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

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Believe In Yourself: Shruti Kanodia of Sagus Legal To Next-gen Leaders

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Lenskart leads $2.25 million funding round in location intelligence startup GeoIQ

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Safeguard Duty Extension Deemed as Change in Law for Tata’s Solar Project in Maharashtra

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