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
The Finance Minister of India presented the Union Budget for the financial year 2024-25 (Budget) on 23 June 2024. The Budget, particularly, focuses on employment, skilling, MSMEs, and the middle class along with all-around prosperity. Some key highlights of the Budget are: India’s real GDP grew by 8.2% in FY
On 16 April 2024, the Indian Ministry of Finance amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (NDI Rules) revising the permissible limit of foreign direct investment (FDI) in the space sector effective the date of the notification i.e. 16 April 2024. Under the amended FDI policy, 100% FDI
The Indian Government has today notified The Foreign Exchange Management (Non debt Instruments) Amendment Rules, 2024 (Amendment Rules) prescribing provisions pertaining to direct listing of shares of Indian companies on the stock exchanges outside India. The Amendment Rules have come into force from today when these have been published in
In December 2023, 3 new Criminal Legislations, namely the Bharatiya Nyaya Sanhita, 2023, the Bharatiya Nagarik Suraksha Sanhita, 2023, and the Bharatiya Sakshya Adhiniyam, 2023 replaced the Indian Penal Code, 1860 (IPC), Code of Criminal Procedure, 1973 (CrPC), and the Indian Evidence Act, 1872 (Evidence Act), respectively. These 3 new
On 09 August 2023, the Indian Parliament passed the much awaited Digital Personal Data Protection Bill, 2023 (“DPDP Bill“). The DPDP Bill seeks to introduce data protection law with minimum disruption while ensuring necessary change in the way Data Fiduciaries (i.e. persons who determines the purpose and means of processing
On 02 August 2023, the Indian Parliament passed the Jan Vishwas (Amendment of Provisions) Bill, 2023 (Bill), which proposes to amend and/ or decriminalise 183 provisions in 42 Central Acts administered by 19 different Ministries/ Departments, with the aim of boosting the ease of doing business as well as ease
On 6 April 2023, the Indian Ministry of Electronics and Information Technology (MeitY) notified the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2023 (Amendment Rules), primarily for online real money games, to amend the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (IT
Below are certain legal and regulatory developments in India, during 2022, which provide a snapshot on the pace with which the Government of India (GoI) is bringing in reforms to contribute to a strong and robust economy: The Ministry of Corporate Affairs, GoI (MCA): notified amendments to the Limited Liability
The Finance Minister of India, Mrs. Nirmala Sitharaman, presented the Union Budget for the financial year 2023-24 on 1 February 2023 (Budget), which draws the blueprint for India @100, presenting a vision for ‘Amrit Kaal’ (the best and the most auspicious time), for an empowered and inclusive economy for a prosperous India.
The Government of India in consultation with the Reserve Bank Of India (RBI) on 22 August 2022 notified the Foreign Exchange Management (Overseas Investment) Rules, 2022 (Overseas Investment Rules) and Foreign Exchange Management (Overseas Investment) Regulations, 2022 (Overseas Investment Regulations) in supersession of Foreign Exchange Management (Transfer or Issue of
The Securities and Exchange Board of India (SEBI) issued a circular on 24 July 2017 (Circular) which requires that all new applications for registration of real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) be mandatorily and exclusively registered on the SEBI intermediary portal i.e. https://siportal.sebi.gov.in (Portal).
The Ministry of Corporate Affairs of the Government of India vide a notification on 5 July 2017 that was published in the Official Gazette of India on 6 July 2017 (Notification) amended Schedule IV of the Companies Act, 2013 which sets out the ‘Code for Independent Directors’ (Code).
Pursuant to the Notification, inter-alia, the following key changes have been made to the Code
Less than a month after the Foreign Investment Promotion Board (FIPB) published an office memorandum setting out the roadmap for the post-FIPB abolishment period, the Department of Industrial Policy and Promotion (DIPP) of the Ministry of Commerce and Industry has on 29 June 2017 published a standard operating procedure (SOP) for processing foreign direct investment (FDI) proposals in India.
The Ministry of Corporate Affairs of the Government of India by way of a notification in the Official Gazette on 29 June 2017 exempted every person or enterprise that is a party to a combination under section 5 of the Competition Act, 2002 (Act) from providing a mandatory notice to the Competition Commission of India (CCI) within 30 (thirty) days of either approval of the proposal relating to merger or amalgamation set out in section 5 (c) of the Act by the board of directors of the merging or amalgamating enterprise, or execution of any agreement or document for acquisition referred to in section 5 (a) of the Act or of acquiring control referred to in section 5 (b) of the same for a period of 5 years commencing from 29 June 2017 onwards (Exemption Notification).
The Government of India recently notified the Rights of Persons with Disabilities Rules, 2017 (Rules) in the Official Gazette. The Rules are issued under the Rights of Persons with Disabilities Act, 2016 (Act), and were enacted to give effect to the United Nations Convention on the Rights of Persons with Disabilities and for related matters.
The Act and the Rules are applicable to every establishment including Government establishments and private establishments.
The Foreign Investment Promotion Board (FIPB) Section of the Department of Economic Affairs (DoEA) of the Government of India’s (GoI) Union Ministry of Finance (MoF) published an office memorandum dated 5 June 2017 (OM) setting out the roadmap in relation to the post-FIPB abolishment period.
Continuing its stance of promoting ‘maximum governance and minimum government’, the Union Cabinet of the Government of India chaired by Prime Minister Narendra Modi on 24 May 2017 gave its approval for phasing out the Foreign Investment Promotion Board (FIPB) and empowered individual government ministries/ departments to process applications for foreign direct investment (FDI) requiring government approval. A press release was issued on 24 May 2017 itself by the Press Information Bureau of the Government of India (Press Release) in this regard.
The Government of India (GOI) amended the Banking Regulation Act, 1949 (Act) vide a notification in the Official Gazette on 4 May 2017 by means of a presidential ordinance (Amendment Ordinance). The Amendment Ordinance has given the Reserve Bank of India (RBI) powers to tackle bad loans by issuing directions to any banking company to initiate insolvency proceedings for any default in debts, and also for issuing directions to banking companies for resolution of stressed assets.
The Ministry of Housing and Urban Poverty Alleviation on 19 April 2017 notified in the Official Gazette of India, the remaining sections (i.e. 3-19, section 40, sections 59-70 and sections 79-80) of the Real Estate (Regulation and Development) Act, 2016 (Act) with effect from 1 May 2017 thereby protecting the interests of real estate buyers in India.
The Act aims to promote transparency and accountability in the real estate sector and provides for an adjudicating mechanism for speedy dispute redressal in the form of the Real Estate Regulatory Authority (RERA) (as adopted by various States), with appeals from decisions, directions or orders of the RERA and/ or the adjudicating officer being made to the appellate tribunal under the Act (Appellate Tribunal).
The Supreme Court of India (SC) on 20 April 2017 in the case of Mahendra Singh Dhoni v. Yerraguntla Shyamsundar and Anr. held that only malicious or deliberate acts, or attempts, undertaken with the intention of outraging the religious beliefs of a class of citizens would be penalized under Section 295A of the Indian Penal Code (IPC).
