The Supreme Court restored a decree, holding that cash payments in money lending transactions cannot be denied for lack of bank evidence when supported by a valid promissory note and oral testimony.

Bank of Baroda has classified the loan accounts of Reliance Communications and Anil Ambani as fraudulent, citing forensic audit findings of irregularities and suspected fund diversion amid ongoing IBC proceedings and regulatory scrutiny.

The Supreme Court Collegium, on 1 September 2025, recommended the appointment of 26 individuals as judges of the Allahabad High Court, including four women and a balanced representation from the Bar and judiciary.

In a judgment pronounced today, the Supreme Court ruled that revisional courts cannot recall summoning orders in Section 138 NI Act cases and clarified that SICA protection cannot shield against cheque dishonour prosecutions.

Bombay High Court held that assignment of stressed loans to operational creditors is unlawful under RBI norms and that CPC compromises cannot validate agreements prohibited by law.

Bombay High Court ruled that an arbitration clause in tax invoices accepted without objection qualifies as a valid arbitration agreement under Section 7, allowing reference to arbitration under Section 11.

NSIC signed MoUs with Axis Bank, IndusInd Bank, Karnataka Bank, AU Small Finance Bank, and Dhanlaxmi Bank on 11 August 2025 under its MSME Credit Facilitation Program. The collaboration is expected to expand financial inclusion, strengthen credit accessibility, and foster growth in the MSME sector.

The RBI announced a major reform in cheque settlement, introducing real-time clearance from October 4, 2025. The new system will reduce settlement to hours through a phased rollout, ensuring faster liquidity and modernizing India’s banking system.

The Bombay High Court ruled that a director of a company under liquidation has no legal standing to challenge recovery actions, and clarified that MSME revival schemes cannot override statutory frameworks under SARFAESI and the IBC.

REEDLAW Legal News Network | 2 August 2025 | Case Citation - REEDLAW 2025 SC 07014 REEDLAW Legal News Network  reports that the...