Duane Morris & Selvam Advises on ESDS Software Solution Limited’s IPO

SINGAPORE, 8 September 2026 — Duane Morris & Selvam LLP acted as the international legal counsel to DAM Capital Advisors Limited and Systematix Corporate Services Limited in their capacity as the book running lead managers on the recent sale of ₹7,200 million (approximately US$76 million) of equity shares in ESDS Software Solution Limited in an IPO in India and concurrent private placements outside India. The shares were listed on BSE and NSE on September 4, 2026.

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The Twelve ECT Cases of 2026: Five Golden Rules

employment

By Leonard Loh

Key Takeaway: In 2026, Singapore’s Employment Claims Tribunal published its first-ever written decisions: twelve in all to-date. Like the five golden rings in the famous Christmas carol, five core principles emerge from these cases. Employers should particularly take note.

The Employment Claims Tribunal (“ECT”) published twelve written decisions between May and August 2026 — its first since assuming wrongful dismissal jurisdiction in 2019. These decisions address wrongful dismissal, overtime pay, retirement, constructive dismissal, salary deductions and more. This article identifies the five important rules that emerge from these decisions.

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Duane Morris & Selvam advises on Globus Spirits Limited’s QIP

SINGAPORE, 12 August 2026 — Duane Morris & Selvam LLP acted as the international legal counsel to Nuvama Wealth Management Limited in its capacity as the book running lead manager on the recent sale of INR 2,000 million (US$ 21 million) of shares in Globus Spirits Limited in a qualified institutions placement in India and concurrent private placements outside India, including in the United States.

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Duane Morris & Selvam Recognised as a Regional and Specialist firm in India Business Law Journal’s 2026 Foreign Firms Leading on India report

SINGAPORE, 4 August 2026 – Duane Morris & Selvam has been recognised as a Regional & Specialist firm for India-related matters in India Business Law Journal’s (IBLJ) 2026 Foreign Firms Leading on India report.

The India Business Law Journal highlights that “Duane Morris & Selvam is hugely admired for the depth and breadth of its India practice spanning capital markets, oil and gas advisory, dispute resolution, and corporate M&A.”

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Overview of Key Changes under the Corporate and Accounting Laws (Amendment) Act 2025

By Patrick Ong & Hannah Poh

On 5 November 2025, the Corporate and Accounting Laws (Amendment) Bill (the “Bill”) was passed by Parliament, relating to amendments to Singapore’s corporate and accounting laws as part of a regular review by the Ministry of Finance of Singapore (“MOF”) and the Accounting and Corporate Regulatory Authority of Singapore (“ACRA”), with respect to the regulatory functions of and legislation administered by ACRA. There were five (5) objectives stated, as follows:

(a) To tighten rules against the misuse of companies for unlawful purposes;
(b) To safeguard shareholders’ interests;
(c) To strengthen the regulatory framework for companies;
(d) To reduce regulatory burden for companies; and
(e) To enhance the regulatory regime for public accountants.

The first tranche of provisions under the Corporate and Accounting Laws (Amendment) Act 2025 (the “Act”) commenced on 6 May 2026.

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Duane Morris & Selvam advises on Kusumgar Limited’s IPO

SINGAPORE, 22 July 2026 — Duane Morris & Selvam LLP acted as the international legal counsel to Axis Capital Limited, IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited in their capacity as the book running lead managers on the recent sale of INR 10,150.00 million (approximately US$106 million) of equity shares in Kusumgar Limited in a pre-IPO and IPO in India and concurrent private placements outside India. The shares were listed on BSE and NSE on July 15, 2025.

The IPO garnered remarkable interest from investors, with a QIB subscription of 298 times, which is one of the highest ever, and an overall subscription of approximately 135 times.

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Duane Morris & Selvam Advises on Manorama Industries Limited ₹500 crore Qualified Institutions Placement

SINGAPORE, 8 July 2026 — Duane Morris & Selvam LLP acted as special international legal counsel to Ambit Private Limited and ITI Capital Limited in their capacity as the book running lead managers for the ₹500 crore Qualified Institutions Placement (QIP) by Manorama Industries Limited, a leading Indian manufacturer of specialty tree-borne oils and fats derived primarily from Sal and Mango seeds.

The Duane Morris & Selvam LLP team was led by Jamie Benson, Director and Head of the U.S. Capital Markets, U.S. Venture Capital and India Practices. Faiz Jugari, an associate in the Singapore office, also advised on the QIP.

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Seat Matters: Challenging A Tribunal’s Ruling On Jurisdiction

By Akshay Kishore and Mark Ng

Kompetenz-Kompetenz is the universally accepted principle that empowers arbitration tribunals to decide on their own jurisdiction. However, recent decisions in the Indian Supreme Court and the Singapore High Court provide timely reminders on whether and when such jurisdictional rulings can be referred to the local supervisory court. Parties must remember the inconsistency across jurisdictions in timings its challenge to the Tribunal’s ruling on jurisdiction.

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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