RBI Tweaks Reference Date For Fortnightly Reporting By Scheduled Banks

The Reserve Bank of India has tweaked the cut-off date for fortnightly reporting by scheduled banks, without changing the reporting frequency itself. The change has been brought by the notification of the Reserve Bank of India Scheduled Banks' (Amendment) Regulations, 2025.Banks, which were already filing returns on a fortnightly basis, will now report their statement of position as on the last day of the fortnight, instead of the earlier practice of reporting figures as on a Friday. The change...

RBI Issues New Internal Ombudsman Rules For Credit Bureaus, NBFCs And Prepaid Payment Companies

The Reserve Bank of India has rolled out a fresh set of rules that make it mandatory for several financial sector players to appoint an internal ombudsman, a senior, independent official who will review certain customer complaints before they are finally rejected. Through three separate notifications issued on January 14, 2026, the RBI notified the Internal Ombudsman Directions for Credit Information Companies, eligible Non-Banking Financial Companies, and large non-bank Prepaid Payment...

CCPA Imposes Rs.10 Lakh Penalty On Flipkart And Meta For Misleading Listings Of Walkie-Talkies

The Central Consumer Protection Authority has, in two separate orders, imposed a penalty of Rs.10 lakh each on Flipkart Internet Private Limited and Meta Platforms Inc for indulging in misleading advertisements and unfair trade practices by permitting the listing and sale of walkie-talkies on their platforms without mandatory disclosures required under law.A coram of Chief Commissioner Nidhi Khare and Commissioner Anupam Mishra was dealing with matters relating to the sale of walkie-talkies on...

CBIC Revises Tariff Values For Gold, Silver, Edible Oils And Brass Scrap

The Central Board of Indirect Taxes and Customs (CBIC) has updated tariff values for edible oils, brass scrap, gold, silver and areca nuts. By a notification issued on 15 January 2026, the CBIC notified revised tariff values effective from 16 January 2026, fixing the tariff value of gold at USD 1,483 per 10 grams and silver at USD 2,950 per kilogram. The CBIC has also notified that there is no change in the tariff value of areca nuts falling under tariff item 080280. Further, revised tariff...

DGFT Restricts Import Of Low-Ash Metallurgical Coke For Six Months

In a recent notification, the Directorate General of Foreign Trade (DGFT) tightened norms for the import of low-ash metallurgical coke, placing it under the “Restricted” category for a six-month period from 1 January 2026 to 30 June 2026. During this period, such imports will be allowed only with approval under Policy Condition No. 08 of Chapter 27 of the import policy.Low-ash metallurgical coke refers to coke with an ash content of below 18%. It is a key raw material used in steel and...

Reference To Arbitration Requires Independent Application, Cannot Be Inferred From Plea To Reject Plaint: Calcutta High Court

The Calcutta High Court recently rejected a Master's summons application filed by M/s Samman Capital Limited, that sought stay of a commercial suit on the grounds of an existing arbitration clause.Master's summons under the Code of Civil Procedure (CPC) refers to a court order (summons) compelling a party to appear, often to provide documents or information relevant to an insolvency proceeding or specific case issues.The Court emphasised that for a dispute to be referred to arbitration, the law...

CCPA Fines China Gate ₹50,000 For Service Charge Automatically Levied At Bora Bora Mumbai

The Central Consumer Protection Authority (CCPA) has recently levied a penalty of Rs 50,000 on China Gate Restaurant Private Limited for automatically adding a service charge to restaurant bills and charging GST on it, calling the practice unfair to consumers. The order relates to the company's “Bora Bora” outlet in Mumbai. The order was passed by a coram comprising Chief Commissioner Nidhi Khare and Commissioner Anupam Mishra. The Authority said the service charge was not optional in...

NCLAT Limits Ansal Properties' Insolvency To Sushant Golf City and Rajasthan Projects

The National Company Law Appellate Tribunal (NCLAT) at New Delhi refused to overturn the insolvency proceedings against Ansal Properties and Infrastructure Limited.However, it restricted the process to Sushant Golf City in Lucknow and three Rajasthan projects: Ansal Royal Plaza, Orchid Plaza, and Tulip Plaza. The tribunal said extending the insolvency process to projects not linked to the loan securities was “uncalled for” and would disrupt unrelated real estate projects. A coram of Judicial...

Calcutta High Court Sets Aside Patent Office Order Rejecting US Company's Glass Fibre Patent

The Calcutta High Court has set aside a Patent Office order rejecting a patent application filed by OCV Intellectual Capital LLC, a subsidiary of Owens Corning. The court held that the refusal was passed without proper analysis of novelty and inventive step. A single-judge bench of Justice Ravi Krishan Kapur, in a judgment dated January 6, 2026, held that the Patent Office rejected the application without engaging with the technical submissions made by the company or recording clear reasons...

Funding Rival Bids, Using Same IP Proves Bid Rigging, NCLAT Upholds CCI Penalty Against Klassy Enterprises

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently upheld a Rs 10 lakh penalty imposed by the Competition Commission of India on Klassy Enterprises, holding that paying the tender costs of rival bidders and submitting bids from the same IP address was enough to show bid rigging, even without a written cartel agreement. A bench of Judicial Member Justice Mohd. Faiz Alam Khan and Technical Member Naresh Salecha dismissed Klassy Enterprises' appeal against the CCI's...

Calling Guarantor 'Director' In SARFAESI Notice Doesn't Invalidate Invocation Of Guarantee: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently ruled that merely describing a personal guarantor as a “Director” in a SARFAESI demand notice does not invalidate the invocation of the personal guarantee, as long as the notice clearly demands payment of the outstanding dues under the guarantee deed. The tribunal said the real test is not how the person is described, but what the notice actually asks for. The bench of Justice Mohd. Faiz Alam Khan and Naresh Salecha...

NCLAT Upholds Eviction Of Subsidiaries From Corporate Debtor's Properties During Liquidation

The National Company Law Appellate Tribunal (NCLAT) at Delhi has upheld the NCLT Ahmedabad's order directing eviction of two subsidiaries from premises owned by a corporate debtor. The court held that the NCLT can exercise jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (which gives the insolvency court power to decide questions of law or fact arising out of or connected with insolvency or liquidation) to recover possession and rent during liquidation when the underlying...