Articles and Updates

• Radhika Raman, Naman Saxena - 09-10-2026

Novation has existed in Indian over the counter ("OTC") derivative markets for years, but as derivative volumes and market maker turnover grew, the absence of a comprehensive framework spanning asset classes became a genuine gap. In July 2025, the Reserve Bank of India ("RBI") released a draft titled "Reserve Bank of India (Novation of OTC Derivative Contracts) Directions, 2025", seeking to close this gap through a unified set of directions.

• Kunal Mehra and Danish Khan - 08-10-2026

The Delhi High Court, by its judgment dated 8 September 2026, dismissed the appeal filed by UltraTech Cement Limited (UltraTech) challenging the order of the Competition Commission of India (CCI) impleading the Builders’ Association of India (BAI) to participate in proceedings initiated by the CCI against cement manufacturers under Section 26(1) of the Competition Act, 2002 (Act).

• Aman Avinav, Dilraj Singh Bhinder, Kumar Rishabh Parth and Karnit Chadha - 07-10-2026

The appellant challenged the impugned order passed by the Hon’ble High Court u/s 37(2)(a) of the Arbitration and Conciliation Act, 1996 (“Act”) whereby the High Court affirmed the order dated 23.10.2024 passed by the Ld. Sole Arbitrator directing the deletion of respondent nos. 2, 3, 5 and 7 from the array of parties to the arbitral proceedings, on the finding that they were non-signatories to the agreements in their personal capacities.

• Pallavi Bedi, Ashita Bali, Ishita Rai and Aamir Javed - 18-09-2026

Set out below are some of the major recent developments in the clean energy sector in India: Ministry of New and Renewable Energy, Government of India ("MNRE") on July 23, 2026, issued a model service agreement (a facilitative reference document) for 'Electrolyser as a Service' in furtherance to the National Green Hydrogen Mission. The model is intended to reduce the consumer's upfront capital expenditure and facilitate contracting between electrolyser service providers and consumers.

• Kunal Mehra and Danish Khan - 14-09-2026

The Competition Commission of India (CCI), by its order dated 21 August 2026, held the Agro Input Dealers Association (AIDA), Agro Input Welfare Association (AIWA), and certain office bearers liable for coordinating and implementing a boycott on the online sale of agri-input products.