Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
Reporting obligations under FEMA's Guarantees Regulations, 2026 are aligned to three prescribed return formats: Form GRN Issue for guarantee issuance, Form GRN Modification for changes in guarantee terms, and Form GRN Invocation for invocation reporting. Authorised dealer banks must submit these returns to the Reserve Bank through CIMS within 30 calendar days from the end of the relevant quarter and assign a unique Guarantee Transaction Number for each guarantee issuance before submission. For late submission fee purposes, the amount involved in delayed Form GRN Invocation reporting is the liability created on invocation, while delayed Form GRN Issue and Form GRN Modification are treated as nil because they do not capture flows. The directions take immediate effect.
Reporting obligations under FEMA's Guarantees Regulations, 2026 are aligned to three prescribed return formats: Form GRN Issue for guarantee issuance, Form GRN Modification for changes in guarantee terms, and Form GRN Invocation for invocation reporting. Authorised dealer banks must submit these returns to the Reserve Bank through CIMS within 30 calendar days from the end of the relevant quarter and assign a unique Guarantee Transaction Number for each guarantee issuance before submission. For late submission fee purposes, the amount involved in delayed Form GRN Invocation reporting is the liability created on invocation, while delayed Form GRN Issue and Form GRN Modification are treated as nil because they do not capture flows. The directions take immediate effect.
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