Edition 124 • September 2026
Q3: Monsoon Mandate
Lawtitude
UN – Modernizing Global Tax
Decoding IPR
Delhi HC’s ‘fair dealing’
Arbitration
When does the clock tick?
IPR
Delhi High Court Backs OpenAI on Fair Dealing in Landmark AI Training Case
In a first, The Delhi High Court denied ANI Media’s request for an interim injunction against OpenAI, ruling that training ChatGPT on news content is prima facie fair dealing under Indian copyright law, though the main lawsuit and an appeal remain pending.
Insights
Rule 9B and the Foreign Shareholder
Rule 9B of the Companies (Prospectus and Allotment of Securities) Rules, 2014 on mandatory share dematerialization creates strict e compliance chokepoints and transactional risks for Indian private subsidiaries with foreign corporate shareholders. Transaction teams must therefore proactively mitigate these exposure risks early at the term-sheet stage.
Lawtitude
UN Advances Negotiations on Framework Convention for International Tax Cooperation
The United Nations advanced negotiations endeavours to put in place a Convention on International Tax Cooperation with the objective of aligning the traditional tax systems with international tax rules.
Verdict
Responsibility Government Body for Public Welfare in a Commercial Venture
The Supreme Court has ruled that NOIDA cannot levy penal time-extension charges on home buyers who pooled their resources to complete delayed housing projects after the original developer went insolvent.
Arbitration
Section 34 of A&C Limitation Runs From Section 33 Disposal, Rules Supreme Court
The Supreme Court ruled that the limitation period for challenging an arbitral award under the Arbitration Act begins only after a correction application is disposed of.
clause & effect
The Public Examinations (Prevention of Unfair Means) Amendment Act, 2026 [Act No. 10 of 2026]
The central government has enacted The Public Examinations (Prevention of Unfair Means) Amendment Act, 2026, alongside forming a Nandan Nilekani-led task force to overhaul the nation’s testing infrastructure.
Yin & Yang
Right to Protest v/s Duty to Protect: Balancing Act
The right to protest empowers citizens to peacefully assemble and voice grievances, which is a vital cornerstone of any democratic society. Simultaneously, the government holds a fundamental duty to maintain public order and protect all citizens from violence and disruption. A delicate balance.
In focus
UPI Transactions above ₹2000 to Attract Merchant Discount Rate (MDR)
The Ministry of Finance has introduced tiered fee system for Person-to-Merchant (P2M) – a revised Merchant Discount Rate (MDR) framework for select UPI transactions exceeding Rs. 2,000, set to take effect from 15 October 2026.