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…
Regulatory Updates Review of the NBFC credit/ investment concentration norms In order to ensure uniformity and consistency in computation of concentration norms among Non- Banking Financial Companies ("NBFC"), the Reserve Bank of India has, vide, notification dated 15 January 2024,…
Enforcement Matters Madras High Court upholds the CCI's jurisdiction to decide on Google's payment systems On 19 January 2024, the division bench of the Madras High Court ("MHC") upheld the rejection of various suits that inter-alia challenged aspects of Google's…
Regulatory Updates CERC removes difficulties in implementation of GNA Regulations By its order dated 1 October 2023, Central Electricity Regulatory Authority (“CERC”) has issued clarifications on a few issues for removal of difficulties in implementation of CERC (Connectivity and General…
Regulatory Updates Amendment of Arbitration Clause in General Insurance Policies The Insurance Regulatory and Development Authority of India (“IRDAI”), has by way of acircular dated 27 October 2023, amended the arbitration clause in general insurance policies. The IRDAI has stated…
Regulatory Updates New Scale-based regulatory regime for NBFCs RBI issued the Master Direction- RBI (NBFC-Scale Based Regulation) Directions, 2023 ("NBFC Directions") on 19 October 2023 to streamline its earlier layered categorisation of NBFCs. The NBFC Directions have sought to divide…
Enforcement Matters NCLAT sets aside the CCI's order against sugar mills for bid-rigging on procedural grounds. On 10 October 2023, the National Company Law Appellate Tribunal (“NCLAT”) set aside the CCI's order which held sugar mills and their trade associations…
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)…
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