India: Financial Services

In May 2026, developments surrounding the proposed GENIUS Act (Guiding and Establishing National Innovation for U.S. tablecoins Act) highlighted the growing policy focus on digital forms of money in the United States

The Securities and Exchange Board of India (SEBI) through the circular HO/19/34/11(2)2026-AFD-POD1/I/13764/2026 dated 16 June 2026 (Circular) has issued guidelines for AIFs seeking ‘Inoperative Fund’ status. The Circular follows SEBI’s consultation paper dated 5 February 2026 titled ‘Flexibility to Alternative Investment Funds (AIFs) in Winding up the Scheme / Surrendering the Registration’, which proposed granting AIFs / VCFs greater flexibility to retain liquidation proceeds beyond the expiry of their permissible tenure in specified circumstances.

In November 2024, Swiggy went public and raised over Rs 11,300 crore. What the market did not know until September 2024, barely six weeks before the subscription opened, was that Swiggy had already spent five months in regulatory review. The company had filed its draft offer document with SEBI in April 2024, received observations, and refined it through two updated versions, all without a single word entering the public domain. No competitor read it.

The Hon’ble Supreme Court of India, in Dineshchand Surana v UCO Bank, 2026 INSC 579 acting through a Bench comprising Justice J.B. Pardiwala and Justice K.V. Viswanathan, examined the interplay between the moratorium provisions under Part III of the Insolvency and Bankruptcy Code, 2016 and proceedings for dishonour of cheque under Section 138 of the Negotiable Instruments Act, 1881.

The Securities and Exchange Board of India (“SEBI”), vide Circular No. CIR/MIRSD/24/2011 dated December 15, 2011, issued comprehensive guidelines governing the outsourcing of activities by intermediaries registered...

SEBI has issued a circular deferring penal consequences for listed entities that fail to meet minimum public shareholding norms during periods of external economic disruption. This regulatory relief measure allows companies additional time to achieve compliance under more favorable market conditions while maintaining the long-term integrity of public shareholding requirements.

The May 2026 edition of Fox & Mandal's newsletter examines the net settlement mechanism for FPIs; revised registration norms for NBFCs; SEBI’s amended disqualification norms for intermediary; Draft National Water Metro Policy, 2026; FEM (Authorised Persons) Regulations, 2026; proposed alignment of the securitisation framework with RBI norms; and other changes in India's corporate, capital markets, infrastructure, and banking sectors

The National Company Law Tribunal, Ahmedabad Bench, in PM Copper Wire & Cables BHD v. Relicab Cable Manufacturing Ltd. (CP (IB) No. 63/AHM/2026, decided on 17th April 2026)...

The webinar, ‘Investing in India – Debt Capital Markets’, hosted by Khaitan & Co, provided foreign investors and their advisors a practical and strategic overview of India’s debt capital markets from a foreign investor’s perspective, covering investment routes, regulatory frameworks, tax considerations and recent reforms.