INTRODUCTION: Cryptocurrencies, worryingly unregulated, decentralised virtual currencies, are steadily gaining traction in the Indian transaction landscape. With digitalisation and smart contracts becoming the new norm (especially considering the COVID-19 pandemic), global trade in cryptocurrencies has increased by leaps and bounds. However, one cannot ignore the unprecedented rise in cybercrimes across the globe, relatable to virtual currencies. The expansion of the cryptocurrency landscape poses various challenges in the form of regulatory, legal, and operational risks. Whilst…

  There have been significant changes to the regulatory regime governing alternative investment funds (“AIFs”)[1] in the past year and a half. In its Board Meeting dated August 06, 2021, the Securities and Exchange Board of India (“SEBI”) approved a fresh set of amendments to the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), governing AIFs, intended to ease compliance requirements, provide greater investment flexibility and streamline regulatory processes. A regulatory circular giving effect…

Introduction There are only a few sections in the Arbitration and Conciliation Act, 2016 (“Act”), in which Court’s reference or assistance is invited post commencement of arbitration and constitution of the arbitral tribunal.…

Maharashtra Real Estate Regulatory Authority (MahaRERA), vide Circular No. 11/2017 dated November 8, 2017, bearing reference no. MahaRERA/Secy/File No.27 / 491 /2017, prescribed procedure for transferring or assigning promoter’s rights and liabilities to a third party. The circular delineated the procedure in accordance with Section 15 of the Real Estate (Regulation and Development) Act, 2016 (“Act”), which states that, “the promoter shall not transfer or assign his majority rights and liabilities in respect of a…

 A. Introduction Gujarat International Fin-Tec City (“GIFT City”) is being developed as a global financial and IT Services hub on the lines of globally benchmarked financial centres. It includes a Special Economic Zone having the status of an International Finance Services Centre (“IFSC”). The IFSC is set up to undertake financial services transactions that are currently carried out outside India by overseas financial institutions and overseas branches/ subsidiaries of Indian financial institutions. …