News and Updates Issue 27 Duration December 01-15, 2019

ISSUE_27

Nothing is more subject to change than the laws.

MICHEL DE MONTAIGE, 16TH- CENTURY FRENCH WRITER

BANKING AND FOREIGN EXCHANGE

LABOUR LAW

  • Ministry of Labour & Employment has taken steps for drafting four Labour Codes i.e. the Code on Wages; the Code on Industrial Relations, the Code on Occupational Safety, Health & Working Conditions & the Code on Social Security by simplifying, amalgamating and rationalizing the relevant provisions of the existing Central Labour Laws. Out of these 4 Labour Codes, the Code on Wages, 2019, has been notified on 8thAugust, 2019 in the Gazette of India. The Occupational Safety, Health and Working Conditions Code, 2019 was introduced in Lok Sabha on 23rd July, 2019 and subsequently, referred to the Parliamentary Standing Committee on Labour for examination. The Industrial Relations Code, 2019 has been introduced in Lok Sabha on 28th November, 2019. The Code on Social Security, 2019 has been approved by the Cabinet for its introduction in Parliament. [December 09, 2019]
    For more information, please access –
    https://pib.gov.in/newsite/pmreleases.aspx?mincode=21

COMPETITION LAW

  • Competition Commission of India (CCI) approves the acquisition of stake in Future Supply Chain Solutions Limited (“Future Supply”) by Nippon Express (South Asia & Oceania) Pte. Ltd. (“Nippon Express”), under Section 31(1) of the Competition Act, 2002 [December 10, 2019]
    For more information, please access –
    https://www.cci.gov.in/sites/default/files/press_release/PR252019-20.pdf
  • Competition Commission of India (CCI) approves subscription of compulsorily convertible debentures (“CCDs”) of Piramal Enterprises Limited (“Piramal Enterprises”) by Caisse de dépôt et placement du Québec (“CDPQ”), under Section 31(1) of the Competition Act, 2002. Upon conversion, equity shareholding of CDPQ in Piramal Enterprises will increase from 3.68 % to 8.99 % [December 10, 2019]
    For more information, please access –
    https://www.cci.gov.in/sites/default/files/press_release/PR262019-20.pdf
  • Federal Trade Commission (FTC) issues opinion and order against Cambridge Analytica for deceiving consumers about the collection of Facebook Data, Compliance with EU-U.S. Privacy Shield [December 06, 2019]
    For more information, please access – ReadMore
  • Federal Trade Commission (FTC) to hold workshop on non-compete clauses used in employment contracts [December 05, 2019]
    For more information, please access – ReadMore
  • Federal Trade Commission (FTC) stops marketers from making false arthritis treatment claims [December 05, 2019]
    For more information, please access – ReadMore
  • Court Halts Operations of VoIP Service Provider after the Federal Trade Commission (FTC) and Ohio alleged that it helped promote credit card interest reduction scheme [December 05, 2019]
    For more information, please access –
    https://www.ftc.gov/news-events/press-releases/2019/12/court-halts-operations-voip-service-provider-after-ftc-ohio

ENERGY

  • Government reportedly plans Ordinance to ensure power pacts are honoured [December 12, 2019]
    For more information, please access –ReadMore
  • India assures renewable developers of pro-business policies [December 11, 2019]
    For more information, please access –ReadMore

NEWS

  • Government launches independent directors' databank [December 02, 2019]
    For more information, please access –ReadMore
  • Reserve Bank of India (RBI) customer protection rules will benefit depositors [December 04, 2019]
    For more information, please access –ReadMore
  • Central Information Commission (CIC) reportedly issues show-cause notice to Reserve Bank of India (RBI) for casual approach to its notice [December 05, 2019]
    For more information, please access –ReadMore
  • Government sets in motion process to revamp criminal laws [December 05, 2019]
    For more information, please access –ReadMore
  • Insolvency and Bankruptcy Code (IBC) to be amended to protect new owners of bankrupt companies [December 09, 2019]
    For more information, please access –ReadMore

 

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