General Corporate Archives

What the National Sports Governance Act Means for the Board of Control for Cricket in India

Insights & Updates | September 24, 2026 | Practice Area: General Corporate, Regulatory

The Board of Control for Cricket in India (“BCCI”), a private society registered under the Tamil Nadu Societies Registration Act, 1975, controls India’s representation in international cricket, operates the commercially dominant Indian Premier League, domestic cricket in India and commands annual revenues exceeding those of many national sports federations combined.
The BCCI is neither created by statute nor sustained by government grants. While the BCCI does not receive any direct funding or financing by the Government of India or state governments, it does receive indirect public support, including by way of tax exemptions, concessional leases from the relevant state cricket associations and security deployments by government personnel.
This structural anomaly has generated two decades of litigation over whether the BCCI should be subject to public accountability norms, particularly the Right to Information Act, 2005. This note examines whether the enactment of the National Sports Governance Act, 2025 has advanced the debate.

Tata Sons’ Succession: Certain Corporate Law Aspects

Insights & Updates | September 16, 2026 | Practice Area: Corporate Governance and ESG, General Corporate, Regulatory

Tata Sons, the holding company of the Tata group, is undergoing a leadership transition. Its chairman, Natarajan Chandrasekaran, announced on August 12, 2026 that he will not seek re-appointment as chairman. This note focuses on certain corporate law issues arising from such announcement, certain related events and the ensuing transition.

Recalibrating Reasonableness: AI, the Standard of Care and the Future of Legal Accountability

Insights & Updates | September 15, 2026 | Practice Area: Corporate Governance and ESG, Data, General Corporate, Litigation and Arbitration, Regulatory, Technology; Media and Telecommunications

The ‘reasonable person’ standard remains one of the most established and widely applied benchmarks in common law systems, including Indian law. It provides an objective measure of conduct across negligence, contract, criminal law, professional regulation and fiduciary duty. However, the standard rests on certain implicit assumptions related to human cognition – such as finite attention, bounded memory, limited processing capacity and qualified foresight – which the deployment of artificial intelligence (“AI”) materially alters.

AI systems challenge the traditional reasonable-person inquiry because they increasingly (i) operate at a speed and scale that no human actor can match, (ii) act with significant autonomy in the absence of contemporaneous human direction and (iii) involve decision-making processes that are probabilistic and difficult to explain. At the same time, such systems may lack context, common sense and the type of intuitive judgment that the law attributes to reasonable persons. In this regard, a functional analysis sensitive to actual capabilities, control, autonomy and consequence may be necessary.

This note addresses the implications of these developments for corporate governance, fiduciary duties, principal-agent relationships, contractual allocation of responsibility and liability exposure. It reviews emerging regulatory and litigation developments across the European Union, the United Kingdom, the United States and India, and identifies practical governance measures that organizations can consider while legal standards continue to evolve.

Foreign Capital, Technology and Supply Chains

Insights & Updates | July 29, 2026 | Practice Area: Capital Markets, General Corporate, Mergers and Acquisitions, Regulatory, Technology; Media and Telecommunications

Globally, foreign investment is increasingly being evaluated through the lens of technological capability, national security, supply chain dynamics and strategic autonomy. In the current international environment, India seeks to balance openness to foreign capital with the development of domestic capabilities, reduction of strategic dependencies and managing economic engagements with other countries, including China.

As intangible assets increasingly influence enterprise value and competitive advantage in a volatile global economy, businesses have sought to incorporate technology governance, supply-chain resilience, geopolitical risk assessment and intellectual property protection, into investment, M&A and commercial decision-making.

Public Funds and Mandatory Listing: Navigating RBI’s Regulation of the Upper Layer NBFCs

Insights & Updates | July 27, 2026 | Practice Area: Banking and Finance, Corporate Governance and ESG, General Corporate, Mergers and Acquisitions, Regulatory

With effect from July 1, 2026, the Reserve Bank of India has introduced certain amendments to thethe Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025(“Updated Directions”).The Updated Directions,inter alia, bring in a modification to the criteria for determination of Non-Banking Financial Companies (“NBFCs”) in the Upper Layer and replace the erstwhile parametric scoring methodology (based on size, leverage and interconnectedness) with an asset size threshold of INR 1,00,000 crore (Rupees One Lakh crore) (approximately USD 10 billion at an exchange rate of 1 USD to INR 100) and above for identification of an entity as an NBFC in the Upper Layer.
This note discusses the framework for scale-based regulation of NBFCs and the implications of the latest amendments on the NBFCs in the Upper Layer with specific focus on the mandatory listing requirement for such NBFCs.

Roundup of Recent Developments in Indian Competition Law

Insights & Updates | July 15, 2026 | Practice Area: General Corporate, Litigation and Arbitration, Regulatory

The Indian competition law regime has undergone substantial changes over the past few years and is constantly evolving both in terms of regulations as well as the Competition Commission of India’s decisional practice. This note covers key developments in the Indian competition law over the past year.

Compounding of Offences under Indian Corporate Law

Insights & Updates | July 13, 2026 | Practice Area: General Corporate, Litigation and Arbitration, Regulatory

Compounding of offences is a mechanism under Section 441 of the Companies Act, 2013 that enables parties to resolve regulatory non-compliance by paying a certain amount and reflects a legislative intent to provide an alternative to investigation or adjudication for technical or procedural non-compliances while preserving the deterrent function of penal provisions.
This note examines the legal framework and principles governing compounding, clarifies certain misconceptions surrounding compounding and notes certain areas of improvement.

M&A Opportunities in the Indian Insurance Sector: FEMA Rules Notified

Insights & Updates | June 5, 2026 | Practice Area: General Corporate, International Trade, Mergers and Acquisitions

The Government notified the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2026 (“FEMA NDI Amendment Rules”) on May 2, 2026 to operationalize its earlier decision to amend the Consolidated Foreign Direct Investment Policy of 2020 with respect to the insurance sector. The FEMA NDI Amendment Rules complement the changes proposed under amendments previously made to insurance laws and foreign investment rules related to Indian insurance companies.
This note explores key changes introduced pursuant to the FEMA NDI Amendment Rules and discusses potential effects on the M&A market in the Indian insurance sector – such as the possibility of greater management and operational control by foreign investors andthe extension of the liberalized regime to insurance intermediaries driving inbound foreign investment into technology-led insurance infrastructure and ‘embedded’ insurance ecosystems.

Agentic AI: Opportunities, Risks, and Evolving Legal Frameworks

Insights & Updates | May 5, 2026 | Practice Area: Corporate Governance and ESG, Data, General Corporate, Regulatory, Technology; Media and Telecommunications

The rise of ‘agentic’ AI marks a significant juncture in the evolution of digital technologies. Unlike earlier generations of AI, agentic systems exhibit a degree of operational independence that approximates human behavior, including other defining features – such as the ability to interface with and act upon external ecosystems, as well as to participate in complex environments comprising other such agents.

The primary regulatory concern stemming from widespread deployment arises from the enhanced decision-making authority of such systems while determining how objectives are achieved. As a result of such autonomy, foundational assumptions concerning control, causation, and responsibility may prove inadequate.

The question of liability presents further difficulty. Established doctrines in tort, contract, and criminal law rely on foreseeability, intent, and proximate causation. However, agentic AI may disrupt such foundations, giving rise to a responsibility gap, where no single actor exercises sufficient control to justify full legal attribution.

For companies, risk mitigation may need to be internally driven, especially in the absence of comprehensive regulation. This may begin with use-case classification and risk-tiering, ensuring that high-impact deployments receive enhanced scrutiny. Enterprise-level AI governance frameworks – incorporating legal, technical, and business perspectives – may also be necessary, along with continuous oversight through auditing and monitoring.

Keywords: (feel free to let me know if you have any other suggestions. The keywords given by me are not researched, they are just phrases I think may be relevant.)

India’s New Labour Codes: An Overview of Key Changes and Implications

Insights & Updates | April 27, 2026 | Practice Area: Employment, General Corporate

Twenty-four years after the Second National Commission on Labour (2002) recommended simplification of central labour laws and 7 years after the Government of India took the first step towards effecting such simplification when the President’s assent was given to the Code on Wages, 2019, the Government of India brought into force on 21 November 2025 the four comprehensive labour codes, which consolidates India’s erstwhile fragmented labour law regime into: (i) the Code on Wages, 2019; (ii) the Code on Social Security, 2020; (iii) the Industrial Relations Code, 2020; and (iv) the Occupational Safety, Health and Working Conditions Code, 2020 (collectively, the “Labour Codes”).

This note explains the key changes introduced by the Labour Codes to the labour law regime in India and also highlights the areas that remain unchanged pursuant to this overhaul in the labour law regime in India.