On 2 June 2021, the Union Cabinet approved the Model Tenancy Act, 2021 (Act) for circulation to all States for adaptation of the Act by enacting a fresh legislation or to make appropriate amendments in existing rental legislations of States. The Act aims to promote rental housing and balance the
The Finance Minister of India presented the Union Budget for the financial year 2021-2022 on 1 February 2021 (Budget). The Budget is geared towards a hopeful reset of the Indian economy amidst the Covid-19 crisis and seeks to facilitate strategic disinvestment, and bolster several sectors such as infrastructure, roads and
First & foremost, we wish all our readers a very happy & healthy 2021! Below are certain key reforms & legal developments in India during 2020 which we thought would be of interest: On 22 January 2020, the Securities and Exchange Board of India (SEBI) issued a circular to streamline
The Department for Promotion of Industry and Internal Trade (DPIIT) has on 28 October 2020 released the “Consolidated Foreign Direct Investment Policy 2020” (FDI Policy 2020) that has come into effect from 15 October 2020. The FDI Policy 2020 subsumes and supersedes all previous Press Notes/ Press Releases/Clarifications issued prior
The Foreign Contribution (Regulation) Amendment Act, 2020 (FCRA Amendment Act) which has come into force on 29 September 2020 amends the Foreign Contribution (Regulation) Act, 2010 (FCRA) and in order to enhance transparency and accountability in the receipt and utilisation of foreign contribution and facilitate genuine non-governmental organisations or associations
The Indian Parliament has recently passed the Companies (Amendment) Act, 2020 (Amendment Act), which has also been notified, to further amend the Companies Act, 2013 (Act) in another attempt to further decriminalize and rationalize certain offences under the Act, in case of defaults which can be determined objectively and which
The foreign direct investment (FDI) policy earlier permitted investment in the defence sector through the automatic route up to 49% (forty nine percent) and FDI beyond 49% (forty nine percent) through the government (approval) route. However, the press note issued by the Department for Promotion of Industry and Internal Trade,
The 40 Under 40 is a National Award recognizing and celebrating the fortitude of the top legal minds and best talent under the age of 40 years in India, who have shown unprecedented legal acumen, grit, leadership, achievement and dedication in their young career spans, driving the Indian Legal Industry
On 23 July 2020, the Ministry of Consumer Affairs, Food and Public Distribution, Government of India notified the Consumer Protection (E-Commerce) Rules, 2020 (Rules). The objective of the Rules is to regulate the e-commerce goods and services sector and ensure transparency to enable consumers to make informed online purchases from
The Indian Finance Minister presented the Union Budget for the financial year 2026-27 on 1 February 2026 in the Indian Parliament (Budget). The Prime Minister of India has described this Budget as a strong base for India’s high flight towards Developed India of 2047. More than just a plan on
On 21 November 2025, the Government of India vide a press release (Press Release) put into effect the Code on Wages (2019), the Industrial Relations Code (2020), the Code on Social Security (2020), and the Occupational Safety, Health and Working Conditions (OSHWC) Code (2020) (Labour Codes). This historic labour reform
On 14 November 2025, the Indian Government issued four separate notifications (“Notifications”) under the Digital Personal Data Protection Act, 2023 (“DPDP Act”) relating to the newly issued Digital Personal Data Protection Rules, 2025 (“DPDP Rules”), the phased enforcement timeline for the DPDP Act, the formal establishment of the Data Protection
On 24 July 2025, in Hyatt International Southwest Asia Ltd. versus Additional Director of Income Tax, the Supreme Court decided on two important principal issues: Whether the appellant- Hyatt International Southwest Asia Ltd, a tax resident of the UAE has a Permanent Establishment (PE) in India under Article 5(1) of
On 20 May 2025, the Reserve Bank of India (RBI) notified the Payments Regulatory Board Regulations, 2025 (Regulations), under the powers conferred by Sections 3(4) and 38(1)–(2) of the Payment and Settlement Systems Act, 2007 (Act). The Regulations have come into effect on 20 May 2025 and have replaced the
On May 6, 2025, Prime Minister of India Shri Narendra Modi and Prime Minister of United Kingdom Sir Keir Starmer, following three years of intense negotiations, announced the conclusion of the landmark multi-million-pound trade deal (India-UK FTA). This historic and ambitious deal is projected to boost the annual bilateral trade
The Securities and Exchange Board of India (SEBI) issued a circular on 14 February 2025 (RPT Circular) to standardize industry standards to be effective from 1 April 2025, for the minimum information required for Related Party Transaction(s) (RPTs) to be provided to the Audit Committee and Shareholders of all listed
On February 1, 2025, India’s Finance Minister Smt. Nirmala Sitharaman presented the Union Budget for the fiscal year 2025-2026. The Budget emphasizes economic growth, employment generation, Micro, Small and Medium Enterprises (MSME) development, and inclusive progress towards ‘Developed India’. India’s real GDP grew by 6.4% in FY 2024-25, with Agriculture
The Securities and Exchange Board of India (SEBI) introduced the Listing Obligations and Disclosure Requirements (LODR) Regulations in 2015 to enhance transparency and improve corporate governance among listed entities in India. These regulations set forth the obligations of listed companies to disclose material information and ensure compliance with various governance
The Ministry of Corporate Affairs, Government of India and the Competition Commission of India (CCI) have notified certain provisions of the Competition (Amendment) Act, 2023, on merger control along with related Rules and Regulations. A few notified provisions pertain to: the amendments related to regulation of combinations and providing a
A nine-judge bench of the Supreme Court of India (SC) on 24 August 2017 in K S Puttuswamy (Retd) and Anr. v. Union of India and Ors. (Privacy Case) unanimously held that privacy is a fundamental right, and that the ‘right to privacy is an integral part of both life and personal liberty under Article 21’ of the Constitution of India.
The SC also overruled several cases including M P Sharma v. Satish Chandra, District Magistrate, Delhi (1954) SCR 1077 and Kharak Singh v. State of Uttar Pradesh (1964) 1 SCR 332, where the right to privacy was not considered as a fundamental right.
On 15 November 2019, the Central Government notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (FSP Rules). The FSP Rules aim to provide a framework for insolvency and liquidation of systemically important financial service providers (FSPs) other than banks and are currently applicable to non-banking financial companies (NBFCs) with an asset size of INR 500 Crores (approx. USD 70 million) or more, as per a notification issued by the
The President of India on 3 May 2018 gave his assent to the ordinance (Ordinance) amending the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 (Act). By way of background, the Act was enacted with an intention of faster resolution of matters in relation to commercial disputes thereby creating a positive outlook for foreign investors.
The Reserve Bank of India (RBI), through a circular dated 27 April 2018 (Circular) has further liberalized the External Commercial Borrowing (ECB) norms in light of requests received from corporates and other entities. The Circular simplifies ECB norms with a view to provide access of cheaper funds to corporate borrowers to meet their capital requirements.
The Reserve Bank of India (RBI), through a notification dated 20 March 2018, notified the Foreign Exchange Management (Cross Border Merger) Regulations, 2018 (Regulations). The Regulations are intended to facilitate ‘cross border mergers’ i.e., any merger, amalgamation or arrangement between an Indian company and a foreign company in accordance with the Companies (Compromises, Arrangements and Amalgamation) Rules, 2016 (Companies Rules) issued under the Companies Act, 2013.
The Indian Ministry of Finance vide a press release issued on 16 April 2018, has finalised the minimum capital requirements for all such activities falling under ‘Other Financial Services’, and those that are unregulated by any financial sector regulator.
As per the extant Foreign Direct Investment Policy, 2017 (FDI Policy) 100% FDI under the ‘automatic’ route is allowed for financial services activities that are regulated by a financial sector regulator inter-alia the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority of India (IRDA).
The President of India on 28 March 2018 gave his assent to the Payment of Gratuity (Amendment) Act, 2018 (Amendment Act), thereby amending the Payment of Gratuity Act, 1972 (Act) and which was brought into effect on 29 March 2018 through a notification issued by the Ministry of Labour and Employment, Government of India (MoLE). Through the Amendment Act the Indian government aims to revise the gratuity limit for the employees engaged in private sector and public sector undertakings/ autonomous organizations under the government, to be at par with their counterparts employed in the government sector, thus ensuring harmony.
Securities and Exchange Board of India (SEBI), in its board meeting held on 28 March 2018 in Mumbai accepted several recommendations (with and without modifications) given by the Kotak Committee relating to corporate governance. By way of background, the Kotak Committee was constituted under the chairmanship of Mr. Uday Kotak with a view of enhancing standards of corporate governance of listed entities in India. The Kotak Committee had accordingly submitted its report to SEBI on 5 October 2017.
On 1 February 2018, the Indian Finance Minister presented the Union Budget for the financial year 2018 – 2019 (Budget 2018) in the Parliament and consequently the Finance Bill, 2018 has also been introduced in the Lower House for approval. The focus of Budget 2018 was to strengthen sectors such as agriculture, rural development, health, education, employment and infrastructure.
The Union Cabinet has approved amendments to the Foreign Direct Investment (FDI) Policy with an aim to further liberalise the FDI regime in India. The steps have been undertaken as a continuing efforts of Indian Government in ease of doing business and in order to stimulate a more investor-friendly environment for the foreign players which will boost economic growth and create jobs.
