All articles

1. Why shareholder expulsion is legally sensitiveShareholding is not merely an investment position. Once a person becomes a member of a company—whether by subscribing to the memorandum, receiving an a...

The U.S. Securities and Exchange Commission has taken a significant step toward modernising the way investors receive regulatory and disclosure documents. On July 16, 2026, the SEC proposed a new fram...

1. Commencement of business is not automatic after incorporationA company having share capital may receive its certificate of incorporation, but that certificate by itself does not permit the company...

1. A decade of the Companies Act, 2013 and the need for a drafting reviewThe Companies Act, 2013 has now completed more than ten years of operation. This is a reasonable point at which the law should...

The expressions “acting in concert”, “acting jointly” and “acting together” are frequently used in Indian corporate and securities law to identify situations where legal consequences are not confined...

1. Why the Gameskraft Ruling MattersThe decision of the Hon’ble Supreme Court in Directorate General of Goods and Services Tax Intelligence (HQS) v. Gameskraft Technologies Pvt. Ltd. [2026] 186 taxman...

1. Why GST registration cancellation must be treated seriouslyA GSTIN is not merely a number appearing on invoices. It is the statutory identity through which a business collects tax, files returns, p...

A recurring GST dispute has emerged in recent months: recipients are receiving notices proposing reversal of input tax credit merely because the supplier’s GST registration has later been cancelled, o...

1. Why demat holdings create tax questionsThe dematerialised holding framework was created to remove the practical limitations of physical share certificates and to make ownership, transfer and settle...

A practical note on lock-ins, ROFO, ROFR, tag rights, drag rights, valuation exits and the advisory role of Chartered AccountantsA joint venture is usually celebrated at the time of signing: two busin...

1. BackgroundBuy-back of securities is a mechanism by which a company purchases its own shares or other specified securities from its existing security holders. It is often used for capital restructur...

The relationship between insolvency law and cheque dishonour prosecution has remained unsettled despite important rulings of the Supreme Court. On one side, the Insolvency and Bankruptcy Code, 2016 se...

1. A shift in the governance philosophy for AIFsIn July 2026, the Securities and Exchange Board of India proposed changes to the governance framework for Alternative Investment Funds, particularly in...

1. Why convertible instruments matterIndian companies, especially start-ups, growth-stage businesses, private companies seeking strategic capital, and entities receiving private equity or venture capi...

1. Why this adjudication order mattersThe Registrar of Companies, Delhi, passed an adjudication order against M/s. Centricity Wealth Tech Private Limited, a New Delhi based private company, in relatio...

1. The Core IssueA recurring controversy under indirect tax law is whether interest becomes payable when additional tax is discharged later through a debit note or supplementary invoice. The issue gen...

Businesses usually measure profitability by looking at sales, margins and operating costs. But in tax disputes, there is another cost that often remains invisible in accounting discussions: money bloc...

1. The central controversyA persistent dispute under GST is whether a taxpayer can be said to have paid tax merely by depositing money into the Electronic Cash Ledger, or whether payment is completed...

The Delhi Bench of the Income-tax Appellate Tribunal, in Ranjan Sen Jain v. ITO [2026] 188 taxmann.com 645 (Delhi - Trib.), has reiterated an important principle for claiming exemption under sections...

1. Why Clause 12(d) should not be treated casuallyThe tax audit mechanism under section 63 of the Income-tax Act, 2025 is designed to place before the tax authorities a structured set of financial and...