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Extra - territorial operation of India’s corporate laws

Summary: This article examines certain provisions in India’s key commercial laws, including the Companies Act 2013, Competition Act 2002, and SEBI regulations, analyzing how these laws extend beyond India’s territorial boundaries. While analysing the constitutional permissibility of such provisions, the article highlights potential challenges including jurisdictional overreach and compliance conflicts for multinational corporations.

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Calcutta High Court Clarifies Scope of Appeals in Trademark Matters: Exploring the theory of ‘trappings of court’ vis-à-vis Registrar’s office

Summary: In a significant ruling that clarifies the appellate framework under the Trade Marks Act, 1999 ( “the Act”), and Trade Marks Rules, 2017 ( “the Rules”), the  Division Bench of the Calcutta High Court (“Hon’ble Division Bench”) has held that a Letters Patent Appeal is not maintainable against an order passed by a Single Judge in an appeal under Section 91 of the Act. The judgment in Glorious Investment Limited vs. Dunlop International Limited & Anr., TEMPAPO-IPD 5 of 2025, provides crucial insights into the legislative intent behind the current trademark regime, the nature of quasi-judicial authorities under the Act, as well as the applicability of Section 100A of the Code of Civil Procedure (“CPC”).

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Summary: This blog explains how the reforms simplify land conversion, clarify kharab land ownership, and introduce digital and procedural transparency. By balancing development with protection of agricultural and public lands, the Amendment modernises Karnataka’s land administration system. This blog provides an overview of how these changes might reduce red tape, prevent misuse, and promote sustainable growth, making it a crucial step towards efficient, transparent, and technology driven land management in the state. 

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Enabling Differential Distribution for Alternative Investment Funds in IFSC

Summary: The International Financial Services Centres Authority (“IFSCA”) has proposed a new regulatory framework allowing Alternative Investment Funds (“AIFs”) in GIFT IFSC to create multiple unit classes with differential return profiles. The proposal facilitates AIFs with enhanced flexibility to raise capital from investors with varying risk appetites while also enabling blended finance structures that combine commercial, concessional, and philanthropic capital for sustainable investments. IFSCA’s proposed approach offers notably greater flexibility compared to SEBI’s domestic regulations, thereby enabling broader investor participation while maintaining robust investor protection measures.

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Whose Privilege is it anyway?: A critique of the recent Supreme Court Judgment on Attorney-Client Privilege

Summary: In a landmark judgment, the Supreme Court has reinforced the constitutional and statutory foundation of attorney-client privilege. The article offers a deeper dive into the judgment’s implications and its potential impact on legal practice in India.

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Summary: Companies undertaking a reverse flip with an eye on an India IPO may need to navigate a complex web of potentially time-sensitive legal and regulatory issues, which may impact the company’s legal, financial, and compliance frameworks and give founders, investors, and the management lots to consider. If not planned carefully, issues may become bottlenecks or roadblocks during the IPO process. Companies should anticipate Indian regulatory expectations to align moving parts well in advance for a successful and timely IPO.

Continue Reading The Road Home Leads to Dalal Street: Key considerations for IPOs after “reverse flips”
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FIG Paper (No. 52): RBI Directions on Lending Against Gold and Silver Collateral: A Harmonised Regulatory Framework

Summary: The Reserve Bank of India (Lending Against Gold and Silver Collateral) Directions, 2025, notified on June 6, 2025, establishes a unified regulatory framework for lending against gold and silver collateral by all regulated entities and prescribes a deadline of April 1, 2026, for implementation. These directions provide a single principle-based regulation, addressing systemic issues in the gold loan sector whilst introducing enhanced customer protection measures, standardised assaying protocols, and transparent collateral management processes to create a more robust and customer-centric ecosystem. As regulated entities gear up to adopt the necessary changes by the prescribed deadline, this paper summarises the key changes and compliances laid down by the directions while specifying the important aspects that lenders need to focus on.

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FIG Paper No. [51] (VDA Series 7): Stablecoins: Recent Indian and Global Regulatory Trends

Introduction

The global stablecoin market capitalisation has crossed USD 230 billion in 2025, representing a growth trajectory that can position stablecoins as critical financial instruments that enterprises can leverage in emerging digital payment corridors and enhance operational competitiveness in global markets.

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The Draft AI Rules: A Welcome First Step

Summary: In a move to regulate deepfake, fake news and other misinformation, the Ministry of Electronics and Information Technology has proposed draft rules seeking to amend the existing intermediary guidelines. They propose a wide definition of “synthetically generated information” without meaningful and practical standards on authenticity thresholds. Combined with this, it provides for prescriptive labelling norms that may leave little to no flexibility for intermediaries and additionally seeks to impose onerous user verification related obligations for significant social media intermediaries without any brightline standards. While the objective of the proposed regulations, rooted in user safety, is laudable, the draft in its current form can have wide reaching implications on how the overall AI ecosystem develops in India. As the devil lies in the details, it would be prudent to revisit the proposed rules and account for practical considerations, thresholds, and standards that will contribute to effective implementation. The draft rules are open for stakeholder consultation until November 6, 2025, and offer an opportunity to engage with the government for shaping the balance between innovation and user safety.

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