Blog Posts
-
Dividends Denied: Why InvIT SPV CashFlows Don’t Flow Up
[Simrat Singh is an assistant manager at Vinod Kothari Consultants Pvt. Ltd.] Real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) are often discussed together as parallel innovations in India’s capital markets, reflecting a push towards deploying capital in real estate and infrastructure. Both frameworks were introduced in 2014, share a trust-based structure and are…
-
Barriers to Enforcing a Foreign Judgment in India
[Umakanth Varottil is a Professor of Corporate Law at the National University of Singapore] In contracts documenting cross-border transactions involving an Indian party, it is common for parties to submit to the jurisdiction of a foreign court. However, once a judgment is rendered by such a foreign court, the beneficiary of the judgment faces several procedural…
-
Artificial Intelligence in the Indian Corporate Boardroom: Preserving Fiduciary Accountability in an Algorithmic Age
[Mustafa Rajkotwala works on AI, Strategy and Legal Engineering at NYAI. He is a commercial and technology lawyer based in Mumbai, India.] Artificial Intelligence (AI) is no longer confined to operational functions. It is increasingly deployed in Indian corporate boardrooms to assess risk, monitor compliance, process financial data, and shape strategic decision-making, enabling companies to synthesise information…
-
One Policy to Rule Them All: CCI’s (Mis)application of Discriminatory Conditions in the Intel Case
[Trushil Vyas is a 3rd year B.A. LL.B. (Hons.) student at the National Law School of India University, Bengaluru.] The Competition Commission of India (CCI), in an order dated 12 February 2026, imposed a penalty of INR 27.38 crore on Intel for violating multiple subsections of section 4 of the Competition Act, 2002. The case concerned Intel’s “India…
-
Tiger Global Case: Can the Supreme Court Ensure Predictability in Taxation?
[Samridhi Singh is a student at National Law University, Patna] On January 15, 2026, the Supreme Court of India pronounced its judgment in Authority for Advance Rulings (Income Tax) (“AAR”) v. Tiger Global International II Holdings (“Tiger Global”), creating a further knot in the rope of predictable taxation when it comes to double taxation avoidance treaties (“DTAA”). While…
-
Sovereignty Without Foreclosure: Arguing for a Reconciliatory Framework After SBI v. Union of India
[Soumya Dubey is a 3rd year B.A., LL.B. (Hons.) student at National Law University Odisha] Recently, the Supreme Court delivered its judgment in State Bank of India v. Union of India 2026 INSC 153 (13 February 2026) clarifying that spectrum licences allotted to telecom service providers (‘TSPs’) cannot be treated as ‘assets’ within insolvency proceedings. While the judgment…
-
Illegality and the Limits of Shareholder Ratification
[Umakanth Varottil is a Professor of Corporate Law at the National University of Singapore] The legal structure of a company carries inherent checks and balances. This is because certain corporate actors, usually the board of directors, make decisions that have an impact on company (which is a separate legal personality) and its other constituencies such as…
-
The State of SEBI’s Settlement Mechanism
[Sambit Rath is a 5th year B.A. LL.B. (Hons.) student at Dr. Ram Manohar Lohiya National Law University, Lucknow] In recent years, the Securities and Exchange Board of India’s (“SEBI”) settlement mechanism has come under renewed scrutiny, with judicial observations on its legal implications and debates surrounding the mechanism’s transparency and proportionality. At its core, the settlement…
-
Fraud Prosecution under the Companies Act: Procedural Guardrails
[Tathya Sarkar is a 4th year B.Com., LL.B. (Hons.) student at Institute of Law, Nirma University in Ahmedabad.] The enforcement architecture governing corporate fraud under the Companies Act, 2013 reflects a deliberate legislative attempt to reconcile two competing concerns: the need to deter serious economic misconduct and to prevent the misuse of criminal law in internal…
-
Selective Capital Reduction and Minority Exit: Supreme Court Clarifies the Law
[Bharat Vasani is Senior Advisor – Corporate laws and Maharshi Shah an Associate at the Mumbai office of Cyril Amarchand Mangaldas] Summary: This post examines the Supreme Court of India’s recent decision in Pannalal Bhansali v. Bharti Telecom Limited (2026), which considers the legality of selective capital reduction under section 66 of the Companies Act, 2013. It analyses key questions addressed…