Regulatory & Compliance
Regulatory advisory across SEBI, RBI/FEMA, CCI, DPDP, MCA, and sector-specific frameworks — both transactional and contentious.
Regulatory work has changed shape in India. The Competition Commission has gone from quiet to active. SEBI has narrowed the room around insider trading, takeovers, and listing-disclosure. The RBI has used the Prudential Framework and FEMA to tighten lending and cross-border. The DPDP Act has, for the first time, given India a comprehensive data-protection regulator with civil-penalty teeth. The firm advises across this multi-regulator landscape, both at the transactional point where regulatory clearance is needed and at the contentious point where regulatory action has been taken.
What the firm does in this practice
SEBI — LODR, PIT, SAST, ICDR
Listing-and-disclosure advisory, insider trading framework under SEBI (PIT), takeover obligations under SEBI (SAST), and capital-raising under SEBI (ICDR). Adjudication and appellate proceedings before SAT.
Competition Commission of India
Combination filings under Section 5, anti-competitive conduct investigations, abuse of dominance, leniency advisory, and proceedings before the CCI and on appeal before NCLAT and the Supreme Court.
RBI and FEMA
FDI structuring under the consolidated FDI Policy, FEMA filings (Form FC-GPR, Form FC-TRS), pricing-guideline compliance, ECB advisory, ODI structuring, and compounding applications.
DPDP Act 2023 compliance
Data Fiduciary obligations, consent management architecture, cross-border data transfer, breach response, Significant Data Fiduciary obligations, and Data Protection Officer advisory under the Digital Personal Data Protection Act, 2023.
Tax advisory and tax disputes
Direct tax structuring for transactions, transfer pricing, GST advisory on cross-border services and digital supplies, tax disputes before the Commissioner (Appeals), ITAT, and the High Courts.
Employment and labour codes
Employment contract drafting, executive separation, workplace investigations, POSH compliance, and the new labour codes — the Code on Wages, the Industrial Relations Code, the Code on Social Security, and the OSH Code — as they progressively notify.
Sector-specific licensing
Licensing under sector-specific frameworks — FSSAI, CDSCO, CERC/SERC, TRAI, IRDAI, BIS, and others — including application, compliance, and dispute proceedings.
The view from the firm
Regulatory work in India is forecasting work. The right answer is rarely about what the rule currently says; it is about what the regulator is currently asking. SEBI’s evolving disclosure expectations, the CCI’s ex-ante combination thinking, the RBI’s post-2019 framework on stressed assets, the early DPDP enforcement signals — each is moving faster than the rules. The firm’s regulatory practice is built on tracking the regulator, not just the rule.
Most companies under-invest in regulatory architecture until the moment they need it. Then they over-invest, in panic, after a notice has been issued. The firm’s view is that regulatory cost is at its lowest when paid in calendar time, before there is a matter, and at its highest when paid under a notice deadline. The pre-notice regulatory hygiene work — data mapping, consent flows, LODR readiness, FEMA filings, board approvals — pays for itself many times over the first time a regulator asks.
The interface between regulators is where the most consequential errors are made. A Section 188 related-party transaction can also be a SEBI LODR disclosure obligation. A cross-border M&A can be both a CCI filing and a FEMA reporting trigger. A data-related vendor change can be a DPDP notice obligation. The firm reads regulatory matters across all relevant regimes simultaneously, not one at a time.
Deeper references
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