Category: Insights

Environment (Construction and Demolition) Waste Management Rules

Implementation of the Environment (Construction and Demolition) Waste Management Rules, 2025 by Project Developers

Insights | May 19, 2025 | Practice Area: , , , ,

The Environment (Construction and Demolition) Waste Management Rules, 2025 (“Construction Waste Rules”) have been recently notified as a response to growing concerns about construction dust pollution from projects across India. The Construction Waste Rules set out an integrated framework for waste management as well as utilization by imposing extended producer responsibility aided by a central interface based online monitoring and compliance assessment. This note analyzes certain key provisions in the Construction Waste Rules, especially from the perspective of infrastructure and real estate developers and contractors, including considerations for risk allocation.

Misleading advertisements

Misleading Advertisements: A Cautionary Tale on Advertisement of Consumer Goods and Services

Insights | May 6, 2025 | Practice Area: ,

Misleading advertisements in India have been a growing concern, particularly in sectors like healthcare, pharmaceuticals, food and consumer goods, where exaggerated or false claims can have serious consequences. This note provides an insight into the legal and ethical implications of misleading advertisements in the consumer goods sector and how the Supreme Court has reinforced its directions issued in the case ofIndian Medical Association v. Union of Indiaby actively reviewing submissions by central and state governmental bodies on the actions taken by them to prevent violations of advertising laws in India. The Supreme Court has demanded concrete actions to ensure compliance with advertising laws, signaling a stricter approach towards enforcement. This judicial intervention underscores a new era of consumer protection, where regulatory complacency is no longer tolerated and misleading advertisements face stringent scrutiny.

Real Estate Investment Trusts in India

Regulatory Landscape for SM REITs in India

Insights | May 5, 2025 | Practice Area: , , , ,

In March 2024, the Securities and Exchange Board of India (“SEBI”) amended the SEBI (Real Estate Investment Trusts) Regulations, 2014, to introduce Small and Medium Real Estate Investment Trusts (“SM REITs”), aiming to regulate fractional ownership platforms (“FOPs”) that offer retail investors access to real estate. This move addresses concerns related to investor protection, regulatory gaps, and operational transparency in FOPs. SM REITs are structured as SEBI-registered trusts and are required to comply with specific eligibility, investment, and governance criteria. This note outlines procedures for registration, scheme launches, and investor safeguards intended to enhance investor confidence, market liquidity, and standardized practices in India’s evolving real estate sector.

listing regulations

Recalibrating Compliance: Legal Implications of SEBI’s Revised Listing Regulations for HVDLEs

Insights | April 30, 2025 | Practice Area: ,

The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) provide for the various compliance actions and reporting requirements for entities who have listed equity shares or other specified securities and/or non-convertible securities on the stock exchange. The Securities and Exchange Board of India (“SEBI”) recently amended the Listing Regulations by way of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2025 which has become effective as of March 28, 2025 (“Listing AmendmentRegulations”).
The changes introduced by the Listing Amendment Regulations primarily provide for additional reporting and compliance requirements for companies that have listed only non-convertible securities and qualify as a “high value debt listed entity” under the Listing Regulations. Previously, all high value debt listed entities needed to comply with Chapter V of the Listing Regulations, regardless of whether they had listed equity shares or other specified securities. Pursuant to the Listing Amendment Regulations, a new Chapter VA has been introduced that prescribes additional requirements for those high value debt listed entities that have only listed non-convertible debt securities. Such entities are now required to comply with the provisions of both Chapter V and Chapter VA of the Listing Regulations.

legislative amendment

‘Prior’ CCI Approval of Resolution Plans: A Case for a Legislative Amendment

Insights | April 28, 2025 | Practice Area: , , , , ,

The recent judgment of the Supreme Courtin Independent Sugar Corporation Ltd. v. Girish Sriram Juneja & Ors. has reignited the debate on whether the approval of the Competition Commission of India (“CCI”) must precede the Committee of Creditors (“CoC”) approval in the insolvency process. This note critiques the Court’s strict interpretation of the proviso to Section 31(4) of the Insolvency and Bankruptcy Code, 2016 and supports the dissenting opinion, arguing for a liberal interpretation of the proviso to Section 31(4). The note proposes a legislative amendment to the proviso, proposing that CCI approval be requiredprior to approval of the adjudicating authority(i.e., the NCLT) instead ofprior to CoC approval, to better balance regulatory compliance with efficiency of the insolvency process.

ifsca fund management regulations

Regulatory Updates: IFSCA (Fund Management) Regulations, 2025

Insights | April 7, 2025 | Practice Area: ,

The International Financial Services Centres Authority (“IFSCA”) has introduced the IFSCA (Fund Management) Regulations, 2025 (“FM Regulations 2025”) to further streamline fund management activities in GIFT-IFSC. The FM Regulations 2025 introduce investor-friendly measures, reduced entry barriers, and increased operational flexibility, while also strengthening investor protection. These regulations aim to foster a business-friendly environment, align with global standards, and reinforce GIFT-IFSC’s position as a global financial hub.

Master Direction on Foreign Investment in India

Updated Master Direction on Foreign Investment in India: Clarifications to the Regulatory Framework

Insights | April 3, 2025 | Practice Area: , ,

The Reserve Bank of India recently issued an updated Master Direction on Foreign Investment in India (“Master Direction”) on January 20, 2025 to clarify various aspects in the regulatory framework for inbound investments. The Master Direction provides significant regulatory clarifications on foreign investments in India, particularly in relation to downstream investments, cross-border share swaps, share issuances to non-resident shareholders pursuant to a scheme of merger or amalgamation, and the issue of equity-based employee benefits to directors and employees resident outside India. This note highlights the key clarifications and changes to the regulatory framework brought about by the Master Direction that are intended to provide greater certainty and enhance the ease of doing business for overseas investors in India.

executive compensation

Evaluating the Regulatory Framework Governing Executive Compensation in Listed Companies

Insights | April 2, 2025 | Practice Area: , ,

Executive compensation in listed Indian companies is determined through a three-stage process involving the Nomination and Remuneration Committee (“NRC”), the Board of Directors, and shareholders. The NRC identifies candidates, formulates a remuneration policy, and submits recommendations to the Board. The Board then reviews and approves these recommendations before presenting them to shareholders for a final vote. While shareholders theoretically have the ultimate authority, ambiguities in India’s regulatory framework may weaken its effectiveness. This note examines key issues in executive compensation governance, analyzing relevant regulations and proposing solutions to enhance the framework.

Singapore International Arbitration Centre

Protective Preliminary Orders under the SIAC Rules 2025: Key Strategic Considerations for India-related Disputes

Insights | April 1, 2025 | Practice Area:

The Singapore International Arbitration Centre (“SIAC”) has introduced a critical update to its emergency arbitration mechanism this year. Under the SIAC Rules 2025, parties can now apply to an emergency arbitrator for a provisional ex parte order to prevent a counterparty from frustrating the emergency relief requested. With Indian parties topping the charts in the usage of SIAC emergency arbitration, our note explores the key strategic implications of this development for India-related disputes.

reciprocal tariffs

Reciprocal Tariffs: What Can India Expect?

Insights | March 31, 2025 | Practice Area: ,

The recent announcement of reciprocal tariffs by the U.S. government, aimed at addressing trade imbalances and reinforcing domestic economic security, marks a significant shift in global trade policy. As India remains a key trading partner of the U.S., these tariffs are expected to reshape bilateral trade dynamics and may pose challenges for Indian exporters.
With the U.S. being India’s biggest export market, sectors such as engineering goods, pharmaceuticals, and electronics may face potential disruptions. To mitigate the impact and safeguard economic interests, the Indian government has undertaken strategic measures, including tariff reductions and negotiations for a Bilateral Trade Agreement (BTA).
This note examines the implications of the U.S. reciprocal tariff regime for India, assesses the government’s response, and outlines potential strategies to navigate the evolving trade landscape.