India's Supreme Court just handed down a major ruling: Tiger Global's $1.6 billion exit from Flipkart through the Walmart acquisition now faces tax obligations. This is a significant move for New Delhi and sets a precedent that'll ripple across future international M&A transactions in the region. The decision basically signals how regulators view cross-border capital flows and asset transfers—expect this to influence how investors structure similar deals going forward. For anyone tracking institutional flows into emerging markets, this is worth paying attention to.