The Securities and Exchange Board of India (“SEBI”) issued a comprehensive Master Circular (“Master Circular”) dated July 11, 2025, consolidating the listing obligations and disclosure requirements for listed Non-Convertible Securities (“NCS”), Securitised Debt Instruments (“SDI”), and Commercial Paper (“CP”). This new regulatory framework replaces multiple earlier circulars and clarifications, providing a single, uniform reference point […]

The Securities and Exchange Board of India (“SEBI”) has released a consultation paper dated June 20, 2025, titled “Guidelines for Responsible Usage of AI/ML in Indian Securities Markets” (“Paper”), proposing a regulatory framework for the responsible usage of Artificial Intelligence (“AI”) and Machine Learning (“ML”) tools in the Indian securities markets. While AI/ML has the […]

In Mayur Desai v. State of Maharashtra (Writ Petition (L) No. 11502 of 2025), the Court took cognizance of the procedural inefficiencies and lack of transparency in MahaRERA’s functioning, particularly its continued reliance on virtual-only hearings post-pandemic. Emphasizing that access to justice is a constitutional right, not a technical convenience, the Court issued binding directions […]

RBI Introduces Holistic Framework for Digital Lending: RBI (Digital Lending) Directions, 2025 The Reserve Bank of India on May 8, 2025, has unveiled the RBI(Digital Lending) Directions, 2025(“Directions”), establishing a consolidated and enforceable regulatory framework for digital lending in India superseding earlier digital lending guidelines from 2022 and 2023. The Directions unify earlier circulars and […]

Clove Legal successfully represented a home-buyer in a Writ Petition filed before the Hon’ble Bombay High Court, whereby the Hon’ble Court while considering the common grievances of the home-buyers through our client, directed the Maharashtra Real Estate Regulatory Authority (MahaRERA) to review its Standard Operating Procedures (SOPs) and its Rules and Regulations for conducting effective […]

The Hon’ble Bombay High Court in its latest decision dated April 15, 2024, in the case of Awadhesh Kumar Parasnath Pathak Vs State of Maharashtra and Anr. held that while the Information Technology Act, 2000 (“IT Act”) is a special Act for addressing cybercrimes and has an overriding effect, it does not preclude the application […]

Relevant Facts: In the recent case of Govind Kumar Sharma & Anr. versus Bank of Baroda & Ors., the undisputed facts were that the Appellants were tenants in the mortgaged premises which had been put up for auction by the Respondent Bank under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest […]

The Supreme Court in its recent decision dated March 19, 2024, in NBCC (India) Private Limited v. Zillion Infraprojects Private Limited[1] reaffirmed the position that a dispute cannot be referred to arbitration on the basis of arbitration clause contained in a referred contract unless a specific reference was made in the main contract to incorporate […]

Introduction: The ‘Group of Companies’ doctrine provides that an arbitration agreement which is entered into by a company within a group of companies may bind non-signatory affiliates, if the circumstances are such that they demonstrate the mutual intention of the parties to bind both signatories and non-signatories. This doctrine has been questioned purportedly on the […]

TRIPS & Intellectual Property: The treaty that internationally governs intellectual property laws is commonly referred to as the ‘TRIPS Agreement’, formally known as the Trade-Related Aspects of Intellectual Property Rights Agreement[1]. TRIPS is comprehensive multi-lateral agreement that lays down the minimum protection requirement of intellectual properties globally. TRIPS identifies seven categories of intellectual property rights […]