Regulatory Updates Amendments to the validity period and transferability of CRZ clearances On 3 July 2023, the Central Government amended the Coastal Regulation Zone (“CRZ”) Notification, 2011. The key amendments include: Increase in the validity period of CRZ clearances from…
Regulatory Updates Revision of Customer Information Sheet/Know Your Policy for the Consolidated Guidelines on Product filing in Health Insurance Business dated 22 July 2020 As per Regulation 26 of the Insurance Regulatory and Development Authority of India (“IRDAI”) (Health Insurance)…
Regulatory Updates Appointment of debenture trustee's nominee on boards/governing bodies of non-company issuers Regulation 23(6) of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations 2021 (“NCS Regulations”), obligates an issuer which is a company under the Companies Act, 2013…
Enforcement Matters Delhi High Court holds that the Patents Act will prevail over the Competition Act On 13 July 2023, a division bench of the Delhi High Court, while deciding on the interplay between the Competition Act and the Patent…
Co-authored by Manav Raheja, Co-authored by Jhinook Roy (Partner) and Swasti Patoria (Associate) Potnis, Hriday Chokshi and Samarth Srivastava The Reserve Bank of India has recently introduced directions on 13th September 2023 to streamline practices by all Commercial Banks (excluding Payments…
Co-authored by Manav Raheja, Avadhoot Potnis, Hriday Chokshi and Samarth Srivastava The Indian Government recently introduced the latest version of the Digital Personal Data Protection Bill, 2023 (“Bill”) in the Lok Sabha (Lower House of the Parliament). The Bill was…
Regulatory Updates Addendum to the Dredging Guidelines for Major Ports The Ministry of Ports, Shipping and Waterways (“MoPSW”) has, on 16 March 2023, issued an addendum to the Dredging Guidelines for Major Ports 2021 ("Addendum"). The Addendum became publicly available…
Regulatory Updates RBI Framework for Acceptance of Green Deposits The RBI has introduced guidelines on 11 April 2023 (effective from 1 June 2023) to encourage regulated entities (viz., scheduled commercial banks excluding regional rural banks, local area banks and payments…
Enforcement Matters Supreme Court holds that the Competition Act is applicable to Coal India Limited On 15 June 2023, the Supreme Court rejected an appeal filed by Coal India Limited ("CIL") which primarily contended that CIL and its subsidiaries could…
Regulatory Updates Committee on Regulatory Sandbox for Inviting Applications and Guidelines on Operational Issues pertaining to the Regulatory Sandbox The Insurance Regulatory and Development Authority of India ("IRDAI") has vide notification dated 31 March 2023, made the process of filing…
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