Law Updates

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Summary: India's Ministry of Communications has officially released 8 new and updated standards for telecom equipment across the country. These revised rules were issued under the Telecommunication Act, 2023, using powers granted by Section 19, read with Rule 5 of the Telecommunications Framework to Notify Standards, Conformity Assessment and Certification Rules, 2025. The standards apply from the date of publication in the Official Gazette. The 8 telecom equipment and systems covered under this notification are: LAN Switch, Firewall System, Element Management System for Next Generation Networks, Network Management System, Signalling Transfer Point, Signalling Gateway, Trunk Media Gateway, and Fraud Management and Control Centre. Each standard carries a unique TEC number for easy identification and tracking. These updated standards are designed to make sure that internet and telephone networks running across India stay fast, secure, and fully protected from fraud. Companies that make or supply telecom equipment in India must now follow these revised guidelines. This move shows the government's strong push toward building a more reliable and future-ready telecom network for every citizen of the country.

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Summary: The Bureau of Indian Standards (BIS), which operates under the Department of Consumer Affairs, issued a corrigendum on 15 May 2026, amending earlier notifications that were published in the Gazette of India under the Bureau of Indian Standards, BIS Rules, 2018. The amendment also revises the withdrawal date mentioned in earlier BIS notifications bearing reference numbers HQ-PUB013/1/2020-PUB-BIS (1088) dated 14 November 2024 and HQ-PUB-BIS (1312) dated 14 August 2025. As per the corrigendum, the date specified in Serial Number 06, Column (5) of the schedule has been changed from 12 February 2026 to 12 August 2026.  The extension also provides industries and stakeholders additional time to transition and comply with the updated Indian Standards before the earlier standards are formally withdrawn. The move is also expected to ease compliance challenges and ensure smoother implementation of revised quality and regulatory requirements. BIS issued the corrigendum in exercise of its powers under Rule 15(1) of the BIS Rules, 2018.

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Summary: The Bureau of Indian Standards (BIS) has released a new notification dated 15 May 2026 under the Bureau of Indian Standards (BIS) Rules, 2018, introducing the various updated Indian Standards (IS) pertaining to environmental management, sustainability, and textiles. One of the main key updates includes the establishment of IS/ISO 14001:2026, the third revision of the Environmental Management Systems standard, which also provides requirements and guidance for the organizations to improve environmental performance. The previous version of IS/ISO 14001:2015 will remain in force until 14 November 2026 before being withdrawn. BIS also introduced IS 19756:2026 for benchmarking environmental monitoring services and IS 19766 (Part 2):2026, which focuses on sustainability indicators for civil engineering works. A new textile specification, IS 19782:2026 for knitted pyjamas, has also been notified. These standards came into effect on 14 May 2026. The notification also reflects BIS’s continued emphasis on sustainability, environmental compliance, and quality assurance across industries in India.

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Summary: The Government of India just made a big move for better internet! On May 15, 2026, the Ministry of Communications (Department of Telecommunication) officially approved a new rule called TEC 21130:2025 - a standard for 5G Dual Core telecom equipment. Think of it like a safety checklist that all 5G devices must pass before they can be sold or used in India. This was done using the Telecom Act 2023 and the Telecom Rules 2025. This helps make India's 5G network faster, safer, and more reliable for everyone.

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Summary: The Directorate General of Foreign Trade (DGFT) has also introduced considerable amendments to the Standard Input-Output Norms (SIONs) M1 to M8 applicable to the gems and jewellery sector. The notification also inserts the five new notes that regulate the issuance and monitoring of Advance Authorizations (AA) for the gold imports. Under the revised framework, imports of gold under Advance Authorization, i.e., AA, will now be subject to a maximum limit of 100 kilograms (Kg). Also, first-time applicants must undergo mandatory physical verification of their manufacturing facilities by the concerned Regional Authority to confirm their operational capability and production capacity.  The DGFT has further mandated that the subsequent authorizations for gold imports will be granted only after at least 50% fulfilment of the export obligations under previous authorizations have been fulfilled. Advance Authorization, i.e., AA holders, are also required to submit fortnightly performance reports certified by an independent Chartered Accountant, detailing gold import and export transactions. Moreover, Regional Authorities must provide monthly consolidated reports to DGFT Headquarters for centralized compliance monitoring.  These amendments aim to strengthen regulatory oversight, improve tracking of export obligations, and ensure greater transparency in gold import transactions within the gems and jewellery sector.

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Summary: SEBI has issued a circular dated May 19, 2026, revising the format of the Monthly Cumulative Report (MCR) applicable to mutual funds and Asset Management Companies (AMCs). The revised reporting format will be effective from June 2026 onwards and follows the introduction of new mutual fund schemes categorised under SEBI’s categorisation and rationalisation framework.  The updated MCR format also includes the detailed disclosures on scheme-wise folios, fund mobilisation, redemptions, net inflows or outflows, assets under management (AUM), average AUM, segregated portfolios, and SIP-related data. SEBI has also introduced a separate MCR-SIF format covering equity, debt, and hybrid long-short investment strategies.  The circular or notification also clarifies that all other provisions under Clause 6.20 of the SEBI Master Circular for Mutual Funds dated March 20, 2026, will remain unchanged. The revised framework aims to improve transparency, streamline reporting practices, and strengthen investor protection in the mutual fund industry.