Former Chief Justice D.Y. Chandrachud launched the PALETTE Centre, a collaborative initiative by BITS Law School and PanScience Innovations, to revolutionise legal systems with AI. He emphasised AI's role in augmenting human intelligence, not replacing it, and advocated for responsible AI implementation with robust governance and ethical frameworks.
S&A Law Offices in India is revolutionizing legal practices by integrating Harvey AI into its core processes. This strategic move enhances efficiency, reduces turnaround times, and lowers operational costs, ultimately boosting client satisfaction. The firm's commitment to innovation and responsible AI adoption positions it as a leader in India's evolving legal landscape.
Ashok P. Hinduja, Chairman, IndusInd International Holdings Limited (IIHL) which is the promoter of IndusInd Bank, went into damage-control mode on Thursday following the announcement of the fraud in the bank that has plunged the lender into a Rs 2, 236 crore loss for the January-March quarter.
A federal judge dismissed Rumble's $2 billion antitrust lawsuit against Google, citing the statute of limitations. Rumble alleged Google rigged search results to favor YouTube and blocked Rumble from pre-installation on Android phones. The judge criticized Rumble's lack of evidence, while Rumble is pursuing a separate lawsuit against Google over digital advertising practices.
India's Insolvency & Bankruptcy Code is yielding improved outcomes, reversing the trend of liquidations with more cases now resolved. This shift is attributed to better asset quality and proactive government oversight. Promoters are increasingly settling dues pre-admission, fearing loss of control.
The Securities and Exchange Board of India (SEBI) is investigating possible violations in the IndusInd Bank case, following the bank's disclosure of suspected fraud and concerns over insider trading, SEBI Chairman Tuhin Kanta Pandey said here on Thursday.
AI is rapidly transforming the Indian legal landscape, impacting areas from compliance to client acquisition. Law firms, startups, and academia are adapting to integrate AI tools for tasks like contract automation and risk analytics. This shift requires addressing ethical concerns, talent gaps, and regulatory challenges to ensure responsible AI adoption within the legal profession.
Managing Director and CEO of the National Stock Exchange of India (NSE) Ashish Kumar Chauhan on Wednesday met the Union Finance Minister and committed to supporting Prime Minister Narendra Modi's Viksit Bharat 2047 vision.
IndusInd Bank has detected a suspected fraud of ₹172.58 crore in its microfinance operations due to misclassified fee income across three quarters in FY24. The board has initiated regulatory reporting and internal accountability measures following investigations. Corrective accounting actions have been taken, and the matter will be reported to regulatory authorities to fix individual accountability.
Paramount Communications Ltd has appointed retired IAS officer Sanjay Kumar Srivastava as an independent director for a five-year term, effective July 1, pending shareholder approval. Anjali Verma was also appointed as an independent director for three years. Narendra Kumar Goyal resigned due to health reasons, leading to a board reshuffle and reconstitution of key committees.
IndusInd Bank's board suspects employee involvement in derivatives, microfinance, and balance sheet irregularities, prompting a report to investigative agencies. Internal audits revealed unsubstantiated balances and incorrect interest recording in the microfinance portfolio. The bank has accounted for discrepancies while finalizing financial results, and a committee oversees operations following CEO and Deputy CEO resignations.
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