Legal Updates
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MCA permits following people to file CIRP on behalf of financial creditor
MCA allows following person on behalf of the financial creditor to file an application for initiating corporate insolvency resolution process…
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RBI introduces Voluntary Retention Route for Investments by FPIs
In order to encourage the Foreign Portfolio Investors (FPIs) to undertake long-term investments in Indian debt markets RBI has introduced a…
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RBI introduces NBFC – Investment and Credit Company by harmonising 3 categories of NBFCs
RBI has decided to merger three categories of NBFCs viz. Asset Finance Companies (AFC), Loan Companies (LCs) and Investment Companies (ICs)…
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MCA introduces ACTIVE for companies incorporated on or before 31 Dec. 2017
MCA issues Companies (Incorporation) Amendment Rules, 2019 wherein Rule 25A has been inserted. Rule 25 A refers to Active Company…
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RBI allows FPI to have an exposure of more than 20% of its corporate bond portfolio to a single corporate
In order to encourage a wider spectrum of investors to access the Indian corporate debt market. RBI has withdrawn paragraph 4(f)…
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RBI imposes monetary penalty on 7 banks for non-compliance
RBI imposes monetary penalty on following 7 banks for non-compliance :- Sr. No Name of Bank Penalty amount (in ₹ Million) 1 Bank of…
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SEBI allows non-residents not to provide PAN for the transfer of equity shares of listed entities
Under Schedule VII of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”), SEBI has mandated both transferee(s) as well…
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Applicants under CIRP can raise ECBs from recognised lenders, except from the branches/ overseas subsidiaries of Indian banks
RBI had issued New External Commercial Borrowings Policy (to be referred as “ECB Framework”) dated January 16, 2019 ( A.P. (DIR…
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Cabinet approves to amend Cinematograph Act, inserts penal provisions for unauthorized camcording & duplication of films
In order to tackle the menace of film piracy Govt. has approved to introduce Cinematograph Amendment Bill, 2019. Under the Bill,…
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Updates of RBI’s Sixth Bi-monthly Monetary Policy Committee
Monetary Policy Committee (MPC) decides to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points…
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