Fintech Newsletter

Cybersecurity regulation in India has, until now, largely spoken to the entity that suffers the breach. The 2022 CERT-In Directions issued under Section 70B of the Information Technology Act, 2000 fixed a six-hour reporting clock on the organisation that detects an incident. The new Guidelines flip the lens onto the entity upstream of that breach, the OEM or technology provider that built the product in the first place. For the first time, vendors supplying software, firmware, cloud platforms, or APIs into India carry direct, time-bound, and independently verifiable obligations of their own and not obligations that are merely passed through a customer contract, but obligations CERT-In itself may enforce.

In a rare use of its extraordinary powers under Article 142 of the Constitution of India, the Supreme Court heard a curative petition filed by DMRC, challenging an earlier order that had upheld the arbitral award. The judgment brings finality to a decade-long contractual dispute that began in 2013 with arbitration proceedings.

On June 3, 2026, the Supreme Court of India’s AI Committee released preliminary draft of the Regulations for Use of Artificial Intelligence (AI) in Courts, 2026 (“The Draft”). This marks a shift from scattered experiments with AI tools for translation, transcription, research and case management. With over 93,000 pending matters as of March 2026, the guidelines aim to ease processes for officials and citizens. AI could help reduce backlogs through automated cause-list preparation, transcription, research, and defect scrutiny, but its use also raises serious concerns.

In July 2026, the Delhi High Court declined to grant ANI Media an interim injunction against OpenAI, being the first Indian Court to substantively engage on whether training a large language model with copyrighted content is unlawful. At the centre of this finding is whether OpenAI’s use of ANI’s articles to train its models, fall under the ambit of the ‘fair dealing’ exception under Section 52(1)(a) of the Copyright Act, 1957 (“Act”).

Between May and August 2026, AI regulation has continued to develop rapidly, with a focus on accountability, transparency, human oversight and protection against AI-related harms.

As the curtain falls on 2025, the corporate world is fastened in an unrelenting race to weave Artificial Intelligence (AI) into every layer of commerce. Yet, much like the tale of Icarus, the pursuit of innovation raises a pressing question: has the thirst for technological ascendancy led companies to soar too close to the sun, neglecting the shield of cyber resilience?

Cloud ERP is becoming central to how Gulf businesses manage finance, HR, and other core functions. For CFOs and CIOs, choosing an ERP now involves looking beyond features to assess how the system will handle sensitive financial and employee data, meet local requirements, and fit the broader security needs of the business.

On 24 July 2026, the Central Board of Direct Taxes issued a comprehensive Guidance Note to assist Reporting Crypto-Asset Service Providers in complying with the dedicated reporting framework under the Income-tax Act, 2025 and the Income-tax Rules, 2026 for reporting crypto asset transactions.

The character of Dr. Ian Malcolm in the 1993 movie titled, “Jurassic Park”, perhaps put it most succinctly when he spoke about the adaptability of life. Change is constant, and like any other living organism, humans are remarkably proficient at adapting to their ever-changing surroundings.

The India–UK Comprehensive Economic and Trade Agreement (“CETA” or the “India–UK FTA”) is frequently discussed in the context of goods like automobiles, whisky, textiles and engineering products. Yet one of the sectors that stands to benefit most from the strengthening India-UK economic relationship is technology.

This newsletter examines recent Supreme Court judgments across arbitration, civil law, criminal law, insolvency, and white-collar crime. Key rulings address the binding of non-signatories to arbitration agreements, the scope of "industry" under the Industrial Disputes Act, limitations on FIR registration following Section 156(3) rejections, and the evidentiary requirements for proving bribery demands under the Prevention of Corruption Act.

This comprehensive monthly update examines significant competition law developments in India, including a landmark bid-rigging case involving HP India and its resellers, IndiGo's commitment application addressing operational disruptions, and the CCI's analysis of pricing practices in online food delivery platforms. The edition also covers major merger approvals in the power generation and automotive components sectors.

This newsletter examines landmark Supreme Court rulings from July 2026 across arbitration, civil law, criminal procedure, insolvency, and white-collar crime. Key decisions address the limits of judicial intervention in arbitral proceedings, the scope of default bail under the new criminal code, and the interplay between insolvency moratoriums and consumer protection remedies.

The Competition Commission of India has issued significant rulings on anti-competitive practices in the transportation and pharmaceutical sectors, while simultaneously approving major corporate restructurings. These decisions address freight rate fixing by transport associations, the closure of proceedings against pharmaceutical industry bodies, and the formation of strategic joint ventures in commodity trading and plastic packaging.

The Competition Commission of India (CCI), by its order dated 09 June 2026, found four truck associations i.e. Bhadrasahi/Guali Truck Association (OP-1), Bonai Truck and Tipper Owners’ Association (OP-2), Keonjhar District Truck Owners’ Association (OP-3), and Joda Truck Owners’ Association (OP-4) (collectively, OPs), operating in Odisha engaged in anti-competitive practices in contravention of Section 3 of Competition Act, 2002 (Act).

The present appeal arose from acquisition proceedings initiated under the National Highways Act, 1956. Pursuant to notifications issued under Sections 3A and 3D of the Act, the land belonging to Respondent No. 1 was acquired and vested in the Central Government. The Competent Authority passed an award determining compensation under Section 3G(1) of the Act.

Phoenix Legal's Competition Monthly for June 2026 examines landmark rulings reshaping India's merger control and antitrust enforcement landscape. From the Supreme Court's jurisdictional constraints on the Competition Commission of India to critical determinations on aftermarket definitions and gun-jumping penalties, these decisions establish new precedents for corporate transactions and competitive conduct. How will these interpretations influence future regulatory strategy and compliance frameworks?

This newsletter examines landmark Supreme Court judgments from May 2026 across arbitration, civil law, criminal procedure, insolvency, and white-collar crime. The cases address critical questions including judicial intervention in arbitral proceedings, inter-state taxation of natural gas sales, benami property transactions, delays in judgment pronouncement, resolution plan compliance, and multiplicity of FIRs in economic offences.

The Supreme Court of India, by its judgment dated 27 May 2026, allowed the appeal filed by Amazon.com NV Investment Holdings LLC (Amazon) and set aside the orders of the National Company Law Appellate Tribunal (NCLAT) dated 13 June 2022 and the order of the Competition Commission of India (CCI) dated 17 December 2021.

The appeal arose from an arbitral dispute in which the appellant challenged an order of the Arbitral Tribunal rejecting an objection under Section 16 of the Arbitration and Conciliation Act, 1996. The appellant contended that various agreements executed between the parties were insufficiently stamped and, being in the nature of “conveyance”, ought to have been impounded before arbitration could proceed.