Every company on the road to a public listing is expected to be governed as though it were already a listed entity, well before its shares ever trade. Schedule VI Part A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”) requires the offer document to carry a statement confirming that the issuer has complied with the board composition and committee requirements prescribed under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), months before those regulations have any legal application to such company.

The Reserve Bank of India (RBI) has issued the Co-Lending Arrangements (CLA) Directions, 2025, effective January 1, 2026, replacing the earlier 2020 Co-Lending Model (CLM).

In the recent years, reverse flipping has again come into highlights as there are growing number of Indian startups initially incorporated (flipped) abroad...

Group governance is the framework of policies, processes, controls and reporting lines through which a parent company exercises oversight, sets standards and aligns the conduct of its subsidiaries, joint ventures and associates with the strategy, values and risk appetite of the group as a whole. It moves the unit of governance from the standalone company to the corporate group.

This practical position is also reflected in the manner in which listed companies generally evaluate related party transactions. Although price or value remains the primary reference point for approval thresholds and arm’s length assessment, the review is not usually limited to price alone. Well-governed listed companies through their audit committees typically conduct a qualitative assessment of the transaction first, examining the nature of what is being supplied, received, or foregone, and it is on the basis of that assessment that they determine whether the stated price or value is justified.

India’s fund management industry has traditionally operated on two distinct regulatory tracks. Mutual funds are regulated as retail pooled investment products under the SEBI mutual fund framework. Alternative investment funds, on the other hand, are regulated under the SEBI ...

Press Note 3 (2020 Series) ("PN3"), issued by the Department for Promotion of Industry and Internal Trade ("DPIIT") on 17 April 2020, was introduced in response to the economic disruption caused by the COVID-19 pandemic.

This note discusses the issues which have risen due to receipt of notice from the Collector of Stamps, Delhi, by companies registered in the National Capital Territory of Delhi, for demand of stamp duty on the share certificates issued by them as per the rates applicable in the National Capital Territory of Delhi.

In recent months, the Ministry of Corporate Affairs (MCA) has introduced several revisions in statutory e-forms pursuant to the transition from the V2 to the V3 portal and the digitalisation of previously manual forms...

The Indian insurance sector is at an inflection point. Parliament has passed a landmark amendment law. The regulator is readying a consultation paper on distribution reforms. The Government has set an ambitious mission of ‘Insurance for All by 2047’.

Customers, investors, regulators, lenders, and supply chain partners are increasingly scrutinizing how organizations manage ESG-related issues. Climate change, resource scarcity, biodiversity loss, human rights concerns, circular economy requirements, and governance failures are no longer viewed as peripheral sustainability topics. They have become core business risks.

A critical examination of why trust remain the preferred structure for floating AIFs in India, and why disputes arising out of them cannot be arbitrated under current law.

Settlement framework is meant to offer predictability and finality, and SEBI's Consultation Paper reflects a genuine, welcome effort to strengthen exactly that. This piece raises a few questions in that same spirit. Could an entity that has settled a default with SEBI still remain exposed to a fine by a stock exchange, exercising power that SEBI itself has delegated, for the very same default?

The Securities and Exchange Board of India (SEBI) has issued Circular SEBI/HO/ISD/ISD-POD-2/P/CIR/2025/55, dated April 21, 2025, significantly expanding the scope of automated Trading Window Closure...

A trading window email is missed. A designated person trades through a family account. A contra transaction is noticed only when the exchange asks for trade details. A pre-clearance approval form is signed without testing past trades. An SDD entry is incomplete. A senior executive is involved, and the compliance team is unsure who should inquire. The company has a code, but no real process to identify the breach, examine it fairly, decide the consequence and close the record.

A recurring problem arises in white-collar crime prosecutions. A person may first receive notices or summons from the ED, CBI, SFIO, EOW or another investigating agency. At that stage, the agency is investigating. A person may be called to answer questions, produce documents or explain transactions during the investigation. He cooperates, appears whenever called, and is consciously not arrested.

The Ministry of Health and Family Welfare, through the Food Safety and Standards Authority of India (FSSAI), issued the Guidelines for Acceptance of Recycled Polyethylene Terephthalate...

India has two regulatory layers- sector regulators since the 1990s and the CCI, which alone handles competition matters since 2002, and this has created real gaps and clashes, as seen in telecom, electricity, aviation, and conflicting court rulings. The article argues this isn’t a genuine conflict but a design flaw as the CCI is best placed to judge competition consistently, while sectoral regulators bring technical expertise the CCI lacks. This gap was flagged back in 2011 in a policy draft that was never implemented. The article proposes practical fixes, mandatory coordination, sunset clauses for outdated rules, and a revived regulator forum.

A SEBI or stock exchange query is often treated as a compliance event to be managed after it arrives. That reaction is understandable, but structurally weak. A query is rarely confined to the words used in the email it comes with. It is usually a verification exercise: the regulator is testing whether the listed entity’s explanation is supported by a contemporaneous governance trail.

India's gold loan market is glittering brighter than ever. As per Reserve Bank of India (RBI) data released on February 28, the gold loan portfolio saw a jaw-dropping growth of 76.9%...