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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.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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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.
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CBIC Circular 266/12/2026-GST clarifies that TRAI does not qualify as the government under indirect tax laws. The notification addresses reverse charge mechanism applicability and the taxability of statutory regulatory fees.
Effective Not specified in the update
For professionals: Review current payment ledgers for regulatory fees in light of Circular 266/12/2026-GST issued by the Central Board of Indirect Taxes and Customs. · Reassess reverse charge liabilities and inspect client accounts for compliance regarding statutory regulatory fees and government services. · Watch for further clarifications regarding statutory fee treatments to protect against unexpected tax demands.
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Post-IPO compliance requirements involve stock exchange filings with NSE and BSE, adherence to SEBI LODR rules, and insider trading disclosures. Companies must also manage financial result submissions, permanent account number freezing, and quarterly reporting obligations.
Effective Not specified in the update
For professionals: Advise management on avoiding disclosure lapses and maintaining strict tracking calendars for upcoming reporting deadlines. · Establish robust internal reporting mechanisms to handle stock exchange filings and quarterly disclosures without delays.
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