IIO exposure to bonds, debts and deposits is limited according to the sovereign credit rating of the country from which the instruments are offered. The framework covers fixed-income instruments, debt mutual funds, loans, corporate and bank deposits, and similar rights. Maximum exposure is 100 per cent for SCR-RC 1 and India including IFSC, 50 per cent with a 10 per cent buffer for SCR-RC 2 and 3, 20 per cent for SCR-RC 4 to 6, and 10 per cent for SCR-RC 7 and lower within the investible grade.

The Supreme Court required the Central Government urgently to identify, in consultation with the Tribunal President, infrastructural amenities needed by tribunal benches. The Principal Bench Bar Association was required to compile tabulated infrastructure data for every regional bench. At least 18 benches were asserted to conduct half-day sittings because of member shortages, against a sanctioned complement that remained unchanged despite expanded insolvency jurisdiction.

Exposure limits for an International Financial Service Centre Insurance Office investing in bonds, debt and deposits are determined by Insurance Capital Standards rating categories and apply to total investment assets. ICS-RC 1 permits 100 per cent exposure without a buffer; ICS-RC 2 and 3 permit 50 per cent exposure with a 10 per cent buffer; and ICS-RC 4 permits 20 per cent exposure without a buffer. Exposure in India, including IFSC, is permitted up to 100 per cent without a buffer.

Regulation 9 sets investment-asset exposure limits for an International Financial Service Centre Insurance Office, calculated against total investment assets. It permits specified exposure to fixed-income assets, other debt and deposits, equities, alternative investment funds, loans, immovable property and infrastructure. Short-term money-market investments may reach 100 per cent for new funds awaiting deployment and maturing-policy payments, but are otherwise limited. Debt mutual fund, MBS and ABS exposure is restricted within total debt investments. Rating criteria, sovereign-rating limits and instrument, entity, industry and group concentration limits apply, while ULIP investments must follow the accepted policyholder investment pattern subject to exposure norms.

Investments by an International Financial Service Centre Insurance Office in central-government bonds or debt instruments are limited to countries holding an investment-grade sovereign credit rating from a recognised international rating agency, unless otherwise specified. Debt instruments issued by sub-national governments, public-sector entities, municipalities, or other non-central-government entities do not qualify as sovereign bonds. Investments in countries subsequently identified as high-risk jurisdictions subject to a call for action must be relocated to eligible countries within the specified period and reported to the Authority.

International Financial Service Centre Insurance Office investments must be confined to assets rated Investment Grade under the Insurance Capital Standards-Rating Categories by international rating agencies recognised by the International Association of Insurance Supervisors. The requirement also applies for the purposes of specified registration-of-insurance-business provisions, subject to any contrary specification by the Authority.

Investible funds for an IIO transacting life insurance business include shareholders' funds representing solvency margin and specified policyholders' funds, reserves and unit-linked insurance assets. Most identified life insurance funds are valued at carrying value, while policyholders' unit reserves for unit-linked insurance business are valued at market value. For general, health and re-insurance business, investible funds include parent entity account funds, shareholders' solvency-margin funds and policyholders' funds at carrying value in the balance sheet.

Natural-rubber import restrictions limiting entry to Chennai and Nhava Sheva ports formed part of a national foreign-trade policy to regulate imports and protect domestic growers. Gujarat's lack of natural-rubber cultivation did not undermine the measure because the policy addressed nationwide market conditions and domestic-producer interests. The restriction had a rational connection with that objective, and no exceptional basis arose for intervention in the policy choice. Special Economic Zone units were not entitled to a separate exemption from the port limitation.

Each IIO must maintain a Board-approved Investment Policy, value its assets and liabilities, and maintain the prescribed solvency margin. Assets supporting liabilities must be earmarked and invested at not less than the value of liabilities, having regard to their nature, duration, currency and uncertainties. Such assets must remain unencumbered. Investments may be made in specified jurisdictions subject to foreign portfolio investment, home-country and FATF-related conditions. Relocating IIOs must apply the former jurisdiction's investment framework to premiums sourced there, separately account for and disclose ring-fenced investments, and preserve segregation of investments relating to risks assumed under the applicable registration framework.

Investment by an International Financial Services Centre Insurance Office means deployment of funds in financial assets or infrastructure assets, subject to specified exclusions. Financial assets include fixed-income instruments, equities, debts, immovable property, policy loans, units of specified funds, hedging derivatives and money-market instruments. Investment excludes certain administrative or judicial asset releases, commercial claims, assets valued under the Asset Replication Approach, and specified government bonds. Infrastructure assets may be located in India or overseas and include recognised infrastructure sub-sectors, district heating, and specified financial and market-infrastructure institutions.

Investment by International Financial Service Centre Insurance Offices is governed by a regulatory framework and related processes for investment of assets by an IIO.

An IIO incorporated in an IFSC must comply with the prescribed investment framework. An IIO not incorporated in an IFSC, including a qualifying branch of a foreign insurer or Lloyd's India, may elect either its parent entity's investment norms or the prescribed framework. Existing registered IIOs must make the election within one month of notification, and applicants must do so when seeking registration.

International Financial Services Centres Authority (Investment by International Financial Service Centre Insurance Office) Regulations, 2022 regulate investment by an International Financial Service Centre Insurance Office. They are issued under statutory and delegated powers and take effect from publication in the Official Gazette.

Premium income must be recognised over the contract term or risk period, as relevant, net of tax collected from policyholders. Amounts attributable to future periods require an unearned premium reserve, shown separately as current liabilities with a disclosed assessment basis, while premium received before risk commencement is also a separate current liability. Outstanding-claim liabilities must include unpaid reported claims, IBNR and IBNER, and be actuarially estimated with an appointed actuary's fairness certificate.

IIOs must recognise premium income when due, defer unexpired direct acquisition costs, and determine life-policy liabilities through annual actuarial assessment supported by adequate assets. Real estate is measured at historical cost subject to periodic revaluation and impairment, while debt securities are held to maturity at amortised historical cost. Listed equity and actively traded derivatives are fair valued through the Fair Value Change Account; unlisted or inactive investments remain at historical cost subject to diminution provisions. Financial statements must also disclose contingent liabilities, actuarial assumptions, asset encumbrances, investment commitments and allocation bases.

A repeal and saving framework disapplies the prior IRDA financial-statement and auditors' report regime, including related guidelines and circulars, within International Financial Services Centres, and omits the specified operational-guidelines chapter. Earlier actions under the prior framework remain valid and are treated as actions under corresponding provisions. Existing insurance offices must comply with additional applicable requirements within six months of commencement or within an extended period specified by the Authority.

Inspection, investigation, information and disclosure powers allow the Authority to examine the affairs of an IIO and to seek information from the IIO or its Parent Entity, but only insofar as the requested information relates to the IIO's activities. Each IIO must make disclosures in the form and manner specified by the Authority.

Regulation 19 empowers the Authority to issue guidance notes or circulars to resolve difficulties in applying or interpreting the financial-statement regulations for International Financial Service Centre insurance offices. On an application with the prescribed non-refundable processing fee, the Authority may relax strict enforcement of any provision, with reasons recorded in writing.

The India-New Zealand Free Trade Agreement will grant duty-free access in New Zealand to all Indian exports, displacing existing peak tariffs on products such as ceramics, carpets, automobiles, and auto components. Scheduled to enter into force on 20 October 2026, the agreement also includes New Zealand's long-term investment commitment in India.

For composite supplies of electronic software development and integrated-circuit design to recipients in non-taxable territory, prototype hardware testing that only validates or improves the core software or design remains ancillary. Place of supply is determined by the service recipient's location under section 13(2) of the IGST Act. The physical-availability rule for services concerning goods does not separately govern that ancillary testing, and the contractual supply must be characterised on its facts.