Legal Blogs by Argud Partners | Corporate Law Firm in Mumbai

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

MCA’s 2025 Expands Financing Scopes Under Section 186

The Regulatory Architecture of Inter-Corporate Financing under Section 186 The Companies Act, 2013, establishes stringent regulatory oversight regarding the deployment of corporate funds in external entities, specifically concerning inter-corporate loans, guarantees, provision of security, and acquisition of securities. Section 186 of the Companies Act, 2013 establishes a strict framework for

DPDP Rules 2025: India’s Data Protection Compliance

The Legislative Journey: From Constitutional Mandate to Statutory Rules The Digital Personal Data Protection (DPDP) Rules, 2025, notified by the Ministry of Electronics and Information Technology (MeitY) on November 14, 2025, fully operationalize the Digital Personal Data Protection (DPDP) Act, 2023. This framework is directly rooted in the Supreme Court’s

Statutory Shift in India’s Labour Codes, 2025

India’s Labour Codes 2025: Compliance Guide On November 21, 2025, the Government of India implemented a fundamental overhaul of employment law, bringing into force the four comprehensive statutes: the Code on Wages, 2019; the Industrial Relations Code, 2020; the Code on Social Security, 2020; and the Occupational Safety, Health and

Limitation for Void Sale Deeds Under Article 65 Explained

Understanding Limitation for Void Sale Deeds Under Limitation Act, 1963 The central difficulty in property litigation often revolves around instruments, such as sale deeds, executed either fraudulently or under other compromising circumstances. The fundamental legal classification of such an instrument whether it is void ab initio or merely voidable determines

Medical Representatives Not Workmen Under IDA, 1947

“Workman” under the Industrial Disputes Act, 1947: Interpreting Its Restrictive Scope The classification of an employee as a “workman” is a critical determination in Indian labour law, as it dictates whether the protective provisions of the Industrial Disputes Act, 1947 (ID Act), particularly concerning termination, compensation, and industrial dispute resolution,

Madras HC: Cryptocurrency is Property in India

Introduction: The Definitional Crisis and the Judicial Response The prolonged legal uncertainty surrounding Virtual Digital Assets (VDAs) in India established a paradoxical regulatory model: digital assets were formally brought under the tax ambit, but their proprietary status under civil law remained undefined. This framework created a constitutional dilemma, as the

SEBI 2025 Warning: Digital Gold Unregulated Risks

Understanding the Risks of Unregulated Digital Gold: SEBI 2025 Advisory The Securities and Exchange Board of India (SEBI) issued a decisive public advisory on November 8, 2025 (Press Release No. 70/2025), concerning investments in products marketed as ‘Digital Gold’ or ‘E-Gold’ through various online platforms. This caution serves as a

SC 2025: Foreign Arbitral Award Free from RBI Approval

Defining the Conflict: Arbitration Finality versus Foreign Exchange Control The process of enforcing foreign arbitral awards in India, governed by Part II of the Arbitration and Conciliation Act, 1996 (A&C Act), often encounters rigorous scrutiny under the Foreign Exchange Management Act, 1999 (FEMA). The historical tension centers on whether payments

Avoidance Transactions Under IBC: Key Legal Updates 2025

Avoidance Transactions Under the IBC: Statutory and Judicial Shifts, 2025 The Insolvency and Bankruptcy Code, 2016 (IBC) contains provisions to undo “avoidance transactions” deals made by a corporate debtor before insolvency that unfairly prefer some creditors or defraud others. Chapter III (Sections 43–51) of the IBC empowers the Resolution Professional

India’s AI Rules: IT Amendments for Synthetic Media Use

India’s AI Rules: IT Amendments for Synthetic Media Use The Government of India, through the Ministry of Electronics and Information Technology (MeitY), has proposed substantial amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (IT Rules, 2021), made under the authority of the parent Information

RBI Directions, 2025 on Digital Payment Authentication

RBI Directions, 2025 on Digital Payment Authentication The issuance of the Reserve Bank of India (Authentication mechanisms for digital payment transactions) Directions, 2025, dated September 25, 2025, represents a significant statutory intervention designed to modernize and standardize security protocols across India’s digital payment ecosystem. These Directions signal a fundamental shift

Validity of Arbitral Award Service on Indian Govt. Entities

Validity of Arbitral Award Service on Indian Government Entities The successful conclusion of an arbitration against the Indian government or a state-owned entity is intrinsically linked to the procedural validity of serving the arbitral award. This is not a mere administrative formality; it is the essential legal act that transitions

Competition vs Sectoral Laws: Jurisdiction Clash in India

Competition vs Sectoral Laws: Jurisdiction Clash in India In India’s regulatory environment, a persistent legal tension exists between the Competition Commission of India (CCI), the broad-based market regulator, and various sector-specific regulators (SRs). This friction arises from overlapping mandates to address anti-competitive practices, creating uncertainty for businesses, and raising complex

CAA Amendment 2025: Boosting SMEs, Startups & Corporates

Introduction: A Transformative Shift in Corporate Restructuring The Ministry of Corporate Affairs (MCA) notified the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025 on September 4, 2025, marking a watershed legislative development in Indian corporate law. These amendments significantly liberalize the process of mergers, demergers, and arrangements under the Companies

IFSC’s Payment Regulatory Board What It Means for Banks, NBFCs, and Fintechs

IFSC Payment Regulatory Board: Impact on Banks, NBFCs & Fintechs

IFSC Payment Regulatory Board: Impact on Banks, NBFCs & Fintechs Legal Foundation of the International Financial Services Centres Authority’s Governance The establishment of the International Financial Services Centres Authority (Payments Regulatory Board) Regulations, 2025, represents a significant and decisive step in consolidating the governance of payment systems within India’s

Delhi HC on PMLA: Balancing Enforcement & Due Process

Delhi HC on PMLA: Balancing Enforcement & Due Process The Legal Challenge: PMLA Retention Provisions at the Forefront of Judicial Review The Prevention of Money Laundering Act, 2002 (PMLA), serves as a cornerstone of India’s legal framework against economic offenses, granting extensive powers to the Directorate of Enforcement (ED)

NCLT’s Jurisdiction on Fraud: Supreme Court Clarifies in 2025

Supreme Court Clarifies NCLT’s Jurisdiction on Fraud in Landmark 2025 Ruling The Definitive Ruling on Tribunal Jurisdiction The Supreme Court of India’s judgment in Mrs. Shailja Krishna v. Satori Global Limited, 2025 INSC 1065 marks a pivotal moment in the evolution of Indian corporate law. The ruling conclusively addresses

New RBI KYC Rules Explained: 2025 Amendments

RBI KYC (Amendment) Directions, 2025: A High-Level Legal Analysis The Evolving Legal Framework for KYC in India The legal and regulatory framework for Know Your Customer (KYC) in India is a dynamic system, continuously adapted by the Reserve Bank of India (RBI) to counter financial crimes and align with

Role of Debenture Trustees in India: Legal Analysis of SEBI Master Circular

The Fiduciary Mandate: The Role of Debenture Trustees in the Indian Corporate Debt Market A. Defining the Debenture Trustee: An Agent of Fiduciary Duty A debenture trustee is a legal and financial entity appointed by a company to protect the interests of its debenture holders. This appointment formalizes the trustee’s