News and Updates Issue 36 Duration April 16-30, 2020

“The law is reason free from passion.”

ARISTOTLE

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/216 dated April 17, 2020 in relation to Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/219 dated April 17, 2020 in relation to COVID19 Regulatory Package – Review of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets ReadMore
  • The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/228 dated April 29, 2020 in relation to Submission of Regulatory Returns - Extension of timelines ReadMore

LABOUR LAW

  • Ministry of Labour & Employment in the current scenario of lockdown announced by the Government to control the spread of COVID-19 pandemic and other disruptions, the businesses and enterprises are not able to function normally and are facing liquidity / cash crunch to pay their statutory dues even though they are retaining the employees on their rolls. Keeping in view the above situation and to further ease the compliance procedure under EPF & MP Act, 1952, the filing of monthly Electronic-Challan cum Return (ECR) is separated from Payment of the statutory contributions reported in the ECR. [April 30, 2020] ReadMore

COMPETITION LAW

  • Federal Trade Commission (FTC) sends report to Congress on Retailers’ Shipping Policies [April 17, 2020] ReadMore
  • Federal Trade Commission (FTC) sends warning letters to Multi-Level Marketers regarding Health and Earnings Claims they or their Participants are making related to Coronavirus [April 24, 2020] ReadMore
  • Federal Trade Commission (FTC) Chairman’s Statement regarding the Court’s approval of the Facebook Settlement [April 24, 2020] ReadMore
  • Competition Commission of India (CCI) approves acquisition of majority shareholding in B.M.M Ispat Limited by JSW Projects Limited [April 24, 2020] ReadMore
  • “Thrive” Supplement Marketer agrees to Preliminary Order barring him from claiming it can Treat, Prevent, or Reduce the risks associated with COVID-19 [April 28, 2020] ReadMore
  • Competition Commission of India (CCI) approves Proposed Combination between BP Global Investments Limited (BP Global) and Reliance BP Mobility Limited (RBPML)under Section 31(1) of the Competition Act, 2002 [April 30, 2020] ReadMore

ENERGY

  • Ministry of New and Renewable Energy (MNRE) asks Haryana to honour renewable energy contracts [April 26, 2020] ReadMore
  • Renewables agency charts path to zero-carbon energy system by 2050 [April 20, 2020] ReadMore
  • Power industry gives thumbs up to proposed Electricity Act Amendments [April 22, 2020] ReadMore
  • Government simplifies oil, gas block processes; provides for self-certification, deemed approval [April 27, 2020] ReadMore
  • India to launch natural gas trading on electronic platform next month [April 29, 2020] ReadMore
  • Coal India asks subsidiaries to expediate security deposit refunds [April 28, 2020] ReadMore
  • Electricity Act proposed Amendments are good but much more needed for reforms [April 28, 2020]ReadMore

NEWS

  • The Securities and Exchange Board of India (SEBI)eases compliance rules for processing of demat request, KYC application [April 16, 2020] ReadMore
  • Google to waive ad fees as part of journalism relief effort [April 17, 2020] ReadMore
  • Supreme Court (SC) dismisses UBS’s plea in Future Retail pledge share sale matter [April 17, 2020] ReadMore
  • Information Technology (IT) companies lean on utilities & communication arms [April 21, 2020] ReadMore
  • Government tightens PPE testing, certification norms [April 22, 2020] ReadMore
  • Google to make verification mandatory for all advertisers [April 23, 2020] ReadMore

Disclaimer “This information has been gathered from various sources. Nothing herein is or may be construed as legal advice”.