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Judicial Insight
The writ petition was dismissed. The High Court upheld the 4% prepayment charge clause as valid, enforceable, and not in violation of RBI directions or public policy. The MSME benefits could not be extended retrospectively, and the petitioner was estopped from challenging terms it had voluntarily accepted. This case reinforces the principle that contractual obligations voluntarily undertaken by parties cannot be undone unilaterally and that MSME protections under RBI and statutory laws apply prospectively, only from the date of valid registration. The judgment reiterates the judiciary’s consistent approach in upholding freedom of contract, especially in commercial loan agreements between banks and companies.
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Instruction No. 21/2025-Customs, dated 2nd July 2025, issued by the Central Board of Indirect Taxes and Customs (CBIC), mandates a crucial compliance step for all importers dealing in plastic raw materials. The instruction directs that such importers must be registered on the Centralized Extended Producer Responsibility (EPR) Portal for Plastic Packaging, in accordance with the Plastic Waste Management (Amendment) Rules, 2024.
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The Board of Practical Training (Eastern Region), Kolkata, under the Ministry of Education, Department of Higher Education, Government of India, issued an important advisory dated 30th June 2025 (Ref. No.: BOPTER/NATS/TPA/2024-25) aimed at reinforcing accountability and transparency in the operations of training establishments engaging apprentices under the National Apprenticeship Training Scheme (NATS).
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On July 2, 2025, the Reserve Bank of India (RBI) issued a comprehensive regulatory framework titled the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025, via Circular No. RBI/2025-26/64 [Ref: DoR.MCS.REC.38/01.01.001/2025-26]. These Directions will come into effect from January 1, 2026, and apply to all commercial banks (excluding payments banks), co-operative banks, Non-Banking Financial Companies (NBFCs), and All India Financial Institutions.
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The Government of Tamil Nadu, vide G.O. (Ms.) No. 64 dated 18th June 2025, has notified a comprehensive Standard Operating Procedure (SOP) for the effective implementation of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, also known as the POSH Act. This move aligns with India’s obligations under the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW) and the constitutional guarantees of equality, dignity, and protection from sexual harassment
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At its 92nd Meeting held on 24th April 2025, the Drugs Technical Advisory Board (DTAB) recommended a regulatory relaxation for medical device manufacturers regarding sterilization licensing requirements. As per the decision formally released via circular on 24th June 2025, manufacturers licensed under Form MD-3/4 or MD-9/10 are no longer required to obtain a separate loan license for sterilization, provided that the sterilization activity is carried out at a site already licensed under Form MD-3 or MD-9 for such sterilization processes.
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The Ministry of Finance (Department of Revenue), through Notification No. 67/2025 dated 20th June 2025, has exempted certain payments made to IFSC Units from Tax Deduction at Source (TDS) under specific provisions of the Income-tax Act, 1961, effective from 1st July 2025. This exemption is granted under the authority of Section 197A(1F), read with Section 80LA(1A) and (2) of the Act.
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This case highlights the critical importance of procedural adherence in CIRP under IBC. The judgment may have chilling effects on investor confidence and raises concerns regarding the stability of concluded resolutions. It underscores the need for robust procedural checks and timely judicial review to prevent uncertainty in large-scale insolvency cases.
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