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1. IBBI proposes financial creditor nod for big deals in distressed firms

IBBI proposes financial creditor nod for big deals in distressed firms

IBBI proposes financial creditor nod for big deals in distressed firms New Delhi: Banks initiating bankruptcy proceedings without replacing existing management in defaulting companies will set a monetary threshold above which the distressed firm must obtain financial-creditor approval, according to a set of draft regulations released by rule maker Insolvency and Bankruptcy Board of India (IBBI) on Wednesday for public feedback. IBBI said the draft regulations setting the procedures under the ‘debtor-in-possession’ model of bankruptcy resolution will be finalized after the public consultation period ends on 28 April. The new model was introduced under the Insolvency and Bankruptcy Code (Amendment) Act of 2026, which got presidential assent on 6 April, to speed up rescue of businesses by reducing litigation from promoters of the company and to give more procedural freedom in stitching together a turnaround plan quickly with new investors. Under this, debt resolution is conducted without changing the existing management, unlike the traditional bankruptcy resolution model in which a resolution professional takes over the reins of the business. The draft regulations set clear timelines for what happens once the financial creditor triggers the process. Under this largely informal process termed as creditor‑initiated insolvency resolution process (CIIRP) in law, lenders have 50 days to call for new bids for the company and potential investors have 15 days from then to submit their plans. There will be a moratorium on recoveries during the process. Only select financial creditors and certain categories of companies can access this form of debt resolution.

2. Tariff refund portal to be launched soon – How, when to claim refunds? All FAQs answered

Tariff refund portal to be launched soon – How, when to claim refunds? All FAQs answered The US government is set to roll out an online portal called Consolidated Administration and Processing of Entr

3. TCS case: Supreme Court moved, plea seeks to classify 'forced religious conversion' as 'terrorist act'

TCS case: Supreme Court moved, plea seeks to classify 'forced religious conversion' as 'terrorist act' A plea was filed by BJP leader and advocate Ashwini Kumar Upadhyay in the Supreme Court of India

4. J&K SIA files chargesheet against 10 in ‘white collar’ module case

J&K SIA files chargesheet against 10 in ‘white collar’ module case

J&K SIA files chargesheet against 10 in ‘white collar’ module case SRINAGAR: Jammu and Kashmir police’s state investigation agency (SIA) on Thursday filed chargesheet against 10 people accused in the “white collar” terror module case. One amongst them, Umar Un Nabi, was killed in the Red Fort blast last Nov. The other nine accused are: Arif Nisar Dar, Yasir Ul Ashraf Bhat, Maqsood Ahmad Dar of Nowgam, Irfan Ahmad Wagay of Shopian, Zameer Ahmad Ahanger of Ganderbal, Muzamil Shakeel Ganaie of Pulwama, Adeel Ahmad Rather of Kulgam, Shaheen Saeed of Lucknow, and Tufail Ahmad Bhat of Batmaloo. All of them were booked at Srinagar’s Nowgam police station. SIA stated, "The case highlights the evolving and sophisticated nature of terror conspiracies, including the misuse of professional institutions and digital platforms." The agency said provocative and threatening posters were found pasted across Nowgam on Oct 19, 2025, which were “aimed at spreading fear among the public, disturbing public order, and directly challenging the sovereignty and territorial integrity of India.” The campaign was part of a larger, well-orchestrated terrorist conspiracy aimed at reviving the banned terrorist outfit Ansar Ghazwat-ul-Hind, it said. The accused persons had formed a highly clandestine module, and actively engaged in radicalisation, recruitment, and operational preparations for carrying out terrorist attacks across the country. They were actively disseminating extremist propaganda through digital platforms and had undertaken procurement of materials and experimental activities related to explosive fabrication, including within residential premises and facilities linked to Al-Falah University. The SIA said through a comprehensive, evidence-driven investigation, it has had successfully dismantled the entire terrorist network and its support structure.…

5. FIU-IND joins SEBI, PFRDA to boost financial surveillance, curb money laundering

FIU-IND joins SEBI, PFRDA to boost financial surveillance, curb money laundering

FIU-IND joins SEBI, PFRDA to boost financial surveillance, curb money laundering - Regulators - 2 min read FIU-IND joins SEBI, PFRDA to boost financial surveillance, curb money laundering To curb money laundering and financial crimes, the Financial Intelligence Unit-India (FIU-IND) has signed two separate memorandums of understanding (MoUs) with the Securities and Exchange Board of India (SEBI) and the Pension Fund Regulatory and Development Authority (PFRDA) to enhance information sharing and inter-agency coordination, the Ministry of Finance said on Thursday. New Delhi, To curb money laundering and financial crimes, the Financial Intelligence Unit-India (FIU-IND) has signed two separate memorandums of understanding (MoUs) with the Securities and Exchange Board of India (SEBI) and the Pension Fund Regulatory and Development Authority (PFRDA) to enhance information sharing and inter-agency coordination, the Ministry of Finance said on Thursday. The agreements mark a step towards strengthening collaborative intelligence-sharing mechanisms among key financial sector regulators to combat money laundering and the financing of terrorism. Under the MoUs, the agencies will share relevant intelligence and information from their respective databases and establish procedures for reporting by regulated entities to FIU-IND in accordance with the Prevention of Money Laundering (PML) Rules, according to the ministry. The collaboration will also facilitate the exchange of information with foreign financial intelligence units in line with the Egmont Principles of Information Exchange. Both SEBI and PFRDA will work with FIU-IND to undertake outreach and training programmes aimed at enhancing Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) capabilities among regulated entities. According to the government, the cooperation framework includes…

1. The State of Kerala vs. K.A. Abdul Rasheed (15.04.2026 - SC)(MANU/SC/0355/2026)

The Supreme Court of India addressed the appeal by the State of Kerala against the acquittal of K.A. Abdul Rasheed by the High Court in a corruption case under Sections 7 and 13(1)(d) of the Preventio

2. Canara Bank vs. Kavita Chowdhary (15.04.2026 - SC)(MANU/SC/0358/2026)

The Supreme Court of India addressed the issue of whether Canara Bank was deficient in service by failing to present two cheques for clearing within their validity period, resulting in financial loss

3. R. Sood vs. Union of India (UOI) and Ors. (15.04.2026 - SC)(MANU/SC/0357/2026)

The Supreme Court of India addressed the legality of the dismissal of R. Sood, a former Indian Air Force officer, by the Union of India. The core issue was whether administrative action could be initi

4. Milind and Ors. vs. The State of Maharashtra (10.04.2026 - SC)(MANU/SC/0351/2026)

The Supreme Court of India addressed the appeal by Milind and others against the State of Maharashtra, focusing on whether the appellants could benefit from the Probation of Offenders Act, 1958, after

5. Dhananjay Rathi vs. Ruchika Rathi (13.04.2026 - SC)(MANU/SC/0354/2026)

The Supreme Court of India addressed the appeal by Dhananjay Rathi against Ruchika Rathi, focusing on whether proceedings under the Domestic Violence Act should be quashed and if a mediated settlement

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