The industry is bracing for the first of July, when Securities and Exchange Board of India’s (Sebi) rules of capping royalty payments at 2 percent will kick in. Sources say the market regulator's move would affect tech transfers and bottomlines. Amit Tandon, MD of corporate governance and proxy advisory firm, IiAS as well as Abhimanyu Bhattacharya, partner at Khaitan & Company shared their views and outlook.