Legal 60

The Supreme Court of India, in In Re: The Waqf (Amendment) Act, 2025, issued a crucial interim order examining the constitutionality of the recently enacted legislation. Headed by Chief Justice B.R. Gavai, the Bench dealt with a series of petitions challenging the validity of the Act, which has drawn criticism for limiting the rights of

SEBI approves Rs.1,200 crore IPO of Hero Motors The company will utilize the funds for repayment of debt and expansion plans According to the draft red herring prospectus (DRHP), Hero Motors has received approval from the Securities and Exchange Board of India (SEBI) to proceed with an initial public offering (IPO). The auto component manufacturing

SEBI reclassifies REITs as equity instruments; surge begins It will boost mutual fund participation, improve liquidity and pave the way for index inclusion After the Securities and Exchange Board of India (SEBI) approved a landmark reform, reclassifying India’s five listed Real Estate Investment Trusts (REITs) as equity instruments, there has been a surge in the

EcoSoul Home Secures $20 Million in Series B Funding to Accelerate Global Expansion and Manufacturing Growth “Sustainable home essentials brand EcoSoul secures funding to boost global manufacturing and retail expansion” EcoSoul Home, a Noida-based sustainable home essentials brand, has successfully raised $20 million (approximately ₹180 crore) in a Series B funding round. The round, led

ITAT Rules Income Declared During Survey is Taxable as Business Income, Not Under Section 115BBE “Income tax tribunal holds Section 28 applies to survey income, not Section 115BBE” In a significant ruling, the Jaipur Bench of the Income Tax Appellate Tribunal has clarified the tax treatment of income declared during a survey under Section 133A

Flipkart’s Myntra sees 18-fold profits as fashion e-commerce accelerates This signifies its continued strength in India’s apparel industry Bengaluru-based online fashion retailer Myntra has reported an 18-fold surge in net profit for the FY ended March 2025. The Flipkart-owned company’s net profit rose to Rs.548 crore from Rs.31 crore in the previous FY. While its

Record Labels Settle Copyright Dispute with Internet Archive Over Vintage Music Project “Internet Archive reaches confidential settlement in music digitization case” A significant copyright dispute between major record labels—including Universal Music Group and Sony Music—and the nonprofit Internet Archive has reached a confidential settlement. The resolution, announced in a joint filing on Monday in a

Major Hollywood Studios File Copyright Lawsuit Against China’s MiniMax Over AI Service “Major Hollywood studios sue MiniMax over AI copyright infringement” Leading Hollywood studios Walt Disney, Comcast’s Universal, and Warner Bros Discovery have jointly initiated a copyright infringement lawsuit against China-based AI company MiniMax. The legal action concerns MiniMax’s image- and video-generating service, Hailuo AI,

SEBI’s extended inquiry against Jane Street reveals additional suspicious trading patterns The firm’s troubles seem to increase, as the Central Board of Direct Taxes builds a case against it for misusing India’s tax treaty Even as the Securities and Exchange Board of India (SEBI) investigates US-based trading firm Jane Street, the new detections point to

Sid Swaminathan, Jio BlackRock CEO, expects India’s MF industry to witness massive rise The country’s equity markets have more than doubled over the last five years and drawn millions of retail investors Sid Swaminathan, Chief Executive Officer of Jio BlackRock Asset Management, an alliance partner of Mukesh Ambani’s Jio Financial Services Ltd., and the world’s