Corporate & Compliance Digest June 29, 2026

We are delighted to share this week's AKP Corporate & Compliance Weekly Digest. Please feel free to write to us with your feedback at info@akandpartners.in.

1. Labour Law & Employment Law

1.1. Telangana issues draft Social Security Rules, 2026 to strengthen worker welfare framework

The Government of Telangana (GoT) has released draft rules under the Code on Social Security, 2020 to operationalise a comprehensive social protection framework covering organised, unorganised and gig workers. The draft rules outline mechanisms for registration of employers and employees, administration of statutory bodies, and implementation of welfare schemes, aligning state level enforcement with the unified national framework. The framework expands coverage to a wider workforce, including gig and platform workers, and introduces structured compliance obligations relating to contributions, reporting, and digital record keeping. It also provides for delivery of benefits such as provident fund, insurance, maternity benefits and pensions through designated institutions, ensuring streamlined governance and transparency.

1.2. West Bengal Govt. notifies revised minimum wages for scheduled employments effective July 2026 –December 2026

The Government of West Bengal (GoWB) Labour Commissionerate has notified revised minimum wage rates applicable across scheduled employments for the period July 1, 2026, to December 31, 2026.  The rates are categorised by skill level (unskilled, semi‑skilled, skilled, and highly skilled) and by geographical classification into Zone A and Zone B, covering urban and non‑urban areas respectively. Higher wage slabs are specified for semi‑skilled, skilled, and highly skilled categories across multiple industries including manufacturing, healthcare, retail, hospitality, and services.

1.3. Manipur Govt issues draft Industrial Relations Rules, 2026 under Industrial Relations Code

The Government of Manipur (GoM) through the Skills, Labour, Employment and Entrepreneurship Department (SLEE Department), has issued draft Industrial Relations (Manipur) Rules, 2026 under the Industrial Relations Code, 2020, inviting public objections and suggestions within 45 days from publication. The draft rules seek to operationalise the Industrial Relations Code by prescribing detailed procedures for constitution of works committees, grievance redressal mechanisms, trade union registration and governance, and recognition of negotiating unions within industrial establishments.  They also introduce structured provisions for dispute resolution through conciliation, arbitration, and Industrial Tribunals, including timelines, electronic filing, and procedural safeguards.

2. Securities & Capital Markets

2.1. CDSL issues enhanced online submission framework for DP compliance certification

Central Depository Services (India) Limited (“CDSL”) has issued a communique mandating enhanced online submission of Half‑Yearly Compliance Certificates (“HCC”) by Depository Participants (“DPs”), strengthening audit and reporting standards. The updated system requires DPs to provide mandatory ‘Yes’/‘No’ responses for each compliance item, with detailed reasons and corrective actions to be recorded in cases of non‑compliance. The process also introduces structured digital workflows, including validation checks, record maintenance, and submission of digitally signed HCC files by the Compliance Officer.  

2.2. CDSL introduces enhanced online facility for mandatory DP submissions and grievance reporting

CDSL has issued a communique introducing enhancements to its online facility for mandatory submissions by DPs, aimed at improving compliance reporting and operational efficiency. The upgraded system introduces a ‘Fetch from Previous Submission’ feature, enabling DPs to retrieve, edit, or delete previously submitted records relating to National Institute of Securities Markets (NISM) certification details, thereby streamlining data management and updates. Additionally, a new functionality has been introduced to update closure dates of unresolved investor complaints carried forward from earlier reporting periods, ensuring accurate tracking and timely grievance resolution.

3.  Information Technology & Data Protection

3.1.  CERT-In warns of multiple vulnerabilities in Oracle products

The Indian Computer Emergency Response Team (“CERT-In”) has identified multiple critical vulnerabilities across various Oracle products, including Oracle Communications, Oracle E‑Business Suite, Oracle Fusion Middleware, Oracle MySQL, and Oracle PeopleSoft, among others. These vulnerabilities arise from weaknesses across different components and could allow a remote attacker to execute arbitrary code, gain elevated privileges, access sensitive information, manipulate data, bypass security restrictions, or trigger denial of service (“DoS”) conditions. The risk has been assessed as critical, with potential impact including unauthorised system access, data compromise, and disruption of services affecting enterprise environments. CERT-In has accordingly advised organisations and individuals using affected Oracle products to promptly apply vendor‑recommended security updates to mitigate potential risks and ensure system integrity.

3.2. CERT-In warns of multiple vulnerabilities in Google Chrome

CERT-In has identified multiple high severity vulnerabilities in Google Chrome, a widely used web browser for desktop systems. The vulnerabilities affect Google Chrome versions prior to 149.0.7827.155 for Linux and versions prior to 149.0.7827.155/156 for Windows and Mac. These issues arise from weaknesses such as use after free errors, heap buffer overflows, inadequate input validation, race conditions, and improper security implementation across several browser components. If exploited, attackers could execute arbitrary code, gain unauthorised access to sensitive information, bypass security restrictions, perform spoofing attacks, or cause DoS conditions. CERT-In has assessed the risk as high and advised organisations and individuals to promptly apply the vendor recommended security updates to mitigate potential system compromise and data security risks.  

3.3. CERT-In warns of multiple vulnerabilities in Splunk products

CERT-In has identified multiple critical vulnerabilities in Splunk products, including Splunk Enterprise and Splunk Cloud Platform across various versions. The vulnerabilities arise due to weaknesses such as improper access controls, insufficient authentication mechanisms, inadequate input validation, and server-side request forgery (SSRF) and cross site scripting (XSS) flaws. If exploited, attackers with unauthenticated or low privileged access could create or modify arbitrary files, execute malicious scripts, bypass security restrictions, and exfiltrate sensitive information, thereby compromising the confidentiality, integrity, and availability of affected systems. CERT-In has assessed the risk as critical and advised organisations using affected versions to promptly implement vendor recommended security updates to mitigate potential risks.

3.4. CERT-In warns of information disclosure vulnerability in M365 Copilot

CERT-In has identified a critical information disclosure vulnerability in Microsoft 365 Copilot (M365 Copilot), an Artificial Intelligence (AI)‑based assistant integrated across Microsoft 365 applications. The vulnerability arises due to missing authentication controls for a critical function, which could allow an unauthorised attacker to exploit the system over a network. Successful exploitation may result in exposure of sensitive information, unauthorised access to data, and compromise of confidentiality. CERT-In has assessed the risk as critical and advised organisations and individuals using M365 Copilot to apply vendor‑recommended security updates at the earliest to mitigate potential data security risks.

4.   MCA Updates

4.1. MCA issued guidelines for Corporate Mitra Scheme to support MSMEs

The Ministry of Corporate Affairs (MCA) has issued guidelines for the Corporate Mitra Scheme, introduced in Union Budget 2026–27, to strengthen support for Micro, Small and Medium Enterprises (“MSMEs”) by creating a cadre of trained paraprofessionals. The scheme envisages a 12 months (Twelve Months) programme comprising 6 months (Six Months) of structured academic training and 6 months (Six Months) of on‑the‑job exposure, enabling participants to provide assistance in areas such as regulatory compliance, Goods and Services Tax (GST), accounting, and corporate governance.  It aims to improve ease of doing business, enhance compliance capacity of MSMEs, and generate employment opportunities by developing industry‑ready professionals.  

5. Regulatory Enforcement

Authority	Name of the Company	Amount of Penalty	Contravention
SEBI	Delta Leasing & Finance Limited	INR 2,18,500 (Indian Rupees Two Lakh Eighteen Thousand Five Hundred only)	Non‑payment of dues leading to recovery proceedings and attachment of bank accounts and mutual fund holdings.
SEBI	Continental Seeds and Chemicals Limited	INR 3,95,02,068 (Indian Rupees Three Crore Ninety-Five Lakh Two Thousand Sixty Eight only)	Non‑payment of dues leading to recovery proceedings and attachment of bank accounts and mutual fund holdings.

Disclaimer

The note is prepared for knowledge dissemination and does not constitute legal, financial or commercial advice. AK & Partners or its associates are not responsible for any action taken based on its contents.

For further queries or details, you may contact:

Mr Anuroop Omkar

Founding Partner, AK & Partners

info@akandpartners.in