Finance Law and Banking Law

IFSCA has proposed amendments to allow ETFs and Investment Trusts already listed in India or foreign jurisdictions to obtain secondary listings on IFSC exchanges without requiring their managers to establish as Fund Management Entities in the IFSC. The consultation paper introduces new eligibility criteria for managers and ETFs, local representative requirements, and enhanced disclosure obligations that could significantly broaden the range of investment products available through IFSC exchanges.

Private equity exits from India have reached record levels, but converting investment value into liquidity requires careful navigation of regulatory frameworks, tax structures, and strategic route selection. How can sponsors optimise exit readiness throughout the investment lifecycle to maximise deal certainty and preserve optionality across strategic sales, IPOs, secondary transactions, and public market sell-downs?

SEBI's review of India's SME IPO framework raises fundamental questions about how smaller businesses should access public capital. As the market expands, regulators must balance making listings commercially...

On July 27, 2026, the Reserve Bank of India (“RBI”) issued four draft amendment directio ns pertaining to Commercial Banks, Small Finance Banks, Non-Banking Financial Companies (“NBFCs”) and All India Finan cial Institutions (“AIFIs”), proposing changes to the respective Securitisation Transactions Directions, 2025 governing each category of regulated entity.

The Calcutta High Court's ruling in Jainco Projects (India) Limited v. UCO Bank examines critical procedural questions surrounding SARFAESI appeals, specifically addressing the requirements for pre-deposit when One Time Settlement orders are involved. This decision has significant implications for borrowers challenging debt recovery actions and banks enforcing security interests under the SARFAESI Act.

Municipal bonds in India represent a critical financing mechanism for urban infrastructure, yet the market remains underdeveloped compared to corporate debt. This comprehensive legal guide examines the regulatory framework governing municipal bond issuance under SEBI's ILMDS Rules, exploring eligibility requirements, credit enhancement mechanisms, tax treatment, and the unique challenges facing both domestic and foreign investors in this emerging asset class.

India's new Protection of Interests in Aircraft Objects Rules, 2026 mark a watershed moment in aviation finance, finally operationalizing the Cape Town Convention through a technology-driven framework...

Aircraft leasing has emerged as the dominant mode of fleet acquisition in the global aviation industry, enabling airlines to access aircraft without committing significant capital to outright ownership.

The Bombay High Court's decision in Aditya Birla Housing Finance Ltd. v. Axis Bank Ltd. examines whether statutory arbitration under Section 11 of the SARFAESI Act can be invoked between an existing secured creditor and a financial...

Since 2020, the portfolio management services (PMS) industry has grown significantly. The assets under management (AUM) rose from INR 18.07 lakh crore in April 2019 to INR 42.61 lakh crore as on 31 May 2026.

The September 2026 edition of Fox & Mandal's newsletter examines MCA’s FAQs on foreign company registration; proposed amendments to the NBFC credit facilities framework; expansion of OBPP offerings; operationalisation of FDI in inventory-based cross-border e-commerce; Demat 2.0 for tokenisation of corporate bonds; NHAI Policy Circular on real-time blacklisting and non-performance records; and other changes in India's corporate, capital markets, infrastructure, and banking sectors.

Foreign Portfolio Investors (FPIs) form a critical channel for overseas capital into India’s equity, debt, and increasingly commodity markets