Deemed conveyance under MOFA

Deemed Conveyance under the MOFA: The 2025 Amendment and Its Implications under RERA

Under the existing framework, a promoter/developer is obligated to execute a conveyance deed in favor of the co-operative housing society, company, or association of flat purchasers transferring all rights, title, and interest in immovable property comprising of project land, together with the structures erected thereon. In practice, this obligation has been routinely defaulted, withholding legal ownership and thereby undermining title certainty, impeding redevelopment prospects, and depriving flat purchasers of their rights over common areas. The Government of Maharashtra has recently notified the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) (Amendment and Validation) Act, 2025 (“MOFA Amendment 2025”), introducing significant reforms to the statutory framework governing the deemed conveyance mechanism. This note sets out an analytical overview of the deemed conveyance framework under MOFA and assesses the key amendments introduced by the MOFA Amendment 2025, placing particular emphasis on the rights of conveyance in projects registered under RERA.


REITs and InvITs in India

Enhancing Liquidity and Ease of Doing Business for REITs and InvITs in India

Recent changes to the regulatory framework for REITs and InvITs have primarily focused on enhancing the liquidity of REIT/InvIT units and ease of doing business measures. This note provides an overview of such changes during the second half of the financial year 2025-2026.


Key Takeaways from the Supreme Court’s Decision in Amazon.com v. CCI

The Supreme Court has recently set aside a INR 2 billion penalty imposed by the Competition Commission of India (“CCI”) in 2021 upon Amazon for alleged gun-jumping and non-disclosure. This update sets out the key takeaways from the Supreme Court’s judgement, including its prioritization of substance over form in filings with the CCI, and the requirement for the CCI to act within the bounds of the Competition Act as well as comply with the principles of natural justice.


M&A opportunities in the Indian Insurance Sector

M&A Opportunities in the Indian Insurance Sector: FEMA Rules Notified

The Government notified the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2026 (“FEMA NDI Amendment Rules”) on May 2, 2026 to operationalize its earlier decision to amend the Consolidated Foreign Direct Investment Policy of 2020 with respect to the insurance sector. The FEMA NDI Amendment Rules complement the changes proposed under amendments previously made to insurance laws and foreign investment rules related to Indian insurance companies.
This note explores key changes introduced pursuant to the FEMA NDI Amendment Rules and discusses potential effects on the M&A market in the Indian insurance sector – such as the possibility of greater management and operational control by foreign investors andthe extension of the liberalized regime to insurance intermediaries driving inbound foreign investment into technology-led insurance infrastructure and ‘embedded’ insurance ecosystems.


Investing in India - Legal Considerations - 2026 checklist

Investing in India: An Overview of Legal Considerations – 2026 Checklist

Foreign investment continues to play a crucial role in India’s economic growth, with total FDI inflow (since April 2000) crossing USD 1.14 trillion. FDI received during April 2024-March 2025 (the highest in last three financial years) and April-December 2025 represent notable year-on-year increases.
This note examines certain key legal considerations for foreign investors investing in India and highlights recent updates in the legal framework.


Explore the legal framework governing an agreement for sale under RERA, including mandatory clauses, MahaRERA orders, deviation reports, and compliance obligations for promoters.

Agreement for Sale under the Real Estate (Regulation and Development) Act, 2016: Format, Mandatory Clauses, and Legal Implications

This note examines the statutory framework governing agreements for sale under the Real Estate (Regulation and Development) Act, 2016 and the directions issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA). It discusses the prescribed format of the agreement for sale, mandatory and non-negotiable clauses, the requirement to file deviation reports, and the legal and regulatory consequences of non-compliance by promoters. The note highlights the significance of the agreement for sale as a key consumer protection mechanism designed to ensure fairness, transparency, and accountability in real estate transactions.


virtual power purchase agreements

The Regulatory Framework for Virtual Power Purchase Agreements in India

Final guidelines governing Virtual Power Purchase Agreements (“VPPAs”) in India, issued by the Central Electricity Regulatory Commission (“CERC”) in December 2025 further to stakeholder consultation and hearings on draft guidelines published in May 2025, can now be read in conjunction with a detailed statement of reasons dated April 27, 2026 released by the CERC to address comments and questions.

This note summarizes the background and context surrounding the evolving regime on VPPAs in India, analyzes the core elements of the VPPA guidelines and the CERC’s additional clarifications with regard to the regulatory framework, and locates such discussion in the context of related developments on power market integration, including in respect of regulations on the Indian power market and renewable energy certificates.


AIF regulations

Compilation of Regulatory Updates in Relation to AIFs

In the recent past, regulatory bodies have issued a series of circulars, notifications and amendments reshaping the structuring, operation, reporting and compliance framework for alternative investments funds in India. To help sponsors, managers, trustees and investors keep pace with these developments, our Investment Funds Practice has prepared this consolidated compilation of key regulatory updates issued from October 1, 2025 to April 30, 2026.


Agentic AI

Agentic AI: Opportunities, Risks, and Evolving Legal Frameworks

The rise of ‘agentic’ AI marks a significant juncture in the evolution of digital technologies. Unlike earlier generations of AI, agentic systems exhibit a degree of operational independence that approximates human behavior, including other defining features – such as the ability to interface with and act upon external ecosystems, as well as to participate in complex environments comprising other such agents.

The primary regulatory concern stemming from widespread deployment arises from the enhanced decision-making authority of such systems while determining how objectives are achieved. As a result of such autonomy, foundational assumptions concerning control, causation, and responsibility may prove inadequate.

The question of liability presents further difficulty. Established doctrines in tort, contract, and criminal law rely on foreseeability, intent, and proximate causation. However, agentic AI may disrupt such foundations, giving rise to a responsibility gap, where no single actor exercises sufficient control to justify full legal attribution.

For companies, risk mitigation may need to be internally driven, especially in the absence of comprehensive regulation. This may begin with use-case classification and risk-tiering, ensuring that high-impact deployments receive enhanced scrutiny. Enterprise-level AI governance frameworks – incorporating legal, technical, and business perspectives – may also be necessary, along with continuous oversight through auditing and monitoring.

Keywords: (feel free to let me know if you have any other suggestions. The keywords given by me are not researched, they are just phrases I think may be relevant.)


S&R Associates

S&R Associates Announces New Counsel and Principal Associates

We are pleased to announce that M.V. Abhinaya, Ishita Mathur, Ishan Seth and Shwetank Sharma have been designated as Counsel at S&R Associates.
We are also pleased to announce that Mahek Chheda, Prerana De, Ankur Kishanpuria, Mohnish Mathew, Vinayaditya Reddy, Manan Sheth, Taranjeet Singh, Avani Tewari, Kaveri Varma and Riyan Vatcha have been promoted as Principal Associates.