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1. CCI clears Fairfax India's proposal to acquire addl stake in IIFL Capital Services

CCI clears Fairfax India's proposal to acquire addl stake in IIFL Capital Services

CCI clears Fairfax India's proposal to acquire addl stake in IIFL Capital Services - Regulators - 2 min read CCI clears Fairfax India's proposal to acquire addl stake in IIFL Capital Services New Delhi, The Competition Commission of India (CCI) on Tuesday cleared Fairfax India Holdings Corporation's proposal to acquire an additional stake in IIFL Capital Services. Fairfax India Holdings Corporation, through its affiliate FIH Mauritius Investments Ltd (FIHM), is acquiring the stake in IIFL Capital Services. Under the proposed combination, FIHM will subscribe to fresh equity shares of IIFL Capital Services through a preferential issue on a private placement basis and acquire shares tendered by public shareholders under a mandatory open offer, CCI said. "The acquirer (FIHM) may also undertake a secondary purchase from the promoters of the target (IIFL Capital Services Ltd), if FIHM's and HWIC's aggregate shareholding in IIFL Capital remains less than the target shareholding post completion of the primary subscription and the open offer acquisition," it added. It holds a global business license and has no other business activities. "Commission approves acquisition of certain additional equity share capital of IIFL Capital Services Ltd by FIH Mauritius Investments Ltd," CCI said in a post on X. FIHM is wholly owned by Fairfax India Holdings Corporation, a company listed in Toronto, whose ultimate parent is Fairfax Financial Holdings Ltd, a Canadian holding company engaged in property and casualty insurance, reinsurance and investment management across several countries, including India. IIFL Capital Services is a Sebi-registered financial services company.

2. RBI issues Amendment Directions, 2026 for valuation of InvIT and REIT units by financial institutions

RBI issues Amendment Directions, 2026 for valuation of InvIT and REIT units by financial institutions

RBI issues Amendment Directions, 2026 for valuation of InvIT and REIT units by financial institutions - Regulators - 2 min read RBI issues Amendment Directions, 2026 for valuation of InvIT and REIT units by financial institutions The Reserve Bank of India Amendment Directions, 2026 have been issued on Tuesday to alter the valuation norms for units of Infrastructure Investment Trusts (InvIT) and Real Estate Investment Trusts (REIT) held by all-India financial institutions. New Delhi [India], September 22 (ANI): The Reserve Bank of India Amendment Directions, 2026 have been issued on Tuesday to alter the valuation norms for units of Infrastructure Investment Trusts (InvIT) and Real Estate Investment Trusts (REIT) held by all-India financial institutions. According to RBI, the revised framework updates Chapter VI of the Reserve Bank of India (All India Financial Institutions Classification, Valuation, and Operation of Investment Portfolio) Directions, 2025, which originally came out on November 28, 2025. The banking regulator stated that it introduced the changes to eliminate ambiguity and set standardized procedures across institutions. The central bank explained that the amendments stem from powers granted under Section 45L of the Reserve Bank of India Act, 1934, alongside other applicable statutory provisions, after finding the step necessary in the public interest. The formal title of the revised rules is the Reserve Bank of India (All India Financial Institutions - Classification, Valuation, and Operation of Investment Portfolio) Amendment Directions, 2026, coming into effect immediately from the date of issue. Under the amended guidelines, two new clauses-Paragraph 58A and Paragraph 58B-stand inserted into the principal directions to govern instruments issued by InvITs and REITs respectively. Quoted securities and units issued by either investment trust must be…

3. Sebi settles proceedings against five Adani group firms for Rs 1.5 cr

Sebi settles proceedings against five Adani group firms for Rs 1.5 cr - Regulators - 3 min read Sebi settles proceedings against five Adani group firms for Rs 1.5 cr New Delhi, Markets regulator Sebi

Sebi settles proceedings against five Adani group firms for Rs 1.5 cr

Sebi settles proceedings against five Adani group firms for Rs 1.5 cr - Regulators - 3 min read Sebi settles proceedings against five Adani group firms for Rs 1.5 cr New Delhi, Markets regulator Sebi on Tuesday settled adjudication proceedings against five Adani group companies over alleged violations related to the disclosure of related-party transactions and audit as well as limited review reports, with the firms collectively paying Rs 1.5 crore as a settlement amount. The proceedings stemmed from Sebi's examination into allegations and corporate governance issues highlighted in a January 2023 report of now-closed US short-selling firm Hindenburg Research, including possible violations of listing regulations and the erstwhile listing agreement. The five companies are Adani Enterprises Ltd, Adani Total Gas Ltd, AWL Agri Business Ltd (formerly Adani Wilmar Ltd), Adani Green Energy Ltd and Adani Energy Solutions Ltd (formerly Adani Transmission Ltd), according to Sebi's settlement order. According to the settlement order, the proceedings related to the alleged non-disclosure of certain related-party transactions and instances where audit or limited review reports were signed by audit firms without holding a valid peer review certificate. Sebi had issued a show-cause notice to the companies in February 2024, asking them to explain why an inquiry should not be held and penalties imposed for the alleged violations. It was alleged that Adani Enterprises Ltd (AEL) failed to disclose certain related-party transactions (RPTs) between its subsidiary Adani Estates Private Ltd and Vakoder Investment Ltd, a related party of AEL, in its FY13 annual report as required under the applicable accounting standards. It was also alleged that AEL's audit report for FY15 and the limited review report for the quarter ended June 2015 were signed by an audit…

4. A State Cannot By Executive Order Prescribe A Truncated National Song Contrary To The Union’s Protocol: Karnataka Governor Asks The State To Reconsider Its Two-Stanza Vande Mataram Order

A State Cannot By Executive Order Prescribe A Truncated National Song Contrary To The Union’s Protocol: Karnataka Governor Asks The State To Reconsider Its Two-Stanza Vande Mataram Order

A State Cannot By Executive Order Prescribe A Truncated National Song Contrary To The Union’s Protocol: Karnataka Governor Asks The State To Reconsider Its Two-Stanza Vande Mataram Order The Governor’s letter frames the two-stanza order as a constitutional question, not merely a matter of protocol. Vande Mataram as a national symbol, he argues, lies outside the State’s legislative competence, and the Union has prescribed an official version and protocol for its rendition; a State cannot, by executive instruction, prescribe a different or truncated version at odds with that protocol. Invoking Articles 162, 256 and 257 and the 2026 amendment extending statutory protection to the National Song, the Governor has advised the Chief Minister to reconsider the order and follow the Centre’s circular. He has advised, not directed; whether the State reconsiders is now for it to decide. Bengaluru: Karnataka Governor Thaawarchand Gehlot has asked Chief Minister D.K. Shivakumar to reconsider the State Government’s decision restricting the recital of the National Song, Vande Mataram, to its first two stanzas at State Government functions, except those attended by the President, Vice-President, Prime Minister or Governor, contending that the decision is contrary to the Union Government’s guidelines and in violation of the Prevention of Insults to National Honour (Amendment) Act, 2026. In a letter dated September 21, the Governor advised that the order of September 8, 2026 be reconsidered in the light of the constitutional position, the Central Government’s orders governing the National Song, and the statutory developments of 2026. The constitutional grounds The Governor asked the Chief Minister to examine whether the restriction to two stanzas could be sustained consistently with the 2026 amendment to the national-honour law, the Ministry of Home Affairs’ orders concerning the official version and rendition of the National Song, Articles 162, 256 and 257(1) of the…

5. Individual Instances Of Abuse Are No Ground To Revisit A Law A Three-Judge Bench Has Upheld: Supreme Court Dismisses A Challenge To The 2018 SC/ST Act Amendment

Individual Instances Of Abuse Are No Ground To Revisit A Law A Three-Judge Bench Has Upheld: Supreme Court Dismisses A Challenge To The 2018 SC/ST Act Amendment The petitioner asked the Supreme Court

Individual Instances Of Abuse Are No Ground To Revisit A Law A Three-Judge Bench Has Upheld: Supreme Court Dismisses A Challenge To The 2018 SC/ST Act Amendment

Individual Instances Of Abuse Are No Ground To Revisit A Law A Three-Judge Bench Has Upheld: Supreme Court Dismisses A Challenge To The 2018 SC/ST Act Amendment The petitioner asked the Supreme Court to strike down the 2018 amendment that restored the stringent provisions of the SC/ST Act, arguing that the bar on anticipatory bail is ‘reverse discrimination’, that the law is prone to misuse, and that a person had spent years in jail on a false case. The amendment, it noted, has already been upheld by a three-judge Bench in 2020, with safeguards built in; individual instances of abuse, however troubling, are not a reason to reopen a law that stands validated. Misuse in a given case, the Court said, is met by the power to quash an FIR or grant bail where no prima facie case exists, not by declaring the statute unconstitutional. New Delhi: The Supreme Court has dismissed a public interest litigation challenging the 2018 amendment to the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act, which restored the bar on anticipatory bail and dispensed with a preliminary enquiry before the registration of an FIR and with prior approval for the arrest of an accused, holding that the amendment has already been upheld by the Court and does not warrant reconsideration [Brijbhushan Saini and Others v. A Bench of Chief Justice of India Surya Kant, Justice Joymalya Bagchi and Justice V. Mohana declined to entertain the challenge, noting that the amendment had been upheld in Prithvi Raj Chauhan v. Union of India (2020) and that sufficient safeguards had been laid down in that judgment. The statutory background The provisions at issue have a well-known history.

1. I.S.D.S. Private Limited and Ors. vs. Khemka Food Products Pvt. Ltd. and Ors. (21.09.2026 - SC)(MANU/SC/1057/2026)

The Supreme Court of India addressed whether the restriction under Section 134 of the Trade Marks Act, 1999, which mandates that suits for infringement be filed in a District Court, is overridden by n

2. The State of Maharashtra and Ors. vs. Momin Moiuddin Gulam Hasan and Ors. (21.09.2026 - SC)(MANU/SC/1056/2026)

The Supreme Court of India addressed the legality of the extension of time granted to the State of Maharashtra for filing a charge sheet against Momin Moiuddin Gulam Hasan and others under the Unlawfu

3. Micky Traders vs. L.R.Y. Labour Contractor and Ors. (21.09.2026 - SC)(MANU/SC/1055/2026)

The Supreme Court of India addressed the issue of whether Micky Traders met the eligibility criteria for a public contract tendered by the Punjab State Agricultural Marketing Board and the Market Comm

4. Kusumavati Gowda vs. The Government of Karnataka and Ors. (21.09.2026 - SC)(MANU/SC/1059/2026)

The Supreme Court of India addressed the issue of whether a reinvestigation should be ordered in the case of a 17-year-old girl who was raped and murdered, where the initial accused, Santhosh Rao, was

5. John Mathew vs. Santha Paul and Ors. (21.09.2026 - SC)(MANU/SC/1058/2026)

The Supreme Court of India addressed whether the issue of limitation could be tried as a preliminary issue in the case of John Mathew vs. Santha Paul and Ors. The core dispute involved the validity of

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