General Corporate Advisory

On September 19, 2024, the Department of Telecommunications, ("DoT") issued the Telecommunications (Right of Way) Rules, 2024 ("RoW Rules") under the Telecommunications Act, 2023 ("Telecom Act"). The RoW Rules, which will come into force on January 1, 2025, seek to regulate the establishment, operation and maintenance of underground telecommunications infrastructure. ......

In a recent judgment, the Delhi High Court ("Court") dealt with the emerging issue of social media influencers commenting on topics they are unqualified to discuss, particularly when such comments have the potential to harm a brand's reputation. The case of Zydus Wellness Products Limited v. Mr. Prashant Desai , highlights the growing responsibility of influencers. ... ...

In January 2024, a division bench of the Bombay High Court consisting of Justice G. S. Patel and Justice Neela Ghokale (the "Division Bench") pronounced a split verdict in the case of Kunal Kamra v. Union of India & Ors. In the said matter, the constitutional validity of the amendments made to Rule. ......

Pursuant to the commitments made during the announcement of the Union Budget 2024-25, the Department of Economic Affairs of the Ministry of Finance, notified the Foreign Exchange (Compounding Proceedings) Rules, 2024 on September 12, 2024 ("Rules") pursuant to Section 46 of the Foreign Exchange Management Act, 1999. ......

In a milestone initiative to advance the digital infrastructure in the country, and with a view to increase the transparency of digital-based government functions, the Ministry of Electronics and Information Technology ("MeitY") of the Government of India launched the Vishvasya-Blockchain Technology Stack. ......

Recently, the High Court of Delhi, reinforced the application of Section 32A of the Insolvency and Bankruptcy Code, 2016 ("IBC"). Section 32A of the IBC states that the liability of a corporate debtor ("CD") for an offence committed prior to commencement of the corporate insolvency resolution process. ......

The Securities and Exchange Board of India ("SEBI") has enacted significant amendments to the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, through the Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024. ......

Earlier this year, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, in her budget speech announced the intent to simplify the regulatory framework governing Foreign Direct Investments ("FDI") and Overseas Investments ("OI"). ......

In the recent case of M/S Plus91 Security Solutions v NEC Corporation India Private Limited (Erstwhile NEC Technologies Private Limited) , the Delhi High Court ruled that an Arbitral Tribunal awarding damages for loss of profits was patently illegal if the same was against the terms of the contract. ......