JSA in
News

Amendments propose removal of key curbs, greater boardroom control Insurance Law Changes Set to Benefit Global Parents of JVs Shilpy Sinha Mumbai: Global insurers such as Generali and Ageas, which have already raised their stakes in Indian ventures to the maximum 74% allowed for foreigners, stand to gain from draft amendments to insurance laws that propose scrapping key curbs. The changes, which were proposed as draft on August 29 and are to be tabled in Parliament, ease conditions imposed in 2021 when the foreign direct investment (FDI) cap was lifted from 49% to 74%. Read more at Economic Times Mumbai | Economic Times Kolkata

In a move that will facilitate a quicker turnaround of insolvent companies, the government has proposed a key change to the country’s bankruptcy law that will let the firms’ revival plans move ahead even if the lenders are locked in disputes over how to share the proceeds, two people aware of the discussions within the government said. A provision in the Insolvency and Bankruptcy Code (Amendments) Bill, 2025, tabled in Parliament, allows tribunals to first approve a company’s resolution plan and take up disagreements among creditors on distribution later, they said. Read Article

The government’s draft norms for the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2015, are expected to ease compliance for foreign investment in the sector and give comfort to global players, according to experts. The norms, put out last week, propose to omit the clause that requires a majority of directors and key management persons (KMP) to be resident Indian citizens in companies that have significant foreign investment. This, according to experts, is expected to ease the compliance burden for companies. Read Article

The nine-year-old Insolvency and Bankruptcy Law has already undergone six rounds of amendments since its inception 2016, but none have been so wide-ranging and corrective in action as those proposed in the Bill tabled in the recently concluded monsoon session of Parliament. Unlike its initial years, when ordinances changed the Insolvency and Bankruptcy Code’s (IBC) key provisions overnight, the latest round of proposed changes have come after deliberations lasting three years. Read Article

The rapid development of artificial intelligence (AI) has its fair share of advantages and disadvantages. AI has ventured into many different sectors, giving individuals the option to use AI in multiple unique ways. One of the most creative yet contentious areas where AI is used is the synthetic content creation. Synthetic content creation, while it gives scope for innovations, has also led to an increase in deepfakes, voice cloning, misinformation, and resulted in financial scams, privacy infringement, and identity theft. The hyper-realistic AI-generated audio and video blur the line between truth and fiction, having the potential to affect individuals’ safety and privacy when used maliciously. Read Article

For venture capital (VC) investors who have infused several million dollars into gaming startups, the sweeping ban on online real-money gaming (RMG) has put their investments at risk. Some investments could be written off and valuation markdowns look certain. It unsettles domestic and international investors to have the policy changed on the fly, added Ranjeet Shetye, venture partner at YourNest. Such a drastic shift signals to investors that the Govt can arbitrarily dismantle a thriving sector, creating significant regulatory risk, said Probir Roy Chowdhury, partner at JSA Advocates & Solicitors. Read Article

The passage of India’s Online Gaming Bill 2025 has sent shockwaves through the gaming industry, with major platforms already shutting down operations and industry leaders warning of devastating economic consequences as the government implements a blanket ban on real-money gaming. Read Article

Two days after the Promotion and Regulation of Online Gaming Bill, 2025, cleared the Lok Sabha, President Droupadi Murmu gave her assent to the much-talked-about bill, which aims to put a full stop to the entire real-money gaming industry in India, which employs thousands of people directly and indirectly. Read Article

 The Income Tax Department has instructed its officials not to initiate prosecution in cases where aggregate value of undisclosed foreign assets (other than immovable property) is up to ₹20 lakh. Earlier, this threshold was ₹5 lakh. New threshold will be effective from October 1, 2024. This instruction is important as the due date for filing the income tax return (ITR) for the assessment year 2025-26 ) is September 15, 2025. Read Article

Union Minister Ashwini Vaishnaw introduced the Promotion and Regulation of Online Gaming Bill, 2025, in Lok Sabha on Wednesday. The Bill aims to promote and regulate esports, educational, and social games, while completely prohibiting the offering, operation, facilitation, advertisement, promotion, and participation in online money games. Read Article

The online gaming bill, which sailed through the Lok Sabha on Wednesday, seeks to ban all online games played with money to curb rising instances of addiction and financial fraud. The new bill also prohibits advertising and promotion of money games across all forms of media. Online money games currently operate in the absence of a dedicated institutional and legal framework. According to the ministry of electronics and information technology (MeitY), the Promotion and Regulation of Online Gaming Bill, 2025, was brought forward to protect society from the harmful effects of the misuse of technology. Read Article

India’s s decision to potentially ban real-money online games has blindsided the $30-billion industry, risking 200,000 jobs and billions in tax revenue. Executives say they were working with regulators on tighter oversight—only to be outlawed overnight. Investors warn the potential move could erode confidence in India’s digital economy. Read Article