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The present US administration signed an Executive Order (“EO 14209”) in February, halting the enforcement of the Foreign Corrupt Practices Act (FCPA), pending new guidance to prosecutors. On June 10, 2025, the US Department of Justice (DOJ) issued new guidelines (“Guidelines”) on the enforcement of the FCPA, marking a significant shift in its approach to combating foreign bribery. These changes are a part of a broader strategy to recalibrate US anti-corruption efforts in line with national security interests and economic competitiveness.

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Introduction

The Micro, Small and Medium Enterprises Development Act, 2006 (“MSME Act”), aims to promote,  develop and enhance the competitiveness of MSMEs. To address the issue of delayed payments, several provisions of the MSME Act provide additional safeguards and benefits to MSMEs. One such safeguard is Section 15, which outlines the buyer’s liability to make payments due to MSMEs once the goods or services are accepted/ deemed to be accepted.[1] Similarly, Section 16, read with Section 17, states that delays in payments for goods supplied or services rendered by MSMEs, shall attract a compound interest rate of three times the bank rate notified by the Reserve Bank of India.[2] Further, reference to the Micro and Small Enterprises Facilitation Council (“MSEFC”) for any amount due under Section 17 can be made under Section 18. However, questions on the applicability of this statutory provision are raised, when parties to a dispute do not invoke the MSEFC mechanism and go under the pre-existing arbitration agreements.

Continue Reading Arbitration Agreements v. MSME Act: Can interest rates under MSME Act survive outside of Section 18 proceedings?
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IBC vs. PMLA: Supreme Court Reinforces Jurisdictional Boundaries in Kalyani Transco Case

The Insolvency and Bankruptcy Code, 2016 (“IBC”), was enacted to inter alia provide a consolidated framework to resolve insolvency in a time-bound manner and to maximise the value of assets. This objective is further aided by a moratorium under Section 14 that halts legal proceedings against the corporate debtor, and the immunity provision under Section 32A, which offers a fresh slate to resolution applicants upon plan approval.

Continue Reading IBC vs. PMLA: Supreme Court Reinforces Jurisdictional Boundaries in Kalyani Transco Case
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Supreme Court Reiterates Finality of Approved Resolution Plans: No Scope for Reviving Arbitration Claims Post-CIRP

Introduction

In an authoritative pronouncement concerning the interplay between arbitration proceedings and the Insolvency and Bankruptcy Code, 2016 (“IBC”), the Hon’ble Supreme Court in Electrosteel Steel Limited v. Ispat Carrier Private Limited (Civil Appeal No. 2896 of 2024, decided on April 21, 2025)[1] (“Electrosteel”) has reinforced the legal position that once a resolution plan is approved by the adjudicating authority under Section 31 of the IBC, all claims not forming part of the plan stand extinguished. This includes claims that are subject to pending legal proceedings.

Continue Reading Supreme Court Reiterates Finality of Approved Resolution Plans: No Scope for Reviving Arbitration Claims Post-CIRP
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Introduction

The Foreign Contribution (Regulation) Act, 2010 (“FCRA/Act”), is an important piece of legislation that Parliament has enacted to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for activities detrimental to national interest.

Continue Reading Navigating the Evolving FCRA Landscape: Enhanced Responsibility of Chartered Accountants
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    The Prevention of Money Laundering Act, 2002 (“PMLA”), places proceeds of crime at the core of the offence of money laundering. Before delving into this article, it is imperative to understand the definition of proceeds of crime, which Section 2 (1) (u) of the PMLA[1] defines as “any property derived or obtained by any person, as a result of criminal activity relating to a scheduled offence”.

    Continue Reading Changing Landscape of Arrest Under the PMLA – Decoding Section 19 Through Jurisprudence
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    Chinese Goods, India Exports: Substantial transformation or risky transshipment?

    There is increasing uncertainty surrounding the legal and commercial aspects of trade, against the backdrop of the United States imposing new tariffs. This evolving landscape of international trade exposes Indian exporters to heightened scrutiny under the US customs regulations, specifically those concerning transshipment of goods and adherence to the US Customs and Border Protection (“CBP”) rules of origin (“Rules of Origin”).

    Continue Reading Chinese Goods, India Exports: Substantial transformation or risky transshipment?
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    Emergency Arbitration: A Legal Lifeline or a Paper Tiger?

    Introduction

    Emergency arbitration (“EA”) is a pre-cursory mechanism in the arbitration process that allows parties to seek urgent interim reliefs prior to the constitution of the arbitral tribunal. To invoke EA, the party invoking the process must establish that it would face irreparable harm if the protection/ measures sought in the EA are not granted before the constitution of the arbitral tribunal.

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    The Global Reckoning: How Copyright Lawsuits Are Defining AI’s Legal Boundaries

    Introduction

    Several authors of copyrighted books have filed class action lawsuits against major tech market players, alleging systematic copyright infringement. The allegations stem from tech companies’ unauthorised use of copyrighted content to develop large language models (“LLMs”), which provide these tech companies a competitive edge in the Artificial Intelligence (“AI”) market.

    Continue Reading The Global Reckoning: How Copyright Lawsuits Are Defining AI’s Legal Boundaries
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    Treatment of Recoveries from Avoidance Transactions under the Resolution Plan

    Introduction

    In a landmark decision[i] rendered on April 1, 2025, the Hon’ble Supreme Court held (“Supreme Court”)that the Hon’ble National Company Law Appellate Tribunal (“NCLAT”) transgressed its jurisdiction by interfering with the resolution plan clause pertaining to the treatment of recoveries from fraudulent and wrongful trading applications filed under Section 66 of the Insolvency and Bankruptcy Code, 2016 (“Code”) .

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