The article discusses the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2026 (‘PMS Regs 2026’), which were approved by the Securities and Exchange Board of India (SEBI) at its 215th Board meeting. The new regulations replace the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 (‘PMS Regs 2020’’), that are currently in force.
The article analyses the long-standing debate in Indian tax law: what happens when the Central Board of Direct Taxes (‘CBDT’) adopts one interpretation of a provision, but the courts adopt another. It discusses the recent Supreme Court decision in the case of Samtex Fashions Ltd., relating to availability of a deduction under Section 80HHC of the Income Tax Act, 1961 in respect of export quota premium. According to the authors, the CBDT Office Memorandum dated 23 February 1998 deserved a purposive and liberal construction and thus instead of being treated as an impermissible attempt to override the statute, it could legitimately have been regarded as an interpretative aid reflecting the broader legislative objective of extending Section 80HHC relief to export-linked incentives.
The article discusses the SEBI amendment in (Alternative Investment Funds) Regulations, 2012 to extend the protection currently available only to investors of alternative investment funds (‘AIF’) set up as a trust, to investors of all forms of AIFs.
The International Financial Services Centres Authority (Fund Management) Regulations, 2025 were recently amended by inserting Regulation 23(5) and Regulation 35(6) to enable Venture Capital Schemes and Restricted Schemes to grant differential distribution rights to investors. The article discusses a recent Circular dated 25 September 2026 issued by the IFSCA, setting out a framework for the grant of differential distribution rights to investors and issuance of senior and junior or subordinate units.
At times an applicant, i.e., a company or an individual may decide to file a patent application directly in a foreign country or as an international application under PCT other than in India, without first filing a patent application in India due to various reasons.
By Vidushpat Singhania Protection of database and associated rights is gaining traction in India. The vast volume and deluge of data available with the Business Processing Offices in India from jurisd
By Bhargav Mansatta After much furore over opening up of the retail sector to foreign investment, Government of India (GOI) announced its decision to allow FDI upto 51% in multi-brand retail trading u
By Surbhi Premi In 1997, the Government of India introduced the Voluntary Disclosure of Income and Wealth Scheme, 1997 (VDIS), an amnesty scheme under the direct taxes which unearthed approximately Rs
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