Sansa Law Desk

The board of directors of every company registered under the Companies Act, 2013 must prepare a Board Report (also referred to as the Directors' Report) and attach it to the financial statements laid before the company at its annual general meeting. Section 134(3) prescribes the mandatory contents of this report, and non-compliance can result in penalties on the company and every officer in default under Section 134(8). The Board Report serves as the primary disclosure docume

Every company registered under the Companies Act, 2013 must file an annual return with the Registrar of Companies (ROC). For small companies and One Person Companies (OPCs), the Ministry of Corporate Affairs (MCA) introduced Form MGT-7A, an abridged version of the full annual return (Form MGT-7), through the Companies (Management and Administration) Amendment Rules, 2021. Form MGT-7A requires significantly fewer disclosures than MGT-7, reducing the compliance burden on smalle

Drafting an effective Anti-Bribery and Anti-Corruption (ABAC) compliance policy is a fundamental governance requirement for any Indian company, particularly those with government-facing operations, regulated sector exposure, or international business activities. The primary legislation governing bribery and corruption in India is the Prevention of Corruption Act, 1988, as amended by the Prevention of Corruption (Amendment) Act, 2018, which introduced corporate criminal liabil

The Delhi High Court, in an order reported on August 20, 2026, has cancelled the trademark registration of DAPLOGIN, held by Razenta Pharma, on a petition filed by Dr. Reddy's Laboratories Limited. The court found that DAPLOGIN is deceptively similar to Dr. Reddy's prior registered trademark DAPLO, both of which are used for dapagliflozin based pharmaceutical formulations prescribed for the management of Type 2 diabetes. The ruling underscores the heightened standard of scrut

The Bombay High Court, in a judgment delivered on August 20, 2026, has upheld the power of the Insolvency and Bankruptcy Board of India (IBBI) to levy a 0.25 percent regulatory fee on the realisable value of approved resolution plans under the Insolvency and Bankruptcy Code, 2016 (IBC). A division bench of Justices Manish Pitale and Shreeram V. Shirsat dismissed a batch of writ petitions in Hazel Mercantile Limited and Others v. Insolvency and Bankruptcy Board of India and Ot

Receiving a show cause notice (SCN) under the Central Goods and Services Tax Act, 2017 is a serious matter that demands a prompt, structured, and well-documented response. Whether the notice is issued under Section 73 (for non-fraud cases), Section 74 (for cases involving fraud, wilful misstatement, or suppression of facts), or the newly introduced Section 74A (applicable to financial years from 2024-25 onwards), the taxpayer's response within the prescribed timeline is the s

Establishing a wholly owned subsidiary (WOS) in India is the most common route for foreign companies seeking a permanent operational presence in the country. Unlike a branch office or liaison office, a WOS is a separate legal entity incorporated under the Companies Act, 2013, with the foreign parent holding 100% of its share capital. The process combines two regulatory frameworks: company incorporation under MCA procedures (primarily through SPICe+), and foreign exchange comp

In a ruling with significant implications for the dual-qualified professional community, the Delhi High Court has held that advocates who serve as insolvency professionals under the Insolvency and Bankruptcy Code, 2016 (IBC) must obtain GST registration and discharge their GST liability under the forward charge mechanism, not the reverse charge mechanism that ordinarily applies to legal services. The judgment, delivered on August 13, 2026 by a Division Bench of Justices Prath

The appointment of independent directors is one of the most consequential governance obligations under the Companies Act, 2013. Listed companies, and prescribed classes of unlisted public companies, must ensure that their boards include a minimum number of independent directors who meet stringent eligibility criteria laid down in Section 149(6). The process involves multiple regulatory touchpoints: obtaining a Director Identification Number, registering with the IICA databank

Force majeure clauses are among the most heavily negotiated provisions in Indian commercial contracts, and for good reason. When performance becomes impossible or impracticable due to events beyond a party's control, the enforceability and scope of the force majeure clause determines whether a party is discharged from its obligations or exposed to breach-of-contract liability. Indian law draws a critical distinction between force majeure (which is a creature of contract) and

On August 20, 2026, a bench of the Supreme Court comprising Justices KV Viswanathan and Arun Palli stayed a Calcutta High Court judgment dated August 4, 2026, which had held that hotels providing cable television in guest rooms are engaged in "communication to the public" under the Copyright Act, 1957, and must therefore obtain a separate copyright licence from the Indian Performing Right Society (IPRS). The stay was granted while hearing a special leave petition filed by Hot

The Supreme Court, in Employees Provident Fund Organisation v. Rachna Jhunjhunwala & Anr. (Civil Appeal No. 9768/2026), has held that claims by the Employees' Provident Fund Organisation (EPFO) towards interest and damages under Sections 7Q and 14B of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, if not determined and finalised before the commencement of the Corporate Insolvency Resolution Process (CIRP), are contingent liabilities that cannot be rais

The Digital Personal Data Protection Act, 2023 (DPDP Act), together with the Digital Personal Data Protection Rules, 2025 (DPDP Rules), has introduced a structured framework for data governance in India. Among its most significant compliance obligations is the Data Protection Impact Assessment (DPIA), which must be conducted by every entity designated as a Significant Data Fiduciary (SDF). Rule 13 of the DPDP Rules, 2025, read with Section 10(2)(c) of the DPDP Act, sets out t

The Ministry of Corporate Affairs (MCA), vide notification G.S.R. 725(E) dated August 12, 2026, has notified the Companies (Indian Accounting Standards) Amendment Rules, 2026. Issued under Sections 133 and 469 of the Companies Act, 2013, and prepared in consultation with the National Financial Reporting Authority (NFRA), these amendments update several Indian Accounting Standards (Ind AS) to align them with evolving international financial reporting practices. The amended rul

On August 19, 2026, the Securities and Exchange Board of India (SEBI) passed an ex-parte interim order against two entities, Copthall Mauritius Investment Limited (a foreign portfolio investor and unit of JPMorgan Chase & Co.) and Mansi Share and Stock Broking Private Limited, for prima facie manipulation of the Sensex closing price during the Closing Auction Session (CAS) on August 13, 2026. The regulator found that both entities had placed large, aggressive, and strategical