The Government of India has enacted four Labour Codes with the objective of consolidating central labour legislations. These Codes subsume 29 existing central labour laws and seek to create a uniform and streamlined framework governing wages, industrial relations, social security, and occupational safety and working conditions. The Labour Codes have been made effective from November […]
As regulatory scrutiny sharpens in 2025, companies must remain alert to changes that impact their reporting and procedural obligations. Two important developments, the amendment to the Companies (Accounts) Rules, 2014, and a new circular issued by NSDL underscore the growing focus on transparency, workplace compliance, and corporate governance. New Board Report Disclosures under the […]
The Ministry of Finance on September 12, 2024 introduced the Foreign Exchange (Compounding Proceedings) Rules, 2024 (“2024 Rules”) to address the compounding of offenses under the Foreign Exchange Management Act, 1999 (“FEMA”). These new rules replace the previous Foreign Exchange (Compounding Proceedings) Rules, 2000 (“2000 Rules”), which provided a framework to voluntarily resolve certain FEMA […]
The Securities and Exchange Board of India (SEBI), in its board meeting on December 18, 2024, strengthened the regulatory framework for Small and Medium Enterprises (SME) Initial Public Offerings (IPOs). This step has been taken to safeguard investors’ interests, addressing concerns over companies misusing IPO proceeds by diverting funds to shell entities and manipulating financials […]
On October 14, 2024, the Revenue and Forests Department of Maharashtra introduced significant reforms to the state’s stamp duty structure by releasing Maharashtra Ordinance No. XII of 2024. These amendments to the Maharashtra Stamp Act, 1958, will impact a wide range of documents leading to increased costs for individuals and businesses alike. The Ordinance has […]
The Amendment Through a circular dated January 23, 2024, the Finance Ministry of India has amended Section 43B of the Income Tax Act, 1961 (“IT Act”). Section 43B of IT Act lists certain deductions which can be claimed only upon payment. The amendment has inserted a new sub-clause (h) which states that payments owed […]
The EU AI Act, a groundbreaking development in the regulation of artificial intelligence, recently achieved provisional agreement, marking a pivotal moment in the governance of this transformative technology. Going beyond mere regulation, this comprehensive legal framework is poised to set international standards for AI development and deployment. This article explores the key aspects of the […]
The Ministry of Corporate Affairs has amended certain rules under the Companies Act, 2013 and the Limited Liability Partnership Act, 2009. A brief description of the changes are set out below: Every Company to have a designated person for providing information to the ROC in relation to beneficial interest in shares of the company […]
The Digital Personal Data Protection Act, 2023 (“DPDP Act”) is a new law in India that regulates the processing of personal data. This FAQ provides a brief overview of the DPDP Act, including its key definitions, the rights and duties of data principals and data fiduciaries, and the penalties for violating the Act. What […]