SEBI has proposed reforms to simplify the conversion of private listed InvITs into public ones by removing sponsor lock-ins and minimum contribution requirements, easing post-conversion liquidity norms, and aligning disclosure standards with follow-on offers. The changes aim to reduce compliance, attract investors, and foster InvIT market growth.
India’s ambitious climate and clean energy targets are redefining the investment landscape for renewables and electric vehicles. As international and domestic players intensify their focus on these sectors, one of the most critical determinants of project viability is land.While dedicatedrenewable energy (“RE”)parks and/or designated zones with pre-acquired land and transmission infrastructure may help in streamlining project development, developers must still account for project-specific environmental clearances, construction permissions, and proximity to substations or transmission corridors.
With respect to solar and wind energy projects, as well as green hydrogen, significant land, real estate, and related infrastructural resources may be necessary, with site selection being one of the most critical early-stage considerations. Existing land-related challenges in India’s RE and green hydrogen sector involve availability, cost, and access issues, particularly for large-scale deployments, including on account of land conflicts, user restriction and domestic population density.
In general, securing/ acquiring land in India involves a complex matrix of legal, regulatory, and socioeconomic factors, including on account of varying ownership patterns across states, and issues such as fragmented titles, complicated land revenue systems, complex tenancy rights, litigation, and opposition from local communities.For energy companies, ‘clean tech’ and sovereign wealth funds, as well as infrastructure investors, the challenge lies in balancing legal certainty with commercial agility and social license.
The recent announcement by U.S. President Trump regarding a 25% tariff on Indian exports, along with additional penalties linked to India’s continued defence and energy transactions with Russia, has introduced significant uncertainty into bilateral trade relations. The executive order formalizing adjusted reciprocal tariff rates is expected to affect a wide range of countries and Indian export sectors, including gems and jewelry, textiles, marine products, automotive components, electronics, and processed foods. While pharmaceuticals appear exempt for now, broader economic consequences such as currency volatility and pressure on small and medium enterprises are anticipated. The strategic linkage of trade penalties to India’s sovereign procurement decisions raises complex legal questions under World Trade Organization rules and may prompt India to consider both diplomatic and legal avenues for redress. As negotiations toward a bilateral trade agreement continue, India faces the challenge of balancing its geopolitical autonomy with the need to maintain stable access to key export markets.
Issue 2 of 2025 of our Quarterly Newsletter on Environmental Law covers key judicial and regulatory developments between the months of April and June 2025. In respect of judicial updates, Issue 2 includes judgements and orders of the Supreme Court, High Courts and the National Green Tribunal related tointer-aliatree felling in Telangana’s Kancha Gachibowli Forest, waste collection and segregation in Delhi-NCR, unlawful mining in Aravali and ex-post facto Environmental Clearances.
In addition, Issue 2 also tracks regulatory updates related tointer-aliaconstruction waste management, registration on dust pollution control self-assessment portal, methodology for environmental compensation under hazardous waste rules, greenhouse gas emissions intensity target rules and plastic waste management.
We are pleased to present the second issue of S&R’s Quarterly RERA Roundup for the period January to March 2025. This publication provides a curated overview of significant legal developments under the Real Estate (Regulation and Development) Act, 2016 (“RERA”), as reflected in recent judgments and passed by various Real Estate Regulatory Authorities and appellate forums/courts across India.
As the regulatory landscape continues to evolve, these decisions offer valuable insight into the interpretative trends shaping the enforcement of RERA. This edition aims to serve as a practical guide for stakeholders seeking to understand the Act’s application in an increasingly dynamic real estate sector.
This note provides a comprehensive overview of the legal framework and processes guiding the redevelopment of cooperative housing societies in Maharashtra, with particular focus on Mumbai. It covers essential compliances under the Maharashtra Co-operative Societies Act, 1960, special focus on recent judicial orders on aspects of inter alia documentation, stamp duty, and the position of dissenting members, as well as the interplay of regulations like DCPR 2034 and MahaRERA. Offering practical insights for societies, developers, and legal professionals, the note aims to demystify the procedural, contractual, and fiscal challenges in society redevelopment projects.
The rise of Artificial Intelligence (“AI”) and Machine Learning (“ML”) promises both opportunities and risks. To address such risks while leveraging the power of AI/ML for new areas of growth, stakeholders need to remain attentive to an evolving regulatory landscape. Unlike the European Union, India is yet to enact an overarching law on AI. Nevertheless, AI developers, deployers, investors, and other relevant entities in the AI supply chain must stay informed about existing and emergent regulatory initiatives across several industries, sectors, and legal regimes. Given India’s ongoing policy and legislative attempts to govern AI, especially with respect to addressing deployment-related concerns and potential harm, the outcome of such processes is likely to emerge soon, even if in fragmented fashion.
Since AI model training relies heavily on data, India’s fast-developing data protection framework warrants special attention. Balancing compliance with innovation will remain crucial for organizations as they aim to thrive under India’s regulatory ecosystem on digital data and AI.
The note examines foreign direct investment (“FDI”) as a significant driver for economic growth and globalization in India. Despite its growth, the legal regime governing FDI in India remains intricate, posing challenges for foreign investors seeking clarity and ease of doing business. This note delves into India’s FDI regulations, highlighting key issues such as a complex regulatory environment, protracted approval processes, and the challenges posed by sector-specific restrictions.
The note adopts an investor-centric perspective to analyze these barriers and explores how they affect foreign investment decisions. To address these issues, the note proposes certain solutions, including streamlining approval procedures, aligning sector-specific policies with global standards, and providing a clearer legal framework for dispute resolution. The objective of this note is to consider approaches that will enhance India’s appeal as an investment destination and promote sustained economic growth by recommending reforms that streamline the legal framework.
The Business Requirement Document (“BRD”) for consent management released by the Ministry of Electronics and Information Technology (MeitY) on June 6, 2025, provides a technical blueprint for organizations to design and implement a consent management system (“CMS”) in compliance with theDigital Personal Data Protection Act, 2023(“DPDP Act”) and its rules.Pursuant to such framework, organizations can design a CMS that enables them to undertake comprehensive consent lifecycle management in a manner that aligns with the DPDP Act’s emphasis on data minimization, purpose limitation, transparency, and accountability.
This note discusses the BRD, including with respect to the functional and operational aspects of consent management, the roles and responsibilities of various stakeholders, and the implications for organizations building or updating their CMS.
With effect from June 10, 2025, the Securities and Exchange Board of India (“SEBI”) has introduced certain amendments to the definition of unpublished price sensitive information (“UPSI”) under the SEBI (Prohibition of Insider Trading) Regulations, 2015, (“PIT Regulations”). The amendments aim to align the existing definition of UPSI under the PIT Regulations, which sets out an illustrative list of events constituting UPSI, with material events under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This note analyzes the amendments and explains how the expansion of the definition of UPSI will recalibrate compliance obligations for listed companies and their insiders.