Article
Legal reforms in India’s oil & gas sector to unlock strategic investment potential
The article in this issue of Corporate Amicus discusses how India’s oil and gas industry presents significant opportunities for foreign investors, particularly in the light of India’s rising energy demand. It, for this purpose, analyses the key legal reforms under the Oilfields (Regulation and Development) Amendment Act, 2025, which came into force on 15 April 2025. The authors (Noorul Hassan and Shrika C) highlight how these reforms significantly reduce the legal and operational friction typically associated with entering emerging markets and also complement the existing investor-oriented frameworks in India’s upstream oil and gas sector. The authors also highlight that whether in exploration, refining, natural gas, or renewable integration, the Indian market offers not only scale and opportunity but also a supportive, legally secure environment designed for strategic partnership and sustainable growth. According to them, for foreign investors, particularly those offering specialized expertise, cutting-edge technology, and long-term capital, this is an ideal time to enter the Indian energy landscape.
Notifications and Circulars
- Stockbrokers permitted to operate in GIFT-IFSC under Separate Business Units
- Disclosure requirements for Infrastructure Investment Trusts revised
- Disclosure requirements for Real Estate Investment Trusts revised
- Cybersecurity and Cyber Resilience Framework (CSCRF) for Regulated Entities clarified
- Timeline extended for provisions on Offshore Derivative Instruments and Foreign Portfolio Investors
- Investments by FPIs in corporate debt securities through the general route relaxed
- Reserve Bank of India (Digital Lending) Directions, 2025 notified
Ratio decidendi
- Limitation runs from pronouncement and not from delivery of judgment copy – Supreme Court reiterates strict timelines under Commercial Courts Act
- Petition challenging stamp duty show-cause notice is not maintainable where no jurisdictional error proven – Allahabad High Court
- Insolvency – Adjudicating Authority cannot infer interest liability without explicit agreement – Reference to interest in invoice is not material – NCLAT, New Delhi
- Insolvency – Date of default cannot be modified in subsequent petitions to avoid the bar under IBC Section 10A – NCLAT, New Delhi
- Subsequent application to remove the Party from the array of parties is barred after finality of Impleadment Order – Supreme Court
- Individual creditors are not empowered to file an application for avoidance of preferential transactions under IBC Section 43 – NCLAT, New Delhi
- Plaint cannot be rejected entirely if there exists another cause of action which is maintainable – Supreme Court
News Nuggets
- Drug manufacturers invited to apply under the PLI Scheme
- CCPA issues notice to cab aggregator over its ‘advance tip’ feature
- IBC likely to be amended – Prior CCI approval may be scrapped
- Tightening of rules on firms with indirect foreign ownership being considered
- IndusInd Bank and AIC STPINEXT sign pact to support startups and MSMEs
