Author: Contributor
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Rethinking Regulation: SEBI’s Proposal for Alternative Investment Funds
[Vanshika Sharma and Divyanshu Kumar are 4th year B.A., LL.B. (Hons.) students at NALSAR University of Law, Hyderabad] The Securities and Exchange Board of India (SEBI) has put forward a consultation paper that aims to create a new breed of Alternative Investment Fund (AIF) schemes restricted to Accredited Investors (AIs) and governed by a lighter-touch regulatory framework. The proposal published in August
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Delineating “Speculative Investors” for the IBC: Safeguarding Rights of the Homebuyers
[Karan Latayan is a Professor of Law and Kavya Lalchandani an Assistant Professor of Law, both at Jindal Global Law School] The Insolvency and Bankruptcy Code, 2016 (“IBC”) was introduced almost a decade back with an intent to revive and aid the sick businesses by resolving their financial distress. The design and purpose of the IBC was not
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India’s Reverse-Flip Wave: Regulatory Breakthroughs and Enabling Frameworks
[Dev Goyal and Manas Divetia are IV Year B.B.A. LL.B. (Hons.) students at Gujarat National Law University, Gandhinagar] India’s reverse‑flip moment is here, with major transactions demonstrating the practical benefits of its improved regulatory framework. Groww’s May 2024 return from Delaware coincided with impressive performance gains for the company, including a tripling of net profit to INR 1,819 crore and substantial
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The Debt Shift: How the RBI is Quietly Reshaping India’s M&A and Competition Landscape
[Himanshu K. Mishra is a fourth year student at the National Law Institute University, Bhopal] On October 1, 2025, the Reserve Bank of India (“RBI”) issued its Statement on Developmental and Regulatory Policies. Quietly buried in items 5 and 6 is a measure that, understated in tone, has a significant potential to fundamentally rewire India’s mergers and
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Proof of Market Manipulation: The Jane Street Case
[Bhavin Patel is a Programme Director and Natasha Aggarwal a Senior Research Fellow at TrustBridge Rule of Law Foundation] On 3 July 2025, the Securities and Exchange Board of India (“SEBI”) issued an ex-parte interim order against the Jane Street group. The order asserted that Jane Street employed manipulative strategies (intraday index manipulation and extended marking-the-close) on the NIFTY and BANKNIFTY
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Decoding RBI’s Overhaul of the Payment Aggregator Directions
[Manas Divetia is a IV year B.B.A. LL.B. (Hons.) student at Gujarat National Law University, Gandhinagar] The Reserve Bank of India’s (“RBI”) 2025 Master Direction on Regulation of Payment Aggregators dated 15 September 2025 consolidates and replaces the fragmented 2020 framework, aligning online, physical point‑of‑sale, and cross‑border aggregation under a single, enforceable code that hardwires escrow architecture, KYC, cyber resilience, and FEMA‑compliant cross‑border
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Why the IBC Bill’s Fix for Waterfall is a Half-Measure?
[Subham Mangla and Dirshi Shah are 4th Year B.A. LL.B (Hons.) and B.B.A LL.B (Hons.) students, respectively, at Gujarat National Law University, Gandhinagar] The order of priority for the distribution of assets during liquidation, colloquially known as the “waterfall mechanism,” is the bedrock of any modern insolvency regime. In India, this critical function is enshrined under section 53 of
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Third-Party Funding as Catalyst for Effective Avoidance Recoveries under IBC
[Naman Aggarwal is a 5th year B.A. LL.B. (Hons.) student at Dr. Ram Manohar Lohiya National Law University, Lucknow] The Insolvency and Bankruptcy Code, 2016 (IBC) has transformed India’s legal regime on addressing corporate distress by prioritising timely revival, value maximisation and fairness to creditors. Since its introduction, the IBC has effected the resolution of stressed assets
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Recent FCPA Policy Changes in the US: Implications for Indian Businesses
[Kartikey Mahajan is a Partner, Bhavya Chengappa a Principal Associate, and Rohan Sanjith a Paralegal, all at Khaitan & Co.] The landscape of U.S. Foreign Corrupt Practices Act (FCPA) enforcement has fundamentally shifted in 2025, as the US Department of Justice (DOJ) implements sweeping policy changes that prioritize American economic interests while refocusing anti-corruption efforts on transnational criminal organizations. These
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Understanding “Undertaking” in the Context of Investment Demergers
[Barsha Dikshit is a Partner and Sourish Kundu a Senior Executive at Vinod Kothari & Co.] The meaning of “undertaking” has been one of the most debated issues under Indian company law and tax law, particularly when it comes to the questions of whether shares or investments can be treated as an “undertaking”. While the term intuitively refers
