Articles

Widening the gate of Indian Economy: Key changes under the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026

The Ministry of Finance (Department of Economic Affairs) on 12 June 2026, notified the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026 (‘Amendment Rules’), amending the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (‘NDI Rules’). The Amendment Rules constitute the third amendment in the FEMA liberalisation cycle for the year 2026, following the first and second amendments, which respectively relaxed restrictions on investments from countries sharing a land border with India and liberalised foreign investment in the insurance sector opening the sector up till 100% under automatic route. The third amendment is yet another attempt to widen the gate for the Indian economy. For years, access to India's listed securities market was reserved specially for a defined class amongst which are foreign portfolio investors (FPIs) and non-resident Indians (NRIs) and overseas citizens of India (OCIs), this time the liberalisation is into the Indian capital markets.

Aman Gupta04 Aug 2026

International Trade and WTO Metals

EU’s 2026 Steel TRQ Regulation: From temporary safeguards to permanent industrial policy?

The 2026 Steel import Regulation of the European Union (EU) (‘2026 Regulation’),[1] which came into force on 1 July 2026, is not simply a continuation of earlier Steel Safeguard measures[2] applicable since 2018, but it indicates a decisive shift in the EU’s approach to regulate its steel imports in the coming years. With lowering of tariff-rate quotas (TRQs), higher out-of-quota duties and proposal for stricter origin requirements, the 2026 Regulation goes beyond the WTO’s temporary safeguard regime to a more permanent industrial policy governing steel imports into the EU. In particular, the 2026 Regulation reduces the EU's tariff-free steel quota by ~47%, doubles the out-of-quota duty from 25% to 50%, and introduces a new ‘melt and pour’ traceability requirement.

10 Jul 2026

Commercial Litigation All Industries

Contractual claims for profit: Liability, causation and quantification

The article discusses how contracts can identify and appropriately provision for losses.

07 Jul 2026

Customs FMCG +2

CDSCO’s market interventions and the new compliance framework for pharma and cosmetic operations

This article discusses the key developments driving this shift and their practical implications for industry participants.

07 Jul 2026

GST & Indirect Tax Litigation All Industries

Jurisdiction of Principal Bench of GST Appellate Tribunal: Statutory framework and early judicial signals

Various State Benches of the Goods and Services Tax Appellate Tribunal (‘GSTAT’) have recently become operational, and questions relating to jurisdiction between the Principal Bench and the State Benches have begun to arise in practice. While Section 109 of the CGST Act specifies certain categories of cases to be dealt with exclusively by the Principal Bench, early orders of the Principal Bench indicate that jurisdictional issues are not always straightforward.

Shreyash Agrawal+101 Jul 2026

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General Corporate All Industries
Adjudication of penalties by Registrar of Companies: Scope and its ambit
The article discusses a recent decision of the RoC, NCT, adjudicating penalty for violation under Section 89 (Declaration in respect of Beneficial Interest in any share) and Section 90 (Register of Significant Beneficial Owner in a company). Elaborately analysing the decision and its implications, the authors are of the view that the RoC has taken a stricter approach with respect to compliances...
Noorul Hassan31 Jan 2024
Regulatory IT & ITES
Consent Managers under Digital Personal Data Protection Act – Bridging the gap between Data Principal and Data Fiduciary
The article discusses the measures introduced under the Digital Personal Data Protection Act, 2023 (‘DPDP Act’) to address challenges around management of data principals’ consent. The authors note that it is important for entities offering consent management services to ensure that their activities do not fall within the ambit of data processing.
Prashant Phillips30 Jan 2024
All Practices All Industries
Trade remedial measures in India
Trade remedy measures continue to remain a bulwark for the protection of the domestic industry from unfair imports. With the government’s increasing emphasis on the ‘Make in India’ objective and the Indian economy booming, trade remedy measures retain their importance as an instrument to balance the interests of domestic producers with that of users and importers.
30 Jan 2024
GST Consultancy All Industries
Tax relief on Grants: Not to be taken for grant-ed!
The article notes that given the voluntary and unilateral nature of a grant, there exists ambiguity whether provision of a grant qualifies to be a taxable supply under the GST law, as to qualify as a supply it is essential that a good or service is provided for a consideration. The authors observe that it needs to be examined on case-to-case basis, whether the provision of the grant in a particular arrangement has its strings attached to the service provided and the consideration paid.
Rohini Mukherjee+129 Jan 2024
Intellectual Property All Industries+4
Are ‘trappings of a court’ enough to cloth an order of an authority under Section 2(14) of CPC?
The article discusses a recent Delhi HC decision holding that Letters Patent Appeal is allowed in trademark appeals and that a bar on such intra-court appeals as provided under Section 100A of Civil Procedure Code (CPC), 1908, do not apply to Letters Patent powers of High Courts with regard to trademark disputes as they are saved by virtue of Sections 4 and 104 of CPC.
24 Jan 2024
All Practices All Industries
Tax Amicus: October 2023
The article in this issue of Tax Amicus discusses the recent decision of the Supreme Court wherein the Apex Court has held that the amendments to the Telangana VAT Act, the Gujarat VAT Act and Maharashtra VAT Act, after 1 July 2017 were not correct.
Asish Philip Abraham23 Jan 2024
Direct Tax All Industries
Interplay between foreign taxpayers’ global profits and PE profit attribution
The article discusses the issue of attribution of profits in case of losses at the global level, which has once again gathered spotlight as the Delhi High Court in Hyatt International Southwest Asia Limited has expressed its prima facie disagreement with the decision in Nokia Solutions and has referred the issue to a Larger Bench. Discussing Article 7 of the DTAA and Rule 10 of the Income Tax Rules, the authors state that the LB decision will have a major impact.
Prachi Bhardwaj+222 Jan 2024
Intellectual Property All Industries+4
The vigour that Form-3 carries
The article elaborately discusses a recent decision of the Single Judge of the Delhi High Court, imposing costs of INR 5 lakh on the Plaintiff for having suppressed material facts by way of failing to report that corresponding foreign patents of the suit patent had been invalidated/refused in several foreign jurisdictions.
16 Jan 2024
Intellectual Property All Industries+4
Geographical Indications – Madhya Pradesh High Court elucidates registered proprietor’s rights
In a recent decision dated 18 December 2023 , the Division Bench (Two-Judge Bench) of the Madhya Pradesh High Court, while adjudicating a petition under Article 227 of the Constitution of India, set aside the order dated 28 October 2021 passed by the Commercial District Court, Indore and held that a suit for infringement of Geographical Indication tags is maintainable by the Registered Proprietor of the GI tag, even if the Authorised User of the same GI tag is not impleaded as a party.
16 Jan 2024
Regulatory Telecom & Media
Future of targeted and behavioral advertising in India
The article analyses a recent decision of the CJEU and its implications in the background of the Indian data privacy laws. In this regard, it is pertinent to note that India’s Digital Personal Data Protection Act, 2023 (‘ DPDP Act ’) will be notified soon and companies involved in processing of personal data for targeted advertising may need to revisit and revise their policies to comply with the law.
15 Jan 2024
All Practices All Industries
Plastic Waste Management Rules revised
The article analyses recent amendments in the Plastic Waste Management Rules. According to the authors, the changes represent the Central Government’s acknowledgement of the gaps in the regulatory framework for plastic waste management. The article in this regard discusses changes like clear distinction being drawn between producers and importers, clarity on applicability of EPR Guidelines to export products, and elimination of conflicting interpretations of labelling requirements, etc.
05 Jan 2024
Regulatory Retail and E-commerce
Demystifying the Dark Patterns
Dark Patterns can be referred to as the deceptive web or UI designs or patterns commonly used in web based or mobile based platforms, intended to manipulate, or trick the decision of a consumer by deceiving them to do something that is determinantal to his interest and something that the consumer otherwise would not do, compromising consumer’s autonomy, decision-making power, and his privacy. Some of the widely used dark patterns include subscription trap, false urgency, and click and bait.
Sameer Avasarala+103 Jan 2024

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