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.
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.
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.
The article discusses a recent Delhi High Court decision reiterating the principle encapsulated in Section 124 of the Trade Marks Act, 1999 while also clarifying the scope of Section 124(5). The Court confirmed that an interim order can be passed even if the infringement suit has been stayed in view of Section 124. However, the Court stated that in order to analyze whether an interim order can be passed under Section 124(5), it is imperative to look...
The article discusses at length the significance of ‘appointed date’, ‘effective date’ and various clauses of the scheme of amalgamation/ merger/ demerger in the light of indirect tax laws. Elaborating upon the concepts, the author deliberates on a dispute in respect of those transactions which are undertaken between the appointed date and the effective date/till the fresh registration under indirect tax is obtained by the successor in its own name.
The Initial Public Offering (‘IPO’) market has been booming ever since the dawn of 2020. As per the latest EY Global IPO Report, the year 2021 has been the best IPO year since the last 20 years.
In November 2021, the government floated the idea that it was going to introduce ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’, to lay down a framework for regulating transactions involving cryptocurrency.
Vigilantibus, et non dormientibus, jura subveniunt is a noted maxim which means ‘the laws assist those who are vigilant, not those who sleep over their rights ‘ . This is a pertinent principle which applies predominantly while determining if a particular cause of action has been espoused within the limitation period.
Mergers and acquisitions in India reached near an all-time high in the year 2021 after deals worth US $90.4 billion were struck in the first nine months. Of these, a total of 95 combinations were notified to the Competition Commission of India (“CCI”).
In a sunset review investigation, the objective of the review carried out by the investigating authority is to determine whether there is a likelihood of continuation or recurrence of dumping and injury upon cessation of Anti-Dumping Duty (‘ADD’). Only if there is a likelihood, can the investigating authority recommend the continuation of ADD.
In the recent case of Sotefin SA v. Indraprastha Cancer Society And Research Center & Ors a Single Judge of the Delhi High Court granted an interim injunction by restraining the Defendants from making, selling, exporting, or from offering for sale, importing or in any manner directly or indirectly dealing with infringing products namely, ‘Smart Dollies’ that infringed the Plaintiff’s patent IN214088 pertaining to a ‘Carriage for the horizontal transfer of motor vehicles in automatic mechanical
One of the common woes of an assessee facing an investigation, under the Central Goods and Service Tax Act, 2017 (‘CGST Act’) is that they are often compelled to make payments during the pendency of the investigation, mostly only to buy peace temporarily.
Transfers of personal data and non-personal data across borders remains an aspect of significant concern and consideration in the growth of digital economies.
The article discusses the applicability of Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 (‘BOCW Act’) to factories wherein construction activity for the purpose of expansion or constructing godowns is being undertaken.
We had dealt with the draft chapter on Cross Border Insolvency (‘CBI’), proposed to be included within the framework of Insolvency & Bankruptcy Code, 2016 (‘IBC’/ ‘Code’) vide Public Notice dated 20 June 2018, in our previous article featured in August 2018.
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