Recent Developments in Regulatory Law

The Insolvency and Bankruptcy Code (Amendment) Act, 2026 received Presidential assent on 6 April 2026 and introduced a number of amendments to the Insolvency and Bankruptcy Code, 2016. The amendments address the corporate insolvency resolution process, liquidation, pre-packaged insolvency resolution, personal guarantors and other aspects of the insolvency framework.

Among the changes introduced are:

• A new Creditor-Initiated Insolvency Resolution Process (CIIRP) framework, under which notified classes of financial creditors may initiate a resolution process for notified categories of corporate debtors without following the conventional admission route at the outset.
• A framework for group insolvency, allowing proceedings involving interconnected companies within a corporate group to be coordinated through mechanisms including coordination between Committees of Creditors and insolvency professionals.
• Enabling provisions for cross-border insolvency, including a framework for recognition of foreign proceedings and cooperation with foreign courts and authorities.
• Changes to the treatment of certain avoidance transactions, including provisions allowing proceedings concerning such transactions to continue notwithstanding the conclusion of the principal insolvency process.
• Changes concerning the role of the Committee of Creditors during liquidation, including provisions for continued oversight in specified circumstances.
• Clarifications concerning the treatment of dissenting financial creditors, personal guarantors and the transfer of certain guarantor assets in connection with a corporate debtor’s resolution.

The Insolvency and Bankruptcy Board of India subsequently notified amendments to several regulations in June 2026 to give effect to the statutory changes.

The Competition Commission of India (Commitment) Amendment Regulations, 2026, notified on 18 August 2026, amended the Competition Commission of India (Commitment) Regulations, 2024.

The commitment framework provides a procedure through which an enterprise under investigation may offer commitments to address competition concerns, subject to the statutory framework and the Commission’s consideration.

The amendments provide for:

• An increase in the period under Regulation 3(3) from 45 days to 60 days.
• A revised procedure for defective commitment applications, including return of the application and refiling after defects are cured within the prescribed period.
• Adjustment of the fee paid with the original application against the fee payable on refiling.
• An increase in the Commission’s preliminary consideration period from 7 working days to 15 working days.
• An increase in the overall period for concluding commitment proceedings from 130 working days to 180 working days.
• Exclusion of specified periods attributable to furnishing information, clarification or responses from the computation of the 180-day period.
• Updated references to the CCI (General) Regulations, 2024 in place of references to the earlier 2009 regulations.

The amendments came into force upon publication in the Official Gazette.

On 23 July 2026, SEBI issued a revised framework for the transmission of securities following the death of a sole holder or all joint holders. The framework applies to listed securities and units issued by Asset Management Companies.

The revised framework introduces a harmonised, standardised and risk-based process, including:

• A new Quick Transmission Processing (QTP) category for low-value claims, with thresholds of ₹10,000 for physical securities and ₹30,000 for dematerialised securities.
• Revised thresholds for simplified documentation of ₹10 lakh for physical securities and ₹30 lakh for dematerialised securities.
• Standardised forms and documentation requirements for transmission claims.
• A combined affidavit-cum-No Objection Declaration in specified circumstances.
• Acceptance of a death certificate containing a verifiable QR code as an eligible document.
• Removal of the mandatory requirement of probate of a will in cases falling within the applicable framework.
• A prescribed processing period of 21 calendar days after receipt of all required documents.

The revised framework is intended to standardise the process followed by listed companies, registrars and transfer agents, depositories, depository participants and asset management companies.

The Promotion and Regulation of Online Gaming Rules, 2026, notified on 22 April 2026 and brought into effect from 1 May 2026, operationalise the framework established by the Promotion and Regulation of Online Gaming Act, 2025.

The framework distinguishes between prohibited online money games and regulated categories including online social games and e-sports. The Rules provide for:

• Establishment and functioning of the Online Gaming Authority of India.
• A framework for classification and registration of online games.
• A National Registry relating to registered online social games and e-sports.
• Requirements concerning user safety and safeguards in the operation of online games.
• Regulatory requirements relating to payments and financial transactions associated with online gaming.
• Recognition and regulatory treatment of e-sports and online social games.
• Powers for regulatory oversight, investigation and enforcement in relation to the statutory framework.

The Rules therefore establish an operational regulatory structure around a sector that had previously been governed through a combination of statutory provisions, intermediary regulation and differing state-level approaches.