Banks Must Halt Online Money Game Transactions On Regulator's Direction Under Online Gaming Rules, 2026

Banks and payment intermediaries will be required to suspend or block transactions linked to online money games when directed by the regulator, under the Online Gaming Rules, 2026.The Rules were notified by the centre on Wednesday.Rule 19(2) says that once the Online Gaming Authority issues directions in respect of an online money game, banks, financial institutions, and entities facilitating transactions must suspend, restrict, or close such transactions and stop authorising funds tied to those...

Road Ministry Pushes For Pre-Conciliation In Highway Contractual Disputes Under Vivad Se Vishwas-III Scheme

The Ministry of Road Transport and Highways has directed agencies executing highway projects to step up the use of pre-conciliation under the Vivad se Vishwas III scheme and ensure strict adherence to arbitration procedures, following a review that flagged rising interest liabilities. An office memorandum issued on April 9, 2026, records that the Ministry examined pending arbitration and court cases in March and stressed the need for compliance with its Arbitration Standard Operating Procedure...

ICAI Denies Reports of New Authority for CA Exams, Calls Claims “Factually Incorrect”

The Institute of Chartered Accountants of India (ICAI) has pushed back against media and social media reports claiming that the Government is planning to set up a separate authority to conduct CA examinations along with other professional tests. The Institute said such reports have led to confusion and panic among students preparing for the upcoming May examinations. In a recent press note, ICAI clarified that the claims are “factually incorrect” and not supported by any official confirmation...

Former Additional Controller General Of Defence Accounts K.V.R. Murty Takes Charge As SEBI Whole-Time Member

Former Additional Controller General of Defence Accounts K.V.R. Murty has taken charge as Whole-Time Member of the Securities and Exchange Board of India (SEBI) in Mumbai. Murty brings over three decades of experience across national security and corporate affiars. Over the course of his career, he has held key financial advisory roles, including Principal Integrated Financial Adviser to the Indian Air Force and Financial Adviser to the Defence Research and Development Organization (DRDO). ...

MCA Draft Rules for Company Incorporation Propose Merging Multiple Forms Into Two To Ease Compliance Burden

Companies may soon be able to file just two forms instead of several specified incorporation-related filings, with the Ministry of Corporate Affairs proposing a significant overhaul to make compliance simpler. The Ministry has put out the draft Companies (Incorporation) Amendment Rules, 2026, for public consultation, seeking feedback till May 9. The move follows a broader review of suggestions from stakeholders and is aimed at making incorporation processes smoother and less burdensome. A key...

RBI Cancels 54 NBFC Licenses, 16 Others Exit Business Voluntarily

The Reserve Bank of India (RBI) has cancelled the licences of 54 NBFCs, barring them from carrying out financial business. The central bank said it acted under its powers under Section 45-IA(6) of the RBI Act, 1934, which allows it to cancel or accept the surrender of licences of NBFCs when they do not meet regulatory requirements. A large number of these companies whose licenses were cancelled were based in Delhi, with others located in Haryana, West Bengal, and Telangana. Some of the...

CAT Delhi Dismisses NCLT Technical Member's Plea Against Appointment Of B.V. B. Das As Acting President

The Central Administrative Tribunal (CAT) at Delhi on Wednesday dismissed a plea by NCLT Technical Member Kaushalendra Kumar Singh challenging the Center's notification appointing Bachu Venkat Balram Das as the acting President of the tribunal, holding that it lacked jurisdiction to entertain the dispute. A bench of Judicial Member R.N. Singh and Administrative Member B. Anand observed, "The post of Technical Member and/or Judicial Member is neither a Civil Post nor the post belongs to All...

LiveLaw Invites Applications for Editorial Roles at LIVELAWBIZ

LiveLawBiz, the corporate and business law vertical of LiveLaw, is expanding its editorial team and inviting applications from qualified and motivated candidates for the following positions: 1. Executive EditorExperience Required: Minimum 4 years or more in corporate legal reporting/EditingEligibility Criteria: Law degree (LL.B. or equivalent) is mandatoryStrong background in reporting on corporate law, business regulations, M&A, compliance, and financial legal developments Proven...

Delhi Excise Policy Case: PMLA Appellate Tribunal Upholds ₹24.25 Cr Attachment Of Properties Of Gautam Malhotra, Companies

The PMLA Appellate Tribunal (Appellate Tribunal under SAFEMA) has upheld the attachment of properties linked to Diamond Liquors Pvt. Ltd., Gautam Malhotra, and Gautam Wines Pvt. Ltd., rejecting their challenge to the attachment of Rs. 24.25 crore in a case arising from allegations of kickbacks and cartelization under the Delhi Excise Policy 2021 to 22. A coram led by Chairman Justice Munishwar Nath Bhandari, along with Member G. C. Mishra, found that the funds were not incidental but were used...

Centre Appoints Justice Sudhir Kumar Jain as DRAT Delhi Chairperson

The Central Government has approved the appointment of Justice Sudhir Kumar Jain, a Member of the National Consumer Disputes Redressal Commission and former Delhi High Court judge, as Chairperson of the Debts Recovery Appellate Tribunal (DRAT), Delhi. The competent authority has cleared his appointment for a tenure of five years from the date of assumption of charge, or until he attains the age of 70 years, or until further orders, whichever is earlier. According to a communication issued by...

Union Budget 2026-27: Centre Notifies Finance Act, 2026

The Central Government has notified the Finance Act, 2026, giving statutory effect to the budget proposals for the financial year 2026-27 after receiving presidential assent on March 30, 2026. The Act, published in the Gazette of India, states, "An Act to give effect to the financial proposals of the Central Government for the financial year 2026-27.” Most provisions of the legislation will come into force from April 1, 2026, including those relating to income-tax rates and amendments to...

RBI Imposes ₹31.80 Lakh Penalty On Airtel Payments Bank For Non-Compliance With Disclosure Norms

The Reserve Bank of India on Monday imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited for non-compliance with certain provisions of the directions issued by RBI on “Disclosure in Financial Statements”.The action follows the Statutory Inspection for Supervisory Evaluation conducted with reference to the bank's financial position as on March 31, 2025. Based on the supervisory findings, RBI found non-compliance with its directions and issued a show cause notice to the...