Regulatory Updates Reduction in denomination of debt securities and non-convertible redeemable preference shares SEBI has, vide circular dated 3 July 2024, amended Chapter V (Denomination of issuance and trading of non-convertible securities) of the Master Circular for Issue and Listing…
Regulatory Updates Prevention of Money-Laundering (Maintenance of Records) Amendment Rules, 2024 The IRDAI has introduced certain amendments to the Prevention of Money-Laundering ("Maintenance of Records") Rules, 2005 ("PML Rules"). The amendments introduced by the IRDAI include the following: (i) for…
Regulatory Updates NHAI Circular on Bid Security and Performance Security National Highways Authority of India ("NHAI") has, vide circular dated 1 July 2024, notified that the bid security and performance security in relation to national highway works will now also…
Enforcement Matters Delhi High Court sets aside the prima facie order passed by the CCI and terminated the proceedings against JCB India and another On 14 August 2024, the Delhi High Court ("DHC") quashed the prima facie order passed by…
Regulatory Updates Master Circular - Guarantees and Co-acceptances The RBI, vide 'Master Circular on Guarantees and Co-acceptances' dated 1 April 2024, consolidated guidelines/ instructions issued to all scheduled commercial banks (excluding payments banks and regional rural banks) till 31 March…
Regulatory Updates Master Circular on Rural, Social Sector and Motor Third Party Obligations, 2024 The Insurance Regulatory and Development Authority of India (“IRDAI”) notified the IRDAI (Rural, Social Sector and Motor Third Party Obligations) Regulations on 20 March 2024 with…
Regulatory Updates Guidelines for monitoring of projects and issuance of Provisional Certificate of Completion/ Completion Certificates In order to address concerns regarding erroneous issuances of provisional certificate of completion ("PCC") and completion certificates ("CC"), the National Highways Authority of India…
Enforcement Matters NCLAT and Delhi High Court decide the quantum of penalty imposed on Godrej and Geep for their participation in a bilateral ancillary battery cartel Godrej and Boyce Manufacturing Co (“Godrej”) and its officials had filed an appeal before…
Regulatory Updates Standard Operating Procedure for recycling of lead scrap/ used acid batteries The Central Pollution Control Board has issueda standard operating procedure, dated 4 January 2024, listing down the requirements for seeking permission for import of lead scrap/ used…
Regulatory Updates Investments in Infrastructure Debt Funds - NBFC The Insurance Regulatory and Development Authority of India ("IRDAI") has, by way of a circular dated 5 January 2024, eased certain regulations on investment by insurance companies in infrastructure debt funds…
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