In a significant development, the SEBI has recently approved significant regulatory changes to the framework governing the issuance of listed debt securities and non-convertible redeemable preference shares. The changes...

On the night of February 21, 2024, the Union Cabinet, in a historic move, announced its decision to amend the Foreign Direct Investment (FDI) policy in the space sector, by creating new sub-sectors with different entry...

In response to longstanding stagnation, the Karnataka state government, on February 03, 2024, notified the Karnataka Stamp (Amendment) Act 2023, revamping stamp duty rates for more than 50 legal instruments, including...

In a significant regulatory development, the RBI has recently revamped the regulatory framework for the issuance of Commercial Papers and Money Market NCDs through the issuance of updated Master Directions, superseding...

In a much needed clarity on ability of AIFs to enter into the distressed market sector, SEBI has recently issued a consultation paper to enable such ‘special situation funds’ (SSFs) (a distinct class of AIFs) to...

The RBI recently issued the draft RBI (Treatment of Wilful Defaulters and Large Defaulters), Directions, 2023 (Draft Directions) as an attempt to consolidate the framework governing wilful defaulters (WDs). The...

In recent times, several developments in India have improved access to formal credit f MSMEs. The government has taken notable initiatives, such as the Credit Guarantee Fu Trust for Micro and Small Enterprises (CGTMSE)...

As announced in the Union Budget 2023, SEBI recently introduced the establishment of the ‘Corporate Debt Market Development Fund’ (CDMDF) as an institutional framework to enhance secondary market liquidity in the...

The Securities and Exchange Board of India on July 6, 2023 has introduced the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2023 which have...

In a bid to ensure operational convenience, Sebi has recently released a consultation paper prescribing a formal framework governing delisting of NCDs by ‘listed entities’, (which interestingly includes corporates,...

The Securities and Exchange Board of India in its meeting of the board members held on June 28, 2023 has approved a slew of significant proposals in relation to equity as well as debt securities markets. These proposals...

The Reserve Bank of India by way of notification dated June 7, 2023 has expanded the scope of the Trade Receivables Discounting System (“TReDS”) as prescribed under the Guidelines for the Trade Receivables...

The banking and finance sector is facing several challenges, including rising competition from non-bank financial institutions, increasing regulatory compliance costs, and the need to invest in new technologies....

The Revenue and Forests Department has amended the Maharashtra Stamp Act, 1958 on February 9, 2021, vide Maharashtra Ordinance No. I of 2021[1], by promulgating the Maharashtra Stamp (Amendment and Validation)...

While the world is still trying to figure out the “new normal”, India’s central bank continuously strives to mitigate the impact of Covid 19 on stressed borrowers. In this article, Nishant Singh, Chhavi Jhanji,...

The Reserve Bank of India recently issued a notification to reiterate and ensure compliance of the Fair Practices Code and outsourcing guidelines for financial services, in letter and spirit, by banks and non–banking...

In light of the pandemic, the Government had provided relief to taxpayers by extending statutory and regulatory compliance timelines under various direct tax statutes, by way of a tax ordinance. Now, through a...

On March 27, 2020, to mitigate the impact of COVID-19 on the financial market, the RBI announced a regulatory package, through which it allowed a specific moratorium on the repayment of debt, the relaxation of certain...

In continuation of its efforts to simplify the existing ECB regime in India, the RBI issued a circular on July 30, 2019, through which it has relaxed the ECB end-use restrictions for corporates and NBFCs by permitting...

The Voluntary Retention Route announced by the RBI at the beginning of March gives FPIs the opportunity to subscribe for Indian corporate debt, free from the concentration and single issue restrictions introduced in the...

On January 16, 2019, the RBI revised the external commercial borrowing policy, essentially restructuring the regime into foreign currency and Indian Rupee debt. In particular, the new regime significantly broadens the...

During 2018, our lawyers shared their thoughts on a number of major legal developments impacting the Indian economy, spanning a wide arc from data usage and data protection to insolvency resolution and foreign...

Earlier this month, the Supreme Court of India passed a judgment concerning the eligibility of resolution applicants for Essar Steel India Limited. INDUSLAW's Saurav Kumar, Harman Walia and Jaskiran Kaur discusse the...

The Negotiable Instruments (Amendment) Act, 2018 (the "Amendment") was recently passed by parliament and came into effect from September 1, 2018. It introduces substantial changes to the Negotiable Instruments Act, 1881...

The Insolvency & Bankruptcy Code currently has no clear framework for cross border insolvency. That's about to change, with the Ministry of Corporate Affairs recently inviting comments on the draft chapter, broadly...

The President of India promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 (the 'Ordinance') on 6 June 2018 to amend the Insolvency and Bankruptcy Code, 2016 (the 'Code'), which amongst other...

The regulator of Indian securities market, the Securities and Exchange Board of India ('SEBI') on May 31, 2018, notified amendments to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011...

The Reserve Bank of India (the 'RBI') has undertaken a detailed review of the current regulations governing debt investment by Foreign Portfolio Investors ('FPIs') with the objective of simplifying the process of...

Cross border insolvency inevitably boils down to a scramble for assets, leaving creditors confused about the options available to them. INDUSLAW were delighted to have been invited by the National Law School in...

In an attempt to promote investment activities and to liberalize the procedures relating to trade credits for imports, the Reserve Bank of India (the "RBI") in 2004, had granted permission to authorized dealer banks...

Earlier in January, the Insolvency and Bankruptcy Code (Amendment) Act (the "Amendment Act") came into force amending the Bankruptcy and Insolvency Code, 2016 (the "Code"), by substantively incorporating changes...

The Reserve Bank of India (the 'RBI') has published responses to frequently asked questions ('FAQs') regarding the Master Directions ' Non-Banking Financial Company ' Peer to Peer Lending Platform (Reserve Bank)...

The Reserve Bank of India (the 'RBI') altered certain norms relating to the issuance of rupee denominated bonds (commonly known as 'masala' bonds) in the overseas market ('Rupee Bonds') pursuant to two circular's dated...

The Reserve Bank of India (the 'RBI') by way of a notification dated August 24, 2017, notified that a non-banking institution that carries on 'the business of a peer to peer lending platform' shall be a non-banking...

In a recent judgment, the National Company Law Appellate Tribunal, New Delhi (the 'NCLAT') held that the provisions of the Limitation Act, 1963 (the 'Limitation Act') do not apply to proceedings initiated under the...

Suggesting that the Indian corporate bond market's exposure to foreign investors may be overheating, the Securities Exchange Board of India issued a circular on 20 July 2017 temporarily suspending the overseas issue of...

Earlier this month, the Reserve Bank of India (the 'RBI') published certain norms relating to the issuance of rupee denominated bonds (also commonly known as 'masala' bonds) in the overseas market ('Rupee Bonds')...

The Reserve Bank of India ("RBI") has classified digital wallets as "Prepaid Payment Instruments" (hereinafter "PPI" or "Issuer") which refers to payment instruments that facilitate purchase of goods and services,...

Eligible resident corporates and/or body corporates had earlier been permitted to issue rupee denominated bonds (also commonly known as 'masala' bonds) in the overseas market ("Rupee Bonds") under India's external...

The Reserve Bank of India (the “RBI”) has issued a circular to address the special circumstances that have emerged after the demonetization drive (the “Circular”).

It's no secret that the Indian banking industry has a rather large number of loans outstanding that have simply gone wrong. With non-performing loans estimated at just over INR 6.3 trillion1 market. In this context, the...

The Reserve Bank of India (the “RBI”) has recently allowed non-banking finance companies (“NBFCs”) to refinance any existing infrastructure or other project loans by way of take-out financing,...

The Insolvency and Bankruptcy Code, 2016 (the “Code”) passed by the Lok Sabha on 5th May, 2016[1] seeks to provide a framework for time-bound settlement of insolvency by formulating a survival mechanism or...

The Reserve Bank of India (the “RBI”) has recently brought in significant changes to the external commercial borrowing guidelines (the “ECB Guidelines”) with respect to companies in the...

It was circa 1955 when computer was used for the very first time in India and it was circa 1995 that internet services were first launched here. In 2015, one cannot imagine a life without the two. This goes to show how...

Foreign direct investments drive the growth of financial markets of a country. While interest rate regulations and other financial indicators are essential ingredients for increasing the volume of foreign direct...