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Summary: Whole genome sequencing has rapidly transitioned from a research tool to a routine diagnostic offering in India, now available through accredited laboratory chains and direct-to-consumer testing kits alike. Yet India lacks a single, dedicated law governing genomic testing; instead, existing frameworks for laboratory accreditation, clinical establishments, and medical devices reach WGS only incidentally, leaving significant gaps around informed consent, genetic counselling, and long-term data protection. A comparative look at the United Kingdom and the United States reveals more structured, albeit still evolving, approaches to regulating genetic diagnostics and consumer genomics. This blog examines the current Indian regulatory patchwork and makes the case for a purpose-built governance framework that addresses the unique, far-reaching implications of genomic information.

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Dematerialisation for Foreign Shareholders: A Regulatory Gap Hiding in Plain Sight

Summary: Private companies in India are required to dematerialise their securities, but the existing demat onboarding process appears to be designed for Indian shareholders only. There is no proper onboarding guidance for foreign body corporates, leaving registrars and share transfer agents (“RTAs”) and depository participants to devise their own, often inconsistent, documentation standards and processes. The result is unnecessary delays, extended timelines, and avoidable uncertainty in cross-border transactions.

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Purpose is No Defence: Supreme Court’s ruling and the Roadmap for Insider Trading Compliance

Summary: By affirming that insider-trading liability under the 2015 PIT Regulations turns on possession of information and not the purpose behind the trade, the Court has shut the door on ‘legitimate reason’ defences that SAT and earlier precedents had left ajar. Designated persons, compliance officers, listed companies and sponsors must now carefully navigate next steps to avoid breaches and regulatory scrutiny.

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Patchwork of Legal Classification: How Transdermal Patches reveal the fault lines in India’s Drug–Cosmetic Divide

Summary: This article explores the regulatory challenges surrounding acne and transdermal patches in India. An acne patch that promises to “reduce a blemish overnight” and a nicotine patch that delivers a measured dose through the skin look worlds apart. Yet under Indian law, both sit on the same unresolved line. Their classification determines whether a company needs only a cosmetic registration or a full drug license backed by clinical data, with any misclassification carrying serious risks.

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RBI Fraud Master Directions: From 2016 Directions To 2024 Overhaul And The Evolving Jurisprudence

Summary: This blog traces the regulatory and judicial evolution of fraud classification by banks. It provides an overview of the 2016 Fraud Directions, the Supreme Court’s ruling in Rajesh Agarwal, reading natural justice into the 2016 Directions, and summarises the key changes introduced by the 2024 Directions. It also analyses the Supreme Court’s ruling in Amit Iron, which clarifies Rajesh Agarwal and settles the procedure banks must follow in classifying an account as fraud, including that banks need not necessarily grant an opportunity of oral hearing to borrowers, but must ordinarily furnish the complete forensic audit report, giving borrowers an opportunity to be heard before the serious consequences of a fraud classification take effect.

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Rule 9B in Action: Practical Enforcement of Dematerialisation Requirements in Private Companies

Summary: This article examines a recent adjudication order passed by the Registrar of Companies, Bangalore against a private company for effecting a transfer of shares without prior dematerialisation i.e., in contravention of Rule 9B of the Companies (Prospectus and Allotment of Securities) Rules, 2014. It analyses the governing framework under Rules 9A and 9B, the factual circumstances of the non-compliance, and the penalty imposed under Section 450 of the Companies Act, 2013. The article highlights key observations from the order, including the regulator’s silence on the validity of the impugned transfer and the limited scope of adjudication, and considers the broader implications of the same.

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Summary: This article examines the legal framework in India relevant to misuse of corporate opportunities by directors and its implications for investors pursuing multiple opportunities. It also discusses reforms needed in Indian law and use of transaction documents to strengthen compliance and prevent misuse.

Continue Reading The Fine Road Between Opportunity And Compliance: India’s Corporate Opportunity Doctrine
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Building the Missing Middle Piece: The Case for Micro-Hospitals in India

Summary: India’s healthcare delivery has long been shaped by two extremes: small clinics offering basic consultation and large corporate hospitals delivering advanced tertiary care. Micro-hospitals, typically comprising 15 to 75 beds, have emerged as the “missing middle”, combining lean infrastructure, digital diagnostics, and a sharper focus on patient experience. This blog examines the rationale for the micro-hospital model, its operational and economic advantages, and the extensive regulatory framework that governs hospital establishments of any size in India today.

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Scaling India’s Drone Ecosystem

Summary: India’s drone sector is pivoting from an assembly-led model to an innovation-led ecosystem. While drone import prohibitions did not completely restrict assembly of imported components, evolving regulations and policies increasingly favour indigenous design, IP ownership and domestic manufacturing. This blog analyses the impact of the proposed Defence Acquisition Procedure 2026, investor expectations and localisation requirements, which point towards a future where companies that own technology, build resilient supply chains and manufacture will be best positioned for growth.

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FIG Paper No. 62 (VDA Series 12): Regulating Virtual Digital Assets: Global Trends and India’s Emergent Supervisory Architecture

Summary: India’s approach to regulating virtual digital assets (VDA) is evolving from fragmented enforcement towards a structured supervisory framework. This aligns with global trends in the US, UK and EU, of adopting activity-based regimes focused on governance, disclosure, consumer protection and stablecoin oversight. In India, parliamentary consultations, enhanced tax reporting, and increased enforcement actions signal a maturing regulatory outlook. The FIG Paper provides guidance to VDA businesses on navigating India’s current supervisory and enforcement developments whilst preparing for future regulation.

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