S&R Associates

M&A Opportunities in the Indian Insurance Sector: FEMA Rules Notified

The Government notified the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2026 (“FEMA NDI Amendment Rules”) on May 2, 2026 to operationalize its earlier decision to amend the Consolidated Foreign Direct Investment Policy of 2020 with respect to the insurance sector. Th

Recent Representation: BW LPG

S&R Associates represented BW LPG, the world’s leading owner and operator of LPG vessels

Investing in India: An Overview of Legal Considerations – 2026 Checklist

Foreign investment continues to play a crucial role in India’s economic growth, with total FDI inflow (since April 2000) crossing USD 1.14 trillion. FDI received during April 2024-March 2025 (the highest in last three financial years) and April-December 2025 represent notable year-on-year increases.

Compilation of Regulatory Updates in Relation to AIFs

In the recent past, regulatory bodies have issued a series of circulars, notifications and amendments reshaping the structuring, operation, reporting and compliance framework for alternative investments funds in India. To help sponsors, managers, trustees and investors keep pace with these developme

Recent Representation: Freight Commerce Solutions (Freight Tiger)

S&R Associates represented Freight Commerce Solutions (Freight Tiger)

Recent Representation: TSF Group companies

S&R Associates is representing Wheels India and Brakes India

Recent Representation: Citigroup

S&R Associates advised on International Holding Company PJSC's

Agreement for Sale under the Real Estate (Regulation and Development) Act, 2016

This note examines the statutory framework governing agreements for sale under the Real Estate (Regulation and Development) Act, 2016 and the directions issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA). It discusses the prescribed format of the agreement for sale, mandatory and

Recent Representation: The broker

S&R Associates represented the broker

The Regulatory Framework for Virtual Power Purchase Agreements in India

Final guidelines governing Virtual Power Purchase Agreements (“VPPAs”) in India, issued by the Central Electricity Regulatory Commission (“CERC”) in December 2025 further to stakeholder consultation and hearings on draft guidelines published in May 2025, can now be read in conjunction with a detaile

[S&R AI Focus] Agentic AI: Opportunities, Risks, and Evolving Legal Frameworks

The rise of ‘agentic’ AI marks a significant juncture in the evolution of digital technologies. Unlike earlier generations of AI, agentic systems exhibit a degree of operational independence that approximates human behavior, including other defining features – such as the ability to interface with a

Recent Representation: Automotive Manufacturers Private Limited

S&R Associates represented Automotive Manufacturers Private Limited

S&R Associates Announces New Counsel and Principal Associates

S&R Associates Announces New Counsel and Principal Associates

India’s New Labour Codes: An Overview of Key Changes and Implications

Twenty-four years after the Second National Commission on Labour (2002) recommended simplification of central labour laws and 7 years after the Government of India took the first step towards effecting such simplification when the President’s assent was given to the Code on Wages, 2019, the Governme

Recent Representation: Aéroports de Paris (Groupe ADP)

S&R Associates is representing Aéroports de Paris (Groupe ADP)

Preferential Issues, Use of Proceeds Discipline and the Limits of Ratification

The Supreme Court of India in Securities and Exchange Board of India v. Terrascope Ventures Limited (2026 INSC 245) The note analyzes the landmark judgment of Securities and Exchange Board of India v. Terrascope Ventures Limited, where the Supreme Court of India ruled that deviations from the disclo

Recent Representation: Modern Safety Glass

S&R Associates represented Modern Safety Glass

Treatment of Spectrum Usage Rights in Insolvency: The Supreme Court’s Decision in State Bank of Indi

The Insolvency and Bankruptcy Code, 2016 (“IBC”) is intended to be sector agnostic and to provide a uniform framework for corporate insolvency resolution and liquidation for diverse businesses regardless of their industry sector. Nevertheless, there are challenges under the IBC framework for compani

Recent Representation: Belrise Industries Limited

S&R Associates represented Belrise Industries Limited

Indian Budget 2026-27: Tax Incentives for Data Centres

India's Union Budget 2026-27 has introduced targeted tax incentives for the data centre industry, including a tax holiday until 2047 and a safe harbor regime with a 15% margin for domestic data centre service providers. These reforms are expected to significantly influence how foreign companies proc

Recent Representation: IRB Infrastructure Trust

S&R Associates represented IRB Infrastructure Trust

Recent Representation: Pilani Investment and Industries Corporation Limited

S&R Associates represented Pilani Investment and Industries Corporation Limited

M&A Transactions and Market Rumors

The M&A market in India is characterized by frequent media leaks with such leaks carrying significant real-world consequences for the parties involved, ranging from disrupted negotiations to accelerated timelines and increased deal premiums. Against this backdrop, this note examines a recent decisio

Accredited Investors and AIFs

SEBI introduced a formal framework for accredited investors through amendments to the AIF Regulations on August 3, 2021, the operational contours of which continue to evolve through subsequent regulatory guidance and market practice. This note aims to provide a comprehensive overview of the eligibil

Strategic Land Conversion: Navigating the Shift from Agricultural to Non-Agricultural Use

The process of land acquisition and laws governing use of land has posed significant challenges for prospective buyers in Maharashtra. The Government of Maharashtra has recently notified the Maharashtra Land Revenue Code (Second Amendment) Act, 2025 bringing in significant reforms to the framework g

Essential Checks Before Buying a New Flat in a Redevelopment Project

Given the significant rise in redevelopment activity across Mumbai, this note examines the critical legal, regulatory, and commercial checks that buyers, investors, and financial institutions must undertake before committing to a unit in a redevelopment project. It highlights key considerations unde

A Review of Key Developments in India’s Merger Control Regime: 2024 - 2025

India’s merger control regime has witnessed major developments since late 2024, impacting the process for assessment and notification of combinations under the Competition Act, 2002. This note provides a comprehensive overview of the key updates in India’s merger control laws between 2024 and 2025,

Liberalizing India’s External Commercial Borrowings Framework: Key Changes Under the 2026 Amendments

The Reserve Bank of India (“RBI”) has made significant changes to the external commercial borrowings (“ECB”) regulations through the issuance of the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026 (“Amended Regulations”) on February 16, 2026, which amend the F

Acquisition Finance by Banks in India

The Reserve Bank of India has introduced amendment directions to the Reserve Bank of India (Commercial Banks - Credit Facilities) Directions, 2025 and the Reserve Bank of India (Commercial Banks - Concentration Risk Management) Directions, 2025 (“Amendment Directions”), to permit banks to extend cre

Maintainability of Post-award Section 9 Applications

On January 21, 2026, a full bench of the Madras High Court passed an order in a case titled BM Insulation answering questions of law raised by a single judge on the maintainability of applications filed post-award under Section 9 of the Arbitration and Conciliation Act, 1996, as amended. The referen