Metalegal Advocates

SEBI has updated the SEBI (LODR) Regulations, effective 31.12.2024, with some rules applying from 01.04.2025. These updates introduce stricter rules for corporate governance and enhance how companies report and manage their compliance. Key changes involve more defined roles for compliance officers, better mechanisms for handling investor complaints, updated board management practices, and stricter audit requirements. The amendments also simplify disclosures on company websites and ensure quicker responses to promoter reclassification requests. Read the full analysis by our associate Ms. Muskaan Jain, here: https://lnkd.in/gpiFC6xJ #MetalegalAdvocates #MetalegalUpdates #SEBIRegulations #SEBIAmendments #ListedCompanies #DisclosureRequirements #CorporateGovernance #Compliance #LegalUpdates

In M.R. Ajayan v. State of Kerala, the Supreme Court overturned the Kerala High Court’s decision on applying Section 195 CrPC. It ruled that procedural rules cannot block justice, especially when public trust in the judiciary is at stake. The Court restored criminal proceedings against those accused of tampering with evidence and highlighted the importance of ensuring judicial accountability. Read the case analysis by our associate Ms. Anshi Bhatia, here: https://lnkd.in/gZxa-D2h #MetalegalAdvoocates #MetalegalCourtRuling #SupremeCourtJudgment #Section195 #CrPC #JudicialIntegrity #PublicTrust #EvidenceTampering #LegalAnalysis

Our associate Ms. Muskaan Jain, explores the interplay between legal and beneficial ownership with insights from the LinkedIn India case. The write-up highlights the distinction between registered and beneficial ownership, the regulatory framework under the Companies Act, 2013, and the implications of non-disclosure of SBOs. Examining recent rulings, the insight underscores the importance of transparency and compliance in corporate governance to prevent misuse of corporate structures. Read the full insight here: https://lnkd.in/gJsiYQ7i #MetalegalAdvocates #MetaleagalInsights #CorporateGovernance #CorporateLaw #SignificantBeneficialOwnership #LegalCompliance #CompaniesAct2013 #LinkedInIndiaCase #LegalInsights

The Delhi High Court in Capital Broadways (P.) Ltd. v. Income Tax Officer Ward 5(3) ruled that the Principal Commissioner of Income Tax (PCIT) must use their own judgment when approving the reopening of an assessment under Sections 148 and 151 of the Income-tax Act, 1961. Simply agreeing with the Assessing Officer’s reasons without independent thought makes the notice invalid. In this case, the Court struck down the notice because the PCIT failed to apply their mind. Read the case analysis by our associate Mr. Arjun Singh Tamang, here: https://lnkd.in/g4H-jMuq #MetalegalAdvocates #MetalegalCourtRuling #DelhiHighCourt #IncomeTaxAct #LegalJudgment #AssessmentReopening #PCITApproval #LegalAnalysis

Our associate, Mr. Shivam Mishra, explores the vital role of Special Courts in tackling economic offences such as money laundering and fraud, which harm public trust and economic stability. The article highlights how these courts, with their specialised focus, ensure quicker resolution of complex cases. It also discusses the legal frameworks and challenges faced by these courts while advocating for reforms to improve their efficiency. This engaging analysis sheds light on the importance of strengthening these judicial bodies. Read the full write-up for more insights: https://lnkd.in/g9JF69jT #MetalegalAdvocates #MetalegalInsights #EconomicOffences #SpecialCourts #BhartiyaNyayaSanhita #JusticeSystem #FinancialCrimes #MoneyLaundering #LegalInsights

The Delhi High Court in Experion Hospitality Pvt. Ltd. ruled that reassessment under section 148 of the Income-tax Act,1961 cannot proceed if it is based on repeated arguments and lacks fresh evidence. The Court highlighted that similar transactions with Gold Singapore were already verified and accepted in later assessments, making the reassessment for AYs 2008-09 and 2011-12 unjustified. Read the case analysis by our associate Ms. Shreya Manchanda, here: https://lnkd.in/gp8RnEaA #MetalegalAdvocates #MetalegalCourtRuling #DelhiHighCourt #IncomeTaxAct #Reassessment #LegalAnalysis

The Supreme Court, in Directorate of Enforcement v. Bibhu Prasad Acharya, clarified that public servants cannot face prosecution under the PMLA without prior government sanction if the alleged offence relates to their official duties. The judgment aligns CrPC provisions (now BNSS) with the PMLA, ensuring fair procedures. Importantly, the BNSS introduces a 120-day limit for sanction decisions, streamlining approvals and reducing delays. Read the detailed case analysis by our associate Ms. Srishty Jaura, here: https://lnkd.in/giqX_67j #MetalegalAdvocates #MetalegalCourtRuling #SupremeCourt #PMLA #PublicServants #SanctionRequirements #CrPC #BNSS #MoneyLaundering #ProceduralSafeguards #LegalAnalysis

Co-authored by our associates, Mr. Manmohan Bhola and Mr. Shivam Mishra, this insight explores how economic offences, including theft, cheating, and criminal breach of trust under the IPC, impact financial stability. Modern crimes like corporate fraud and cyber scams challenge traditional IPC provisions due to their complexity. Supplementary laws, such as PMLA and the Companies Act, address these gaps, yet the IPC remains foundational, often triggering investigations under these laws. Judicial rulings emphasise a case-specific approach, balancing the gravity of economic crimes with the right to bail. Read the full insight here: https://lnkd.in/gRFY4VF6 #MetalegalAdvocates #MetalegalInsights #EconomicOffences #IndianPenalCode #LegalInsights #CorporateFraud #FinancialCrimes #JudicialRulings #PMLA #CheatingAndFraud #LegalInsights

The Delhi High Court granted bail in Hari Om Rai v. Directorate of Enforcement, highlighting the interplay between constitutional rights and stringent bail conditions under the PMLA. The applicant faced allegations of aiding Vivo group’s FDI violations and money laundering but presented insufficient evidence linking him to the crimes. Emphasising Article 21, the Court noted trial delays, co-accused bail, and absence of tampering, reiterating that bail is the rule and jail is the exception in the absence of clear culpability. Read the case analysis by our associate Mr. Shivam Mishra, here: https://lnkd.in/gcEgtPN5 #MetalegalAdvocates #MetalegalCourtRuling #DelhiHighCourt #PMLA #BailJurisdiction #ConstitutionalRights #Article21 #MoneyLaundering #FDIViolations #LegalAnalysis

Tax amnesty schemes have long been a topic of debate in tax policy. They offer a pathway for taxpayers to regularise their obligations while raising concerns about long-term compliance. In this detailed article, our associate, Mr. Ritik Kumar Jha, delves into the evolution, impact, and challenges of tax amnesty schemes in India, from historical programmes like VDIS to contemporary measures such as DT VSVS 2024 and GST Amnesty Scheme 2024. Read the full insight here: https://lnkd.in/dph73k5B #MetalegalAdvocates #MetalegalInsights #TaxAmnesty #TaxCompliance #VivadSeVishwas #DirectTax #GST #TaxLitigation #LegalInsight