Sansa Law Desk

The Securities and Exchange Board of India (SEBI), vide Notification No. SEBI/LAD-NRO/GN/2026/303 dated 14 July 2026, notified the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2026. Effective from the date of publication in the Official Gazette, these amendments introduce two significant procedural changes for the Alternative Investment Fund (AIF) industry: an exemption from scheme filing fees for the first scheme launched by an AIF, and a reduction of

The Securities and Exchange Board of India (SEBI) has progressively refined the regulatory framework governing Alternative Investment Funds (AIFs) to attract sophisticated capital while maintaining investor protection. One of the most significant developments in this space is the introduction of the Accredited Investors Only AIF (AI-Only AIF) framework, formalised through the SEBI (AIF) (Third Amendment) Regulations, 2025, notified on November 18, 2025. This framework enables

The Insolvency and Bankruptcy Code, 2016 (IBC) has undergone significant reforms since its enactment, with one of the most notable being the introduction of the Pre-Packaged Insolvency Resolution Process (PPIRP) for Micro, Small and Medium Enterprise (MSME) corporate debtors. Introduced through the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021, effective April 4, 2021, PPIRP provides a faster, cost-effective alternative to the regular Corporate Insolvency Resolut

Five regulatory dispatches and five practical guides from the Sansa Law Desk, Bengaluru, for Thursday, 13 August 2026.

Software-as-a-Service (SaaS) agreements are now the dominant model for enterprise software procurement in India. Unlike traditional perpetual license agreements, a SaaS agreement grants the customer a subscription-based right to access and use software hosted on the provider's infrastructure, typically through a web browser or API. The shift from on-premise licensing to cloud-based delivery introduces a distinct set of legal issues: service levels and uptime guarantees, data

When imported goods are sold in India at a price below their normal value in the exporting country, and such dumped imports cause or threaten material injury to the domestic industry, Indian manufacturers can seek relief by filing an anti-dumping duty petition with the Directorate General of Trade Remedies (DGTR). The legal framework for anti-dumping investigations in India is contained in Section 9A of the Customs Tariff Act, 1975, read with the Customs Tariff (Identificatio

The Minimum Alternate Tax (MAT) regime was introduced to ensure that companies reporting substantial book profits and paying dividends to shareholders do not escape their tax obligations entirely through the use of exemptions, deductions, and incentives available under the Income Tax Act. Under Section 115JB (now Section 206 of the Income Tax Act, 2025, effective from April 1, 2026), if the income tax payable by a company on its total income as computed under the normal provi

Introduction The Reserve Bank of India has taken a significant step toward simplifying the regulatory process for institutional investors seeking to acquire meaningful stakes in Indian banks. On July 14, 2026, the RBI published the draft "Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026," proposing a standing approval mechanism that would spare qualifying institutional investors the need to seek fresh clearance every time t

Intellectual property is frequently the most valuable asset class in technology-driven M&A transactions. Whether the deal involves a slump sale, a share acquisition, or a scheme of arrangement under Sections 230 to 232 of the Companies Act, 2013, the buyer must conduct a thorough IP due diligence to assess ownership, validity, enforceability, and risk exposure of the target's intellectual property portfolio. A deficiency in IP due diligence can lead to post-closing disputes,

Introduction The Reserve Bank of India, through a notification dated April 30, 2026, has issued the FEMA (Authorised Persons) Regulations 2026, marking the most comprehensive overhaul of the authorised dealer and money changer licensing architecture under the Foreign Exchange Management Act, 1999. Issued under Section 10 and Section 47 of FEMA, these regulations replace the earlier framework governing authorised persons who deal in foreign exchange, introducing a modernised,

Introduction The Securities and Exchange Board of India (SEBI) has progressively strengthened the environmental, social, and governance (ESG) disclosure framework for listed entities in India. Beginning with the Business Responsibility Report (BRR) and transitioning to the comprehensive Business Responsibility and Sustainability Report (BRSR), SEBI has systematically expanded the scope and depth of sustainability disclosures required of India's largest corporations. With FY 2

Compulsorily Convertible Preference Shares (CCPS) have become the default instrument for venture capital and private equity investments in Indian startups. Unlike ordinary equity, CCPS offer investors a layer of downside protection through liquidation preference and anti-dilution rights while automatically converting into equity shares upon a specified trigger event. For foreign investors, CCPS carry a further advantage: the Foreign Exchange Management (Non-Debt Instruments)

The Goods and Services Tax Network (GSTN) issued Advisory No. 664 on June 17, 2026, announcing a significant change to India's e-Invoice and e-Way Bill ecosystem. Starting August 1, 2026, the Ship-to GSTIN field will become mandatory in all e-Invoice and e-Way Bill API transactions where ship-to details are furnished. This change, originally scheduled for June 15, 2026, was deferred by approximately six weeks following extensive industry representations from trade bodies, sof

Introduction The Insolvency and Bankruptcy Board of India (IBBI) notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2026 on June 1, 2026, with the amendments coming into force on June 2, 2026. These regulations introduce significant procedural changes to the Corporate Insolvency Resolution Process (CIRP) framework under the Insolvency and Bankruptcy Code, 2016 (IBC). The Third Amendment operationalizes several provisions of

Introduction The Bar Council of India (BCI) published the Draft Advocates (Amendment) Bill, 2026, on 18 July 2026, proposing comprehensive amendments to the Advocates Act, 1961. The draft bill, released for public consultation with a deadline of 31 July 2026 for stakeholder submissions, introduces several significant reforms including the first-ever statutory recognition of law firms, a framework for the registration and regulation of foreign lawyers and foreign law firms pra