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September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.

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News and Press Release

GUIDELINES FOR COURT FUNCTIONING THROUGH VIDEO CONFERENCING DURING COVID-19 PANDEMIC

April 7, 2020

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IN THE SUPREME COURT OF INDIA

CIVIL ORIGINAL JURISDICTION

SUO MOTU WRIT (CIVIL) NO.5/2020

IN RE: GUIDELINES FOR COURT FUNCTIONING THROUGH VIDEO CONFERENCING DURING COVID-19 PANDEMIC

ORDER

1. The recent outbreak of COVID-19 (Coronavirus) in several countries, including India, has necessitated the immediate adoption of measures to ensure social distancing in order to prevent the transmission of the virus. The Supreme Court of India and High Courts have adopted measures to reduce the physical presence of lawyers, litigants, court staff, para legal personnel and representatives of the electronic and print media in courts across the country and to ensure the continued dispensation of justice.

2. Every individual and institution is expected to cooperate in the implementation of measures designed to reduce the transmission of the virus. The scaling down of conventional operations within the precincts of courts is a measure in that direction. Access to justice is fundamental to preserve the rule of law in the democracy envisaged by the Constitution of India. The challenges occasioned by the outbreak of COVID-19 have to be addressed while preserving the constitutional commitment to ensuring the delivery of and access to justice to those who seek it. It is necessary to ensure compliance with social distancing guidelines issued from time to time by various health authorities, Government of India and States. Court hearings in congregation must necessarily become an exception during this period.

3. Modern technology has enabled courts to enhance the quality and effectiveness of the administration of justice. Technology has facilitated advances in speed, accessibility and connectivity which enable the dispensation of justice to take place in diverse settings and situations without compromising the core legal principles of adjudication. Indian courts have been proactive in embracing advancement in technology in judicial proceedings. The Indian judiciary has incorporated Information and Communication Technology systems through the e-Courts Integrated Mission Mode Project (e-Courts Project) as part of the National e- Governance Plan (NeGP). The robust infrastructure in place has reduced conventional impediments and legal uncertainty surrounding the use of virtual courts. ICT enabled infrastructure is available across all courts including the district judiciary which constitutes the initial interface of the court system with the citizen.

4. The use of technology found judicial recognition in  precedent of this Court in State of Maharashtra v Praful Desai [(2003) 4 SCC 601]. This Court held that the term ‘evidence’ includes electronic evidence and that video conferencing may be used to record evidence. It observed that developments in technology have opened up the possibility of virtual courts which are similar to physical courts. The Court held:

“Advances in science and technology have now, so to say, shrunk the world. They now enable one to see and hear events, taking place far away, as they are actually taking place…Video conferencing is an advancement in science and technology which permits one to see, hear and talk with someone far away, with the same facility and ease as if he is present before you i.e. in your presence… In fact he/she is present before you on a screen. Except for touching one can see, hear and observe as if the party is in the same room. In video conferencing both parties are in presence of each other… Recording of such evidence would be as per “procedure established by law”.”

5. Faced with the unprecedented and extraordinary outbreak of a pandemic, it is necessary that Courts at all levels respond to the call of social distancing and ensure that court premises do not contribute to the spread of virus. This is not a matter of discretion but of duty. Indeed, Courts throughout the country particularly at the level of the Supreme Court and the High Courts have employed video conferencing for dispensation of Justice and as guardians of the Constitution and as protectors of individual liberty governed by the rule of law. Taking cognizance of the measures adopted by this court and by the High Courts and District Courts, it is necessary for this court to issue directions by taking recourse to the jurisdiction conferred by Article 142 of the Constitution.

6. Therefore, in exercise of the powers conferred on the Supreme Court of India by Article 142 of the Constitution of India to make such orders as are necessary for doing complete justice, we direct that:

i. All measures that have been and shall be taken by this Court and by the High Courts, to reduce the need for the physical presence of all stakeholders within court premises and to secure the functioning of courts in consonance with social distancing guidelines and best public health practices shall be deemed to be lawful;

ii. The Supreme Court of India and all High Courts are authorized to adopt measures required to ensure the robust functioning of the judicial system through the use of video conferencing technologies; and

iii. Consistent with the peculiarities of the judicial system in every state and the dynamically developing public health situation, every High Court is authorised to determine the modalities which are suitable to the temporary transition to the use of video conferencing technologies;

iv. The concerned courts shall maintain a helpline to ensure that any complaint in regard to the quality or audibility of feed shall be communicated during the proceeding or immediately after its conclusion failing which no grievance in regard to it shall be entertained thereafter.

v. The District Courts in each State shall adopt the mode of Video Conferencing prescribed by the concerned High Court.

vi. The Court shall duly notify and make available the facilities for video conferencing for such litigants who do not have the means or access to video conferencing facilities. If necessary, in appropriate cases courts may appoint an amicus-curiae and make video conferencing facilities available to such an advocate.

vii. Until appropriate rules are framed by the High Courts, video conferencing shall be mainly employed for hearing arguments whether at the trial stage or at the appellate stage. In no case shall evidence be recorded without the mutual consent of both the parties by video conferencing. If it is necessary to record evidence in a Court room the presiding officer shall ensure that appropriate distance is maintained between any two individuals in the Court.

viii. The presiding officer shall have the power to restrict entry of persons into the court room or the points from which the arguments are addressed by the advocates. No presiding officer shall prevent the entry of a party to the case unless such party is suffering from any infectious illness. However, where the number of litigants are many the presiding officer shall have the power to restrict the numbers. The presiding officer shall in his discretion adjourn the proceedings where it is not possible to restrict the number.

7. The above directions are issued in furtherance of the commitment to the delivery of justice. The cooperation of all courts, judges, litigants, parties, staff and other stakeholders is indispensable in the successful implementation of the above directions to ensure that the judiciary rises to face the unique challenge presented by the outbreak of COVID-19. These directions shall operate until further orders.

8. List the matter after four weeks.

…………………………………CJI

[ S.A.BOBDE ]

…………………………………J.

[ D.Y. CHANDRACHUD ]

…………………………………J.

[ L. NAGESWARA RAO ]

NEW DELHI;

APRIL 06, 2020.

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