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The FCRA Amendment Bill 2026: Part I - Asset Vesting

Summary: The Foreign Contribution (Regulation) Amendment Bill 2026 proposes significant changes to the Foreign Contribution (Regulation) Act, 2010, most notably replacing Section 15 with a new Chapter IIIA. This establishes a Designated Authority in which all foreign contribution and assets of an organisation vest upon cancellation, surrender or cessation of its FCRA registration. During provisional vesting, the Designated Authority has the power to take possession of assets and manage the organisation’s activities, including using its foreign contribution. If the organisation fails to obtain fresh registration or renewal within the prescribed time, its assets permanently vest in the Designated Authority and may be disposed of through prescribed modes. The Designated Authority enjoys extensive powers under the 2026 Bill, and judicial intervention is largely restricted. The amendments carry serious implications for FCRA-registered organisations, demanding rigorous compliance, meticulous accounting and proactive governance.

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Summary

What challenges arise when an ultra-high net worth family experiences an unexpected death, even with a strong succession plan? This scenario demonstrates how even well-structured succession plans may encounter significant obstacles. This article analyses key considerations for families with complex structures, considerable wealth, and multiple businesses, while suggesting ways to be better equipped for such events.

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Identifying SBO in Pooled Investment Vehicles: Conundrum Continues

Summary: Identifying SBOs, especially if the member of a reporting company in India is a pooled investment vehicle of an overseas jurisdiction, continues to be a big challenge. The Indian SBO Rules provide for two different sets of tests for identifying an SBO, basis the PIV’s location. If a PIV is from a FATF compliant jurisdiction, the test is much simpler, vis-a- vis PIVs from non-compliant jurisdictions, which require more detailed scrutiny. This blog analyses several interpretative challenges that continue to bother both PIVs and reporting companies, requiring MCA clarification.

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Regulator’s Gaze over Unutilised Foreign Contributions of NGOs

Summary: As per the recent reports, the Ministry of Home Affairs has issued show cause notices to several NGOs registered under the Foreign Contribution (Regulation) Act, 2010, asking why their registrations should not be cancelled in cases where foreign contributions have neither been received nor utilised for three consecutive financial years. While prolonged non-utilisation may, in the regulator’s view, raise questions on an organisation’s bona fide intent, the development has sparked debate on whether non-utilisation of foreign funds alone can justify cancellation, particularly where NGOs continue to pursue their objectives through other lawful means.

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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.

Continue Reading Mutation Follows Ownership, Not the Other Way Around: Supreme Court
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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.

Continue Reading Mutation Follows Ownership, Not the Other Way Around: Supreme Court
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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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