S&R Associates is an Indian law firm with offices in New Delhi and Mumbai providing legal services to Indian and international clients.
Our lawyers are admitted to practice in India and many have previously practiced law in other jurisdictions, including in the United States, the United Kingdom and Singapore. As a result, we offer our clients a unique combination of Indian law expertise coupled with international quality legal services.
We distinguish ourselves based on the quality of our services and legal advice and on the range of our experience. Our lawyers have advised on some of the most significant Indian transactions and matters in recent times. The quality of our legal advice and services has helped us become the law firm of choice for our clients and has also been recognised by various industry publications, surveys and rankings. Lawyers in each of our practice areas have routinely been recognised as leading lawyers in India by Chambers Global, Chambers Asia Pacific, IFLR1000, Legal500 and RSG India Report.
Back to the Future: India’s Proposed Digital Governance Framework
A first draft of the proposed Digital India Act (“DIA”) may be ready by June for public review, while a corresponding bill may be introduced before parliament soon thereafter, pursuant to industry feedback. Meanwhile, further to consultations between the Ministry of Electronics and Information Technology and select stakeholders across Bengaluru, New Delhi, and Mumbai in March and May 2023, the following principles appear likely to define the main thrust of the new law: (1) an open internet, (2) online safety, (3) a revised intermediary framework, (4) the regulation of new technologies, (5) non-personal data sharing, and (6) limited (or no) safe harbor.
This note, the third of S&R Data+ – a multipart series on data governance focused on personal and non-personal information – discusses these principles with respect to the DIA.
S&R Associates Announces New Counsel
We are pleased to announce that Meher Mehta and Oishika Dasgupta have been designated as counsel at S&R Associates.
SEBI Modifies Underwriting Framework for Public Issues
On May 23, 2023, the Securities and Exchange Board of India amended the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 to effect changes to the underwriting framework applicable to public offerings. Essentially, the SEBI amendment mandates that if an issuer making a public offering through the book-built route desires to have the offering underwritten to cover any under-subscription (referred to as hard underwriting), it is required to enter into an underwriting agreement with the underwriters upfront and prior to filing the red herring prospectus and make necessary disclosures of the underwriters’ commitment in the RHP. This note discusses the key changes made by SEBI to the regulations governing hard underwriting in book-built public offerings in India.