Legal Blogs by Argud Partners | Corporate Law Firm in Mumbai

The introduction of the Industrial Relations Code (Amendment) Bill, 2026, marked as Bill No. 33 of 2026, represents a significant legislative intervention aimed at consolidating the legal foundation of India’s labour reforms. Introduced in the Lok Sabha by Dr. Mansukh Mandaviya, the Union Minister for Labour and Employment, the Bill

RBI Commercial Banks Risk Amendment Directions, 2026

The Reserve Bank of India (RBI) issued the (Commercial Banks – Concentration Risk Management) Amendment Directions, 2026, on February 13, 2026. This legislative instrument, promulgated under Sections 21 and 35A of the Banking Regulation Act, 1949, establishes a new prudential framework for managing sectoral risks and institutional exposure. The directions

Section 29A Arbitration: Jurisdiction & Time Limits

Introduction The statutory framework governing arbitration in India has undergone significant evolution to establish the country as a hub for efficient dispute resolution. Central to this objective is Section 29A of the Arbitration and Conciliation Act, 1996, which was introduced to address the chronic delays that historically hindered arbitral proceedings.

SEBI ICDR Regulations 2018: Legal Framework & Compliance

Introduction The Securities and Exchange Board of India Act, 1992, serves as the primary authority for the regulation of the Indian securities market. Under Section 11(1), the Board is mandated to protect investor interests and promote market development. Within this statutory framework, the SEBI (Issue of Capital and Disclosure Requirements)

Conflict of Assets Under PMLA and IBC in India

Introduction The statutory confrontation between the Prevention of Money Laundering Act, 2002 (PMLA) and the Insolvency and Bankruptcy Code, 2016 (IBC) remains one of the most significant points of friction in the contemporary legal environment of India. This conflict involves a fundamental collision between two distinct public law regimes: the

SEBI 2026 Framework for RTAs: Legal Overview & Duties

Introduction The regulatory framework for Registrars to an Issue and Share Transfer Agents (RTAs) in India has undergone a transformative consolidation with the issuance of the Master Circular HO/38/13/(4)2026-MIRSD-POD/I/4298/2026 on February 06, 2026. This circular provides a unified reference for market participants, rescinding earlier fragmented instructions while preserving transitional savings

Possession Without OC: Builder Still Liable for Delay

Introduction The most prominent dispute in the Indian real estate sector today is more about getting the possession lawfully rather than just getting the possession. Throughout the projects, the promoters issue possession letters or promoter generated possession certificates even when the competent authority has not issued any occupation or occupancy

Counterclaims in Indian Arbitration: Limits & Fairness

Introduction In India, arbitration has truly become a fairly developed dispute resolution instrument, steered by party autonomy and flexibility of procedural regulations. The very flexibility may result in conflicts with procedural discipline particularly when the substantive rights are brought forward late. One such area of consistent dispute is the filing

Homebuyers’ Protection in Insolvency: CIRP Framework

Introduction The evolution of insolvency law in India has been shaped by the competing interests of financial creditors, operational creditors, and homebuyers, who often occupy a vulnerable position in the complex web of real estate financing. A structural shift towards a creditor driven model was introduced through the Insolvency and

MeitY and Statutory Data Protection Enforcement

Constitutional Standards and the Legislative Transition to Data Sovereignty The evolution of privacy in the Indian legal environment has moved from a judicial declaration of intent to a high-stakes statutory mandate. This shift was finalized in late 2025 with the formal notification of the operational rules for the Digital Personal

SEBI 2026: Listing Obligations & Disclosure Requirements

A Unified Statutory Foundation The regulatory architecture governing listed entities in India has undergone a transformative consolidation through the Securities and Exchange Board of India Master Circular for compliance with the Listing Obligations and Disclosure Requirements Regulations, 2015 (LODR), last updated on January 30, 2026. Issued under Section 11(1) of

Statutory Discretion in Unsubscribed Rights Issues

The legal architecture governing the increase of subscribed capital in Indian corporate law is anchored in the principle of pre-emptive rights, ensuring existing shareholders retain their proportional economic interest. Under Section 62 of the Companies Act, 2013, a rights issue is the primary mechanism for capital expansion. This provision mandates

Status of Insolvency Professionals as Public Servants

The Statutory Conflict: Literal vs. Purposive Interpretation of Public Servant Status The constitutional and statutory environment governing corporate insolvency in India currently faces a fundamental friction regarding the legal status of insolvency professionals. This friction centers on whether individuals who are essentially private practitioners such as chartered accountants and advocates

Removal of Directors: Corporate Accountability in India

The Indian corporate governance structure is fundamentally anchored in the principle of shareholder democracy, where the power to appoint and remove directors serves as the primary mechanism for management accountability. Under Section 169 of the Companies Act, 2013, shareholders possess an inherent legal right to remove a director before the

Insurance Laws Amendment Act, 2025 Explained

Strategic Modernization and the 2047 Statutory Vision The Indian insurance sector is currently undergoing a structural transition following the enactment of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which received Presidential assent on December 20, 2025. This legislative package fundamentally reconstructs the tri-pillar framework consisting of

Income Tax Act 2025: Reforming India’s Tax Regime

The enactment of the Income Tax Act, 2025 marks a foundational shift in the fiscal architecture of India, representing the most extensive overhaul of direct tax legislation since 1961. This legislative progression is not merely a periodic update, but a fundamental recodification designed to address the systemic structural fatigue of

Landmark Arbitration Judgments Shaping Indian Law 2025

Foundational Shifts in the Arbitral Environment The year 2025 represents a transformative epoch for Indian arbitration, characterized by a deliberate judicial effort to align domestic practices with international standards while simultaneously addressing unique procedural challenges. The evolution of the Arbitration and Conciliation Act, 1996, throughout this period is not merely

RBI FEMA 2026 Export Import Regulations Compliance Guide

RBI Notification Under FEMA Governing Export and Import The Reserve Bank of India (RBI) on January 13, 2026, notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, under its powers in the Foreign Exchange Management Act, 1999 (FEMA). These Regulations which will be effective from

Indian Insolvency Liquidation Regulations, 2026

The Indian insolvency system in 2026 is defined by a shift from judicial discretion toward a mandatory statutory regime. This evolution is spearheaded by the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, as amended up to January 2,

RBI Draft Norms for Acquisition Finance by Banks

RBI’s Regulatory Intervention in Acquisition Finance The regulatory architecture governing the Indian banking sector has undergone a fundamental transition with the introduction of the Draft Reserve Bank of India (Commercial Banks – Capital Market Exposure) Directions, 2025. This framework represents a departure from over five decades of a prohibitive stance

NCLAT on Settlement and Personal Guarantor Discharge

The Foundation of Co-extensive Liability under the Indian Contract Act The evolution of insolvency law in India has reached a critical juncture where the sanctity of personal guarantees is being upheld with unprecedented statutory and judicial rigor. Since the central government notified the provisions relating to personal guarantors to corporate

Unsigned Arbitration Agreements Enforced by Conduct

Introduction: The Evolution of Consent in Indian Arbitration In the modern commercial setting, where transactions are frequently initiated through rapid electronic exchanges and where performance often begins before the ink on a formal document is dry, the legal standards governing the enforceability of arbitration agreements have had to adapt. This

Non-Signatories & Confidentiality in Indian Arbitration

Introduction The Indian arbitration system has arrived at a definitive juncture in 2025, characterized by a sophisticated balance between the commercial necessity of including non-signatories and the procedural requirement to maintain the private nature of the forum. The Supreme Court of India has moved away from a strictly formalistic interpretation

Apple vs CCI: Constitutional Proportionality & Revenue

The Question Raised by Apple vs CCI The litigation in Apple Inc. & Anr v. Union of India & Ors, W.P.(C) 17934/2025 represents a defining moment for Indian competition law and the limits of regulatory power. In late 2025, the technology giant moved the Delhi High Court to challenge the

Banking Laws (Amendment) Act, 2025: Indian Finance Shift

The formal enactment of the Banking Laws (Amendment) Act, 2025, represents a fundamental shift in the regulatory architecture of the Indian financial system, marking a significant legislative intervention since the comprehensive reforms of the early nineties. This legislative package received the assent of the President on April 15, 2025, and

MCA–SEBI Regulatory Primacy in Corporate Securities

Introduction The administrative structure of Indian corporate law is governed by a functional duality between the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI). The Ministry of Corporate Affairs derives its primary authority from the Companies Act, 2013, and the Limited Liability Partnership Act, 2008,

MAHARERA 2025 Enforcement SOP & Deemed Decree Doctrine

The Judicial Mandate for Effective Enforcement The evolution of the real estate regulatory environment in India has reached a critical juncture in 2025, specifically regarding the transition from theoretical adjudications to practical enforcement mechanisms. For nearly a decade, the Real Estate (Regulation and Development) Act, 2016, functioned primarily as a

SARFAESI Act: Statutory Powers & Constitutional Limits

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), serves as the definitive legal framework for the non-judicial recovery of secured debts in India. The statute provides a mechanism to maintain the liquidity of the banking sector and manage the systemic burden of

Section 47 CPC: Limits on Arbitral Award Execution

Introduction: Legislative Intent for Finality The Arbitration and Conciliation Act, 1996 (ACA), provides a specialized and self-contained legal system aimed at ensuring the expeditious resolution of commercial disputes with minimal judicial intervention. The finality of the process is established by Section 35 of the ACA, which declares an arbitral award

Gratuity Act, 1972: Statutory Rights & Judicial Powers

Introduction The Payment of Gratuity Act, 1972 (POGA), represents a seminal piece of social security legislation in India, meticulously structured to mandate employers to provide a lump-sum financial benefit to employees. This legislation is rooted in the principle of social justice, recognizing and rewarding the long-term, loyal, and devoted service

GST Registration & CGST Fourth Amendment Rules 2025

Introduction and Legislative Authority The Central Goods and Services Tax (Fourth Amendment) Rules, 2025, mark a significant milestone in the digital transformation of the Indian indirect tax structure. These amendments were officially notified by the Ministry of Finance through Notification No. 18/2025—Central Tax on October 31, 2025, and subsequently took

IBC Moratorium: Performance Default Termination Upheld

The Commercial Certainty Imperative in Insolvency Law The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted with the fundamental objective of corporate debt resolution in a time-bound manner, crucially aiming to preserve the Corporate Debtor (CD) as a going concern to maximize the value of its assets. The primary mechanism

India’s Financial Code: RBI’s 244 Master Directions

The Statutory Mandate for Regulatory Consolidation The comprehensive rollout of 244 Master Directions (MDs) by the Reserve Bank of India (RBI) represents a formal exercise of delegated legislative authority, aimed at replacing years of fragmented regulatory circulars with a unified, readily accessible code. This regulatory cornerstone was formally notified via

RBI 2025 Universal Bank Licensing: Key Legal Insights

The Institutional Shift: Continuous Authorization Under Indian Banking Law The Reserve Bank of India (Universal Banks- Licensing) Guidelines, 2025, formally issued via notification on November 28, 2025, mark a critical statutory development in the evolution of India’s financial sector. This framework derives its primary legal basis from the authority conferred

RBI Trade Relief 2025: Exporter Debt Rules

The Regulatory Response to Trade Disruption The issuance of the Reserve Bank of India (Trade Relief Measures) Directions, 2025 (RBI/2025-26/96) on November 14, 2025, represents a highly strategic intervention by the nation’s central bank, coming into immediate effect. This policy was developed in response to severe trade disruptions, notably acute

IBBI’s 2025 Liquidation Shift & SC Value Maximization

Introduction to the Corporate Liquidation Framework The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, as amended up to October 14, 2025, constitutes the essential secondary legislation governing the process of asset realization and distribution when a corporate revival fails under the Insolvency and Bankruptcy Code, 2016 (the

Civil Adjudication Framework: Patents Rules, 2025

Introduction: A Paradigm Shift in Patent Compliance Enforcement On November 25, 2025, the Ministry of Commerce and Industry notified the Patents (Amendment) Rules, 2025, effectuating a fundamental transformation in how patent-related contraventions are prosecuted and adjudicated in India. This regulatory intervention introduces Chapter XIV-A under the Patents Rules, 2003, establishing

Limited Liability for OPCs: Insights from Endemol Case

Statutory Foundation of Limited Liability: The One Person Company (OPC) The One Person Company (OPC) structure, introduced by the Companies Act, 2013 (CA, 2013), marked a critical legislative step to formalize solo entrepreneurship. Section 2(62) of the CA, 2013 defines an OPC as “a company which has only one person

Tax Discrimination: Permissible Classification Limits

Constitutional Bedrock: Article 14 as the Ultimate Check on Fiscal Arbitrariness The power of the State to levy and structure taxes is plenary, yet it remains subject to the foundational constraints of the Constitution of India. The primary constitutional check on legislative classification, particularly in economic measures, is enshrined in

India Repo Market 2025: RBI Rules & Legal Precedents

Statutory Authority and Scope of the 2025 Directions The Master Direction, Reserve Bank of India (Repurchase Transactions (Repo)) Directions, 2025, effective November 11, 2025, establishes the definitive legal framework for repurchase agreements in India’s money market. This instrument is issued under the comprehensive statutory authority granted to the Reserve Bank