Corporate

SEBI releases a consultation paper reviewing corporate governance norms for High Value Debt Listed Entities
Issuance of framework for reclassification of foreign portfolio investment to foreign direct investment
Norms governing issuance of Offshore Derivative Instruments tightened
Updated framework for treatment of wilful defaulters
Amendments to the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Framework for monitoring shareholding of Market Infrastructure Institutions

Dispute Resolution

Supreme Court rules that clauses allowing a party to mandate other party to select arbitrators only from a panel curated by it are invalid
Bombay High Court holds that arbitrators are empowered to change the venue of arbitration without consent of the parties
Supreme Court clarifies the procedure for withdrawal of corporate insolvency resolution process under Section 12A of the Insolvency and Bankruptcy Code, 2016

Delhi High Court rules special incentives paid during Covid-19 pandemic cannot be treated as part of wages under the Employees State Insurance Act, 1948
Jharkhand High Court stays law extending 75% reservation for locals in private sector jobs
Delhi High Court rules that new employer cannot deny employment once resignation has been accepted by previous employer
Haryana government issues compliance checklist under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
Supreme Court reinforces importance of properly constituted Internal Committees under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

Regulatory framework for Investment Advisers and Research Analysts relaxed to facilitate compliance and ease of doing business
Norms governing issuance of Offshore Derivative Instruments tightened
Introduction of Mutual Funds Lite framework for passive funds and Specialised Investment Funds
Clarification of framework for investments in overseas mutual funds/unit trusts by Indian mutual funds
Comprehensive review of the Merchant Banker Regulations
Issuance of framework for reclassification of FPI to FDI

ITAT characterises cryptocurrency as a capital asset; holds gains arising from transfer of cryptocurrency taxable as capital gains
Switzerland withdraws ‘most-favoured nation’ benefit under India-Switzerland tax treaty

Supreme Court validates authority of officers of Directorate of Revenue to issue show cause notices for recovery of customs duties
Supreme Court holds mobile towers and pre-fabricated buildings to be moveable properties qualifying as capital goods for availing CENVAT credit
Clarification on scope of “as is” and “as is, where is basis” used in Goods and Services Tax circulars issued for clarification on applicable GST rates and classification of specified goods and services
Clarification on taxability of transactions in vouchers and sale of used vehicles, and amendments to Section 17(5)(d) of the Central Goods and Services Tax Act, 2017

Singapore High Court sets important precedent by holding trustee liable for mismanagement and breach of trust
Regulation 60A introduced to the Depositories and Participants Regulations, 2018 to streamline securities transmission and reduce unclaimed assets
Dubai International Financial Centre Courts introduce Digital Assets Will for estate planning in the digital age
US Internal Revenue Service discontinues automatic penalties for late filing of Form 3520 by US taxpayers who receive foreign gifts or inheritances
Tax tribunal upholds the applicability of deemed gift tax on family trusts where trustees have discretion to add non-relative beneficiaries; order recalled for inadvertent error

New Biological Diversity Rules, 2024 define procedures for foreign entities to access Indian biological resources for research and commercial utilisation
Medical device adverse event reporting form updated to enhance monitoring of medical device safety in India

Suit filed against OpenAI for copyright infringement
India signs the Riyadh Design Law Treaty
Delhi High Court clarifies the scope of the Regional Director’s powers in company name rectification
Screenwriters Rights Association of India recognised as a Copyright Society
Delhi High Court rules that PhD theses are not exempt from right to information on the basis of intellectual property rights
Orissa High Court holds copyright infringement disputes to be arbitrable