Corporate Law

The Ministry of Corporate Affairs (MCA) released a draft notification on 8 April 2026 proposing the Companies (Incorporation) Amendment Rules, 2026, which would amend the Companies (Incorporation) Rules, 2014. If finalized, these amendments would constitute the largest single reduction in incorporation-related paperwork since the Companies Act, 2013 came into force. The draft is open for public consultation through the MCA's e-consultation module, with a deadline of 9 May 202

The Corporate Laws (Amendment) Bill, 2026 was introduced in Lok Sabha on March 23, 2026. The Bill proposes amendments to both the Companies Act, 2013 and the Limited Liability Partnership Act, 2008. It covers a wide range of reforms including decriminalisation of minor offences, changes to corporate social responsibility thresholds, recognition of new employee compensation instruments, restructuring of the National Financial Reporting Authority (NFRA), and the creation of a n

The role of independent directors on Indian company boards has evolved from a governance formality to a position carrying genuine personal liability. Recent enforcement actions by the Securities and Exchange Board of India (SEBI) and rulings by the Securities Appellate Tribunal (SAT) have established that independent directors can be held personally liable for financial misconduct at companies where they serve, even without direct involvement in day-to-day operations. This re

The Ministry of Corporate Affairs (MCA) has initiated a consultation on sweeping filing reforms aimed at transitioning India's corporate compliance framework to a data-centric, technology-driven model. Released as part of the Viksit Bharat 2047 initiative, the consultation paper proposes fundamental changes to how companies, limited liability partnerships (LLPs), and other entities interact with the MCA throughout their lifecycle, from incorporation to exit. The proposed refo

On April 15, 2026, the Insolvency and Bankruptcy Board of India announced a significant regulatory update by issuing discussion papers proposing amendments to six core insolvency regulations. The proposed amendments cover the Corporate Insolvency Resolution Process Regulations, Liquidation Process Regulations, Pre-Packaged Insolvency Resolution Process Regulations, Information Utilities Regulations, Inspection and Investigation Regulations, and Grievance Handling Procedure. T

The Supreme Court ruling in ICICI Bank Limited v. Era Infrastructure (India) Limited (2026 INSC 201) establishes that creditors may initiate simultaneous Insolvency Resolution Processes (CIRP) against both a principal corporate debtor and its corporate guarantor. The Court held that liabilities are co-extensive, meaning guarantors are jointly liable with principals for the same obligations. The Insolvency and Bankruptcy Code permits such concurrent processes, and multiple ins

The Insolvency and Bankruptcy Code (Amendment) Act 2026 introduces extensive reforms strengthening creditor protections and resolution mechanisms. The amended framework establishes a Creditor-Initiated Insolvency Resolution Process (CIRP) creating direct mechanisms for secured creditors to initiate insolvency proceedings without time-consuming prerequisite steps. The reforms expand the look-back period for avoidance transactions, tighten admission timelines, and mandate autom

Every private limited company registered under the Companies Act 2013 must file annual compliance documents with the Registrar of Companies (ROC). Missing these deadlines triggers penalties, late fees, and if ignored can lead to strike-off proceedings and director disqualification. Understanding these obligations is critical. Key Annual Filing Requirements Two primary forms must be filed annually: Form MGT-7 (Annual Return) and Form AOC-4 (Financial Statements). For small c

Minority shareholders in Indian companies are frequently exposed to conduct by majority shareholders or management that prejudices their interests, dilutes their holdings, or excludes them from the economic benefits of the enterprise. The Companies Act 2013 addresses this through Sections 241 to 246, which provide remedies for oppression and mismanagement. These provisions empower aggrieved members to approach the National Company Law Tribunal for relief, including orders tha

The Ministry of Corporate Affairs has significantly expanded the scope of the fast-track merger and demerger framework under the Companies Act, 2013 by amending the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The amendment, notified on September 4, 2025, widens the categories of companies eligible for fast-track mergers and, for the first time, explicitly extends the fast-track route to demergers. This reform is expected to reduce the burden on the Na

The National Company Law Tribunal, Allahabad Bench, has approved Adani Enterprises Limited's resolution plan for Jaiprakash Associates Limited under Section 31 of the Insolvency and Bankruptcy Code, 2016. The oral order, pronounced on March 17, 2026, clears the way for one of the largest insolvency resolutions in India's history, valued at approximately Rs 15,000 crore. The plan received approximately 93 per cent approval from the Committee of Creditors, significantly exceedi

The Ministry of Corporate Affairs has notified the Companies (Appointment and Qualification of Directors) Amendment Rules, 2025, effective from March 31, 2026, which replace the annual DIR-3 KYC filing requirement for directors with a triennial filing cycle. Under the amended framework, every individual holding a Director Identification Number (DIN) as on March 31 of a financial year is now required to file the prescribed KYC form once every three consecutive financial years,

The Insolvency and Bankruptcy Board of India has issued a circular dated April 1, 2026, notifying the International Valuation Standards (IVS) as the applicable standards for all valuations conducted under the Insolvency and Bankruptcy Code, 2016. The IVS, issued and updated by the International Valuation Standards Council (IVSC), will apply with immediate effect to valuations of assets, businesses, and liabilities undertaken during corporate insolvency resolution processes, l

On 25 February 2026, the Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2026. These amendments target one of the most contentious aspects of the Corporate Insolvency Resolution Process (CIRP): the valuation of the corporate debtor's assets. By redefining fair value, mandating dual sets of registered valuers, introducing a coordinating valuer me

A significant question in Indian insolvency law has been how far the jurisdiction of the National Company Law Tribunal (NCLT) extends under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. Can the NCLT determine, in the course of a Corporate Insolvency Resolution Process, who owns a trademark that was disputed before the insolvency began? In Gloster Limited v. Gloster Cables Limited and Others, decided on 22 January 2026 and reported as 2026 INSC 81, the Supreme Cou