JSA

26/09/2026

JSA Prism | Dispute Resolution | September 2026

An arbitration clause in loan agreements can bind non-signatory personal guarantors where such guarantees constitute an inseparable part of the loan agreement

In a significant judgment, the Supreme Court of India has held that an arbitration clause in a loan agreement can be incorporated into a personal guarantee under Section 7(5) of the Arbitration and Conciliation Act, 1996. This applies where the contractual framework treats the guarantee as an integral and inseparable part of the loan agreement. The absence of a separate arbitration clause in the guarantee, or the guarantor’s failure to sign the loan agreement in his personal capacity, would not, by itself, preclude the guarantor from being bound by the arbitration agreement.
The judgment underscores the significance of the manner in which interconnected transaction documents are structured. For lenders and other commercial entities, the decision highlights the importance of ensuring that the contractual framework clearly integrates ancillary agreements, including personal guarantees, with the principal agreement. On the other hand, guarantors should carefully assess the incorporation and dispute resolution provisions of the principal agreement, as the structure and language of the transaction documents may determine whether they are subject to the agreed arbitral mechanism.

To read further details, please click here: https://www.jsalaw.com/newsletters-and-updates/jsa-prism-dispute-resolution-september-2026-6/

Dheeraj Nair | Pratik Pawar | Shanaya Cyrus Irani | Vishrutyi Sahni | Sanjana Pandey | Sneha Arora

25/09/2026

JSA Prism | Insurance | September 2026

Insurance Regulatory and Development Authority of India consultation paper: Recalibrating economics of insurance distribution

The Insurance Regulatory and Development Authority of India has released a consultation paper (“Consultation Paper”) titled ‘Recalibrating Economics of Insurance Distribution’ seeking to overhaul the regulatory framework governing insurance distribution in India.

The Consultation Paper proposes significant reforms to simplify the distribution architecture, ease entry and capital requirements, expand the scope of business for distribution entities, recalibrate the expenses and commission frameworks for insurers and insurance distributors. It also proposes stronger safeguards for policyholders against mis-selling.

If implemented, the proposed reforms will require insurers, intermediaries, and other stakeholders to assess key considerations and implement compliance measures.

To read further details, please click here: https://www.jsalaw.com/newsletters-and-updates/jsa-prism-insurance-september-2026/

Sidharrth Shankar | Shivangi Sharma Talwar | Amogh Sharma | Pallov Upadhyay

25/09/2026

Speaking at the AIBI Mid-Term Conference 2026 on “India Capital Markets: Navigating Geopolitics, Capital and Growth,” Arka Mookerjee, Co-Head of Equity Capital Markets, touched upon recent regulatory and factual trends in Indian IPO markets, ranging from disclosure requirements to valuation expectations.

Arka was joined by:

🔹 Sonia Dasgupta, Managing Director & CEO (Investment Banking), JM Financial Ltd,

🔹 Lakha Nair, Managing Director, Axis Capital Ltd.

🔹 Prasanna Balachander, Head of Investment Banking & Institutional Equities, ICICI Securities

🔹 Lunavat, Chairman, ASSOCIATION OF INVESTMENT BANKERS OF INDIA

Arka acted as the legal voice on a panel of illustrious industry veterans who were expounding on developments in Indian capital markets and its continued evolution. As capital markets evolve, the role of counsel evolves with them, connecting regulation with readiness, and today’s requirements with tomorrow’s opportunities.

25/09/2026

Our Partner, Prasanth V.G., shared his insights in a video feature at the JSA X ET Boardroom Connect – Bengaluru Edition organized in collaboration with ETLegalWorld

The discussion explored the evolving role of Global Capability Centres (GCCs) in India, with a focus on data protection, data management and the opportunities and challenges presented by AI. The session brought together perspectives on how GCCs can move beyond traditional cost considerations and take on increasingly strategic roles.

Watch the video: https://legal.economictimes.indiatimes.com/news/corporate-business/gccs-data-protection-and-ai-at-the-heart-of-jsa-boardroom-connect-discussion-jsas-prasanth-v-g-/134456114

The JSA Boardroom Connect 5th Edition focused on Global Capability Centres (GCCs), data handling, and artificial intelligence (AI) challenges and possibilities, featuring insights from Prasanth V.G. of JSA Advocates & Solicitors.

25/09/2026

Our Partner, Fatema Kachwalla, authored an article in Outlook India titled “Column | Crackdown on Unsafe Practices Must, But Law Must Be Followed.”

The article examines the enforcement of food safety regulations in Maharashtra and the importance of ensuring that regulatory action is carried out within the framework of law. It discusses the Bombay High Court’s emphasis on fair and consistent enforcement, while noting that immediate regulatory action should be reserved for genuine public health concerns.

Read the full article: https://www.outlookindia.com/national/column-crackdown-on-unsafe-practices-must-but-law-must-be-followed

Regulators must act against unhygienic and unsafe practices, but actions must be exercised within the framework of the law

25/09/2026

Our Partner, Hormuz Mehta, was quoted in The Times of India in an article titled “Your evidence may be on CCTV. The problem is getting it in time.”

The article examines the challenges in accessing CCTV footage as evidence, including the risk of footage being overwritten and legal limitations around obtaining such records. It also highlights the need for timely preservation of CCTV footage and a more standardised mechanism for preserving and accessing such evidence.

Read the full article: https://timesofindia.indiatimes.com/legal/news/your-evidence-may-be-on-cctv-the-problem-is-getting-it-in-time/articleshow/134460385.cms

A CCTV camera may have recorded exactly what happened inside a police station, school or government office. But for the person who needs that footage as evidence, the bigger challenge may be reaching it before it disappears.

25/09/2026

Our Partners, Rupinder Malik and Harsh*t Anand, co-authored an article in Lexology titled “Fast Track Mergers - What works and what ails.”

The article examines the evolution of India’s fast-track corporate restructuring framework following the 2025 amendments, including its expansion to a wider range of mergers, demergers and inbound reverse flips. It also discusses the potential for faster timelines compared with the NCLT route, while highlighting challenges relating to stamp duty, regulatory queries, approval thresholds and varying practices of Regional Directors.

Read the full article: https://www.lexology.com/library/detail.aspx?g=3732c53c-0097-433a-a000-5703787f52d1

India’s corporate restructuring framework has undergone meaningful liberalisation over the past two years. The fast-track merger…

24/09/2026

JSA advised one of the Institutional selling shareholders in the IPO of National Stock Exchange of India Limited (“NSE”). This was the second largest IPO in India amounting to INR 22,561.57 crores.

The equity shares of NSE were listed on BSE Limited on September 24, 2026,
Read more: https://www.jsalaw.com/deals-matter/jsa-advised-one-of-the-institutional-selling-shareholders-in-the-ipo-of-nse/

The JSA team benefited from strategic inputs and advice from Vikram Raghani, Partner. The mandate was led by Arka Mookerjee, Partner, with support from Pracheta Bhattacharya, Partner, Sourav Modi, Partner, and Prateek Khandelwal, Associate.

24/09/2026

JSA Prism | Energy | September 2026

Amendment to Rajasthan Integrated Clean Energy Policy, 2024
The Government of Rajasthan, on August 17, 2026, has introduced key amendments to the Rajasthan Integrated Clean Energy Policy, 2024, aimed at facilitating renewable energy development and promoting greater integration of energy storage in the State. The amendments introduce a framework for intra-group transfer of registered renewable energy park capacity, broadens the land allotment framework for large-scale renewable energy and green hydrogen projects. It revises land area limits, provides registration charge exemptions linked to the battery energy storage system deployment, and prescribes a 2 (two) year timeline for utilisation of grid connectivity approvals. These changes are expected to enhance flexibility in project structuring and land allotment, while bringing definitive timelines and incentives for the implementation of renewable energy and storage projects in Rajasthan.

To read further details, please click here: https://www.jsalaw.com/newsletters-and-updates/jsa-prism-energy-september-2026-3/

M. Arun Kumar | Kopal Kesarwani | Palak Dhingra

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24/09/2026

JSA Prism | Electricity and Power | September 2026

Madhya Pradesh High Court holds that landowner consent is not required once the powers of the Telegraph Authority are conferred under Section 164 of the Electricity Act, 2003

In a significant ruling, the Madhya Pradesh High Court has held that once Section 164 of the Electricity Act, 2003 (“Electricity Act”) is invoked, a licensee need not obtain the landowner's prior consent under the Works of Licensees Rules, 2006. The only remedy available with the landowner is compensation under Section 16(3) of the Telegraph Act, 1885. The court also held that Section 164 of the Electricity Act can be extended for a line supplying a single industrial consumer, if the licensee owns and maintains it and other customers can tap in.

To read further details, please click here: https://www.jsalaw.com/newsletters-and-updates/jsa-prism-electricity-and-power-september-2026-6/

Akshat Jain | Sayan Ghosh