India: Financial Services

MARS Equity Dragon Fund VCC, managed by a subsidiary of MUFG Bank, acquired a 2.74% stake in both Krazybee Services Limited and Finnovation Tech Solutions Private Limited, the entities behind the KreditBee lending app. The acquisition included access to commercially sensitive information and observer rights, triggering Competition Commission of India review despite the small stake size.

Novation has existed in Indian over the counter ("OTC") derivative markets for years, but as derivative volumes and market maker turnover grew, the absence of a comprehensive framework spanning asset classes became a genuine gap. In July 2025, the Reserve Bank of India ("RBI") released a draft titled "Reserve Bank of India (Novation of OTC Derivative Contracts) Directions, 2025", seeking to close this gap through a unified set of directions. After consultation with various stakeholders, RBI finalised the framework on 22 September 2026, but abandoned the standalone Directions format.

Since 2020, the portfolio management services (PMS) industry has grown significantly. The assets under management (AUM) rose from INR 18.07 lakh crore in April 2019 to INR 42.61 lakh crore as on 31 May 2026.

The Supreme Court vide its recent order dated September 17, 2026 (“Order”) in the matter of Ayesha Jain v. Amity University, Noida & Ors., [W.P. (C) No. 531/2025] came down heavily on the manner of operation of universities and issued a series of stringent directions requiring greater disclosure by universities, including with respect to their finances, admissions, staffing, grievance redressal and regulatory compliance

This note sets out the decisions in the order they arise, for a foreign group entering GIFT IFSC and for an Indian group setting up a unit there, and states the position as it stands in September 2026. It is written from the perspective of an Ahmedabad law firm advising on GIFT IFSC matters.

The updates examine the Supreme Court’s approach to environmental restrictions in the Taj Trapezium Zone, the continued responsibility of developers to honour contractual possession commitments despite regulatory extensions, the availability of specific performance where contracts provide for a refund, and the evolving insolvency jurisprudence strengthening protections available to homebuyers.

In the world of finance, the term insider trading often evokes images of shady deals and hidden agendas. But what exactly is insider trading? Why is it illegal, and how do laws in India seek to prevent it? Let's dive into this intriguing subject, simplifying the complexities surrounding insider trading laws in India, while exploring the impact of these laws on the financial markets and their role in maintaining fairness.

The Debts Recovery Tribunal, also known as DRT, follows certain rules which relate to the time limits mentioned in the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act or the Act). These limits are not merely procedural requirements and instead are factors which influence the right of the borrower or guarantor depending on the stage of recovery proceedings in question.

India’s Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) were designed as tax-efficient ways to invest in income-producing assets through a regulated, transparent structure. That promise remains, but three successive legislative reforms between 2023 and 2026 have changed the tax structure for these business trusts and their investors.