AI focus: legal accountability

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

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.


SEBI Settlement Does Not Extinguish Parallel Stock Exchange Action

SEBI Settlement Does Not Extinguish Parallel Stock Exchange Action

SAT’s Decision in Hindustan Foods Limited v. BSE Limited & Anr.

The note analyzes the decision of Securities Appellate Tribunal (“SAT”) in Hindustan Foods Limited v. BSE Limited & Anr., where SAT held that a listed entity’s settlement with Securities and Exchange Board of India does not preclude a recognized stock exchange from subsequently imposing a fine for the same underlying non-compliance where the regulatory framework and the settlement order expressly preserve such action. The note highlights the importance for listed entities of carefully assessing the scope of settlement orders and any express reservations preserving parallel regulatory action.


developments in Indian competition law

Roundup of Recent Developments in Indian Competition Law

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

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.


RERA Roundup: Issue 2

RERA: Issue 2 of 2026

Issue 2 of 2026 of the RERA Roundup covers significant judicial pronouncements, appellate decisions, High Court rulings and regulatory circulars issued between October 2025 and March 2026.

This edition highlights important developments concerning the definition of “allottee” and “promoter,” delayed possession claims, jurisdictional boundaries of RERA authorities, enforcement of RERA orders, conflicts between homebuyer rights and secured creditors, deemed project registration, arbitration vis-à-vis RERA remedies and the evolving treatment of redevelopment and assignment arrangements. The roundup also analyzes key circulars issued by MahaRERA concerning execution of documents and recovery of amounts awarded under RERA orders.


Preferential issue

Preferential Issues, Use of Proceeds Discipline and the Limits of Ratification

The Supreme Court of India in Securities and Exchange Board of India v. Terrascope Ventures Limited (2026 INSC 245). The note analyzes the landmark judgment of Securities and Exchange Board of India v. Terrascope Ventures Limited, where the Supreme Court of India ruled that deviations from the disclosed use of proceeds of a preferential issue cannot be cured by shareholder ratification or post-facto amendments to the company’s memorandum of association. The note outlines SEBI’s affirmation that its regulatory framework protects market integrity and that such breaches cannot be waived by corporate actions.


redevelopment project - essential checks

Essential Checks Before Buying a New Flat in a Redevelopment Project

Given the significant rise in redevelopment activity across Mumbai, this note examines the critical legal, regulatory, and commercial checks that buyers, investors, and financial institutions must undertake before committing to a unit in a redevelopment project. It highlights key considerations under applicable laws such as the Real Estate (Regulation and Development) Act, 2016 and the Maharashtra Ownership Flats Act, 1963, along with practical due diligence measures relating to title, statutory approvals, society consent, and development agreements.


Section 9 of Arbitration Act

Maintainability of Post-award Section 9 Applications

On January 21, 2026, a full bench of the Madras High Court passed an order in a case titledBM Insulationanswering questions of law raised by a single judge on the maintainability of applications filed post-award under Section 9 of the Arbitration and Conciliation Act, 1996, as amended. The reference was made in light of two inconsistent division bench judgements of the Madras High Court inGopuram EnterprisesandK. Puniyamoorthy.The full bench has held that a post-award Section 9 application is maintainable until the proceedings for execution of the arbitral award are concluded.
This note highlights the inconsistencies that existed prior to the full bench decision and the current position of law.


Namaste Korea : January 2026 Edition

This annual roundup of the “Namaste Korea” newsletter provides an overview of key Indian legal and business developments in 2025 relevant to South Korean businesses and other organizations with India-related interests.
The newsletter includes recent legislative developments in India – including on data protection, labour and employment, insurance, and online gaming.
The newsletter also includes sector-specific updates, including in the aerospace and defence, tourism, healthcare, retail, gaming, media and entertainment, manufacturing, electronics, technology, and automotive sectors.


RERA: Issue 1 of 2026

RERA: Issue 1 of 2026

We are pleased to present issue 1 of 2026 of S&R’s RERA Roundup for the period April to September 2025. This publication provides a curated overview of significant legal developments under the Real Estate (Regulation and Development) Act, 2016 (“RERA”), as reflected in recent judgments and passed by various Real Estate Regulatory Authorities and appellate forums/courts across India.
As the regulatory framework continues to evolve, these decisions provide valuable insight into emerging interpretative trends influencing the implementation and enforcement of RERA. This edition is intended to serve as a practical reference for stakeholders navigating the dynamic real estate regulatory landscape.