India: Audit

The recent AUSTRAC order in Australia and the RBI's penalties in India highlights the critical importance of embedding legal compliance and risk management at the highest levels of banking and finance.

The Securities Exchange Board of India ("SEBI") through a circular dated 16.05.2025 ("EBP Circular"), has introduced amendments to the Master Circular for issuance and listing of Non-Convertible Securities...

SEBI issued a consultation paper on February 07, 2025, proposing amendments to the LODR Regulations concerning the Secretarial Compliance Report.

With the aim to foster trade, investment, innovation and job creation in India and UK, FTA and DCC is signed between the countries. This will deepen economic integration along with trade liberalisation and tariff concessions.

Impairment is a state when the carrying value of an asset is higher than its recoverable value Alternatively...

Ministry of Corporate Affairs ("MCA") vide notification no. G.S.R. 291 (E) dated 7th May, 2025 made amendments in the Companies (Indian Accounting Standards) Rules, 2015.

Legislation should be amended, if necessary, to ensure MNEs do not face undue hardship.

The threshold level of income exempt from tax is proposed to be raised from Rs: 50,000 to Rs: 1,00,000. The threshold level for women who have not attained the age of 65 is proposed at Rs: 1,25,000. This replaces the rebate allowable to women u/s 88 – C which now stands eliminated. The threshold level for senior citizens is proposed at Rs: 1,50,000. This replaces the rebate allowable to senior citizens u/s 88 – B which now stands eliminated

Novelty is one of the basic criteria of patentability, inventiveness and industrial applicability being the other two. If the use of a substance or a composition for a specified medical purpose is new, a claim in a patent application directed at this use will be considered as novel even if the same substance had previously been used in medicine for a different purpose.