India: Finance and Banking

The determination of whether a person qualifies as a “person resident in India” under the Foreign Exchange Management Act, 1999 (“FEMA”) is fundamental to it’s regulatory framework. Residential status determines whether a person is governed by the regulatory regime applicable to residents or by the restrictions applicable to persons resident outside India in relation to foreign investment, acquisition of immovable property, capital account transactions, and the establishment of a place of business in India.

The Warehousing Development and Regulatory Authority has taken a significant step towards institutionalising storage standards in the warehouse receipt ecosystem by issuing a stakeholder consultation notice on 27 July 2026. The notice, bearing file number T-COMP/3/2025-Technical, invites comments from market participants on the proposed shelf-life durations for nine notified commodities stored under electronic Negotiable Warehouse Receipts in WDRA-registered warehouses.

Over the years, Securities and Exchange Board of India (“SEBI”) has introduced a series of reforms to refine the winding-up framework governing Alternative Investment Funds (“AIFs”). Through these changes, SEBI has sought to make the winding-up process more practical and comprehensive, addressing the various issues that arise at the end of a fund’s tenure and improving the overall framework for closure of AIFs.