Ahewal Business Intelligence

1.Indian Cos Rush to Align with UAE Minimum Tax

As the United Arab Emirates implements a new minimum tax regime, Indian multinationals are assessing their exposure and the economic implications of their structures in the UAE. The 15% minimum tax could reduce the benefits of the UAE's 9% corporate tax rate and 0% levy on qualifying free-zone income for some large multinational groups. The OECD's Pillar 2 global minimum tax framework will apply to multinational groups with consolidated global revenue of at least €750 million ($871 million) in two of the four preceding years.

CAs should prepare clients for compliance with the new UAE tax regulations and assess their tax strategies.

Economic Times

2.Nov 30 Registration Deadline for UAE Top-Up Tax

Indian multinational companies with operations in the UAE must register for the domestic minimum top-up tax (DMTT) by November 30, 2026. The DMTT applies if a company is paying less than 15% tax, and firms need to file the first return by June 30, 2027. Compliance inquiries have increased among Indian-headquartered groups following recent guidance from the UAE federal tax authority.

This registration is crucial for compliance and tax planning for clients with UAE operations.

ET · Economic Times

3.Supreme Court Slams Customs for AI-Generated Fake Citations, Sets Aside Penalty

The Supreme Court set aside a ₹425 crore penalty imposed on diamond trader Vijay Ghanshyam Gadiya for misdeclaring diamonds. The court criticized the customs department for relying on non-existent cases and fake citations generated by AI. The penalty was deemed unsustainable due to the dubious material used in the case.

This ruling underscores the importance of accurate legal citations and the potential consequences of relying on AI-generated information in regulatory actions.

Our Political Bureau · Economic Times

4.What homebuyers should do if developer asks them to pay stamp duty

The Maharashtra Real Estate Regulatory Authority (MahaRERA) ruled that a developer cannot shift stamp duty and registration charges to a homebuyer after promising to bear them at the time of booking. In a case involving a buyer who paid more than ~1.50 crore for a plot near Mumbai, the developer attempted to pass the cost to the buyer, citing a typographical error. MahaRERA rejected this argument, stating that the project statement indicated the developer would bear the charges.

Homebuyers must ensure developers adhere to agreed terms regarding stamp duty and registration charges.

Maharashtra Real Estate Regulatory Authority (MahaRERA) · Business Standard

5.Bharat New Car Assessment Programme (NCAP) 2 to Assess Vehicle Safety Chain from October 2027

The government plans to roll out Bharat NCAP 2 from October 2027 to assess the entire vehicle safety chain. This program will evaluate the safety of vehicles, building on the success of Bharat NCAP, which crash-tests passenger cars and awards safety ratings. The cost of vehicle testing in India is significantly lower than in other countries, making it a preferred destination for vehicle testing.

This program will impact compliance and safety standards for automobile manufacturers.

Ministry of Road Transport and Highways · Economic Times

6.Corporate affairs ministry plans compliance overhaul

The corporate affairs ministry is developing a reform blueprint to enhance the compliance architecture under the Companies Act. Key themes include improving the MCA21 portal for corporate filings, technology-enabled compliance, and rationalization of forms. The aim is to expedite company registrations, which currently take 10-15 days, and streamline voluntary closure applications, which take about two months.

This overhaul could significantly reduce compliance burdens for companies.

Mint · Mint

7.Govt rewriting corporate compliance rulebook

The Indian government is revising corporate compliance norms to ease the compliance burden on companies, particularly MSMEs. The proposed changes include decriminalizing civil offences related to compliance and exempting certain classes of companies from mandatory corporate social responsibility (CSR) and auditor appointment requirements. The proposals aim to streamline compliance workflows and expand automatic approvals through the MCA21 portal.

These reforms could significantly reduce the compliance burden for companies, especially MSMEs.

Mint

8.Auto industry warned of stricter norms for ICE vehicles

The government indicated that stricter regulations for internal combustion engine (ICE) vehicles are forthcoming, with a focus on electric vehicles (EVs). The Delhi Cabinet approved a policy that will not allow registration of ICE two-wheelers from April 1, 2028, and only electric three-wheelers and light commercial vehicles will be permitted from January 1, 2027.

These upcoming regulations will require automobile manufacturers to adapt their strategies towards EV production.

Ministry of Heavy Industries · The Hindu BusinessLine

9.FDA Nod Must in Maha for Iftaars, Langars, Weddings

Maharashtra FDA Commissioner Tukaram Munde has mandated that organisers must obtain prior permission from the FDA for events such as iftaars, bhandaras, langars, and food served at weddings. Organisers are required to file a proforma detailing the caterer and ingredients used. Only licensed caterers will be allowed to distribute food.

CAs should ensure clients comply with new food safety regulations to avoid penalties.

Maharashtra FDA · Economic Times

10.ESIC aims to expand social security for gig workers through reforms

The ESIC is initiating reforms to expand social security coverage for gig and platform workers, following the implementation of the Code on Social Security. The Director General stated that there are currently four crore insured persons, and the aim is to create a digital system to streamline operations and improve service delivery. The upcoming rollout of Panchdeep 2.0 is central to this strategy.

These reforms could significantly impact the social security landscape for gig workers.

Employees’ State Insurance Corporation (ESIC) · The Hindu BusinessLine

11.Sebi to issue consultation paper on settlement prices of derivative contracts

The Securities and Exchange Board of India (Sebi) will issue a consultation paper proposing changes to the methodology for determining settlement prices of derivative contracts. This follows feedback on the recently implemented closing auction session (CAS) mechanism, which has caused sharp price spikes and distortions. The new methodology will address the discrepancies noted between the BSE Sensex and NSE Nifty during the CAS window.

Changes in settlement price methodology can affect trading strategies and compliance for market participants.

Securities and Exchange Board of India · Business Standard

12.Why SC rejected a ₹900 cr claim against Edelweiss

The Supreme Court ruled that Professional Clearing Member Nuvama Clearing Services Ltd cannot be forced to pay back or restore client securities worth over ₹900 crore. The court overturned lower tribunal orders, stating that PCMs operate without direct client-level visibility under earlier regulatory rules and therefore cannot be held liable for defaults committed by independent stockbrokers. The ruling clarifies the responsibilities of clearing members in the context of unauthorized trading activities.

This ruling clarifies the liability of clearing members in cases of stockbroker defaults.

Supreme Court of India · Mint

13.SEBI to make changes in CAS derivative price determination in a week

SEBI is set to introduce changes to the methodology for determining settlement prices for derivative contracts following the implementation of the newly introduced Closing Auction Session (CAS). The announcement of these changes is expected within a week, after SEBI engaged with market participants and stakeholders for feedback.

Changes in derivative pricing methodology can affect trading strategies and compliance for market participants.

Securities and Exchange Board of India (SEBI) · The Hindu

14.SC disposes of Sebi pleas against NSE

The Supreme Court disposed of pleas by Sebi against NSE regarding the colocation and dark fibre cases after Sebi approved a ₹1,491.21 crore settlement with NSE. The cases involved allegations of preferential access to market data for certain stockbrokers. NSE had previously paid ₹714.74 crore to Sebi as part of the settlement.

The resolution of these cases may impact regulatory practices and compliance in the securities market.

PTI · The Hindu BusinessLine · Business Standard · Mint

15.FSSAI mulls rules to ban analogue paneer, curb junk food sales near school campuses

The FSSAI is considering a nationwide ban on analogue paneer, which is made with vegetable oils, starches, and additives that replace milk fats and solids. Eight states have already banned analogue paneer. The regulator is also working on a rule to restrict the sale of food products high in salt, sugar, and unhealthy fat within 50 meters of school campuses, which is currently in draft stage.

This regulation will impact food businesses and e-commerce platforms, requiring compliance with new sales restrictions.

Food Safety and Standards Authority of India (FSSAI) · The Hindu BusinessLine

16.FSSAI crackdown spooks food biz

A recent crackdown by the FSSAI on restaurants has led to a 40% increase in compliance-related queries from food businesses since July. Queries include hygiene, storage, food preparation practices, and documentation requirements. The heightened scrutiny has resulted in a significant rise in training sessions for compliance with FOSTAC (Food Safety Training and Certification).

Food businesses must adapt to increased compliance scrutiny and training requirements to avoid penalties.

Food Safety and Standards Authority of India (FSSAI) · Business Standard

17.Aditya Birla Group Forays into Wires & Cables with ₹1.8kcr Investment

Aditya Birla Group has launched a new business, Ultravolt, in the wires and cables sector with an investment of ₹1,800 crore. This venture will be housed under UltraTech Cement Ltd and aims to become the second-largest player in the wires segment by capacity at launch. Ultravolt plans to target over one lakh retailers and will roll out products across more than 500 districts and 6,000 pin codes.

This expansion indicates a significant investment in the construction value chain, which may affect related sectors.

ET · Economic Times · The Hindu

18.UTI AMC may put ₹2,000 cr stake on sale

UTI Asset Management Co. Ltd (UTI AMC) is likely to sell shares worth around ₹2,000 crore through an initial public offering (IPO) and a subsequent offer for sale by March. The share sale will allow UTI AMC’s four state-run sponsors—State Bank of India (SBI), Life Insurance Corporation of India (LIC), Bank of Baroda (BoB), and Punjab National Bank (PNB)—to partially sell their stakes.

Relevant for advising clients on investment opportunities and market movements related to UTI AMC.

Mint · Mint

19.HD Hyundai delegation visits Thoothukudi over shipyard plans

A high-level delegation from South Korea’s HD Hyundai is in Thoothukudi to discuss setting up a major shipbuilding facility. The project is planned over 2,050 acres with a waterfront of 2.4 km, adjacent to the V.O. Chidambaranar Port.

This development may create significant opportunities in the shipbuilding sector.

businessline · The Hindu BusinessLine

20.U.P. withdraws order to cap sugar prices

The Uttar Pradesh government withdrew its order that fixed a cap of ₹5,000 per quintal for sugar. The order was initially issued to curb rising sugar prices during the festival season. The withdrawal was based on arguments from mills that the order was not in accordance with the law.

This change affects pricing strategies for sugar mills and traders in Uttar Pradesh.

Uttar Pradesh Government · The Hindu BusinessLine

21. Goyal: Will do the US trade deal only if tariff rates better than rivals Ministry of Commerce

22. Over a decade after exit, GST 2.0 collections see wide divergence across top States

23. GDP rejig being misread, says MoSPI Secretary Ministry of Statistics and Programme Implementation

25. NCDEX, CAI team up for cotton derivatives trading NCDEX Ltd, Cotton Association of India