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Navigating ESG Compliance: Lessons from Recent Trends and the Santos Case

In an era marked by growing environmental consciousness and regulatory oversight, companies across the globe are facing heightened scrutiny over their sustainability claims. The recent lawsuit[1] against Santos Ltd., a major Australian energy company, serves as a wake-up call for corporations navigating the evolving landscape of Environmental, Social, and Governance (ESG) compliance. This article explores key takeaways from this landmark case, highlights the current ESG regulatory framework in India, and provides practical guidance for companies and investors to avoid similar pitfalls.Continue Reading Navigating ESG Compliance: Lessons from Recent Trends and the Santos Case

Time to harmonize AML control systems for global, commercial Indian companies

Introduction

For many global organisations, finding the right balance between having global, unified compliance programs, and the need to address local legal and compliance risks, is a challenge. In this blog, we will address the challenge that money laundering and related issues presents to Indian companies operating in Europe.Continue Reading Time to harmonize AML control systems for global, commercial Indian companies

Flipping the Script on Reverse Mergers: Analysis of The Latest Amendment to Merger Rules

Introduction

The Ministry of Corporate Affairs (MCA) on September 9, 2024, amended Rule 25A of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (effective from September 17, 2024), by introducing sub-rule 5. The amendment is intended to promote seamless mergers and amalgamations between a foreign holding company incorporated outside India and an Indian company, being a wholly-owned subsidiary company incorporated in India, i.e., an inbound cross-border reverse merger.Continue Reading Flipping the Script on Reverse Mergers: Analysis of The Latest Amendment to Merger Rules

Introduction:

The Reserve Bank of India (“RBI”) has proposed a transparent mechanism to identify and declare borrowers as Wilful Defaulters. The Central Bank issued the ‘Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters’ (“Master Direction” or “Direction”) on September 21, 2023, on which stakeholder comments have been invited till October 31, 2023.Continue Reading Draft Master Directions on Wilful Defaulters 2023: A Balanced Approach?