Listen to this post
Winds of Change: MNRE Prioritises Quality and Security with New ALMM Rules

Summary: The Ministry of New and Renewable Energy (MNRE) has ushered in a new era for India’s wind energy sector with its notification on July 31, 2025, which rebrands the Revised List of Models and Manufacturers (RLMM) as the Approved List of Models and Manufacturers (Wind), or ALMM (Wind). Beyond a simple name change, the notification represents a comprehensive policy overhaul designed to address critical issues of quality control, national security, and domestic industrial growth.

Continue Reading Winds of Change: MNRE Prioritises Quality and Security with New ALMM Rules
Listen to this post
FIG Paper No 49: IFSC, GIFT City: A New Legal Frontier for Cross-Border Payments

Summary: This article is crucial for legal, fintech, and business leaders as it unveils how the IFSCA PSP License at IFSC, GIFT City empowers cross-border payment service providers to operate globally from within India. By offering a unified regulatory framework, tax incentives, and foreign exchange flexibility, it positions IFSC as a strategic hub for building scalable, efficient, and globally aligned payment infrastructures.

Continue Reading FIG Paper No 49: IFSC, GIFT City: A New Legal Frontier for Cross-Border Payments
Listen to this post
Investigating Agencies’ Overreach in Summoning Lawyers: SC Intervenes

Summary: This blog examines the legal position regarding legal privilege under Evidence law and discusses instances where enforcement agencies have summoned lawyers, along with the recent observations of the Supreme Court on the subject.

Continue Reading Investigating Agencies’ Overreach in Summoning Lawyers: SC Intervenes
Listen to this post
Reimagining Board Accountability: From Rotational Retirement to RPT Disqualifications

Summary: “The blog proposes targeted amendments in relation to the following: (i) outdated mechanism of rotational retirement under Section 152(6) of the Companies Act, 2013, and (ii) issue relating to the disqualification of the director for RPTs violations, specifically in line with the legal gap created by the decriminalisation of Section 188 of the Companies Act, 2013.”

Continue Reading Reimagining Board Accountability: From Rotational Retirement to RPT Disqualifications
Listen to this post
Unlocking Platform Play at GIFT IFSC: IFSCA’s Move Towards a Liberal Framework

Summary: The IFSCA has introduced a framework for Third-Party Fund Management Services (TFMS) at GIFT IFSC, enabling external fund managers to launch restricted schemes via registered FMEs without establishing a physical presence. While promoting ease of entry and operational flexibility, the model includes safeguards such as a USD 50 million fund cap, enhanced net worth requirements, and mandatory scheme-level governance. Rooted in global best practices, the framework balances innovation with regulatory accountability.

Continue Reading Unlocking Platform Play at GIFT IFSC: IFSCA’s Move Towards a Liberal Framework
Listen to this post
FIG Paper no. 48: Change in Control & Learnings in FIG space

Mergers and acquisitions (M&A) in the banking, financial services, and insurance (BFSI) sector constituted approximately 10% of all M&A activity in India in 2024, exceeding USD 12.1 billion[1] in value, making it the second highest among all sectors. Infrastructure and BFSI are expected to continue driving M&A deal activity in India. Recently, India is seeing several large M&A transactions involving complex structuring, regulatory approvals on account of change in control, bespoke due diligence and documentation considerations and nuanced approach to regulatory interface before and after deal signing to obviate deal failure risks. Basis our recent experience, and change in control provisions applicable to banks, non-banks, payment system operators (PSOs), mutual funds and insurance players, this paper provides an overview of the specific deal and change in control linked regulatory approvals and learnings / considerations relevant from a transaction structuring and deal execution perspective, across each of the BFSI verticals.

Continue Reading FIG Paper no. 48: Change in Control & Learnings in FIG space
Listen to this post
FIG Paper No. 47 (VDA Series 6) – Exploring Synergies between Traditional Finance and Decentralised Finance for India

Introduction

A decade after the emergence of cryptocurrencies, regulatory outlooks from the traditional finance sector (“TradFi”) toward banking activities in the digital assets sector (“DeFi”) have evolved significantly. This shift signifies growing institutional acceptance of digital assets as legitimate financial instruments.

Continue Reading FIG Paper No. 47 (VDA Series 6) – Exploring Synergies between Traditional Finance and Decentralised Finance for India
Listen to this post
CERC’s Guidelines on VPPA Would Accelerate India’s Energy Transition

Summary: This piece examines the scope and key provisions of the Draft VPPA Guidelines, and potential impact on market participants, especially in the context of India’s ambitious energy transition goals.                                                                  

Continue Reading CERC’s Guidelines on VPPA Would Accelerate India’s Energy Transition
Listen to this post

In a key decision, the Karnataka High Court dealt with two connected writ petitions involving leading real estate developers[1], challenging the decision of the stamp and registration authorities in Karnataka. The key issue was whether stamp duty applies to super built-up areas and car parks when the sale deed refers only to an undivided land share. The decision clearly explains the legal position on dual ownership and how stamp duty must be calculated on such documents.

Continue Reading Building Vs. Land: A Tale of Two Owners in Indian Property Law