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Role of State Governments in India’s Data Protection Regime

Introduction

The Ministry of Electronics & Information Technology (“MeitY”) published a draft of the Digital Personal Data Protection Rules, 2025 (“Draft Rules”), on January 3, 2025. These were formulated under the Digital Personal Data Protection Act, 2023 (“DPDP Act” or “Act”), which was passed by Parliament, and received presidential assent on August 11, 2023. The DPDP Act aims to regulate the processing of personal data, and contains requirements for collection, processing and sharing of personal data.

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Key Highlights of Gujarat GCC Policy (2025-30)

Introduction

India, with its dynamic and skilled youth, has progressively emerged as a global hub for Global Capability Centres (GCCs) established by multinational corporations. GCCs offer numerous strategic advantages, including driving digital transformation, fostering innovation, advancing analytics and technological solutions, promoting research and development, creating employment opportunities, enhancing operational efficiency, and strengthening business resilience. Recognising these benefits, Indian companies are also increasingly adopting the GCC model to fuel their growth. Consequently, several Indian states are crafting policies to attract both domestic and multinational corporations to set up GCCs.

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RPT Disclosure Standards: Regulator’s Ongoing Quest for Balance

Context

The law on related party transactions (“RPTs”) has been evolving since its inclusion in the Companies Act, 2013 (“the Act”), and the introduction of stricter regulations for listed companies by the Securities and Exchange Board of India (“SEBI” or “Regulator”) in the Listing Obligations and Disclosure Requirements Regulations, 2015 (“LODR”). Yet, India Inc. continues to falter in its battle for good governance because of abusive RPTs, inadequate disclosures, and diversion of funds of listed companies to closely held promoter entities through innovative structures and shell entities – exacerbated because promoters own or control 75 per cent of listed entities in India.

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CRISPR, The New Gold Standard? Understanding The Rise Of Genetic Enigineering In India – Part 1

Introduction

Advancements in science and technology have made gene-editing and the creation of genetically modified organisms (“GMOs”) a reality. It is now possible to alter and modify the genetic makeup of living organisms, leading to breakthroughs in agriculture and medicine. Such technologies and practices are being widely adopted across the world, including India, where gene editing is being explored primarily in agriculture to develop climate-resistant crops such as BT Cotton, BT Brinjal, GM-Mustard, etc. The global genome editing market, valued at $3.41 billion in 2024, is projected to reach $4.25 billion in 2025 and $13.36 billion by 2035, representing a CAGR of 12.1% during the forecast period[1].

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Pro-rata and Pari-Passu Rights: Regulating the Differential Rights for AIF Investors

The Securities and Exchange Board of India (“SEBI”) through its circular dated December 13, 2024 (“Circular”), along with Implementation Standards issued by the Standard Setting Forum for AIFs (“SFA”), introduced guidelines to ensure fair and equitable treatment of investors in alternative investment funds (“AIFs”), making pro-rata and pari passu rights an essential feature of AIF structures.

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Background

Section 58(2) of the Companies Act, 2013 (“Act”), read along with its proviso, lays down that while the shares of a public company are freely transferable, any contract or arrangement entered into between two or more persons for the transfer of securities shall be enforceable as a contract.

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SEBI’s New KPI Standards for IPOs: Key Takeaways

The Securities and Exchange Board of India (“SEBI”) issued a circular announcing the adoption of the Industry Standards on KPI Disclosures in the Draft Offer Document and Offer Document (“KPI Standards”) on February 28, 2025, which shall be applicable to all IPO draft offer documents/offer documents filed on or after April 1, 2025.

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Latest Reforms in Real Estate CIRP: Strengthening the position of Homebuyers

The Insolvency and Bankruptcy Board of India (“IBBI”) has recently notified several key amendments[1] in the CIRP Regulations[2], which aim to further streamline CIRPs[3] with special focus on real estate (RE) projects. These amendments give a formal effect to the recommendations/ suggestions that were proposed in the IBBI’s discussion paper, dated November 7, 2024, with an aim to enhance transparency, efficiency, and inclusivity of homebuyers in light of the unique challenges that arise in the CIRP of a RE entity.

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Double Check: Decoding India’s Dual Framework for Medical Device Labelling

Introduction

The medical devices sector in India is undergoing rapid transformation, driven by evolving regulations, technological advancements and growing healthcare demands. It is expected to grow to $20.51 billion by 2029. The demand for imported medical devices increased by 21% between November 2022 and October 2023, totalling medical device imports of INR 61,262.84 crore ($7.23 billion)[1]. The regulatory ambit governing medical devices in the country has seen significant reforms aimed at ensuring safety, quality and accessibility. For healthcare products, where precision and reliability are vital, stringent labelling regulations serve as a cornerstone for ensuring safety, quality, and consumer confidence. The regulatory framework for labelling of medical devices in India is governed by multiple legislative frameworks, each designed to uphold stringent standards.

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The Doctrine of Vicarious Liability of Auditors: Delhi HC Judgment in Deloitte v. Union of India

Background

India’s evolving financial reporting system has made robust corporate governance mechanisms indispensable. The need for heightened financial reporting mechanisms was first felt after the country was rocked by multiple corporate scandals, specifically 2009’s Satyam Computer scam. The scam exposed numerous auditing-related issues, namely, the manipulative practices of auditors, inadequacy of regulatory oversight in accounting and auditing standards, and the importance of accountability of the professional conduct of auditors. It also raised crucial questions related to the independence and effectiveness of auditors. Against this backdrop, there was a reverberating demand for stronger institutional frameworks to regulate and supervise accounting and auditing standards in the country. It became imperative to set up an autonomous body for financial reporting to attract foreign investment and elevate public confidence in the financials of investee companies, leading to the establishment of the National Financial Reporting Authority (“NFRA”).

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