Ministry of Electronics and Information Technology (“MeitY”) notifies the Information Technology (Amendment) Rules, 2026.
The MeitY has notified the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2026 amending the existing 2021 IT Rules to strengthen due diligence obligations for intermediaries, particularly in the context of synthetically generated information (SGI), deepfakes and related online harms. The amended Rules shall be enforced from 20.02.2026.
Key Takeaways:
- The Rules introduce a specific definition of SGI – audio/visual information created or altered algorithmically that appears “real or authentic”- and expressly exclude benign uses such as routine edits and captioning.
- Intermediaries that provide tools for creating/modifying SGI have enhanced due diligence obligations, including user advisories on consequences of misuse, periodic compliance notices (every 3 months) and stronger monitoring responsibilities.
- Timelines for takedown of unlawful or harmful content have been significantly compressed (e.g., 3 hours for general unlawful content).
- The deadline for resolving complaints by the Grievance Redressal Officer is shortened to 7 days.
- Intermediaries face tighter obligations, and failure to comply may lead to loss of safe harbour protection under Section 79 of the IT Act.
Ministry of Corporate Affairs (“MCA”) rolls out the Companies Compliance Facilitation Scheme (“CCFS-2026”) for delayed filings with reduced additional fees.
The MCA vide General Circular No. 01/2026 dated 24.02.2026 launched the CCFS-2026, granting companies a one-time opportunity to regularise their long-pending statutory filings at substantially reduced additional fees .
Key Takeaways:
- The CCFS-2026 shall come into force on 15.04.2026 and shall remain in force till 15.07.2026.
- Under the CCFS-2026, companies/inactive companies have the option to get their pending annual filings completed by paying only 10% of the total additional fees payable on account of delays.
- Companies can also opt for dormant status by paying 50% of normal filing fees or strike-off (voluntary closure) by filing an application in e-form STK-2 by paying 25% of filing fees.
- Filing under the CCFS-2026 may offer immunity from prosecution for defaults, provided filings are completed before adjudication proceedings or within the specified notice period.
- The initiative aims to improve corporate compliance, reduce historic defaults and clean up the MCA-21 registry.
- The scheme covers specified forms under the Companies Act, 2013 and related rules.
Securities and Exchange Board of India (“SEBI”) overhauls mutual fund categorisation and rationalisation framework.
The SEBI vide circular no. HO/24/13/15(2)2026-IMD-RAC4/I/5764/2026 dated 26.02.2026 has announced a full revamp of mutual fund categorisation and rationalisation norms discontinuing solution-oriented funds, introducing Life-Cycle Funds, expanding scheme buckets, and imposing strict portfolio overlap limits to curb closet indexing and duplication.
Key Takeaways:
- Mutual fund schemes have been restructured into clearly defined categories and sub-categories, including Equity, Debt, Hybrid, Life-Cycle and Other schemes.
- A new Life-Cycle category has been introduced for goal-based investing, incorporating pre-defined asset allocation glide paths.
- Certain existing classifications have been rationalised or discontinued. Asset Management Companies (“AMCs”) are required to align non-conforming schemes with the revised categories through merger, reclassification or restructuring, as applicable.
- Scheme names and disclosures must accurately reflect underlying portfolio composition and risks, reinforcing “true-to-label” principles.
- SEBI has imposed a 50% cap on thematic and value fund overlaps, requiring more distinct portfolios.
- The circular shall come into force with effect from the date of the circular.
Central Board of Indirect Taxes and Customs (“CBIC”) introduces deferred customs duty payment facility for eligible manufacturer importers as announced in Union Budget 2026-27.
CBIC vide circular no.08/2026-Customs dated 28.02.2026 has introduced a new facilitation measure for trusted manufacturers by enabling the facility of deferred payment of customs duty to a new category of importers called Eligible Manufacturer Importers (“EMI”).
Key Takeaways:
- The applicable duty can be paid on a monthly basis as prescribed under the Deferred Payment of Import Duty Rules, 2016, helping manufacturers better manage cash flows and working capital.
- The facility will be available from 01.04.2026 and will remain in force till 31.03.2028.
- The deferred payment facility shall be available to EMI meeting prescribed criteria related to Customs and GST compliance, turnover, financial standing and past track record. Existing AEO-T1 entities, including MSMEs, that fulfil the eligibility conditions are also eligible to participate.
- During the validity period of the scheme, approved Eligible Manufacturer Importers are expected to progressively obtain AEO-T2 or AEO-T3 status, enabling access to enhanced facilitation, faster clearances and priority treatment under the AEO Programme.
- Applications under the EMI scheme can be submitted online from 01.03.2026 on the AEO portal at www.aeoindia.gov.in under the tab “Eligible Manufacturer Importer”.
