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India’s Revised IPO Landscape: In-Depth Review of the Securities Contracts (Regulation) Amendment Rules, 2026
Overview of Recent Changes to IPO RegulationsThe Ministry of Finance, through a notification dated 13 March 2026, brought into effect the Securities Contracts (Regulation) Amendment Rules, 2026. This...
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Judicial Interpretation of Public Policy in Indian Arbitration: Evolution from Broad Application to Restrained Approach
1. IntroductionThe Arbitration and Conciliation Act, 1996 (the “Act”) was designed to curtail unnecessary judicial involvement and ensure that arbitral awards are treated as final. Despite this intent...
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Requirement to Pass an Order Under Section 129(3) of CGST Act, 2017 After Payment Under Section 129(5): Is It Still Mandatory?
OverviewSection 129 of the Central Goods and Services Tax Act, 2017 ("CGST Act") governs the detention, seizure, and subsequent release of goods and vehicles found in transit in violation of the Act’s...
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Comprehensive Overview of Section 115BBH: Taxation of Virtual Digital Assets in India
1. Introduction to Section 115BBH and Tax on Virtual Digital AssetsSection 115BBH of the Income Tax Act, 1961, lays out the special provisions regarding taxation on income generated from the transfer...
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Recent Developments in Reassessment, Penalty, and Block Assessment Under the Finance Bill, 2026
1. OverviewThe Income-tax Act, 2025 was enacted to streamline and modernize India’s direct tax law framework. However, further improvements continue with the Finance Bill, 2026, which introduces strat...
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Mandatory Profession Tax Registration for GST Registered Assessees in Maharashtra: Key Provisions and Compliance Guide
IntroductionThe Maharashtra Profession Tax Department has recently ramped up efforts to identify GST-registered assessees who have not obtained mandatory registration under the Maharashtra State Tax o...
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Reimagining Section 245: Jindal Poly Films and the Evolving Dynamics of Class Action Suits in Indian Corporate Law
Introduction: Section 245 Awakens as a Shareholder SafeguardFor years, Section 245 of the Companies Act, 2013 lingered in the background, offering robust statutory protection to minority shareholders,...
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GST Implications on Director’s Remuneration and Rental Transactions: An Updated Analysis for 2025
OverviewDirectors in Indian companies occupy a multifaceted position, frequently acting both as company representatives and, in some cases, as employees. This dual role has led to ongoing questions re...
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Gratuity Under the Social Security Code, 2020: Eligibility, Calculation, and Legal Framework
1. OverviewGratuity is a significant statutory benefit in India, acknowledging employees’ sustained commitment to their employers. It provides financial reassurance at the conclusion of employment, wh...
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Key Evaluations Prior to Purchasing a Flat in a Redevelopment Project
Introduction: The Redevelopment Wave in MumbaiMumbai is currently witnessing a transformative phase, with redevelopment projects becoming the cornerstone of urban renewal. This trend is propelled by l...
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Imposition of Significant Penalty on Company and Directors for Non-Compliance with Secretarial Audit Requirements
Background of the Case(i) Case OverviewM/s. Ardee Industries Limited, located in Mehrauli, Delhi, had outstanding bank loans totaling Rs. 105,70,50,800 during the financial year 2023-24, surpassing th...
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Award After Expiry of Mandate under Section 29A: An Analysis of Judicial Approach and Its Practical Impact
OverviewArbitration as a Mechanism for Efficient Dispute ResolutionArbitration has proven to be a pivotal mechanism for resolving commercial disputes expeditiously, thereby reducing the burden on the...
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Penalties Imposed by ROC for Non-Payment of Annual Debenture Interest: Analysis of the M/s. Z Estates Private Limited Order
Background and Summary of Proceedingsi. Overview of the CaseThe Registrar of Companies (ROC), Cuttack, acting as the Adjudication Officer, issued a penalty order against M/s. Z Estates Private Limited...
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The Shift from Promoter-Led to Promoterless Listed Companies in India
1. Overview: The Shift from Promoter-Led to Promoterless Listed Companies in IndiaIndian listed companies have traditionally operated under promoter-driven ownership, where a single individual or a cl...
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Violation of Tenure Norms for Independent Directors: Penalty Imposed on Company and Key Personnel
Overview of the Case(i) Background and Core Issue:This case revolves around a company’s appointment of an independent director for more than two successive terms, thus contravening the clear restricti...
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Navigating Disputes Against GST Demands under Sections 73 and 74 of the CGST Act: Remedies, Judicial Trends, and Strategic Considerations
1. OverviewThe introduction of the Goods and Services Tax (GST) system was intended to streamline indirect taxation across India. Yet, the frequent issuance of demand notices and adjudication orders u...
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Re-examining Section 16(2)(c) of the CGST Act, 2017: Should the Buyer Bear the Consequences of the Seller’s Default?
Introduction: Promise and Pitfalls of the GST FrameworkThe Goods and Services Tax (GST) system in India was introduced with a vision to ensure uninterrupted flow of input tax credit (ITC) across the e...
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Finance Bill, 2026 and Share Buybacks: Shifting Tax Dynamics – Who Gains, Who Loses?
OverviewShare buybacks have traditionally served as an attractive alternative to dividend distribution for companies, enabling them to repurchase their own shares either via the stock market or throug...
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Overview of Tax Exemption for Foreign Companies Engaging Indian Data Centres (Finance Bill, 2026)
1. Overview of Tax Exemption for Foreign Companies Engaging Indian Data Centres (Finance Bill, 2026)The Finance Bill, 2026 introduces a notable tax relief for foreign companies utilizing data centre s...
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Union Budget 2026-27: Key Direct Tax Reforms Emphasizing Compliance, Clarity, and Litigation Mitigation
Introduction: A New Era of Tax Compliance and CertaintyThe Union Budget 2026-27 introduces sweeping legislative adjustments to the Income-tax Act, aimed at simplifying the tax landscape, reducing the...