Listen to this post
Understanding regulatory safeguards for influencer marketing of nutraceuticals in India

Introduction

The last decade witnessed an increasing number of nutraceuticals — in the form of teas, protein powders, or hair-growth gummies — being marketed by influencers and celebrities on social media platforms. The Indian nutraceutical market is experiencing significant growth, mirrored by the meteoric rise in influencer marketing as a potent channel to reach health-conscious consumers. Reports suggest that the Indian nutraceutical market is projected to touch $10.19 billion by 2026. While collaborations between nutraceutical brands and social media influencers offer compelling opportunities for engagement and sales, this intersection operates within a complex and strictly regulated legal environment. Navigating this landscape requires adherence to a multi-layered framework, encompassing inter alia the regulations laid down by the Food Safety and Standards Authority of India (“FSSAI”), the code set out by Advertising Standards Council of India (“ASCI”), and the Consumer Protection Act, 2019 (“CP Act”). In this article, we outline the key regulatory considerations and underscore the necessity of ensuring compliant nutraceutical marketing campaigns in India.

Continue Reading Understanding regulatory safeguards for influencer marketing of nutraceuticals in India
Listen to this post
Ten Years of LODR: The Journey from “Minimum Principles” to “Maximum Prescriptions”

Evolution of LODR

The enactment of the SEBI Act in 1992 (“SEBI Act”), followed by the amendment of Section 21 of the Securities Contracts (Regulation) Act, 1956 (“SCRA”), empowered the Securities and Exchange Board of India (“SEBI) to regulate the process of listing of securities by public companies.

Continue Reading Ten Years of LODR: The Journey from “Minimum Principles” to “Maximum Prescriptions”
Listen to this post
Decoding Patent Infringement: Essential Elements, Equivalents, and Estoppel in Crystal Crop Protection v. Safex Chemicals

The Delhi High Court’s decision in Crystal Crop Protection Limited v. Safex Chemicals India Limited & Ors.[1] offers insights into determining patent infringement, focusing on the essentiality of claimed elements, the application of the Doctrine of Equivalents, and the implications of Prosecution History Estoppel. The judgment highlights the importance of claim construction, and the binding nature of representations made during patent prosecution.

Continue Reading Decoding Patent Infringement: Essential Elements, Equivalents, and Estoppel in Crystal Crop Protection v. Safex Chemicals
Listen to this post
FIG Paper (No. 45 - Series 3) – SEBI Mulls Relaxation of FPI Norms for Investment in Government Bonds

Background

The Foreign Portfolio Investor (“FPI”) regime is a key entry route for foreign investors seeking to invest in Indian stocks and bonds. Currently, FPIs are subject to various know your customer (“KYC”) obligations, including disclosure of group companies and beneficial ownership and stringent monitoring of equity investment limits. Breaches of these trigger penalties and additional disclosure requirements. Our detailed analysis is available here.

Continue Reading FIG Paper (No. 45 – Series 3) – SEBI Mulls Relaxation of FPI Norms for Investment in Government Bonds
Listen to this post

Introduction

Alternative investment funds (“AIF”) being considered an investment avenue for sophisticated investors with high risk-appetite and ticket-size, are subject to certain restraints in their marketing and placement to keep it restricted to the intended investors. The Securities and Exchange Board of India (“SEBI”) (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) define an AIF as[1]a privately pooled investment vehicle which collects funds from investors, whether Indian or foreign, for investing it in accordance with a defined investment policy for the benefit of its investors…”. Regulation 11[2] further provides that an “AIF shall raise funds through private placement by issue of information memorandum or placement memorandum, by whatever name called”. Moreover, it has been provided[3] that no scheme of an AIF shall have more than 1000 investors and where an AIF is set-up as a company, the provisions of the Companies Act, 2013 shall apply.[4]

Continue Reading AIF Marketing in India: What Fund Managers Must Know
Listen to this post
SEBI Order casts - Spotlight on Conflicts of Interest of AIFs 

Introduction

The Securities and Exchange Board of India (“SEBI”), vide its settlement order dated May 06, 2025 (“Order”), has accepted a settlement application filed by the investment manager (“Manager”) of a real estate fund (“Fund”), sponsored by a related sponsor entity (“Sponsor”), for breach of various provisions of the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”)[1], and the SEBI Master Circular for Alternative Investment Funds, dated May 7, 2024 (“Master Circular”)[2], subject to a payment of INR 36 lakh by the Manager on behalf of itself and the Fund. The Settlement Order emanated from a suo-moto application, seeking settlement of issues pertaining to conflict of interest and non-compliances in operations of the Fund.

Continue Reading SEBI Order casts Spotlight on Conflicts of Interest of AIFs 
Listen to this post
FIG Paper (No. 44 - Series 3): RBI Consolidates Directions on Digital Lending: Implications for REs & LSPs

Background:

The Reserve Bank of India (“RBI”) on May 8, 2025, issued the Reserve Bank of India (Digital Lending) Directions, 2025 (“DL Directions”).

The idea of these new directions was to consolidate the various directions and circulars on digital lending by Regulated Entities (“RE”), previously issued by the RBI[1], provide greater clarity on consumer/ customer centric rights from a customer protection point of view and create a repository with the RBI of all digital lending apps/ platforms (“DLA”) provided by REs/ lending service providers (“LSP”).

Continue Reading FIG Paper (No. 44 – Series 3): RBI Consolidates Directions on Digital Lending: Implications for REs & LSPs
Listen to this post
Weather “CROMPTON PEBBLE” and “PEBBLE” are similar or identical?

Crompton Greaves Consumer Electricals Limited’s (Crompton) appeal has been dismissed, upholding the order that restrains Crompton from manufacturing, selling, offering for sale, advertising, directly or indirectly dealing in electric irons under the impugned “PEBBLE” trademark, due to V Guard Industries Limited’s (V Guard) application.

Continue Reading Whether “CROMPTON PEBBLE” and “PEBBLE” are similar or identical?
Listen to this post
Royally Challenged or Legally Sound? Examining Trademark Law through RCB v. Uber India

In the vibrant world of cricket, a sport intricately linked to the country’s cultural tapestry, fan banter — whether between individuals or Corporates — is not merely accepted; it is cherished. Yet, there lies a fine line between good-natured ribbing and the realms of trademark infringement or disparagement. When does humorous exchange tip over into the perilous territory of legal breach? This very question was at the heart of a recent Delhi High Court case, Royal Challengers Sports Private Limited v. Uber India Systems Private Limited & Ors., which saw the popular IPL franchise Royal Challengers Bengaluru (RCB) clashing off-field with ride-hailing giant Uber India.[1]

Continue Reading Royally Challenged or Legally Sound? Examining Trademark Law through RCB v. Uber India
Listen to this post
AIF Distributors and the IFSC Opportunity: What’s Changing in 2025

The International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025 (“New CMI Regulations”), were notified by the International Financial Services Centres (“IFSCA”) on April 11, 2025, in supersession of the erstwhile International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021 (“Old CMI Regulations”), and the IFSCA Circular No. F. No. 817/IFSCA/Distribution/2022-23 titled “Distribution of Capital Market Products and Services under the IFSCA (Capital Market Intermediaries) Regulations, 2021” (“Old Distribution Circular”), dated December 21, 2022.

Continue Reading AIF Distributors and the IFSC Opportunity: What’s Changing in 2025