Corporate

SEBI AIF Regulations amended to enhance transparency and protect investor interest
Overseas investment framework revised to remove restrictions and liberalise norms
Listing regulations amended to improve market integrity and investor confidence
Capital issuance regulations amended in response to evolving market requirements
SEBI's complaint redressal system revamped for increased efficiency
Reforms to the corporate insolvency resolution process proposed to increase effectiveness and reduce gaps

Dispute Resolution

Supreme Court:
- Clarifies that a party’s failure to attend arbitral proceedings does not amount to abandonment of its claim
- Limits the Enforcement Directorate’s power to make arrests once the special court is seized of the matter under the Prevention of Money Laundering Act, 2002
- Expands its curative jurisdiction to arbitral awards; lays down the standard for court intervention
Delhi High Court holds that receipt of notice of arbitration by the respondent is a prerequisite for commencement of arbitration proceedings

EPFO revises rates for computation of damages
Karnataka Government renews exemption for IT/ITES companies from applicability of standing orders in state
Bombay High Court holds that nature of duties would determine whether employment is in a supervisory capacity
Calcutta High Court holds that terms of endearment may not always be sexually coloured and amount to sexual harassment
Karnataka High Court strikes down special provisions relating to international workers as unconstitutional and arbitrary

Regulated entities and their intermediaries prohibited from associating with unregulated entities providing financial advice, including finfluencers
Stockbrokers mandated to establish institutional mechanisms for fraud prevention
Introduction of a streamlined disclosure regime for material changes applicable to foreign portfolio investors
SEBI permits up to 100% NRI contribution for foreign portfolio investors based in International Financial Services Centre to increase the inflow of foreign investment
RBI mandates compounding for issuance of partly paid-up units by AIFs prior to 14 March 2024

India unveils new guidelines to promote and regulate participation in the space sector
Bombay High Court examines overlapping offences in the Indian Penal Code and Information Technology Act
Default Loss Guarantee Guidelines clarified

Insurance regulatory authority issues fresh regulations for consumer protection
Self-declaration requirements being developed for advertisers and advertising agencies

Telecom department issues additional Know Your Customer instructions for business connections
Telecom regulatory authority issues further directions to address spam complaints

Telangana High Court upholds applicability of General Anti-Avoidance Rule over Specific Anti-Avoidance Rule

Validity of GST notification extending time limit for passing adjudication orders relating to proceedings for FY 2017-18 upheld
GST related clarifications have been issued on:
- Valuation of import of services by a related person where recipient is eligible to claim full input tax credit
- Taxability of loan provided to a related person
- Limitation period for claiming input tax credit on self-invoices issued by recipients for supplies subject to reverse charge mechanism
- Taxability of stock options provided by a company to its employees through its overseas holding company

Trade remedy actions on imports into India in the second quarter of 2024
Appeals against trade remedy measures on hold as recent amendment adds to uncertainty surrounding the appeal process
Directorate General of Foreign Trade expands the scope of exemption from domestic quality standards for goods used in manufacturing inputs

First living will executed in Goa; implementation mechanism awaited from other states in line with the Supreme Court’s directions
Supreme Court tables two matters challenging gender discrimination under Muslim personal law
Tightened scrutiny on beneficial ownership for foreign owned or controlled companies
SEBI permits up to 100% NRI contribution for foreign portfolio investors based in International Financial Services Centre to increase the inflow of foreign investment
Investments in family investment funds clarified to be overseas portfolio investments
Portugal reintroduces tax breaks for non-habitual residents