The Indian Review of Corporate and Commercial Laws

Hi All Here are the writing prompts for this week for students who want to write articles but are not sure what to write on: 1. The #Competition Commission of India (Commitment) Amendment Regulations 2026, notified on 18 August 2026, substantially revise the timelines under India's relatively new #commitment mechanism. The period for filing a commitment application has increased from 45 to 60 days, the CCI's preliminary consideration period from 7 to 15 working days, and the overall timeline for commitment proceedings from 130 to 180 working days; applicants can also rectify defective applications within 10 working days, with the original fee adjusted on refiling. 2. A 9-judge bench of the Supreme Court of India re-looked at the Bangalore Water Supply's ruling on the definition of #industry under the erstwhile Industrial Disputes Act 1947. The Bench did not have a majority for the CJI's proposed reformulation of the triple test. Four judges, led by the CJI, took the view that the triple test could be recalibrated by giving greater weight to the nature and character of the activity and recognising its commercial/economic character as a relevant consideration. However, the majority did not support that reformulation. 3. The Bombay High Court has held that every decision an internal committee takes on a sexual #harassment complaint is a 'recommendation', whether or not an inquiry was actually held. A ruling that a complaint discloses no sexual element operates as a decision the employer acts on (no further action taken), in substance, a Section 13(2) #PoSH Act recommendation. 4. In M/s Santosh Associate Pvt. Ltd. v. HSIIDC, a two-Judge Bench has referred to a larger Bench the validity of contractual clauses requiring a contractor to make a pre-deposit -- here, 10% of the claim amount -- before it can invoke arbitration. 5. The Taxation and Other Laws (Amendment) Act 2026, assented to on 17 August 2026, amends 3 statutes: the Payment and Settlement Systems Act 2007, the Income-tax Act 2025, and the Finance Act 2026. The bulk of the Act, however, sits in the #Income-tax Act 2025: a substituted Schedule I codifies the conditions under which eligible investment fund activity does not constitute a ‘business connection’ in India (aligning with the erstwhile Section 9A regime), while amendments to Schedule IV introduce a fresh set of exemptions, covering rough diamond trading in notified special zones (new Sl. No. 13F), storage of electronic-goods components in customs-bonded warehouses (13G), and interest and capital gains on Government securities earned by Foreign Institutional Investors and the Bank for International Settlements (13D and 13E). #updates #legal #blog #publication #law

All, here are the writing prompts for this week: 1. Maharashtra Motor Vehicle #Aggregator Rules 2026: The Centre recognises "aggregators" under the MV Act; states write the operational rules. Maharashtra's regime (surge caps, driver-hour limits, cancellation penalties) adds to a growing state-by-state patchwork. 2. RBI (Commercial Banks – Governance) Third Amendment Directions 2026 The RBI's July 30 amendment (effective 1 April 2027) guides how private sector #banks treat and disclose executive pay: #share-linked instruments become part of variable pay, fair-valued via Black-Scholes at grant and expensed, governed by the bank's compensation policy, and #remuneration of WTDs, MD and CEO / CEO and Material Risk Takers must be disclosed annually in the financial statements. 3. Tejas J. Shah v. Mantri Technology Constellations (2026 INSC 746) The Supreme Court holds the Section 14 #IBC #moratorium operates against the corporate debtor alone, not its directors, promoters, guarantors or subsidiaries, so homebuyers' consumer complaints against the individuals proceed regardless. #updates #law #publication #legal

Hi all, here are the writing prompts to enable authors to identify interesting topics to write their next piece on: 1. The #RBI has recently released draft regulations titled the "Guidance on Regulatory Expectations for Data Governance", applicable to commercial banks, NBFCs, cooperative #banks, and other regulated financial entities. The framework treats data as a key organisational resource and lays out expectations for how such entities should manage, protect, and use data across its entire lifecycle, addressing governance structures, data architecture, quality standards, and third-party data-sharing practices. Entities are required to designate specific personnel, including data owners, stewards, and custodians, to improve accountability in #data handling. 2. The Division Bench of the Chhattisgarh High Court dismissed the Letters Patent Appeal filed by an #employer against the Single Judge's order which had quashed the acceptance of the writ petitioner's (employee's) #resignation and directed his reinstatement with arrears of salary and all consequential service benefits. The resignation letter itself recorded that it was being tendered under threat and pressure from two colleagues, yet the management accepted it within two days without conducting any inquiry or verifying its voluntariness. The court held that once the resignation on its face disclosed coercion, the employer was duty-bound to satisfy itself regarding voluntariness before acceptance. 3. The RBI recently released the draft Foreign Exchange Management (Foreign Investment) Rules 2026, proposing to replace the Foreign Exchange Management (Non-Debt Instruments) Rules 2019 under #FEMA. The draft seeks to establish a simplified, principle based and transaction focused framework for foreign investment, while harmonising FEMA provisions with the FDI Policy and clearly separating procedural requirements from sector specific policy conditions. The key changes include expanding eligible investee entities to cover partnerships and proprietary concerns, introducing a clearer definition of foreign controlled entities and linking the concepts of #ownership and #control to sector specific requirements. Content credits: Charvi Devprakash, Arnav Laroia, Bhabesh Satapathy, Deeksha Malik

📢 IRCCL is looking for Student Editors! The Indian Review of Corporate and Commercial Laws (IRCCL) is inviting applications for the position of Student Editor. As a 𝗦𝘁𝘂𝗱𝗲𝗻𝘁 𝗘𝗱𝗶𝘁𝗼𝗿, you will be an integral part of the editorial team, working alongside our practitioner editors. Your role will include: ✅ Reviewing and editing submitted articles ✅ Conducting independent research to support the editorial process ✅ Coordinating day-to-day blog administration — managing incoming emails, and liaising with practitioner editors on submission timelines ✅ Preparing writing prompts that are posted on our LinkedIn page to encourage law students to write on interesting topics This is not a paid opportunity. Who should apply? Law students in 1st-4th years in a 5-year programme or 1st-2nd years in a 3-year programme having some experience with editing processes and/or legal writing can apply. Commitment: This role calls for genuine commitment and reasonable effort, though we do not fixate on a rigid number of hours. What matters most is consistent communication — if you are caught up with other commitments, just let us know. How to apply: Send the following to hr@irccl.in: 📄 A statement of purpose (explaining your motivation for applying) 📄 Your most updated CV Timeline to apply: 𝟭𝟱 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮𝟬𝟮𝟲 Please do not send us follow-ups emails to check the status of your application (we will not be able to respond to them). Once the entire process is concluded, we will respond with the outcome to each of the applications.

#writingprompts 1. The new social security schemes under the Code on Social Security 2020 have been notified. Most contribution-related aspects remain the same, except of course the linkage of computations with the definition of ‘wages’ under the labour codes. The rate of damages has been revised to provide a range of 0.25% per month in case of default period less than 2 months to 1% per month for default period over 4 months, capped at the arrears amount. The regime on partial withdrawal of provident fund accumulations has been simplified as was announced some time back: the 2026 scheme replaces the 1952 scheme's patchwork of purpose-specific advances (each with its own service condition qualifications and caps), with a single framework of three buckets (illness/education/marriage, housing, and special circumstances), a uniform 12-month membership threshold, withdrawal of up to 100% of the “eligible member balance" in each case, and a new 25% minimum balance that must be preserved in the account. 2. In Dr Tapas Kumar Das v. Harish Chandra Research Institute and Others, the Allahabad High Court held that procedural compliance with Section 11 of POSH Act is mandatory. The court set aside the penalty order because statements of complainants were not recorded by the IC; the respondent was not given an opportunity of cross-examination; no opportunity of oral/personal hearing was extended; and findings were not based on specific consideration of the allegations. Limitation under Section 9 (three months + three months extension on recorded reasons) is to be applied, but not mechanically. In cases involving young/vulnerable complainants working under the respondent, delay should not automatically defeat the complaint, given the object of the POSH Act; the IC must pass a reasoned order on whether to condone delay and proceed, or reject at threshold. #legalupdates #law #employmentlaw #publication #blog

#writingprompts All, here are the writing prompts from the last week. 1. The Supreme Court, in Sanjay Dave v. Andhra Bank Limited and Others, recently reaffirmed that once a resolution plan is approved by the committee of creditors (CoC), the successful resolution applicant (SRA) cannot renegotiate, delay, modify, or indirectly withdraw from the plan. The court held that the Insolvency and Bankruptcy Code 2016 (IBC) does not permit reopening of commercial negotiations after the CoC has exercised its commercial wisdom. It reiterated that negotiations conclude upon CoC’s approval, after which the adjudicating authority’s role is limited to examining compliance with Section 30(2) of the IBC. Further, it upheld the CoC’s decision to liquidate the corporate debtor under Section 33 of the IBC, observing that the appellant could not approbate and reprobate by seeking the benefits of the resolution process while refusing to honour the obligations arising from the approved plan. Ultimately, the judgment reinforces that CoC-approved plans are binding and irrevocable to ensure certainty and time-bound insolvency resolutions. 2. The Supreme Court of India recently set aside the Competition Commission of India’s (CCI) order imposing a INR 202 crore penalty on Amazon and suspending its 2019 investment in Future Coupons Private Limited (FCPL) and also quashed the National Company Law Appellate Tribunal’s judgment that had upheld the CCI’s decision. The court directed that any amount deposited or recovered from Amazon be refunded within eight weeks, with 6% annual interest, increasing to 9% if the refund is delayed beyond that period. The dispute arose from Amazon’s INR 1,431 crore acquisition of a 49% stake in FCPL, which indirectly held shares in Future Retail. The CCI had alleged Amazon had failed to disclose that the Future Coupons deal and related agreements, so Amazon in a way had suppressed material facts while obtaining approval from the CCI. The judgment brings to an end a significant regulatory dispute arising from the Amazon–Future Group transaction. Content credits: Divyansh Prasad, Bhabesh Satapathy #law #legal #updates #blog #publication

#writingprompts All, here are the writing prompts from the last week. 1. The Central Government has made effective its rules under the #labour #codes. Notably, for many private sector #employers, some of these rules may not be relevant if the appropriate government for them under the relevant code is the state government. 2. The #Corporate Laws (Amendment) Bill 2026 was introduced in the Lok Sabha on 23 March 2026 and has since been referred to a Joint Parliamentary Committee for detailed examination. It seeks to amend the Companies Act 2013, and the Limited Liability #Partnership Act 2008, with the dual objective of enhancing ease of doing business and strengthening corporate governance. Centered on decriminalization, the bill substitutes criminal liability for procedural offenses with monetary penalties administered through an e-adjudication framework. Complementing this, "small company" classification thresholds are revised upward. ⁠3. The #RBI has proposed, through draft amendment directions, a revised methodology for identifying Upper Layer NBFCs, including Core Investment Companies (#CICs). The existing two-pronged framework, comprising top-ten asset size ranking and parametric scoring, is proposed to be replaced with a single, absolute asset size threshold of INR 1,00,000 crore and above, with government-owned NBFCs now made eligible for Upper Layer classification for the first time, pursuant to an ownership-neutral regulatory approach. CICs placed in the Upper Layer are subject to stringent capital requirements, governance mandates, and group-level risk management obligations. Critically, Upper Layer classification triggers a mandatory listing requirement, with the revised threshold carrying direct implications for large unlisted conglomerate holding structures presently operating as CICs. #law #legal #updates #blog #publication

Hi All As IRCCL turns 8 this month, we are taking a short break between today (1 May 2026) and 5 May 2026. This means that authors can still submit articles during this time, but we will pick up these articles for review only post 5 May 2026. This is the first time that our team has taken a break. We receive close to 10 articles every day including weekends, and our team juggles their work as legal specialists and editorial work, which is very hard. Our endeavour is to take such short breaks at least once every year going forward. We thank everyone who has been part of our journey over the years. Our special gratitude goes to those who understand that while we take time to complete review, the reason behind that is a tough schedule and our attempt to give a thorough feedback on each article (which is the primary reason we set up this platform in the first place). We love contributing to the academic community notwithstanding our hectic schedules. Wishing IRCCL a very happy birthday! Deeksha Malik Founder-Editor

#writingprompts All, here are the writing prompts from the last week: 1. The Supreme Court in SEBI v. Terrascope Ventures has reinforced that diverting #preferential issue proceeds for undisclosed purposes violates #PFUTP Regulations, ruling that post-facto shareholder ratification cannot cure an initial fraudulent intent. Transparency at inception remains non-negotiable for market integrity. 2. The Union Cabinet has amended Press Note 3 of 2020 (#PN3), which had mandated government-route approval for all investments from land border countries (LBCs) to curb opportunistic pandemic-era acquisitions. Recognising that its blanket application adversely affected non-controlling global funds such as PE/VC investors, the amendments introduce two changes: LBC entities holding non-controlling beneficial ownership up to 10 percent, as determined per PMLA Rules at the investor level, may now invest under the automatic route; and a 60-day time-bound approval mechanism is introduced for government-route proposals in specified critical manufacturing sectors, with mandatory DPIIT reporting and effective control retained with Indian residents. The changes are to take effect from the date of the corresponding FEMA notification. 3. The Supreme Court’s judgment in Hamsaanandini Nanduri v Union of India and Others has finally read down the provision that sets a three-month age cap for #adoption leave under the Code on Social Security 2020 (which in turn inherited the provision from the #Maternity Benefit Act 1961). The ruling notably states that henceforth, Section 60(4) shall be read as follows: “(4) A woman who legally adopts a child or a commissioning mother shall be entitled to maternity benefit for a period of twelve weeks from the date the child is handed over to the adopting mother or the commissioning mother, as the case may be.” Content credits: Kunal Gopal, Arnav Laroia, Deeksha Malik

#writingprompts Hi All Following are the writing prompts on key developments from the last few days. 1. While examining the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act 1996, and the Building and Other Construction Workers’ Welfare Cess Act 1996, the Supreme Court of India has held that the constitution of welfare boards and a collection mechanism is a condition precedent for levy and recovery of the applicable welfare cess. 2. In an interesting ruling - one surprising many legal experts - the Supreme Court of India has held that if the principal employer intends to employ regular workmen for the work previously done by contract labour, they must give preference to the erstwhile contract labourers. 3. RBI issued amendments to the priority sector lending framework, which modifies eligibility criteria, reporting formats, and classification standards for regulated lending institutions. The amendments apply to banks and other regulated entities for compliance with priority sector lending targets. 4. SEBI has notified the mutual funds regulations, consolidating provisions relating to governance, disclosures, compliance obligations, and risk management for mutual fund intermediaries. 5. The Kerala High Court has held that the jurisdiction of the CCI is not excluded by the presence of a sectoral regulator. In proceedings relating to alleged conduct involving JioStar, the court permitted CCI to continue its investigation notwithstanding regulatory oversight by TRAI.