The Bombay High Court has clarified that for determining whether an employee is engaged in a supervisory capacity under the Sales Promotion Employees (Conditions of Service) Act, 1976, the key consideration is the nature of duties performed, not the employment status of the persons being supervised. The Court emphasized that even supervision over third-party personnel […]
The Gujarat Stamp (Amendment) Act, 2025 (“Amendment Act”), amends the Gujarat Stamp Act, 1958 (“Principal Act”), marking a significant reform in the state’s fiscal governance. This legislation responds to the evolving dynamics of corporate and real estate transactions, introducing robust mechanisms to enhance compliance, streamline processes, and align with modern commercial needs. Through this article, […]
In a recent judgment in Piramal Capital and Housing Finance Limited vs. 63 Moons Technologies Ltd & Others, the Supreme Court has clarified key aspects relating to PUFE (Preferential, Undervalued, Fraudulent, Extortionate) transactions under the IBC. The Court upheld the Resolution Plan approved by the NCLT, affirming that the distribution of recoveries from proceedings under […]
We are pleased to share with you the link to our newsletter on the latest GST and Customs Developments. The newsletter covers recent judgments and regulatory updates in the GST and Customs space in India. We trust that you will find the same useful. Looking forward to receiving your valuable feedback. For any clarification, please […]
In the April edition of our monthly newsletter “Legalaxy”, our team analyses some of the key developments in securities market, banking and finance, labour, pharmaceutical and MSME. Below are the key highlights of the newsletter: SEBI UPDATES SEBI amends the PIT Regulations to expand the definition of ‘UPSI’ IPOs & rights issue: navigating the post-ICDR […]
Securities and Exchange Board of India (“SEBI”), in its 209th board meeting dated March 24, 2025, has addressed the compliance challenges faced by Category II Alternative Investment Funds (“Category II AIFs”) due to the recent amendment to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”). Currently, Category II AIFs are required […]
