Your Weekly dose of Legal, Technology and Risk Insights
TOP STORY OF THE WEEK
US-Israel-Iran : War will bring down world economies
The conflict involving the United States, Israel, and Iran is escalating rapidly, with missile attacks, naval confrontations, and regional spillover pushing the Middle East into one of its most unstable periods in decades. Iran has fired new missiles at Israel, while Israel has intensified strikes on Hezbollah positions in Lebanon. In a significant development at sea, a US submarine has sunk an Iranian warship in the Indian Ocean. The human toll is rising sharply, with over 1,000 people reported dead in Iran and dozens more killed in Lebanon and Israel. Tehran continues to face heavy bombardment, while uncertainty grows over Iran's political future as discussions about a potential successor to Ayatollah Ali Khamenei emerge. According to the United Nations, tens of thousands of residents have fled the capital amid the escalating crisis.
LEGAL & TECH
Justice S.A. Dharmadhikari has been sworn in as the 55th Chief Justice of the Madras High Court
Tamil Nadu Governor R.N. Ravi, on Friday (March 6, 2026), administered the oath of office to Madras High Court Chief Justice Sushrut Arvind Dharmadhikari at the Lok Bhavan in Chennai and handed over the warrant of appointment issued by President Droupadi Murmu. Justice S.A. Dharmadhikari is the 55th Chief Justice of Madras High Court. Puisne judges, Minister for Courts S. Regupathy, Chief Secretary N. Muruganandam, Advocate General P.S. Raman, State Public Prosecutor Hasan Mohamed Jinnah, Director General of Police (in-charge) K. Venkataraman and Greater Chennai Commissioner of Police A. Arun attended the ceremony among others.
CognexiaAI launches India’s first AI-native legal intelligence platform
CognexiaAI has launched CognexiaAI Legal, India's first AI-native legal intelligence platform, and announced RS540 crore in enterprise contracts across Australia and New Zealand. Built as an indigenous technology solution, the platform uses proprietary AI models, workflow automation and analytics to quickly analyse large legal documents, helping legal professionals reduce review time and improve efficiency in complex cases.
HC notice to Centre, Google, Meta, X over plea for regulation of AI content
The Punjab and Haryana High Court has issued notices to several Union ministries and major tech companies, including Google, Meta and X, on a PIL seeking urgent regulation of deepfake technology and AI-generated synthetic media in India. The plea argues that deepfakes pose serious risks to privacy, democracy, financial systems and national security, and claims that existing laws such as the Information Technology Act, 2000, IT Rules, 2021 and the Bharatiya Nyaya Sanhita, 2023 are inadequate to address these challenges.
CORPORATE COMPLIANCE
SEBI eases compliance reporting framework for AIFs
SEBI has eased the compliance reporting framework for Alternative Investment Funds (AIFs) by introducing a comprehensive annual activity report while reducing the scope of quarterly filings to improve ease of doing business. The annual report will be filed through the SEBI portal within 30 days of the financial year end, starting with FY 2026. In a separate move, SEBI also updated governance and operational requirements for custodians, requiring non-bank custodians to maintain separate business units and accounts for SEBI-regulated and non-regulated financial services to strengthen regulatory oversight.
SEBI's disclosure norms match global standards; real-time surveillance strengthened: Chairman
Securities and Exchange Board of India Chairman Tuhin Kanta Pandey said India's capital market disclosure framework is globally competitive and based on a disclosure-driven regulatory regime focused on trust, transparency and technology. The regulator has also strengthened real-time surveillance systems to monitor market activity and enforce rules effectively. He emphasized that SEBI aims to maintain balanced regulation that protects investors while supporting market growth and innovation.
RISK INTELLIGENCE
ED searches multiple sites linked to Anil Ambani's Reliance Power in bank fraud probe
The Enforcement Directorate conducted searches at multiple locations in Mumbai and Hyderabad in connection with an investigation involving Reliance Power, a company linked to businessman Anil Ambani. Around 10–12 premises associated with the company and its executives were searched by nearly 15 ED teams. The probe relates to an alleged bank fraud–linked money laundering case and suspected financial irregularities under the Foreign Exchange Management Act. Anil Ambani has already been questioned twice by the agency as part of the investigation.
NSE IPO Hype Fuels Unlisted Share Scam Probe
The Enforcement Directorate recently conducted raids in Mumbai and Chennai as part of a money-laundering probe into an alleged fraud involving the sale of non-existent unlisted shares of NSE India. Investigators claim intermediaries misled investors with promises of premium share allocations ahead of NSE's anticipated IPO and diverted funds into assets and multiple accounts. The case highlights regulatory gaps in the unlisted share market, where limited oversight and speculative demand can expose investors to fraud. Authorities warn that inflated pre-IPO valuations and opaque transactions pose significant risks, even as NSE’s IPO remains planned for late 2026.