The Registrar observed that the addition of the word "BABE" does...
Order Passed On Mistaken Facts Cannot Be Basis For Contempt: NCLAT
The National Company Law Appellate Tribunal (NCLAT) has dismissed a contempt petition against a liquidator after holding that an order passed under a mistaken impression of facts cannot be enforced through contempt proceedings. A bench of Judicial Member Justice N. Seshasayee and Technical Member Indevar Pandey observed, “The Order passed on a mistaken impression about the existence of a fact, therefore, can neither be understood as a direction to restore a certain status quo ante, nor can it...
CBIC Notifies Rules For Preferential Tariff Benefits Under India-UK CETA Ahead Of 15 July Rollout
The Central Board of Indirect Taxes and Customs (CBIC) on 3 July notified the Customs (Administration of Rules of Origin under the Comprehensive Economic and Trade Agreement between India and the United Kingdom) Rules, 2026, paving the way for implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA) from 15 July. They will come into force on the same day as the trade pact. India and the United Kingdom signed the CETA on 24 July 2025 to reduce or eliminate tariffs,...
ICAI Proposes Major Hike In Stipend For CA Articled Assistants, Revises Population-Based Slabs
The Institute of Chartered Accountants of India (ICAI) on 25 June proposed increasing the minimum monthly stipend payable to Chartered Accountant articled assistants through draft amendments to the Chartered Accountants Regulations, 1988. The proposal seeks to revise stipend rates across all categories of cities and towns and has been published in the Gazette of India for public consultation. Under the existing regulations, articled assistants in cities with a population of 20 lakh and above...