By Archana Balasubramanian When a company's commercial contracts diverge from its physical inventory and cash flows, regulatory gridlock is inevitable. Mismatches across banking, customs, and tax filings do not just trigger compliance flags, they choke working capital and halt operations. The Directorate General of Foreign Trade (DGFT) officially notified “Introduction of Inventory-based Cross-border E-Commerce Export... Continue Reading →
The Connected-Vehicle Audit Mandate: Securing Firmware, Telematics and FOTA Loops Across Auto Supply Chains
A connected-vehicle, an automobile equipped with internet access, onboard sensors, and telematics systems that enable it to continuously share and receive data with cloud platforms, external devices, road infrastructure, or other vehicles, risk’s often becomes visible when a new platform reaches homologation, i.e., official regulatory approval, and an auditor asks for evidence that the manufacturer... Continue Reading →
Navigating the Quick-Commerce FDI Audit: Restructuring Ownership and Dark-Store Contracts After an Indian Equity Shift
By Archana Balasubramanian A quick-commerce platform often believes that the most difficult phase in its restructuring is complete once domestic ownership crosses the 50% threshold. The more consequential questions emerge when auditors test whether contracts and internal processes reflect that new ownership reality. Corporate restructurings rarely fail because the cap table is wrong. They become... Continue Reading →
Closing the Interim Stay Trap: How the 2026 IBC Amendment Has Rebalanced Personal Guarantor Risk
By Nitin Jain A lender is closest to recovery when the economics of the dispute change completely, with an auction scheduled and physical possession hours away. A notice then arrives attaching an NCLT e-filing receipt for a personal insolvency application. Under the earlier regime, no tribunal needed to examine the filing before the auctioneer paused... Continue Reading →
The New Buy-Back Playbook: Easing Capital Exits Without the Merchant Banker Safety Net
By Archana Balasubramanian SEBI’s June 19, 2026 board approval reintroduces open-market buybacks through stock exchanges from August 1, 2026, permits completion through a compressed 66-working-day framework, and makes the merchant banker appointment discretionary. This is a significant change from the earlier framework, where appointing a merchant banker was mandatory and much of the execution process... Continue Reading →
Use of IPO Proceeds: Why SEBI Questions “General Corporate Purpose” More Closely Today?
This is Part – VIII of the Capital Markets article series. An Initial Public Offering (IPO) is a landmark event in the lifecycle of any company. Beyond the transfer of stakes, rebalancing of the capital structure, etc., the IPO acts as a fundamental public trust exercise where the retail and institutional investors commit capital subject... Continue Reading →

