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Summary: The recent Supreme Court judgment in Samiullah v. State of Bihar carries immense significance for anyone involved in property transactions. By striking down Bihar’s rule mandating proof of mutation before registration of sale deeds, the Court has reaffirmed a core principle of property law — registration of a document is about recording transactions, not proving ownership. This decision not only removes a major practical hurdle in property sales, especially in states with outdated land records, but also clarifies the legal limits of administrative rule-making under the Registration Act, 1908. The judgment marks a crucial step toward a more transparent, accessible, and legally sound land registration framework, while calling for technological reforms to eventually achieve conclusive land title in India.

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Summary: The recent Supreme Court judgment in Samiullah v. State of Bihar carries immense significance for anyone involved in property transactions. By striking down Bihar’s rule mandating proof of mutation before registration of sale deeds, the Court has reaffirmed a core principle of property law — registration of a document is about recording transactions, not proving ownership. This decision not only removes a major practical hurdle in property sales, especially in states with outdated land records, but also clarifies the legal limits of administrative rule-making under the Registration Act, 1908. The judgment marks a crucial step toward a more transparent, accessible, and legally sound land registration framework, while calling for technological reforms to eventually achieve conclusive land title in India.

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MAS to Singapore Fund Managers: You Better See What Is Happening with the VCC!

Summary: This blog is an insight into a circular issued by the Monetary Authority of Singapore on June 26, 2025, and addressed to chief executive officers of fund management entities in Singapore. Upon its release, it had caused a flutter among some fund management entities regarding the implications and intent behind the circular. We take a closer look at what it entails.

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FCRA Renewals: Evolving Realities and Key Takeaways

The process of renewing registrations under the Foreign Contribution (Regulation) Act, 2010 (“FCRA”), has been subject to heightened regulatory scrutiny, as the Ministry of Home Affairs focuses on stricter compliance and oversight. While aimed at enhancing transparency and accountability in the receipt and utilisation of foreign contributions, recent trends reveal recurring practical challenges, from procedural delays and unclear transitional guidance to discretionary refusals and non-speaking rejection orders. Some High Courts and the Supreme Court have also weighted in recently on this matter, highlighting the need for a balanced regulatory approach that safeguards national interest while facilitating FCRA registered entities to operate with continuity and confidence within a structured and reasonable compliance framework.

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Section 8 Company Limited by Guarantee: An Alternative to Traditional Section 8 for FEMA & FCRA Issues Faced by Foreign Owned and Controlled Entities

Summary: The blog discusses the progressive shift in the implementation of CSR activities by foreign-owned and controlled entities, and how a Section 8 company limited by guarantee can serve as an alternative to the challenges faced by traditional Section 8 companies under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, and the Foreign Contribution (Regulation) Act, 2010.

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Promoter Incentives: Two Steps Closer, and Many Steps To Go

Summary: The blog analyses the amendments made to the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 in relation to (i) the regulatory developments around allowing the top brass of India Inc’s new age technology companies to retain their ESOPs upon being classified as ‘promoters’ during the IPO process and (ii) the amendments undertaken to the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 earlier this year.

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From the Arabian Sea to the Strait of Malacca: Forging the India-Singapore Axis

Summary: The bilateral relationship between India and Singapore stands as a testament to the power of strategic partnership and economic cooperation in an era marked by shifting geopolitical dynamics across the Indo-Pacific. It reached a significant milestone during Prime Minister Narendra Modi’s visit to Singapore in September 2024 when both countries agreed to elevate bilateral relations to a higher level of a Comprehensive Strategic Partnership. Singapore Prime Minister Lawrence Wong’s recent visit to India in early September 2025, marks a watershed moment in bilateral relations, coinciding with the 60th anniversary of India-Singapore diplomatic relations and SG60. During his historic visit, Prime Minister Wong announced a new MoU on space collaboration, the leaders agreed to a time-bound review of the CECA and India’s free trade pact with ASEAN. The visit also culminated in a major infrastructure milestone. Read on to know more.

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A variable capital “company”, or “fund”?

Summary: This piece is an insight into a Singapore Variable Capital Company, its salient features, and relevance for varied stakeholders including family offices and start-ups.

Introduction

Singapore, now a well-established global asset and wealth management hub, has consistently attracted investments from different parts of the world. This achievement is the result of concerted efforts by the government of Singapore and its relevant limbs to nurture a stable, predictable, and business -friendly regulatory and legal ecosystem. Enforcement in both letter and spirit being one of the highlights for its preferential treatment when compared to its peers.

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Introduction

The Foreign Contribution (Regulation) Act, 2010 (“FCRA”)[i], regulates the flow and use of foreign funds by individuals, associations, and organisations in India. Over time, the regulatory framework under FCRA has evolved, introducing several compliance obligations for entities receiving foreign contributions. In April 2025[ii], a key amendment was introduced concerning the validity of prior permissions. To strengthen the FCRA regime further, the Ministry of Home Affairs (“MHA”) notified amendments to the Foreign Contribution (Regulation) Rules, 2011 (“FCR Rules”)[iii], on May 26, 2025 (“May 2025 Amendments”)[iv]. These amendments bring important changes to the registration, prior permission, renewal processes, and other post-registration compliances.

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Specialized Investment Funds: New Investment Product of The Hour

The Securities and Exchange Board of India (“SEBI”) announced the establishment of ‘Specialized Investment Funds’ (“SIF”) vide its amendment to the SEBI (Mutual Funds) Regulations, 1996 (“Mutual Fund Regulations”), effective December 16, 2024. The amendment was aimed at introducing a new asset class to bridge the gap between Mutual Funds (“MFs”) and Portfolio Management Services (“PMS”). SEBI vide its circular dated February 27, 2025, laid down a comprehensive regulatory framework for SIFs (effective April 1, 2025).

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