AK & Partners

23/11/2024

🌐 AI Regulation: India vs. the EU 🌐

As AI technology evolves rapidly, both the EU and India are shaping their regulatory approaches. The EU's recent AI Act introduces a comprehensive framework to manage AI risks and ensure ethical practices across member states.

In contrast, India is developing its regulatory approach through initiatives like the Digital India Act and various advisories from MeitY, focusing on responsible AI use and data protection.

Read more about AI Regulation in this article published on Mondaq, titled ‘AI Regulation in India vs. the EU: Balancing Innovations and Risks’, by Ms. Kritika Krishnamurthy and Niket Khandelwal here -
https://www.mondaq.com/india/new-technology/1509322/ai-regulation-in-india-vs-the-eu-balancing-innovation-and-risk

This Article gives an overview about "Balancing Trade and Sustainability: Impact of EU's Deforestation-Free Policy on Trade Dynamics". Find out more on Chambers and Partners.

22/11/2024

The EU's Regulation on Deforestation-Free Products (EUDR) is set to reshape global trade by targeting deforestation-related commodities. This regulation is a game-changer for global trade, particularly for countries like India that export key commodities to the EU.

🌍🌱 This policy is not just a regulatory hurdle; it's an opportunity to lead in sustainability and reshape how we trade globally. 🌳🚫

As businesses and governments navigate these new regulations, collaboration and innovation will ensure compliance and foster sustainable trade relationships. Read the full article on Mondaq for an in-depth analysis of EUDR's impact and the future of sustainable trade here by Anuroop Omkar - https://chambers.com/articles/balancing-trade-and-sustainability-impact-of-eus-deforestation-free-policy-on-trade-dynamics

This Article gives an overview about "Balancing Trade and Sustainability: Impact of EU's Deforestation-Free Policy on Trade Dynamics". Find out more on Chambers and Partners.

21/11/2024

The lines between privacy and public information are increasingly blurred in today's digital age. Enter the Right to be Forgotten (RTBF), a crucial concept allowing individuals to reclaim their digital footprints. 🕵️‍♂️💻

As India continues to refine its data protection laws, the RTBF will play a pivotal role in shaping the future of digital privacy. 🌐

For an in-depth analysis and to stay updated on this evolving legal landscape, read the full article on Chambers and Partners by Ms Kritika Krishnamurthy and Kostub Singla 📊 🔍

Read Now: https://chambers.com/articles/the-right-to-be-forgotten-a-comparative-analysis-of-india-s-emerging-framework-and-the-eu-s-gdpr

This Article gives an overview about "The 'Right to be Forgotten': A Comparative Analysis of India’s Emerging Framework and the EU’s GDPR". Find out more on Chambers and Partners.

20/11/2024

The Registrar of Companies had penalised LinkedIn India for non-compliance with SBO Rules, shaking up the corporate world. This article demystifies SBO, detailing its definitions, obligations, and regulatory compliance under the Companies Act 2013. 📈

https://www.mondaq.com/india/directors-and-officers/1513884/significant-beneficial-ownership-what-all-the-fuss-is-about

Read the full article for an in-depth understanding, on Mondaq, titled “Significant Beneficial Ownership: What the fuss is all about”, by Anuroop Omkar and Aditya Raj! 📚🌐

The Registrar of Companies (‘RoC') recently penalised LinkedIn India for non-compliance with Companies (Significant Beneficial Ownership) Rules, 2014 ("SBO Rules"), which caused a stir in the Indian corporate world.

19/11/2024

Thanks to its robust economic growth, transparent policies, and welcoming business environment, India has become a global hotspot for foreign investment, or downstream investment 🌏💼

But what exactly is downstream investment? - It is when foreign investors channel their funds through an Indian subsidiary to invest in another Indian entity. This setup is crucial for understanding the landscape of indirect foreign investments in India. 🧠📚

For a deeper dive into the complexities and opportunities of downstream investments in India, check out the full article on Mondaq by Anuroop Omkar and Abhishek Thakur -
https://www.mondaq.com/india/inward-foreign-investment/1522840/understanding-downstream-investment-in-india

Over the years, India has emerged as a preferred destination for foreign investment. Besides the sustained gross domestic product growth of the economy, which has expanded the market in India, the enabling environment.

18/11/2024

With the deadline fast approaching for Indian market participants to implement local initial margin rules for uncleared derivatives in November 2024, banks are under pressure to review and renegotiate their credit support systems. The upcoming regulatory requirements necessitate amending existing agreements to include provisions for initial margins, presenting significant operational and legal challenges.

We are thrilled to announce that our founding partner, Anuroop Omkar, shared his expert insights on these pressing issues in a recent article published by Risk.net. His analysis sheds light on the complexities of this transition and offers guidance on how market participants can navigate these changes effectively.

To explore the full discussion on the challenges and potential solutions, read the article here -
https://www.risk.net/regulation/7960003/indian-initial-margin-launch-brings-operational-headaches

17/11/2024

📢RBI has released its latest statement on developmental and regulatory policies, introducing key measures for both regulations and payment systems.

From new guidelines on foreclosure penalties and capital-raising avenues for cooperative banks to enhancements in UPI limits and the introduction of a beneficiary account name look-up facility for RTGS and NEFT—these updates will significantly impact India’s banking landscape.

Along with these updates, AKP in the digital post provides industry insights to help you navigate these changes.

Explore our latest post for more details!

16/11/2024

🔍 Adapting to a New Era: Insights from Law.asia (IBLJ) Intelligence Report 2024 📚

2024 is a pivotal year for India’s banking and finance sector, with significant shifts in government, global markets, and the rise of artificial intelligence reshaping the industry. Navigating this dynamic landscape demands legal expertise that is agile and forward-thinking.

In the Intelligence Report, our founding partner, Anuroop Omkar, shares insights on how these changes create new challenges and opportunities for legal professionals.

What does the future hold for India’s legal sector? How should firms position themselves to thrive in this environment? The report is an essential read for legal professionals aiming to chart their course in 2024 and beyond.

🚀 Stay informed and ahead of the curve!
https://law.asia/indian-legal-market-2024-challenges/

Professional attrition, technology and foreign firms are the major puzzles facing Indian law firms, our annual state of the legal market survey reveals...

15/11/2024

The establishment of the International Financial Services Centres Authority (IFSCA Official) is poised to create an efficient dispute resolution architecture, positioning GIFT City (Gandhinagar) as a hub for International Commercial Arbitration. 🌍⚖️✨

Join us in exploring how the new Alternate Dispute Resolution Center (ADRC) in GIFT City is set to become a global powerhouse in dispute resolution, as detailed by our founding partner, Anuroop Omkar, in this latest article published in Legal 500. 📈🔍

Read more here:
https://my.legal500.com/developments/thought-leadership/new-adrc-in-gift-city-set-to-revolutionize-global-arbitration-and-third-party-funding/

14/11/2024

We are delighted to share that our Founding Partner, Anuroop Omkar, has been awarded Rank 1 in the Mondaq Autumn 2024 Thought Leader Award India in the Banking & Finance category! 🏆🎉

Whether it’s interpreting regulatory shifts or strategising for the ever-evolving dynamics of banking laws, Anuroop Omkar's leadership has set new benchmarks and inspired our Team consistently. 💼📈

The award-winning article clinched this accolade and breaks down the evolving Net Owned Fund (NOF) requirements for NBFCs under the RBI’s Scale-Based Regulation (SBR) framework, offering a clear guide on capital thresholds and compliance paths. 📊🔍

👉 Read the full article here - https://www.mondaq.com/article/1469846

A heartfelt thank you to the Mondaq community, our clients, and colleagues for your unwavering support. Here’s to advancing knowledge and driving excellence in India’s financial sector! 🚀

13/11/2024

FinTech India 2025: Your Roadmap to Navigating Innovation and Regulation!

The future of India’s fintech industry is here! AK & Partners’ Comparative Guide on FinTech in India is now live on Lexology 📘✨

This guide explores key regulatory frameworks and emerging trends in areas like digital payments, blockchain technology, and P2P lending, helping fintech leaders turn compliance into a competitive advantage.

Discover actionable insights to drive growth, stay compliant, and capitalize on India’s rapidly evolving fintech landscape. Check it out -
https://www.lexology.com/panoramic/tool/workareas/report/cf97b3d2-6943-49aa-a5aa-769cd6e70fcb

Lexology delivers the most comprehensive source of international legal updates, analysis and insights for law firms and in-house counsel.

28/10/2024

The Delhi High Court recently addressed a crucial question: Is mediation obligatory for counterclaims in commercial disputes?

The court emphasised that both claims and counterclaims must adhere to the same legal obligations, reinforcing the mandatory nature of pre-institution mediation. 📜🚨

This judgment highlights the importance of compliance with mediation protocols. It reminds professionals that every party has a right to participate in mediation before filing a suit or counterclaim.

🔗 Read the full article titled, ‘Applicability of Pre-Institution Mediation to Counterclaims’, by our litigation partner, Shreyas Mehrotra, on Chambers and Partners! - https://chambers.com/articles/applicability-of-pre-institution-mediation-to-counterclaims

This Article gives an overview about "Applicability of Pre-Institution Mediation to Counterclaims". Find out more on Chambers and Partners.