Telangana High Court quashes GAAR proceedings in absence of an ‘impermissible avoidance arrangement’
The principles of General Anti Avoidance Rule or GAAR are incorporated under Chapter X-A of the Income Tax Act, 1961 (IT Act).
Ergo Update
Private Equity and Sports – Is it a match?
The National Sports Policy 2025 (NSP 2025) was recently approved by the Union Government with aptly reflects India’s socio-economic context. The NSP 2025 has been introduced in the backdrop of India bidding to host 2036 Olympic Games and 2030 Commonwealth Games.
Supreme Court mandates Environmental Clearance is necessary for all large scale building and construction projects
In a landmark decision in Vanashakti v Union of India, the Supreme Court has held that a prior Environmental Clearance (EC) is mandatory for all large-scale building and construction projects, including educational institutions, under the Environmental Impact Assessment (EIA) Notification, 2006.
FREE-AI Committee Report: RBI directions on implementation of AI in financial services
In light of increasing interest in Artificial Intelligence (AI) usage in myriad industries, including the financial sector, the Reserve Bank of India (RBI) recently released its report on the ‘Framework for Responsible and Ethical Enablement of AI’ (FREE-AI).
SEBI’s consultation papers on flexibilities provided to Large Value Funds and the introduction of a separate scheme for Accredited Investors
SEBI has released consultation papers seeking public feedback on proposed regulatory reforms for Large Value Funds and Accredited Investor frameworks within the Alternative Investment Fund regime.
Decoding the IBC (Amendment) Bill 2025: Key reforms and implications
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 was recently introduced in the Lok Sabha on 12 August 2025 (the “Bill”) and is presently under review by the Select Committee.
IFSCA notifies the Third-Party Fund Management Framework in IFSC, Gift City
On 24 July 2025, the International Financial Services Centres Authority (IFSCA) notified the International Financial Services Centres Authority (Fund Management) (Amendment) Regulations, 2025 operationalising the third-party fund management framework, allowing global fund managers to piggy-back on the platform operated by existing fund management entities.
SEBI’s digital accessibility standards for regulated entities: key takeaways
In a notable development, the Securities and Exchange Board of India (SEBI) has issued a circular dated 31 July 2025 (Circular) to mandate certain digital accessibility standards for regulated entities (REs).
Delhi exempts establishments from few Work Time provisions, doing away with Permission Requirement
By way of a notification dated 7 August 2025, the Lieutenant Governor of the National Capital Territory (NCT) of Delhi has exempted all establishments other than liquor shops from Sections 14, 15 and 16 of the Delhi Shops and Establishments Act, 1954 (Delhi S&E Act), which marks an important shift from a permission-based regime that has existed thus far.