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Securities LawAll Industries

Manager’s/Sponsor’s obligation to maintain minimum continuing interest – Obstacles to compliance with SEBI’s requirements

In the months of July, August and October, SEBI passed a few settlement orders with respect to alleged violations of SEBI regulations relating to the obligation of the Manager or the Sponsor of the AIF. The article reviews one of such settlement orders passed by SEBI and discusses the various obstacles faced by AIFs and their Managers and Sponsors in complying with SEBI’s regulations for a minimum commitment by the Sponsor or the Manager of an AIF.

Vinod Joseph+330 Oct 2026

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  • International Trade and WTOMetals

    CJEU invalidates Non-Preferential Rules of Origin – A ray of hope for Indian exporters of seamless stainless-steel pipes and tubes to EU

    The article focuses on the implication of the recent judgement of the CJEU relating to the Non-Preferential Rules of Origin wherein the EU's Court has held that the primary rule for CTSH 7304 41 under the Rules of Origin is invalid to the extent it excludes the cold rolled processing performed on hot-rolled tubes or mother pipes classifiable under CTSH 7304 49. According to the author, as the EU market opens, this will give a significant boost to Indian exports from this sector

    Gopakrushna Das05 Dec 2023
  • All PracticesAll Industries

    The equivocal nature of the advisory regarding Input Tax Credit (ITC) reversal under Rule 37(A)

    The article discusses the conflicting nature of a recent Advisory issued by the GSTN in respect of ITC reversal on account of new CGST Rule 37(A). The authors in this regard discuss various ambiguities surrounding this Advisory, like the period to be considered for computation of amount of ITC to be reversed, whether data of GSTR 2A or GSTR 2B is to be considered, etc. According to them, there is a requirement of detailed guidelines.

    04 Dec 2023
  • All PracticesAll Industries

    The bittersweet classification of Flavoured Milk (5)

    Classification of goods under the correct tariff item is the first and the most litigative issue in any tax jurisdiction. The article hence analyses the implications of a Madras HC decision which has held that flavored milk is classifiable under Heading 0402 and not under Heading 2202 covering beverage containing milk. Deliberating on the reasoning of the High Court and the relevance of this decision, the authors highlight various issues which need to be understood by the industry.

    30 Nov 2023
  • All PracticesAll Industries

    The bittersweet classification of Flavoured Milk (4)

    Classification of goods under the correct tariff item is the first, and arguably, most litigative issue in any tax jurisdiction. The article hence analyses the implications of a recent Madras High Court decision which has held that flavored milk is classifiable under Heading 0402 and not under Heading 2202 covering beverage containing milk. Deliberating on the Court’s reasoning and the relevance of this decision, the authors highlight various issues which need to be understood by the industry.

    29 Nov 2023
  • All PracticesAll Industries

    The bittersweet classification of Flavoured Milk (3)

    Classification has always been one of the most interesting as well most litigative issue in any tax jurisdiction. Classifying goods under the correct tariff item is the first, and arguably, most important step for a taxpayer as apart from determination of the applicable rate of tax, it can be used as a tool for unnecessary harassment by the tax authorities.

    29 Nov 2023
  • All PracticesAll Industries

    The bittersweet classification of Flavoured Milk (2)

    Classification has always been one of the most interesting as well most litigative issue in any tax jurisdiction. Classifying goods under the correct tariff item is the first, and arguably, most important step for a taxpayer as apart from determination of the applicable rate of tax, it can be used as a tool for unnecessary harassment by the tax authorities.

    29 Nov 2023
  • All PracticesAll Industries

    The bittersweet classification of Flavoured Milk (1)

    Classification has always been one of the most interesting as well most litigative issue in any tax jurisdiction. Classifying goods under the correct tariff item is the first, and arguably, most important step for a taxpayer as apart from determination of the applicable rate of tax, it can be used as a tool for unnecessary harassment by the tax authorities.

    29 Nov 2023
  • ClassificationFMCG

    The bittersweet classification of Flavoured Milk

    Classification has always been one of the most interesting as well most litigative issue in any tax jurisdiction. Classifying goods under the correct tariff item is the first, and arguably, most important step for a taxpayer as apart from determination of the applicable rate of tax, it can be used as a tool for unnecessary harassment by the tax authorities.

    Preeti Goyal+129 Nov 2023
  • All PracticesAll Industries

    Cross-border payments for Indian businesses – Impact of RBI’s new guidelines

    The Reserve Bank of India (‘RBI’) vide Notification No. RBI/2023-24/80 CO.DPSS.POLC.No.S-786/02-14-008/2023-24 dated 31 October 2023, has issued a new regulatory framework for Payment Aggregators of Cross Border Transactions (‘PA-CB Regulation’). The said regulation shall govern all entities, including AD Banks, engaged in the processing / settlement of cross-border payment transactions for import and export of goods and services.

    29 Nov 2023
  • Direct TaxAll Industries

    SC Ruling on MFN Clause in Tax Treaty: A conundrum for the tax deductors in India?

    Recently, the Supreme Court of India passed a judgment interpreting the Most Favoured Nation (‘MFN’) clause present in various Double Taxation Avoidance Agreements (‘DTAAs’). In essence, an MFN clause is incorporated in DTAAs entered into by India with a country (say second state) by which a promise is made by India to give the same benefit or preferential treatment which India may accord to another country (say third state) in future.

    S. Vasudevan20 Nov 2023
  • Intellectual PropertyAll Industries+4

    Product-by-Process: Perception by Indian Patent Law

    This article aims to explore the scope of patentability and infringement concerning product-by-process claims with a specific emphasis on the recent two decisions of the Delhi High Court, passed by the learned Single Judge and the Division Bench of the Delhi High Court in the case of CS(COMM) 261/2021 and connected matters.

    Archana Viswanathan14 Nov 2023
  • Data Protection & TMTIT & ITES

    Impact of DPDP Act on employee data

    As the recently passed Digital Personal Data Protection Act, 2023 (‘DPDPA’) awaits implementation guidance from the Government, it is slated to have significant impact across all sectors and industries. As a result of the same, entities would have to reimagine data handling practices when processing personal data of customers, employees and other third parties who are individuals.

    Kumar Panda+203 Nov 2023
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