Insights
Boardroom and corporate
Notes on Indian law filed under Boardroom and corporate. The practice itself is described on its own page.
A ceiling price for a scheduled drug is the average price to retailer plus a 16 per cent margin, and an overcharge is deposited with interest
A ceiling price for a scheduled formulation under the Drugs (Prices Control) Order, 2013 (DPCO), made under section 3 of the Essential Commodities Act, 1955, is the simple average of the prices to retailer of every brand and generic version with a market share of at least one per cent of total market turnover, plus a retailer margin of 16 per cent, revised each 1 April by the annual wholesale price index (WPI), which for the revision from 1 April 2026 was 0.64956 per cent, the index for 2025 over 2024.
A United States company investing in India: entry under the foreign exchange rules, no investment treaty, and dividend tax under the 1989 convention
A United States company may subscribe to shares of an Indian company under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 without prior approval where the sector is on the automatic route and the sectoral cap is not crossed, at a price not below the fair value of the shares, and the Indian company must report the issue to the Reserve Bank of India in Form FC-GPR (Foreign Currency-Gross Provisional Return) not later than thirty days from the date of issue.
The threshold for a material related party transaction now rises with the size of the listed entity
From 19 December 2025 a related party transaction of a listed entity is material, and needs the prior approval of shareholders, only above a threshold that rises with the entity's annual consolidated turnover.
The scheme that replaced FAME pays once a vehicle is sold, and the battery rules charge for it again two years later
PM E-DRIVE, the scheme that followed FAME-II and subsumed EMPS-2024, now runs to 31 March 2028 on an outlay raised to INR 11,900 crore, and the last date for a claim under any component is 31 December 2027.
The 15 Per Cent Shareholder: What a Company Petition Is Actually Worth
A minority shareholder who petitions the NCLT under section 241 and wins a buyout order still has to survive the arithmetic.
An AI vendor's indemnity moves the money, not the responsibility: contracts, diligence and disclosure
Contracts for AI tools are usually drafted as if a warranty and an indemnity settle who answers for the tool.
There is no AI statute in India, and the one AI rule that binds you today is about labels
A business buying or building AI in India is usually told it faces a new compliance regime.
What the Labour Codes Cost You, and Who Carries It
Gratuity on fixed-term staff now accrues at one year instead of five, and the 144-hour quarterly overtime ceiling is a limit rather than a cost.
Dutch holding companies investing into India: the MFN clause, the Nestle judgment and dividend withholding
On 19 October 2023 the Supreme Court of India held, in Assessing Officer (International Taxation) v. Nestle SA, that a most-favoured-nation (MFN) clause in a protocol to an Indian double taxation avoidance agreement (DTAA) does not operate by itself: the better rate given to a later treaty partner reaches residents of the first country only when the Central Government notifies it under section 90 of the Income-tax Act, 1961, and the later partner must have belonged to the Organisation for Economic Co-operation and Development (OECD) when its treaty with India was entered into.
Three clocks run under Regulation 30, and the shortest one starts when the board meeting closes
Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is usually read as a list of events.
Revised Schedule M gave smaller drug makers one extension, and it ran out on 31 December 2025
Every manufacturer licensed under rule 74, 76 or 78 of the Drugs Rules, 1945 has been bound by the revised Schedule M since 31 December 2025 at the latest: since 28 June 2024 above INR 250 crore, and since 28 December 2024 for a smaller manufacturer that did not file Form A.
A German company's presence in India: liaison, branch or project office under the Reserve Bank's Master Direction
A German company that wants a presence in India without a subsidiary can seek a liaison office (LO), a branch office (BO) or a project office (PO), approved by an Authorised Dealer Category-I (AD Category-I) bank under the Reserve Bank of India's Master Direction of 1 January 2016, updated to 18 May 2021, which implements the Foreign Exchange Management (Establishment in India of a Branch Office or a Liaison Office or a Project Office or any other Place of Business) Regulations, 2016.
A Put Option Against a Resident: What Makes It Enforceable, and at What Price
A put option given by an Indian promoter to a foreign fund is enforceable in India, and has been since 2013, but it survives three separate tests rather than one.
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