March 2026 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• SEBI updates ICDR rules with draft abridged prospectus and revised disclosures

• CERC notifies CERC (Terms and Conditions of Tariff) (Second Amendment) Regulations, 2026

• CERC amends Renewable Energy Certificate Regulations, 2026

• RBI notifies Master Directions – Reserve Bank of India (Unique Identifiers in Financial Markets) Directions, 2026

• RBI revises Commercial Banks Credit Facilities Directions, 2026

GOVERNMENT NOTIFICATIONS

• MCA re-issues Advisory for stakeholders for name reservation and incorporation of company and LLP

• MCA issues update for Directors on New DIR-3 KYC Web Form

JUDICIAL PRONOUNCEMENTS

• Supreme Court holds that post-facto shareholder approval cannot legitimise diversion of funds

• Supreme Court holds that the plea of set-off can be raised as a defence in arbitration proceedings even after approval of resolution plan

• Supreme Court bars set-off of security deposit after IBC moratorium

• Supreme Court allows award challenge despite participation without arbitration agreement

• Supreme Court allows tariff consideration of government incentives without defeating purpose

• Supreme Court reiterates that foreign arbitral awards cannot be re-examined on merits at the stage of enforcement

• Delhi High Court allows attachment of pre-PMLA crime proceeds property if possession continues

• Delhi High Court says Order 7 Rule 11 plea doesn’t extend written statement deadline in commercial suits

• Delhi High Court bars withdrawal of admissions via written statement amendment

• High Court of Delhi holds that an objection to territorial jurisdiction cannot be raised at a belated stage, and such objection is deemed to have been waived

• High Court of Bombay affirms that withdrawal with liberty does not confer right to introduce fresh claims.

• APTEL lays down a triple test for an event to qualify as a Force Majeure event.

• CERC proposes revision of congestion charge framework and declines exemption for renewable energy generators

March 2026 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• SEBI revises reporting framework for Alternative Investment Funds (AIFs)

• SEBI issues fresh guidelines for registered Custodians

• SEBI introduces voluntary debit freeze facility to mutual fund folio

• IBBI issued a circular on filing forms to monitor insolvency resolution of personal guarantors under IBC

GOVERNMENT NOTIFICATIONS

• MoF notifies The Securities Contracts (Regulation) Amendment Rules, 2026

• MCA issues Companies (Accounting Standards) Amendment Rules, 2026

• MCA issues Advisory for stakeholders for name reservation and incorporation of company and LLP

• Union Cabinet approves changes in the PN3 guidelines of the FDI policy

• MoP notifies amendment to Rule 3 (Requirements of Captive Generating Plant) of the Electricity Rules, 2005

• Government of NCT Delhi notified Court Fees (Delhi Amendment) Act, 2026 to amend Court Fees Act, 1870 in Delhi

• Government of NCT Delhi amends Shops & Establishments Act to revise working hours and night shift norms.

JUDICIAL PRONOUNCEMENTS

• Supreme Court held that parties have no automatic right to admit additional evidence under Order XLI Rule 27 CPC.

• Supreme Court held that a valuation report is not mandatory for reduction of share capital under Section 66 of Companies Act, 2013

  Supreme Court held that challenge to tribunal composition must be made within Section 16 timelines, else waived under Section 4 of A&C Act

  CERC held that mere construction of internal pooling substation does not shift delivery point of energy agreed between the parties

  CERC directs RECPDCL to reimburse acquisition cost paid by PGCIL for abandoned transmission project

• CERC holds interest not payable on delayed adjustment of excess transmission charges in absence of regulatory provision

• BERC held that parties executing the agreement are bound by the terms of the agreement

• TNERC held that verification of CGP is not a matter in personam but a matter in rem

• TNERC applies principle that APPC comparison must be with preferential tariff of in the same year or corresponding year and limits interest liability to post-clarification period

February 2026 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• IBBI releases discussion paper to strengthen CoC oversight under CIRP Regulations, 2016

• RBI notifies the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026

• IBBI notifies the IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2026

• SEBI mandates disclosure of registered name and registration number on social media.

• SEBI revises norms for the appointment of an independent third-party reviewer/certifier for green debt security

GOVERNMENT NOTIFICATIONS

• MCA issues Companies Compliance Facilitation Scheme, 2026

• MoP extends timeline for submission of comments on the Draft National Electricity Policy, 2026

JUDICIAL PRONOUNCEMENTS

• Supreme Court holds interest cannot be awarded if the contract prohibits it.

• Supreme Court: corporate debtor’s ability to repay is irrelevant for Section 7 IBC admission.

• Supreme Court held that attachment orders under Benami Act cannot be challenged under IBC

• Delhi High Court held that ancestral or inherited property can be attached as equivalent value under PMLA

• CERC determines Buyout Price as an alternate compliance mechanism towards fulfilment of Renewable Consumption Obligation

February 2026 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• SEBI revises pledge creation and invocation rules through depositories.

• RBI issues draft NBFC amendment directions, 2026

GOVERNMENT NOTIFICATIONS

• Finance Minister introduces Finance Bill, 2026 under Union Budget, 2026-27

• MeitY notifies IT Rules Amendment, 2026

JUDICIAL PRONOUNCEMENTS

• Supreme Court of India upholds award despite mandate expiry if extended under Section 29A

• Supreme Court of India holds acceptance of Section 11 order bars later challenge to arbitration clause (pre-2015 regime)

• Supreme Court of India rules High Courts cannot nullify arbitral proceedings under Section 15(2) of the A&C Act

• Supreme Court of India: Section 8(3) PMLA challenge stays Section 8(7) proceedings

• High Court of Delhi applies principle of parity to condone delay in filing written statement before DRT

• APTEL holds timeline for commissioning under PPA has to be reckoned from effective date and not the execution date

• CERC recognises Supreme Court GIB directions and GST rate increase as Change in Law for solar projects

January 2026 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• SEBI Launches SWAGAT-FI for FPIs and FVCIs

• SEBI Introduces Closing Auction Session; Revises Pre-Open Auction Rules

• SEBI Notifies Amendment to NCS Listing Regulations, 2026

• SEBI Notifies LODR (Amendment) Regulations, 2026

• DERC notifies DERC (Group Net Metering and Virtual Net Metering for Renewable Energy) (Seventh Amendment) Guidelines, 2025

• RERC Notifies Electricity Supply Code (Third Amendment) Regulations, 2026

• DERC Invites Comments on Draft Open Access (Second Amendment) Regulations, 2025

GOVERNMENT NOTIFICATIONS

• MoP Notifies Amendments to RoW Compensation Guidelines for Transmission Lines

JUDICIAL PRONOUNCEMENTS

• SC: Publication of Delegated Legislation Essential for Enforceability

• SC: NCLT Cannot Decide Trademark Disputes Unrelated to Insolvency

• Delhi HC: Police Cannot Freeze Bank Accounts Without Magistrate’s Order

• APTEL Awards Compensation for Solar Power Injected During Wrongful Open Access Denial

• CERC: Change in Law & Force Majeure Claims Under PPAs Are Tariff Disputes, Not Arbitrable

• CERC: Jurisdiction Extends to Payment & PPA Disputes in Composite Generation Schemes

January 2026 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• SEBI notifies consequential requirements for amended Merchant Bankers Regulations.

• RBI notifies RBI (Commercial Banks – Credit Risk Management) Amendment Directions, 2026.

• RBI notifies Foreign Exchange Management (Guarantees) Regulations, 2026.

• Compliance reporting formats for Specialized Investment Funds (SIFs) issued by SEBI.

• SEBI simplifies the requirements for grant of accreditation to investors.

GOVERNMENT NOTIFICATIONS

• MCA notifies Companies (Removal of Names) Amendment Rules, 2025.

• MCA issues Directors Appointment & Qualification Amendment Rules, 2025.

• MoP issues draft amendments to Rule 3 of the Electricity Rules, 2005.

JUDICIAL PRONOUNCEMENTS

• SC: Arbitral proceedings commence on receipt of arbitration notice, not on arbitrator appointment.

• Supreme Court holds that mere participation in arbitration does not waive ineligibility of arbitrator.

• NCLT Ahmedabad: Section 9 IBC requires unpaid operational debt on date of consideration.

• MERC directs MSEDCL to allow net metering for rooftop solar consumers availing open access.

• APTEL affirms statutory liability for relinquishment charges upon grant of LTA.

December 2025 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• SEBI mandates periodic disclosures by trustees of special purpose distinct entities to SEBI and Stock Exchanges.

• SEBI introduces modification in the conditions specified for reduction in denomination of debt securities.

• RBI notifies Reserve Bank of India (Commercial Banks – Know Your Customer) Amendment Directions, 2025.

• SEBI mandates certification from NISM for Compliance Officers of Managers of AIFs.

GOVERNMENT NOTIFICATIONS

• MoF introduced a bill on the Securities Markets Code, 2025 in Lok Sabha to consolidate securities laws.

• MoF notifies Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025.

• MCA extends time for filing of Financial Statements and Annual Returns under the Companies Act, 2013.

JUDICIAL PRONOUNCEMENTS

• SC: Arbitral tribunal decides party disputes once arbitration agreement is established under Section 11.

• SC: Errors of law or evidence don’t justify interfering with arbitral awards.

• SC: Section 148 NI Act appellate deposit not limited to company; referred to Larger Bench.

• High Court of Bombay affirms applicability of Section 43(4) of the A&C Act enabling pursuit of severed arbitral claims without limitation bar.

• Delhi HC: Section 138 NI Act inapplicable to cheques dishonoured during CIRP or liquidation.

• High Court of Delhi sets aside arbitral award for ignoring express interest clause in commercial invoices.

• High Court of Delhi while setting aside an arbitral award held that the arbitrator cannot rewrite the contract.

• CERC: Framework for adjusting financial impact of GST rate change and cess abolition on coal.

December 2025 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• SEBI notifies SEBI (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2025.

• SEBI introduces single window gateway for low-risk foreign investors.

• SEBI notifies SEBI (Intermediaries) (Third Amendment) Regulations, 2025.

• SEBI notifies Second Amendment Regulations, 2025.

• Reserve Bank of India issues Consolidated Master Directions.

• RBI issues Amendment Directions to amend Credit Information Reporting Directions, 2025.

• RBI issues Amendment to Commercial Banks Financial Services Directions.

• Reserve Bank of India (Commercial Banks – Credit Risk Management) – Amendment Directions, 2025.

GOVERNMENT NOTIFICATIONS

• MCA revises thresholds for “Small Company”.

JUDICIAL PRONOUNCEMENTS

• SC: Arbitral proceedings terminable only under Section 32(2).

• Supreme Court held that a non-signatory cannot invoke arbitration unless it is a veritable party.

• SC: Arbitrator substitution allowed when mandate ceases to effectuate A&C Act.

• SC: NCLT can forfeit entire amount on purchaser default.

• Bombay HC: SARFAESI transfer incomplete without sale certificate before IBC moratorium.

• NCLT Mumbai: No jurisdiction under Section 60(5) IBC on matters dehors insolvency.

• NCLT Mumbai: Bank barred from claiming extra funds after full payment.

• NCLT Jaipur: Resolution Plan cannot extinguish third-party liabilities.

November 2025 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• SEBI has amended the SEBI LODR Regulations with significant changes in the RPT framework

• SEBI has amended the SEBI (Alternative Investment Funds) Regulations, 2012

• SEBI has issued the SEBI (Informal Guidance) Scheme, 2025

• SEBI has issued terms and conditions for DTs carrying out activities outside the purview of SEBI

• SEBI has specified timelines for submission of information by the Issuer to the DTs

GOVERNMENT NOTIFICATIONS

• Ministry of Labour and Employment notifies and enforces four new labour codes

JUDICIAL PRONOUNCEMENTS

• Supreme Court allows practice of post-facto environmental clearance

• Supreme Court held that EPF dues have priority over secured creditors under SARFAESI Act

• Madras High Court: No de novo remand under Section 37 without reversal on merits.

• Allahabad HC: Sleeping partners jointly liable under NI Act.

• Delhi HC: ED powers under Section 17 PMLA extend to any person holding proceeds or records.

• CERC affirms that ‘non-tariff’ disputes have to be mandatorily referred to arbitration.

• NCLT: No Section 7 petition against guarantor without valid guarantee invocation.

• CCI: BFI actions prima facie violate Sections 3 & 4.

November 2025 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• SEBI amends the SEBI (Mutual Funds) Regulations, 1996

• SEBI amends the ICDR Regulations

• RBI issues Trade Relief Measures Directions, 2025

GOVERNMENT NOTIFICATIONS

• MCA revises Board & Powers Rules, 2014

• IBBI–ED issue standard PMLA undertaking for IPs

• MeitY notifies DPDP Rules, timelines & Board formation

JUDICIAL PRONOUNCEMENTS

• SC upholds that post-award fraud doesn’t affect enforcement under CPC 47

• Supreme Court: Mutual intent to arbitrate is crucial for a valid agreement

• SC: Order rejecting plaint is a decree and appealable

• Bombay High Court: MYT review invalid without hearing affected parties

• SC: Order allowing plaint rejection is a decree and appealable

• SC: Allowing rejection of a plaint is a decree and is appealable

• Delhi HC: Civil suit to cancel a sale deed is not barred by Section 34 of the SARFAESI Act.

• NCLAT upheld that termination of contract for performance default is not barred by moratorium under Section 14 of IBC

October 2025 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• SEBI extends deadline for Angel Funds’ investment disclosure

• SEBI amends the Debenture Trustees Regulations

• SEBI amends LODR norms to revise DT disclosure timelines

• RBI issues draft norms on banks’ capital market exposure, 2025

GOVERNMENT NOTIFICATIONS

• NCT Government issues circular on stamp duty for undervalued homes

• IBBI notifies second amendment to Liquidation Process Regulations, 2025

• IBBI notifies sixth amendment to CIRP Regulations, 2025

• MCA extends deadline and waives fees for annual filings

JUDICIAL PRONOUNCEMENTS

• SC rules pre-litigation mediation not mandatory in ongoing IPR cases

• SC rules preference shareholders not financial creditors under IBC

• SC rules declaratory relief is prerequisite for specific performance

• Delhi HC rules unstamped, unregistered sale agreements unenforceable for arbitration

• Delhi HC rules pending complaint doesn’t make arbitrator de jure ineligible

• Karnataka HC rules mortgaged properties not proceeds of crime under PMLA

• Madras HC rules deliberate non-participation can’t block enforcement of foreign award

• Madras HC recognises cryptocurrency as property protected under Indian law

• CERC launches suo motu case against GNA Energy for insider trading

• NCLAT rules genuine homebuyer claims can’t be rejected for filing delays during CIRP

• APTEL rules commissions can’t use Section 11(2) for future financial impacts under Section 11(1)

• CCI dismisses complaint over use of 'India' by Karate India Organization

October 2025 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• RBI issues draft Borrowing and Lending Regulations, 2025.

• SEBI revises the Block Deal Framework for stock exchanges.

• SEBI eases norms for Related Party Transactions.

GOVERNMENT NOTIFICATIONS

• MOP issues Draft Electricity (Amendment) Bill, 2025.

• CERC issues draft amendment to Renewable Energy Certificate Regulations, 2025.

• MEITY issues Draft Promotion and Regulation of Online Gaming Rules, 2025.

• MCA issues IEPFA Amendment Rules, 2025

JUDICIAL PRONOUNCEMENTS

• Supreme Court upholds arbitration clause despite ineligible named arbitrator.

• Bombay High Court rules fraud allegations don't nullify arbitration agreement.

• Bombay High Court rules insolvency proceedings don’t bar directors’ prosecution under NI Act.

• Bombay High Court upholds directors’ liability in fraud classification under RBI’s 2024 framework.

• Bombay High Court rules pending Section 37 appeal doesn't block Section 11 arbitrator appointment.

• CERC grants in-principle approval for Bikaner–Khetri Transmission Ltd’s security interest.

• NCLAT rules Section 14 Limitation Act benefit not applicable to DRT proceedings.

• NCLT Kolkata grants extension and waives penal interest on balance sale consideration.

September 2025 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• RBI issues Payment Aggregators Regulations 2025

• SEBI revises the framework on Social Stock Exchange

• SEBI smoothens transmission of securities from Nominee to Legal Heir

• RBI issues Digital Payment Authentication Directions 2025

• RBI issues Deceased Customers Claims Directions 2025

GOVERNMENT NOTIFICATIONS

• MoP issues Electricity Amendment Rules 2025

• MoP releases Draft Electricity Amendment Rules 2025

JUDICIAL PRONOUNCEMENTS

• Supreme Court upholds CoC oversight till implementation

• Supreme Court invalidates mismatched cheque notices

• Supreme Court upholds contract over arbitral interest

• Supreme Court reinforces cheque credibility, financial discipline

• Delhi HC allows distinct remedies under RERA, A&C

• Allahabad HC links appeal maintainability to court order

September 2025 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• SEBI amends REIT regulations

• SEBI allows PSU delisting under Delisting Regulations

• SEBI notifies third amendment to InvIT rules

• SEBI amends SBEB rules to let promoter group retain employee benefits

• SEBI amends AIF rules on co-investment and angel funds.

• SEBI amends ICDR Regulations, 2018

GOVERNMENT NOTIFICATIONS

• MCA notifies Companies (CAA) Amendment Rules, 2025

• MNRE issues draft List-III under ALMM for solar wafers

JUDICIAL PRONOUNCEMENTS

• SC: Power tariffs need Regulatory Commission approval

• SC: Lack of documents doesn’t nullify cash loans

• Supreme Court invalidates dual hearing by same bench in writ proceedings

• SC: Distribution companies must share coal shortage costs equally

• SC quashes late cheque dishonour complaint, upholds timeline

• SC: Speculative investors cannot trigger CIRP under IBC

• Delhi HC: Arbitration clause binds guarantors via guarantee deed

• Delhi HC: Debarment doesn’t extend to group firms without notice

• Karnataka HC: Third-party claims not allowed under Section 14 of SARFAESI

August 2025 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• RBI Issues KYC Rules Amendment 2025

• SEBI Clarifies Cybersecurity Framework 2025

GOVERNMENT NOTIFICATIONS

• Online Gaming Regulation Bill Passed 2025

• MCA Notifies Companies Incorporation Rules 2025

• MoP Revises Hydro Capex Threshold

• DPIIT Issues Cross Recessed Screws Order

• GERC Publishes Renewable Energy Regulations 20255

• DERC Issues Draft Tariff Amendment 2025

• DERC Issues Draft Business Plan Amendment

JUDICIAL PRONOUNCEMENTS

• Supreme Court Clarifies on Change in Law

• SC: Pleadings Key for Additional Evidence

• Supreme Court on Unsigned Arbitration Agreements

• Supreme Court Limits Regulatory Jurisdiction

• SC Ruling on Proprietorship Representation

• HC: Section 11 Not Maintainable After Section 8

• Bombay High Court on Review Jurisdiction

• Karnataka High Court Clarifies on Pleading Amendments

• Allahabad High Court on A&C Act Interest

Sagus Legal Newsletter

August 2025 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• SEBI Updates Appeal & Penalty Review for MIIs

• SEBI Introduces Joint Annual Inspection Policy for MIIs

• SEBI Revises Framework for InvIT Conversion

• SEBI Removes Transaction Charges for MF Distributors

• SEBI Notifies FPI (Amendment) Regulations, 2025

• RBI Notifies Non-Fund Based Credit Facilities Directions, 2025

• RBI Notifies Co-Lending Directions, 2025

GOVERNMENT NOTIFICATIONS

• MNRE Amends Procedure for Listing Wind Turbine Models

• MoP Issues Draft Energy Conservation Rules, 2025

• Lok Sabha Introduces IBC (Amendment) Bill, 2025

JUDICIAL PRONOUNCEMENTS

• SC: Parties to Trust Disputes Estopped from Opposing Arbitration Award

• SC: Exclusive Jurisdiction Clause Determines Arbitration Seat

• SC Reiterates Jurisdiction for Cheque Dishonour under NI Act

• SC: Allegations of Simple Fraud Are Arbitrable

• SC Directs Time-Bound Liquidation of Regulatory Assets by SERCs

• Delhi HC: Timeline for Filing Defence under ICA Rules is Directory

• Delhi HC: Injunction on Board/General Meetings for Director Removal Impermissible under A&C Act

• Allahabad HC: Sec.14 SARFAESI Proceedings Continuation of Sec.13(4); Limitation Runs from Last Action

• CCI Equates Sec. 26(2A) of Competition Act with Res Judicata

• APTEL Allows DVC to Recover 50% Arrears in WB Tariff Dispute

Sagus Legal Newsletter

July 2025 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• SEBI Issues Guidelines on Monitoring Investment Threshold for Specialized Funds

• SEBI Issues Circular on NRI Position Limits in Derivatives

• RBI notifies RBI (Investment in AIF) Directions, 2025

GOVERNMENT NOTIFICATIONS

• Ministry Notifies 2025 Amendment to Employees’ Deposit‑Linked Insurance Scheme

• Ministry of New & Renewable Energy Amends Wind Turbine Model Inclusion Procedure

• DPIIT Unveils Draft Patent (Amendment) Rules, 2025

JUDICIAL PRONOUNCEMENTS

• SC Rules Limitation Act Doesn’t Apply to MSMED Act Conciliation

• SC Rules Doctrine of Merger Doesn’t Apply to Fraudulent Judgments

• Delhi HC: Civil Suit Not Maintainable if Arbitration Clause Covers Dispute

• Kerala HC: Newspaper Notice Alone Not Enough for Dismissal Order Service

• APTEL Upholds IPCTPL’s Deemed Distribution Licensee Status Under Electricity Act 14(b)

Sagus Legal Newsletter

July 2025 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• RBI notifies RBI (Pre-Payment Charges on Loans) Directions, 2025

• IBBI notifies Fifth Amendment to Insolvency Resolution Process Regulations, 2025.

GOVERNMENT NOTIFICATIONS

• MCA notifies Amendment to Listing of Equity Shares Rules, 2025

• MCA notifies CSR Policy Amendment Rules, 2025

JUDICIAL PRONOUNCEMENTS

• Delhi HC: Power under Section 151 CPC must be used with caution

• Delhi HC clarifies amendment of Section 34 petitions beyond limitation.

• Delhi HC: Arbitrator can't fix seat if exclusive jurisdiction clause exists.

• Delhi HC: TDS deposit extends limitation under Limitation Act, 1963.

• NCLAT: Unadjusted trade advance is financial debt under Section 5(8) of IBC.

• NCLAT: Section 10A of IBC doesn't bar valid debt restructuring.

• APTEL sets aside WBERC order for violation of principles of natural justice

Sagus Legal Newsletter

June 2025 (Part-II) Edition

REGULATORY AND POLICY UPDATES

• RBI (Electronic Trading Platform) Directions, 2025

• CERC issues Draft CERC (Power Market) (First Amendment) Regulations, 2025

• SEBI’s board meeting focused on optimizing regulations for ease of doing business

• RBI (Project Finance) Directions, 2025

• CERC issues CERC (Deviation Settlement Mechanism and Related Matters) (Second Amendment) Regulations, 2025

• CERC notifies CERC (Sharing of Inter-State Transmission Charges and Losses) (Fourth Amendment) Regulations, 2025

• SEBI extends application of portfolio balancing timelines to passive breaches in mutual fund schemes

GOVERNMENT NOTIFICATIONS

• MEITY releases business requirement document for consent management under the DPDP Act, 2023

• MoP issues Guidelines for designating a Company as Renewable Energy Implementing Agency

• MoP issues Draft Amendment to the Guidelines for TBCB process for procurement of power from grid connected power projects

• MCA issues public notice to invite comments on draft Companies (Meetings of Board and its Powers) Amendment Rules, 2025

JUDICIAL PRONOUNCEMENTS

• High Court of Delhi Clarifies Enforceability of PostTermination Non-Compete Clauses

• High Court of Delhi upholds Dismissal of an application Under Order VII Rule 11 of CPC and Clarifies Applicability of Arbitration Clause

• The High Court of Calcutta held that impleadment of an Arbitrator is not permissible under Section 36(2) of the A&C Act without prima facie case of fraud or corruption

• NCLT held that NeSL Certificate not mandatory if debt and default are established through other reliable evidence

Sagus Legal Newsletter

June 2025 (Part-I) Edition

REGULATORY AND POLICY UPDATES

• Sagus Legal Newsletter

• SEBI introduces new provisions for margin obligations

• SEBI extends relaxation for hard copy requirements for non-convertible securities

• SEBI introduces Framework for ESG Debt Securities

• SEBI mandates verified '@valid' UPI handles for fund collection by SEBI-registered intermediaries

GOVERNMENT NOTIFICATIONS

• MCA Notifies revised MGT-7, MGT-7A, MGT-15 Forms

• MCA notifies revised forms CRA-2 and CRA-4

• MCA notifies revised Form GNL-1

• CPCB Issues Draft Guidelines for storage and handling of Solar Photovoltaic Modules

• MoP issues amendment to ISTS Bidding Documents

• CCPA Issues Advisory on Dark Patterns for E-Commerce

• MCA notifies revised form AOC-4

• MoP Issues Conditions for ISTS Charges Waiver

• Ministry of Finance Releases FDI Amendment Rules for amending rules for acquisition of equity instruments

• MoP issued Draft Electricity (Amendment) Rules, 2025

JUDICIAL PRONOUNCEMENTS

• Supreme Court rules Developers not liable to pay interest on the personal loans taken by buyers

• Supreme Court holds that right under Article 19(1)(g) includes right to shut down business

• NCLAT holds that application under Section 95 of IBC would be barred in case of pending proceedings

Sagus Legal Newsletter

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