This week in Indian law: The Supreme Court directed that all bail applications must mandatorily disclose criminal antecedents and pending cases. SEBI issued a comprehensive master circular consolidating all Issue of Capital and Disclosure Requirements regulations. The RBI amended CRR and SLR directions for commercial banks. 5 significant legal developments this week across criminal law, arbitration, and financial regulation.
Top story
SC Mandates Criminal Antecedent Disclosure in Bail Applications
Category: criminal-law | Date: 8 February 2026
The Supreme Court directed that all bail applications filed before any court in India must mandatorily disclose the applicant's complete criminal antecedents, including pending cases, prior convictions, and any history of bail violations. The Court observed that concealment of criminal history undermines the judicial process and deprives courts of material information necessary for a fair assessment of bail eligibility. The direction applies to applications for regular bail, anticipatory bail, and interim bail across all criminal courts and tribunals. Courts are now required to verify the disclosed antecedents before granting bail, and non-disclosure or false disclosure may constitute grounds for cancellation of bail.
Why it matters: Defence counsel must now conduct thorough antecedent verification before filing bail applications — any omission risks not only bail cancellation but potential contempt proceedings. Prosecution teams gain a powerful tool to oppose bail where antecedents are suppressed.
Court judgments
SC: Section 29-A Does Not Mandate Auto Substitution of Arbitrator
Date: 9 February 2026
The Supreme Court clarified a significant ambiguity in arbitration practice by holding that expiry of the mandate period under Section 29-A of the Arbitration and Conciliation Act, 1996 does not automatically result in substitution of the arbitrator. The Court held that the statutory provision contemplates court intervention — either for extension of the mandate or for appointment of a substitute arbitrator — and that automatic substitution without court order is impermissible.
Key point: Arbitral tribunals whose mandate has expired under Section 29-A continue until a court orders extension or substitution — parties must apply to the court rather than assuming automatic termination.
Why it matters: Arbitration practitioners and institutional arbitration centres must track mandate periods carefully and file extension applications proactively, as the tribunal does not lose jurisdiction automatically upon expiry.
Regulatory updates
SEBI Issues Master Circular on Issue of Capital and Disclosure
Date: 10 February 2026
The Securities and Exchange Board of India issued a comprehensive master circular consolidating all regulations, circulars, and amendments relating to the Issue of Capital and Disclosure Requirements (ICDR). The master circular provides a unified reference document for IPOs, rights issues, preferential allotments, qualified institutional placements, and other modes of capital issuance. It replaces dozens of prior circulars that had accumulated incremental amendments over several years.
Key point: Capital market participants — including investment bankers, issuer companies, and compliance officers — should update internal manuals and checklists to reference the consolidated master circular.
Why it matters: The consolidation eliminates the need to cross-reference multiple prior circulars, reducing compliance risk from missed amendments and simplifying due diligence for capital issuance transactions.
Country-of-Origin Display Mandatory for E-Commerce
Date: 7 February 2026
New rules now require all e-commerce platforms to display the country of origin prominently on product listings. The requirement applies to all goods sold through online marketplaces and direct-to-consumer e-commerce websites, extending existing labelling norms from physical retail to digital commerce.
Key point: E-commerce operators and sellers must update product listings to include country-of-origin information — non-compliance may attract enforcement action under consumer protection and e-commerce rules.
RBI Amends CRR and SLR Directions for Commercial Banks
Date: 6 February 2026
The Reserve Bank of India amended the Master Directions on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) for scheduled commercial banks. The amendments update computational methodology and reporting requirements for maintaining prescribed reserve ratios.
Key point: Bank treasury and compliance teams must update CRR/SLR computation frameworks in line with the amended directions to ensure continued regulatory compliance.
Looking ahead
- Budget session continues: Parliament to take up discussion on the Finance Bill 2026 and the proposed new Income-Tax Act during the second half of February
- SC Constitution Bench hearings: Several Constitution Bench matters listed for the week of 12-18 February, including pending challenges on environmental clearances
- RBI monetary policy: The next bi-monthly Monetary Policy Committee meeting is expected in early February, with rate decisions likely to impact banking and credit markets
This is the Veritect Weekly Legal Roundup for Week 06 of 2026. For daily updates, visit our legal news page. Subscribe to receive this roundup every Monday morning.
Veritect provides this content for informational purposes and does not constitute legal advice.