Execute Your Financial Knowledge

Chennai NCLT Rules Pre-COVID Defaults Lack Section 10A Protection

NCLT Chennai initiated corporate insolvency proceedings against Karthik Travels. The tribunal confirmed unpaid dues exceeding ₹1 crore alongside failed settlement talks. It ruled that historical defaults predating the pandemic do not qualify for immunity under Section 10A.

Effective Not specified in the update

For professionals: Practitioners handling financial default cases must carefully verify the exact timeline of default before advising corporate clients on Section 10A IBC protections. Pre-COVID loan defaults are ineligible for statutory shielding under Section 10A of the Insolvency and Bankruptcy Code. Creditors retain full statutory rights to trigger insolvency proceedings for defaults incurred before the designated pandemic disruption window if unpaid dues breach the statutory threshold.

Open for the full story →

Sensex Breaks Losing Streak in October Driven by Foreign Inflows

The Sensex snapped a consecutive two-month decline during October propelled by returning foreign investments. However, market sentiment remained tempered due to crude oil prices hovering past $110 and lingering uncertainty regarding ongoing foreign capital participation.

Effective Not specified in the update

For professionals: Evaluate commodity-linked inflation pressures alongside headline index movements when advising clients. · Monitor crude price fluctuations and monthly foreign institutional trading data to manage equity exposure effectively.

Open for the full story →

CBIC Directs Interim Halt on GST Arrests and Minor Notices

The CBIC ordered tax officers to immediately halt arrests, curtail vehicle inspections, and refrain from issuing show cause notices for amounts under Rs. 10,000. These directives serve as interim measures pending formal statutory amendments to the GST laws.

Effective Not specified in the update

For professionals: Advise business clients immediately about the suspension of arrest procedures and enforcement relaxations to prevent unnecessary compliance panic. · Instruct clients regarding the restriction of vehicle inspection protocols and the prohibition of show cause notices for monetary thresholds below Rs. 10,000. · Maintain detailed records of all interactions and disputes in light of these temporary administrative priorities.

Open for the full story →

CBIC Implements Interim Guidelines Following GST Arrest Reforms

The CBIC rolled out interim instructions to give effect to recent GST Council recommendations regarding enforcement reforms. These transitional guidelines curb punitive actions by tax authorities while permanent legislative amendments are being formulated.

Effective Not specified in the update

For professionals: Review internal operating procedures to ensure alignment with the board's interim enforcement directives. Keep communications open with corporate clients regarding any shift in departmental scrutiny levels during this transitional period. Monitor subsequent notifications from the board for the formal rollout of the amended stat

Open for the full story →

Government Forms Banking Panel for Viksit Bharat Chaired by Suresh N Patel

The central government established a high-level banking committee dedicated to the Viksit Bharat initiative. Former Central Vigilance Commissioner Suresh N Patel will lead the panel, which includes prominent financial sector figures such as RBI Deputy Governor Shirish Chandra Murmu.

Effective Not specified in the update

For professionals: Monitor the committee's proceedings and subsequent policy recommendations for potential shifts in lending priorities and regulatory guidelines. · Advise institutional clients to stay updated on structural recommendations regarding institutional credit delivery, risk management, and regulatory frameworks.

Open for the full story →

Jaipur NCLT Initiates Insolvency Against SBCC Infra Over Unpaid Dues

NCLT Jaipur admitted a corporate insolvency resolution petition against SBCC Infra based on documentary proof of unpaid railway construction dues. The tribunal processed the insolvency plea while leaving the separate Micro, Small and Medium Enterprises Development Act interest claim undecided.

Open for the full story →

SEBI Eases Foreign Portfolio Rules and Extends KYC Review Window

SEBI introduced relaxations to foreign portfolio investor regulations alongside an extension for KYC evaluation processes commencing December 1. These modifications aim to simplify compliance obligations for international investors participating in domestic capital markets.

Effective December 1

For professionals: Update internal operational checklists to reflect the revised KYC timelines and relaxed regulatory parameters ahead of the implementation date. · Brief international clients on the simplified procedural requirements to facilitate seamless portfolio management. · Track subsequent SEBI circulars for precise details.

Open for the full story →

Jio Platforms Reports Q2 Net Profit of ₹8,389 Crore and Higher ARPU

Jio Platforms posted a 13.7% year-on-year increase in net profit reaching ₹8,389 crore for Q2FY27. Revenue expanded by 11.4% to ₹40,475 crore, EBITDA grew 16.6% to ₹21,879 crore, ARPU rose to ₹218.8, and the subscriber base expanded by 9.1 million users.

Open for the full story →

Tribunal rejects corporate insolvency extension request, orders company liquidation

NCLT Amaravati denied a 227-day corporate insolvency resolution process extension. The tribunal ordered liquidation while directing an investigation into asset discrepancies and the funding of liquidation expenses.

Effective Not specified in the update

For professionals: Audit asset records meticulously and ensure funding arrangements for liquidation are transparent. · Monitor upcoming tribunal directions regarding asset scrutiny and compliance deadlines to safeguard financial claims.

Open for the full story →

PB Fintech expands its UAE insurance footprint with massive nineteenfold premium growth

PB Fintech has experienced a dramatic nineteenfold expansion in its UAE insurance operations since fiscal year 2022. The firm now plans to broaden its portfolio by launching health and life insurance products tailored for non-resident Indians. These upcoming offerings will feature cross-border protection and streamlined claims settlement.

Open for the full story →

GST registration framework introduces major modifications across multiple timelines

A comprehensive overhaul of GST registration introduces changes involving Form REG-01, Rule 14B, cancellation procedures, and documentation requirements. These updates take effect across specific dates in November and December 2026, as well as April 2027.

Effective Progressively across November 2026, December 2026, and April 2027

For professionals: Review upcoming procedural requirements and update documentation checklists ahead of the effective dates. · Monitor upcoming official notifications closely and advise clients on maintaining timely compliance to avoid administrative disruptions.

Open for the full story →

Twenty-nine-year-old Manisha Bhanwala creates history as first Indian woman wrestling world champion

Twenty-nine-year-old Manisha Bhanwala has made history by securing the gold medal at the Wrestling World Championships. This remarkable achievement marks the first time an Indian woman has claimed the top podium finish at the tournament. Her historic victory brings international acclaim to Indian women's wrestling.

Open for the full story →