India: M&A/Private Equity

Every M&A lawyer has, at some point, sat across the table from opposing counsel arguing over a single clause for far longer than its word count would suggest is reasonable. More often than not, that clause is indemnity. It rarely makes headlines the way valuation or deal structure does, but ask any dealmaker what actually gets fought over in the last mile of negotiations, and the answer is almost always the same - who bears the loss when things go wrong and how much of it.

The Competition Commission of India issued multiple antitrust enforcement orders in June 2026, investigating exploitative practices in beauty pageants, penalizing truck associations for price-fixing in Odisha's mineral transport sector, and closing a long-standing pharmaceutical distribution case. The Commission also approved numerous mergers and acquisitions across infrastructure, energy, consumer goods, and technology sectors while addressing allegations of abuse of dominance in real estate, airport trans

The Assessee1 transferred a depreciable capital asset and computed capital gain from it at INR 752.34 Crores in accordance with the provisions of Section 50 of the Income-tax Act, 1961 (‘the Act’).

Reserve Bank of India (“RBI”) through notification no. FEMA 389(1)/2026-RB dated 29.05.2026, published on 05.06.2026, notified the Foreign Exchange Management (Cross Border Merger) (Amendment) Regulations, 2026 (“CBM Amendment Regulations”) to amend the Foreign Exchange Management (Cross Border Merger) Regulations, 2018 (“CBM Regulations”).

The Reserve Bank of India has introduced significant amendments to cross-border merger regulations, replacing NCLT approval requirements with a broader 'Competent Authority' framework. These changes align foreign exchange management rules with the Companies Act 2013, while new payment system authorisation guidelines establish perpetual validity for compliant operators and restrict investments from FATF non-compliant jurisdictions.

Welcome to the latest edition of Fox & Mandal's newsletter highlighting recent developments in India's corporate & commercial laws. In this edition, we examine key aspects of various legal and regulatory changes in the Corporate, Capital Markets, Insolvency, Competition and Real Estate sectors and their impact on the business ecosystem in the country.

Business deals and commercial agreements form the foundation of corporate operations and growth. Whether it involves partnerships/joint ventures, vendor arrangements, investments, mergers, or service contracts...

India’s manufacturing sector is expanding rapidly, supported by policy reforms, strong domestic demand, and its growing role in global value chains. Japanese companies have played a significant role in this growth story, especially in sectors such as automobiles, electronics, chemicals, and precision engineering.

Sophisticated investors investing in India are no longer required to settle for the fund. Increasingly, they want the deal, i.e., the specific, high-conviction opportunity sitting inside the fund’s portfolio.