BUSINESS LAW DIGEST
IFSCA introduces managing general agents for foreign insurers
The IFSCA’s new rules on managing general agents took effect on 8 June 2026, easing the burden on foreign insurers
CCI seeks comments on draft anti-competitive commitment rules
CCI seeks comments on draft revision of commitment rules to address procedural issues on entities accused of anti-competitive practices
India’s Supreme Court seeks opinions on draft AI rules
The Supreme Court of India is seeking stakeholder views on draft regulations for using AI in the judicature
SEBI issues interim order after probe into INR1tn fraud
India’s SEBI issues an interim order against Rajesh Exports and owner Rajesh Mehta, accusing them of defrauding investors of INR1 trillion
New ICC arbitration rules improve efficiency, case management
The ICC issues new arbitration rules, which took effect on 1 June 2026, to improve efficiency, clarity and case management
New CSR instrument exempts companies from impact assessment
India’s Ministry of Corporate Affairs introduces zero coupon, zero principal instruments to help companies facilitate corporate social responsibility compliance
ED arrests accused in INR30bn investor fraud case in India
The Directorate of Enforcement (ED) in Hyderabad, Telangana state, arrests Nowhera Shaik over alleged fraud of INR30 billion (USD314.42 million) from investors
SEBI rolls out fast-track process for AIF memorandums
The SEBI introduces a fast-track mechanism for processing AIF private placement memorandums to improve the ease of doing business
Adanis agree to pay USD18m settlement in US SEC case
Gautam Adani and his nephew, Sagar Adani, consent to pay an USD18 million penalty in a US Securities and Exchange Commission agreement
RBI seeks comments on revised PPI rules to improve security
The Reserve Bank of India is seeking comments from regulated entities, stakeholders and the public on the prepaid payment instruments (PPIs) draft rules
Mumbai ED seizes properties in INR24.67bn money laundering case
ED authorities seize six properties in Kharghar, Mumbai and Pune owned by Suresh Kute, Archana Kute and other entites in money laundering case
Alleged mastermind behind INR18.25b GST refund fraud arrested
Ahmedabad’s DGGI arrests alleged “mastermind” Kapil Chugh behind INR18.25 billion GST refund fraud
India embraces commercial mining and UCG in historic first
India’s coal ministry seals agreements with bidders to develop four commcercial mines, including the production of underground coal gasification
India’s new online gaming rules, authority become operational
Legislation and rules to provide operational procedures to tackle online money gaming finally took effect on 1 May 2026
Processing changes on the way for insolvency laws in India
India’s president approves the Insolvency and Bankruptcy Code (Amendment) Act, 2026 set to bring in significant regulatory changes
NSE asks trading members to submit reports on AI, ML app use
NSE asks trading members to submit reports on artificial intelligence and machine learning apps and systems used by market intermediaries
India issues temporary tax exemptions on petrochemicals
India issues temporary customs duty exemptions on petrochemical products in domestic sectors to ease supply chain disruptions from West Asia conflict
CBIC sets temporary concessional tax rates for manufacturers
India’s CBIC temporarily reduces customs duty on goods manufactured by eligible units in special economic zones
New Indian govt order improves natural gas infrastructure
Ministry order to streamline gas pipeline framework takes effect, improving infrastructure and ease of doing business in India
IFSCA revises compliance fees for banking, finance entities
India’s IFSCA revises fee structure for entities in the capital markets, banking and finance sectors
India amends guidelines to smooth FDI route for neighbours
India relaxes land border investment rules, allowing up to 10% beneficial ownership via automatic route for FDI inflows
